- 1 - 7
- 1. Financial Planning: Process and Rules
- 1.1 Introduction
- 1.2 Financial Planning Process
- 1.3 Purpose, Benefits and Components
- 1.4 Steps in the Financial Planning Process
- 1.5 Ethics and Disciplinary Rules
- 1.6 Code of Ethics and Professional Responsibility
- 1.7 Terminology
- 1.8 Part 1 - Principles
- 1.9 Part 2 - Rules Relating to the Principle of Integrity
- 1.10 Part 2 - Rules Relating to the Principle of Objectivity and Competence
- 1.11 Part 2 - Rules Relating to the Principle of Fairness
- 1.12 Part 2 - Rules Relating to the Principle of Confidentiality
- 1.13 Part 2 - Rules Relating to the Principle of Professionalism
- 1.14 Part 2 - Rules: Principle of Diligence
- 1.15 Disciplinary Rules and Procedures
- 1.16 Article 3: Grounds For Discipline
- 1.17 Article 4: Forms Of Discipline
- 1.18 Article 5: Interim Suspension Status
- 1.19 Article 6: Investigation
- 1.20 Article 7: Complaint - Answer Default
- 1.21 Article 8: Discovery And Evidence
- 1.22 Article 9, 10 and 11
- 1.23 Article 12: Conviction of a Crime or Professional Suspension
- 1.24 Article 13: Settlement Procedure
- 1.25 Articles 14 and 15
- 1.26 Article 16 and 17
- 1.27 Candidate Fitness Standards
- 2. Financial Statements
- 3. Financing Strategies
- 4. Education Planning
- 5. Special Circumstances
- 6. Economics and The Time Value of Money
- 6.1 Introduction
- 6.2 Supply and Demand
- 6.3 Shifts Vs. Movement and Elasticity
- 6.4 Fiscal and Monetary Policy
- 6.5 Economic Indicators
- 6.6 Business Cycles
- 6.7 Inflation, Deflation and Stagflation
- 6.8 Yield Curve
- 6.9 Time Value of Money: Present and Future Value
- 6.10 Ordinary annuity, Annuity Due and Net Present Value
- 6.11 Internal Rate of Return (IRR), Uneven Cash Flows and Serial Payments
- 7. Regulations and Requirements
- 7.1 Registration and Licensing
- 7.2 Registration and Licensing (Contd.)
- 7.3 Registration and Licensing (Contd.)
- 7.4 Reporting
- 7.5 Advertising and Solicitation
- 7.6 State Securities and Insurance Laws
- 7.7 Business Law: Contracts
- 7.8 Agency
- 7.9 Fiduciary Liability
- 7.10 Consumer Protection Laws
- 7.11 Consumer Protection Laws (Contd.)
- 7.12 Consumer protection laws: Identity Theft Protection
- 1. Financial Planning: Process and Rules
- 8 - 14
- 8. Principles of Risk and Insurance
- 9. Analysis and Evaluation of Risk Exposure
- 10. Property, Casualty and Liability Insurance
- 10.1 Introduction to Personal Insurance
- 10.2 Hazard Insurance
- 10.3 Exclusions and Covered Forms of Peril for Homeowners Insurance
- 10.4 Replacement Values of Lost Property
- 10.5 Homeowner Endorsements and Auto Insurance
- 10.6 Automobile Insurance: Medical Coverage and Uninsured Motorists
- 10.7 Physical Damage Under Automobile Insurance
- 10.8 Umbrella Liability Insurance
- 10.9 Business Insurance
- 10.10 Professional and Director Liability
- 10.11 Worker''s Compensation
- 11. Health Care Insurance and Cost Management
- 12. Disability Insurance
- 13. Long-Term Care Insurance
- 14. Life Insurance
- 15 - 21
- 15. Taxation and Business Uses of Insurance
- 15.1 Introduction to Life Insurance Taxation
- 15.2 Policy Withdrawals and Death Benefits
- 15.3 MECs and Transferring For Value
- 15.4 1035 Exchanges
- 15.5 Business Uses of Life Insurance
- 15.6 Structure and Tax Considerations of Buy-Sell Agreements
- 15.7 Key-Employee Life Insurance
- 15.8 Split-Dollar Life Insurance
- 15.9 Structure and Taxation of Split-Dollar Coverage
- 15.10 Business Overhead Expense Insurance
- 16. Insurance Needs Approach
- 17. Insurance Selection and Annuities
- 18. Group Life Insurance
- 19. Group Disability Insurance
- 20. Group Medical Insurance
- 21. Other Employee Benefits
- 15. Taxation and Business Uses of Insurance
- 22 - 28
- 22. Employee Stock Options
- 23. Stock Plans
- 24. Non-Qualified Deferred Compensation
- 25. Characteristics, Uses and Taxation of Investments
- 25.1 Cash and Equivalents
- 25.2 Cash and Equivalents (Contd.)
