Question

One of the values of comprehensive financial planning is

		a.The fees the planner may receive
		b.The ease with which a client may be able to achieve multiple objectives at a lower cost.
		c.Identification of how one recommendation may influence other aspects of a client’s plan.
		d.Efficiency

The implementation checklist

		a.Keeps the planner on task selling the clients the recommended products
		b.Is the only document the client’s may need from the plan
		c.Provides a road map to financial freedom
		d.Details the implementation steps needed for each recommendation proposed

Tactical asset allocation allows more:

		a.Account churn through requiring a specific allocation of the account to each asset class
		b.Planner fees for detailed analysis of the technical basis for investments.
		c.Reliance on the investment policy of the firm to guide assignment of asset class allocations
		d.Active management through assigning a range of allocation to each asset class

A widowed client decided to rent a room in her home to a friend’s daughter who is attending a nearby trade school, mostly to alleviate the empty feeling of the house. When the renter’s popcorn popper caused a small fire in the house, the client discovered:

		a.The damage to the daughter’s belongings was fully covered.
		b.The fire damage to the house wasn’t covered because the damage was caused by a renter.
		c.Fire wasn’t a listed peril on her HO policy.
		d.The cost of repairing the house from the fire damage was fully paid by the umbrella policy.

Time horizon is defined as:

		a.Timeline of the engagement
		b.Time the planner is given to achieve the agreed upon goal
		c.Time period between goal formation and goal achievement
		d.Period of time closed mutual funds are open for investment

Answer 1

1. One of the values of the comprehensive financial planning will be including Ease at which a client may be able to achieve multiple objectives at a lower cost and it is highly inclusive in nature as it is not just limited to aspects of investing and it will be covering all other aspects of a client's business also. Comprehensive planning in terms of Financial Management is a wider approach because it will be encompassing various aspects of financial management like investment to security to education to financial independence.

So it can be said that the comprehensive financial planning is a wider approach of investing

Correct answer would be option (B)The ease with which a client may be able to achieve multiple objectives at a lower cost.