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Advanced Wealth Management Course (IIBF) - Paper 1

Part II: Ch 10: Towards a Financial Plan

Q1.

Gathering client information can be one of the most challenging parts of the financial planning process.

True

False

Q2.

The content requirements of a statement of advice given by a licensee and authorized representative was previously known as:

Financial Services Guide (FSG)

Australian Securities and Investments Commission (ASIC)

Customer advice record (CAR)

None of the above

Q3.

Conservative clients are:

Risk neutral

Risk tolerant

Risk seeker

Highly risk averse

Q4.

Moderate clients are:

Risk tolerant

Risk neutral

Risk averse

Risk seeker

Q5.

Very aggressive clients are:

Risk seeker

Risk averse

Risk neutral

Risk tolerant

Q6.

You will need to provide a regular review of the Guptas’ plan (case study of Guptas'), examining:

Their insurance requirements

Superannuation savings outcomes

Tax management performance

All of the above

Q7.

ProQuest is a computer-based risk tolerance tool that can be used on the Internet.

True

False

Q8.

‘Risk tolerance test’, which assesses client’s attitudes toward investment risk.

False

True

Q9.

ASIC specifically refers to:

Client’s personal circumstances

Individual values

Aversion

Tolerance to risk

All of the above

Q10.

According to Sanjeev & Sanjana case study, both were assessed as having:

conservative

aggressive

moderate risk tolerance

very aggressive

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