FPQP EXAM ACTUAL 2025/2026 (FINANCIAL PARAPLANNER QUALIFIED PROFESSIONAL) QUESTIONS AND 100% CORRECT ANSWERS

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FPQP EXAM ACTUAL 2025/2026 (FINANCIAL PARAPLANNER QUALIFIED PROFESSIONAL) QUESTIONS AND 100% CORRECT ANSWERS Comprehensive Financial Plan - Answer -covers almost all aspects of a personal's financial situation (including risk mamagenet, investment planning, tax, retirement, and estate planning) Targeted Financial Plan - Answer -focus on a segment of individual's objectives. (ex - first home, elderly care, reducing tax burden) Goals should be... - Answer -defined or definite Steps to setting financial goal - Answer -1. Purpose, 2. Timeframe, 3. Amount ("PTA") Personal financial planning is continuous or noncontinuous? - Answer -Continuous 7 Steps of Financial Planning Process: - Answer -1. Understanding client's personal and financial circumstances. 2. Identifying and selecting goals. 3. Analyzing the client's current course of action and potential alternatre course(s). 4. Devleoping the financial planning recommendations. 5. Presenting the financial planning recommendations. 6. Implementing the financial planning recommendations. Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com 7. Monitoring process and updating. Two types of information: (Step 1 - Understanding client's personal and financial circumstances) - Answer -1. Quantitative - "names and numbers" family profile, assets and liability, cash inflows/outflaws, insurance policy info, employee/pension plan, tax returns, retirement benefits 2. Qualititative - "lifestyle info" goals/objectives, health status, interests/hobbies, risk-tolerance level, changes in lifestyle, estate planning issues, money values, family relationships, planning assumptions "SWOT" Approach (Step 3 - analyze and evaluate) - Answer -SWOT = Strenghs, Weaknesses, Opportunities, Threats Existing conditions are reviewed to identify strengths and weakenesses in client's total current financial situation. Identifying existing or potential problems that could impact the client's ability to achieve objectives. Emergency fund should be how much? - Answer -3-6 months expenses in emergency fund. Developing a plan means... (Step 4 - Reccommdations) - Answer -the planner determines the appropriate asset categories for the client's objective, time horizon, etc. What duty is required of a financial planner? - Answer -Fiduciary Duty = keep client's best interest over your's or your firm's. Cash Flow Statement Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com