Practice Quiz

Financial Planner

Category - Professional Conduct and Regulation

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In which case does the CFP Board determine that a practitioner is a fiduciary?
  1. When the client hires the practitioner in any capacity
  2. When the practitioner performs financial planning activities
  3. When the practitioner performs any activities other than financial planning activities
  4. When the client explicitly gives the practitioner “fiduciary” status in writing
Explanation
Answer: B - While the CFP Board requires that all practitioners place the client’s interests above their own, regardless of the type of services, the practitioner owes the client the care of a fiduciary when he or she represents the client in financial planning activities.
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