Other

Question 1

1. What is an example of transference in client-planner communication?
   A. The planner feeling frustrated with the client’s inaction
   B. The client transferring feelings from a past experience with a financial advisor to the current planner
   C. The client answering questions without hesitation
   D. The planner asking about the client’s financial goals
   E. The client showing excitement about new investment opportunities

Answer 1

b

Question 2

2. Word processing applications like Microsoft Word have been redesigned to automatically save versions
   of a document. That is because in the past people would forget to save the document before closing the
   application, losing all their work. This redesigned system uses what kind of choice architecture tool?
   A. Defaults
   B. Feedback
   C. Error expectancy
   D. Mapping
   E. Post-completion alerts

Answer 2

c

Question 3

3. Automatically enrollment for prescription refills, as a way to encourage taking medication, is an
   example of a(n) __________________ nudge.
   A. discouraging, externally-imposed
   B. encouraging, externally-imposed
   C. encouraging, self-imposed
   D. discouraging, self-imposed
   E. self-control boosting, mindful

Answer 3

b

Question 4

4. Which of the following is an example of an implied or indirect question?
   A. “How do you feel about the stock market?”
   B. “Why do you want to invest in real estate?”
   C. “I wonder what your retirement plans might look like?”
   D. “What kind of investments do you want to make?”
   E. “Is it possible for you to increase your savings rate?”

Answer 4

c

Question 5

5. Which of the following best represents a “discouraging” nudge?
   A. Installing a car dashboard that tracks mileage to reduce fuel consumption
   B. Providing a simplified application process to encourage college enrollment
   C. Placing unhealthy foods in harder-to-reach areas to discourage consumption
   D. Giving people rewards for recycling
   E. Encouraging people to save by providing higher interest rates

Answer 5

c

Question 6

6. Which of the following is the correct match between a segment of the intention-action gap (Gap 1) and
   its corresponding strategy?
   I. Motivational Enthusiasts: reinforce positive behaviours
   II. Diehard Opponents: choice architecture interventions
   III. Naïve intenders: behavioural crutches
   A. I and II
   B. II and III
   C. I and III
   D. I, II, and III
   E. None of the above

Answer 6

c

Question 7

7. Understanding ___________________________ is an important factor to consider during the change
   process because clients have a natural propensity towards growth and change and with proper support,
   have the ability to make positive changes. Planners can harness this to facilitate change.
   A. Internal motivation
   B. Passive compliance
   C. Resistance
   D. Ambivalence
   E. Externalized incentives

Answer 7

a