Practice Quiz

Financial Planner

Category - Professional Conduct and Regulation

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When the CFP Board Counsel receives information requiring an investigation, what is the first step in the investigation?
  1. The CFP Board Counsel calls the respondent, requesting records for the investigation
  2. The CFP Board Counsel provides written notice to the respondent, giving 30 days to respond
  3. The CFP Board Counsel temporarily suspends the respondent until the investigation is complete
  4. The CFP Board Counsel provides written notice to the respondent, giving 20 days to respond
Explanation
Answer: B - First, the CFP Board Counsel provides written notice to the respondent. The respondent has 30 days to provide a written response. If there is no response, there is a second request for information, and the respondent has 20 days to respond.
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