Code of Ethics and Standards of Conduct

Question 1

Code of Conduct

Answer 1

1. Act with honest, integrity, competence, and diligence
2. Act in the clients best interest
3. Exercise due care
4. Avoid or disclose and manage conflict of interest
5. Maintain confidentiality and protect client privacy of information
6. Act in a manner that reflects positively on the financial planning profession and CFP certification

Question 2

If CFP Board Counsel finds probable cause to believe that Respondent violated the Code and Standards or the Pathway to CFP® Certification Agreement, then CFP Board Counsel must take one or more of the following actions:

Answer 2

Letter of Dismissal
Settlement Offer
Complaint

Question 3

A Respondent must deliver a written Answer to an Amended Complaint no later than the later of ____________ of delivery of the Amended Complaint or the date an Answer to the original Complaint was due.

Answer 3

A Respondent must deliver a written Answer to an Amended Complaint no later than the later of 14 calendar days of delivery of the Amended Complaint or the date an Answer to the original Complaint was due.

Jameer Nelson responds to written complaint

Question 4

Failure to respond to

Question 5

Which of the following review and decide all appeals?

Answer 5

The Appeals Committee of the Board of Directors will review and decide all appeals. The Appeals Committee will be represented by counsel, including during any hearing.

Question 6

Administrative Order of Revocation

Answer 6

Failure to answer a complaint will result in CFP Board Counsel will result in CFP Board Counsel delivering an Administrative Order of Suspension or an Administrative Order of Revocation.

Question 7

At the commencement of an investigation, a Respondent must deliver to CFP Board Counsel a document acknowledging receipt of the Notice of Investigation within ____________from delivery to Respondent of the Notice of Investigation.

Answer 7

Respondent must deliver to CFP Board Counsel a document acknowledging receipt of the Notice of Investigation within 30 calendar days from delivery to Respondent of the Notice of Investigation.

Investigator is 30 Years Old

Question 8

Revocation:

Answer 8

The termination of a Respondent’s right to use the CFP® marks. Respondents are permanently barred from applying for or obtaining CFP® certification. No opportunity to repeal or reinstatement

Question 9

Select the minimum amount of time that a DEC-imposed suspension must last.

Answer 9

Per the CFP Board Procedural Rules, the DEC may issue a suspension for a specified period, not less than 90 calendar days or greater than five years.

Question 10

A suspension of a CFP® professional’s Certification and Trademark License during the pendency of proceedings is referred to as a(n)

Answer 10

An interim suspension is a suspension of a CFP® professional’s Certification and Trademark License during the pendency of proceedings.

An Order of Interim Suspension is a temporary sanction and does not preclude CFP Board from imposing a final sanction.

Question 11

Written Statements and Stipulations Due:

Answer 11

45 Days after delivery of complaint

Question 12

Place the following sanctions in order of severity, from lowest to highest:

Answer 12

Private Censure (lowest)
Public Censure
Suspension
Revocation (highest)

Question 13

A CFP® professional may only disclose non-public personal client information for

Answer 13

For ordinary business purposes, or
For legal and enforcement purposes.

Question 14

The Hearing Panel is comprised of at least ___ persons.

Answer 14

A Hearing Panel must consist of at least three persons. A majority of the Hearing Panel must be CFP® professionals, and a majority must be DEC members.

Question 15

Which of the following only applies to Respondents who are currently not CFP® professionals?

Answer 15

Temporary Bar
Permanent Bar

Question 16

A CFP® professional must provide written notice to CFP Board within ___________ after the CFP® professional engages in adverse conduct.

Answer 16

30 Calendar Days

Chad 30 Cal Days

Question 17

Customer Complaint

Answer 17

Sales practice violations and contained a claim for compensation of $5,000 or more

Sales Practice violations and settled for an amount of $15,000 or more

Question 18

Minor Rule Violation:

Answer 18

Fine of $2,500 or less and does NOT contest the fine

Question 19

Bankruptcy information must be disclosed to the Client within _________.

Answer 19

90 Days