Free CSI AFP-Exam-1 Exam Dumps Questions & Answers

Bruna is a senior financial planner. At 4 p.m. on Friday afternoon (an hour before closing), her manager asks her to complete the following:
Fix a mutual fund trade that was entered incorrectly by a junior financial planner.
Call her client to advise him that his account is overdrawn, and the bank will refuse recent payments unless he credits the account before 5 p.m.
Bruna determines she can only complete one of the two tasks before the end of the business day. How should Bruna address her supervisor's request?

• A.Bruna should prioritize the client with the overdrawn account since he is one of her clients. She should then reverse the incorrect trade the following business day.
• B.Bruna should let the client's payments bounce since the client is unable to manage his cash flow and Bruna should prioritize correcting the trade.
• C.Ask the manager which of the two problems should be prioritized. Then ask the manager to delegate the other task to a colleague.
• D.Stay after hours until she completes both tasks.

Ram Patel, age 65, is meeting with his financial planner, Maria Romano, to complete a financial plan. Ram is retiring this year, and his company provides a defined benefit pension plan. Upon retirement, he has the choice of receiving $20,000 each year for 20 years or until death (whichever is earlier), or he can take
$304,300, which is the commuted value at retirement. Ram has confirmed that he will be transferring the commuted value to a LIRA. After further discovery, Maria suggests that they utilize a 5% market rate of return and project the funds to last 25 years. What should Maria update Ram's projected annual retirement income to?

• A.$21,591.
• B.$24,418.
• C.$21,000.
• D.$20,000.

A client sends an email alleging that a mutual fund recommendation was unsuitable because the fund declined sharply after purchase. The client asks for compensation. What is the financial planner's first professional obligation?

• A.Delete the email if the account forms were signed correctly.
• B.Promise reimbursement to preserve the relationship.
• C.Document the complaint and follow the firm's complaint-handling procedure.
• D.Remind the client that all investments can lose money and close the matter.

A client completed a financial plan two years ago. Since then, she has divorced, changed jobs, and purchased a new home. What is the planner's most appropriate recommendation?

• A.Wait until the original five-year review date.
• B.Conduct a comprehensive review of goals, cash flow, insurance, tax, retirement, and estate planning.
• C.Update the file only if the client requests new products.
• D.Review only the investment portfolio because the plan already exists.

During implementation, a client agrees to update her will, purchase disability insurance, and increase RRSP contributions. Which statement best describes the planner's role?

• A.Assume the client will implement everything without follow-up.
• B.Focus only on the RRSP contribution because it creates an investment transaction.
• C.Complete the will without involving a lawyer.
• D.Clarify responsibilities, timelines, and any required referrals or product steps.