Practice Quiz

Financial Planner

Category - Professional Conduct and Regulation

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If there are limitations on your recommendation to a client based on business or regulatory requirements, what should you do?
  1. Do what is best for the client, regardless of the requirements
  2. Refer the client to another practitioner
  3. Disclose any limitations to the client
  4. Assume that the client knows the regulations and proceed with the best available options
Explanation
Answer: C - In any situation where you have limitations on the recommendations you can make to a client, you should disclose those limitations. This would apply if the limitations are based on business requirements, regulatory requirements, or on your knowledge and skills.
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