Chap 1

Question 1

What does having your license demonstrate? (4)

Answer 1

1) commitment to professional development
2) competency in recommending suitable products
3) ethical practices
4) responsibility to protect integrity of industry

Question 2

Name 3 rewards of satisfying clients

Answer 2

1) come back for business
2) referrals
3) buy other products from you in future

Question 3

Name 2 reasons why client service is important

Answer 3

1) MFs are subject to sales regulations/disclosure requirements that demands specialized client approach
2) Rapidly changing FS environment requires understanding of characteristics of many products

Question 4

Name and describe 3 types of responsibilities for a MF rep

Answer 4

1) Legal - investment must be suitable
2) Ethical - put client needs first
3) Professional - provide the best service

Question 5

What are the 5 parts of the KYC profile

Answer 5

1) financial goals
2) financial circumstance
3) personal circumstance
4) investment knowledge
5) risk tolerance