- 25.3 Individual bonds
- 25.4 U.S. Government Bonds and Agency Securities
- 25.5 Series EE, HH and I Bonds
- 25.6 Series H, HH and I
- 25.7 Mortgage-Backed Securities
- 25.8 Zero-Coupon and Municipal Bonds
- 25.9 Types of Municipal Bonds
- 25.10 Corporate Bond
- 25.11 Convertible Bond Mathematics
- 25.12 Callable and Foreign Bonds and Promissory Notes
- 25.13 Common Stock: Categorization
- 25.14 Preferred Stocks and ADR
- 25.15 Pooled and Managed Investments
- 25.16 Mutual Fund Expenses
- 25.17 Mutual Fund Advantages/Disadvantages and Evaluation
- 25.18 Investment Objectives
- 25.19 Closed-End Investment Companies
- 25.20 Index Securities
- 25.21 Hedge Fund Style Types
- 25.22 Hedge Fund Style and Structure Types
- 25.23 Limited Partnerships
- 25.24 Sub Accounts
- 25.25 Guaranteed Investment Contracts (GICs)
- 25.26 Alternative Investments
- 25.27 Call and Put Summary
- 25.28 Options: Advantages and Disadvantages
- 25.29 Tax Rules, LEAPS and Futures
- 25.30 Warrants and Rights
- 25.31 Tangible Assets
- 25.32 Securities Markets
- 25.33 Securities Regulation
- 25.34 Sample Questions 1 - 7
- 25.35 Sample Questions 8 - 13
- 25.36 Sample Questions 14 - 19
- 25.37 Answer Key
- 26. Types of Investment Risk
- 27. Risk and Return Measures
- 27.1 Introduction
- 27.2 Distribution of Returns
- 27.3 Statistical Risk Measures
- 27.4 Correlation and Volatility Statistics
- 27.5 Measures of Investment Return
- 27.6 Measures of Investment Return (Contd.)
- 27.7 Taxable Equivalent Yield (TEY)
- 27.8 Duration, Convexity and Capitalized Earnings
- 27.9 Dividend Growth Models
- 27.10 Sample Questions 1 - 5
- 27.11 Sample Questions 6 - 10
- 27.12 Sample Questions 11 - 15
- 27.13 Sample Questions 16 - 20
- 27.14 Sample Questions 21 - 26
- 27.15 Sample Questions 27 - 31
- 27.16 Answers 1 - 20
- 27.17 Answers 21 - 31
- 28. Investment Theory and Portfolio Development
- 28.1 Introduction
- 28.2 Modern Portfolio Theory (MPT)
- 28.3 Efficient Market Hypothesis (EMH)
- 28.4 Fundamental Analysis
- 28.5 Bottom-Up Analysis
- 28.6 Financial Statement Analysis
- 28.7 Ratio analysis: Liquidity Ratios
- 28.8 Ratio Analysis: Activity, Profitability and Debt Ratios
- 28.9 Technical Analysis
- 28.10 Technical Analysis – Other Indicators
- 28.11 Investment Policy Statements
- 28.12 Appropriate Benchmarks and Probability Analysis
- 28.13 Tax Efficiency
- 28.14 Performance Measures
- 28.15 Review Questions 1 - 6
- 28.16 Review Questions 7 - 12
- 28.17 Review Questions 13 - 18
- 28.18 Review Answers
- 29 - 35
- 29. Investment Strategies
- 29.1 Introduction
- 29.2 Basic Investment Strategies
- 29.3 Swap and Collar Strategies
- 29.4 Formula Investing Strategies
- 29.5 Leverage as a Strategy
- 29.6 Short Selling Strategies
- 29.7 Hedging and Options Strategies
- 29.8 Asset Allocation
- 29.9 Concentrated Stock Portfolio Strategies
- 29.10 Asset Pricing Models
- 29.11 The Black-Scholes Option Valuation Model
- 29.12 Review Questions 1 - 5
- 29.13 Review Questions 6 - 11
- 29.14 Review Questions 12 - 16
- 29.15 Review Questions 17 - 22
- 29.16 Review Questions 23 - 27
- 29.17 Review Answers
- 30. Income Tax Law Fundamentals
- 31. Tax Compliance
- 32. Income Tax Fundamentals and Calculations
- 32.1 Introduction
