Test your knowledge

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Which of the following areas should you ask your financial planner about?

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The services offered

Licenses held

His or her approach to financial planning

All of the above

All of the above. You should ask your planner about his or her experience, licenses held, services offered, charges, and his or her approach to planning.

A financial plan should be _______.

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Measurable

Flexible

Renewable

All of the above

All of the above. A financial plan should be all of these, and more.

A commission is usually a fixed rate.

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True

False

False. A commission is an amount paid to an agent as compensation for executing a transaction. Commissions are usually a percentage of the amount you invest in a product.

You can locate a financial planner by researching the various professional associations that serve planners.

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True

False

True. You can go to their Websites and find planners who work near you.

Before a financial planner can create a financial plan for you, what must both of you do?

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Set your financial goals

Set a timeframe for meeting your financial goals

Agree on how to pay him or her

All of the above

All of the above. You must get all of these settled before starting on a plan, because the plan will be based on them.

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