- 32.2 Filing Status
- 32.3 Gross Income
- 32.4 Adjustments
- 32.5 Standard / Itemized Deductions
- 32.6 Personal and Dependency Exemptions
- 32.7 Taxable Income
- 32.8 Tax Liability
- 32.9 Kiddie Tax
- 32.10 Self-Employment Tax
- 32.11 Tax Credits
- 32.12 Payment of Tax
- 32.13 Sample Questions 1 - 6
- 32.14 Answer Key
- 33. Tax Accounting
- 34. Characteristics and Income Taxation of Business Entities
- 35. Income Taxation Of Trusts And Estates
- 29. Investment Strategies
- 36 - 42
- 36. Basis
- 37. Depreciation And Cost-Recovery Concepts
- 38. Tax Consequences
- 38.1 Introduction
- 38.2 Reporting Requirements
- 38.3 Qualifying Transactions
- 38.4 Liabilities & Boot
- 38.5 Related Party Transactions
- 38.6 Tax Consequences Of The Disposition Of Property
- 38.7 Holding Period
- 38.8 Sale of Residence
- 38.9 Depreciation Recapture
- 38.10 Related Parties
- 38.11 Wash & Bargain Sales
- 38.12 Section 1244 Stock and Installment Sales
- 38.13 Involuntary Conversions
- 38.14 Sample Questions 1 - 10
- 38.15 Answer Key
- 39. Alternative Minimum Tax
- 40. Tax Reduction And Management Techniques
- 41. Passive Activity And At-Risk Rules
- 42. Tax Implications of Special Circumstances
- 43 - 49
- 43. Charitable Contributions And Deductions
- 43.1 Introduction
- 43.2 Public Charities
- 43.3 Private Charities
- 43.4 Deduction Limitations and Carryover Periods
- 43.5 Appreciated Property and Non-deductible Contributions
- 43.6 Appraisals and Substantiation Requirements
- 43.7 Charitable Contributions by Business Entities
- 43.8 Sample Questions 1 - 5
- 43.9 Answer Key
- 44. Determining Retirement Needs
- 45. Social Security
- 46. Types of Retirement Plans
- 46.1 Introduction
- 46.2 Characteristics
- 46.3 Types and Provisions of Qualified Plans
- 46.4 Defined benefit
- 46.5 Qualified Plan Rules and Options
- 46.6 Integration with Social Security/disparity limits
- 46.7 Factors affecting contributions or benefits
- 46.8 Top heavy plans
- 46.9 Loans from qualified plans
- 46.10 Other Tax-Advantaged Retirement Plans
- 46.11 Roth IRA
- 46.12 Simplified Employee Pension (SEP)
- 46.13 SIMPLE plans
- 46.14 403(b) Plans
- 46.15 457 Plan
- 46.16 Keogh Plans (HR-10)
- 46.17 Regulatory considerations
- 46.18 Fiduciary Liability Issues
- 46.19 Prohibited Transactions and Reporting Requirements
- 46.20 Suitability
- 46.21 Unrelated Business Taxable Income and Life Insurance
- 47. Distribution Rules, Alternatives And Taxation
- 47.1 Introduction
- 47.2 Penalties
- 47.3 Lump Sum Distributions
- 47.4 Annuity Options
- 47.5 Rollovers
- 47.6 Direct Transfer
- 47.7 Required Minimum Distributions
- 47.8 Retirement Rules
- 47.9 Calculations
- 47.10 Beneficiary Considerations or Stretch IRAs
- 47.11 Qualified Domestic Relations Order
- 47.12 Taxation of Distributions
- 48. Property Titling And Transfer
- 48.1 Introduction
- 48.2 Community Property Vs. Non-Community Property
- 48.3 Sole Ownership
- 48.4 Tenancy
- 48.5 Trust Ownership
- 48.6 Transfer Through Probate Process
- 48.7 Operation of Law, Transfers Through Trusts, Transfers by Contract
- 48.8 Probate Strategies
- 48.9 Sample Questions 1 - 4
- 48.10 Same Questions 5 - 9
- 48.11 Answer Key
- 49. Documentation
- 43. Charitable Contributions And Deductions
- 50 - 56
- 50. Gifting
- 50.1 Introduction
- 50.2 Gifting Strategies
- 50.3 Strategies for Closely-Held Business Owners
- 50.4 Gifts of Present Interest & Gifts to Non-citizen Spouses
- 50.5 Tax Implications
- 50.6 Gift Tax Filing Requirements
- 50.7 Exclusions and Deductions
- 50.8 Tax Liability
- 50.9 Sample Questions 1 - 5
- 50.10 Sample Questions 6 - 9
- 50.11 Answer Key
- 51. Incapacity Planning
- 52. Estate Tax
- 53. Liquidity, Powers of Appointment, and Trusts
- 53.1 Introduction
- 53.2 Sources For Estate Liquidity
- 53.3 Powers Of Appointment
- 53.4 Types, Features And Taxation Of Trusts
- 53.5 Types and Basic Provisions
- 53.6 Trust Beneficiaries: Income and Remainder
- 53.7 Rule Against Perpetuities / Estate and Gift Taxation
- 53.8 Grantor Retained Annuity Trusts
- 53.9 Grantor Retained UniTrusts
- 53.10 Qualified Personal Residence Trusts
- 53.11 Valuation of Qualified Interests
- 53.12 Sample Questions 1 - 4
- 53.13 Sample Questions 5 - 8
- 53.14 Sample Questions 9 - 14
- 54. Charitable Transfers
- 55. Use Of Life Insurance In Estate Planning
- 56. Valuation Issues
- 50. Gifting
- 57 - 63
- 57. Marital Deductions
- 58. Deferral And Minimization Of Estate Taxes
- 59. Intra-Family And Other Business Transfer Techniques
- 59.1 Introduction
- 59.2 Buy-Sell Agreements, Installment Notes, Self-Canceling Note
- 59.3 Private Annuity, Transfers In Trust, Intra-Family Loan
- 59.4 Bargain Sales, Gift or Sale Leaseback, Intentionally Defective Grantor Trust
- 59.5 Family Limited Partnership or Limited Liability Company
- 59.6 Sample Questions 1 - 5
- 59.7 Answer Key
- 60. Generation-Skipping Transfer Tax
- 61. Fiduciaries
- 62. Income In Respect Of A Decedent
- 63. Postmortem Estate Planning Techniques
- 64
- 64. Estate Planning For Non-Traditional Relationships
Financial Planning: Process and Rules - Part 2 - Rules Relating to the Principle of Confidentiality
Rule 501
A CFP Board designee shall not reveal or use for his or her own benefit, without the client's consent, any personally identifiable information relating to the client relationship or the affairs of the client, except and to the extent disclosure or use is reasonably necessary:
(a) To establish an advisory or brokerage account, to effect a transaction for the client, or as otherwise impliedly authorized in order to carry out the client engagement; or
(b) To comply with legal requirements or legal process; or
(c) To defend the CFP Board designee against charges of wrongdoing; or
(d) In connection with a civil dispute between the CFP Board designee and the client.
For purposes of this rule, the proscribed use of client information is improper whether or not it actually causes harm to the client.
Rule 502
A CFP Board designee shall maintain the same standards of confidentiality to employers as to clients.
Rule 503
A CFP Board designee doing business as a partner or principal of a financial services firm owes the CFP Board designee's partners or co-owners a responsibility to act in good faith. This includes, but is not limited to, adherence to reasonable expectations of confidentiality both while in business together and thereafter.
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