Liberty
University BUSI 352 quiz 1 solutions answers right
How many
versions: 5 versions
Question 1 Which of the following are
components of “passive listening"? 1: Listening in a normal social
setting, such as a sermon. 2: Communication rests on one speaker. 3: The
listener screens out some information. 4: The listener is thinking about what
to say in response, which hampers listening.
Question 2 You are a relatively new
financial planner. You have been working for an investment firm in the United
States and have decided that you would like to add more credibility to your
practice. Which of the following professional credentials would provide you
with the most credibility since it is the oldest and best known?
Question 3 Which of the following are NOT
heuristics or cognitive biases discussed in this chapter that can lead to less than
optimal decisions by a normal investor?
Question 4 After meeting with your new
client, Sid, you prepared his current financial statements. Which part of the
financial planning process were you engaged in?
Question 5 Which of the following are NOT
components of “active listening?”
Question 6 Which of the following
statements are true? 1: There has been a movement in recent times for the
financial industry to be more in touch with psychology and sociology due to
their effect and persuasiveness in financial matters. 2: There has been a
movement in recent times for the financial industry to focus on asset prices
and ignore psychology and sociology issues. 3: Behavioral Finance has nothing
to do with issues concerning psychology and sociology.
Question 7 Which of the following is
considered to be a counseling paradigm or school of thought?
Question 8 Steve Stein, a local CFP®
practitioner, recently met with one of his new clients, Merrell. During the
course of the meeting Steve did the following things. 1: Steve did not meet
with Merrell until 10 minutes after the scheduled start time. 2: In order to
establish Merrell’s confidence in him, Steve told Merrell the names of several
wellknown clients that currently do business with him. 3: Steve asked Merrell
several questions regarding Merrell’s family situation, hobbies, and
activities. Which of these actions would be considered inappropriate?
Question 9 Which of the following are
important in nonverbal communication and behavior? 1: Body positioning 2: Body
movement 3: Voice tone 4: Voice pitch
Question 10 Which of the following are
theories or equations used in traditional finance? 1: MeanVariance Theory 2:
Modern Portfolio Theory 3: The Capital Asset Pricing Model
Question 11 Reverend Lola Pak, a prospective
client, came to your office for the first time today. Which is the most
appropriate way to greet her?
Question 12 It is very important that
assumptions are not used in the financial planning process. The planner must
only use facts.
Question 13 Roy Al Pain has been a client
of yours for several years. During that time, Roy has been rude to both you and
your staff on numerous occasions. He has used profanities in front of your
staff and other clients, thrown things, and screamed at your staff. You have
tired of working with Roy and want to terminate your relationship with him.
Which of the following is true?
Question 14 Most clients have a good
understanding of the objective factors that affect the financial climate, and a
planner’s most important function is finding out what the client’s subjective
wishes are.
Question 15 Which of the following is the
best choice for Behavioral Finance?
Question 1
Most clients
have a good understanding of the objective factors that affect the financial
climate, and a planner’s most important function is finding out what the
client’s subjective wishes are.
Question 2
Which of the
following is considered to be a counseling paradigm or school of thought?
Question 3
Which of the
following are theories or equations used in traditional finance?
1: Mean-Variance
Theory
2: Modern
Portfolio Theory
3: The Capital
Asset Pricing Model
Question 4
Lisa Cooper
recently came to your office for her second appointment after receiving your
engagement letter. During the meeting, you collect several documents from her,
including her prior year tax returns, estate planning documents, and investment
statements and history. You also work with her on identifying her goals and
objectives. Which of the following is
the next step in the financial planning process?
Question 5
Which of the
following are consistent with the Humanistic Paradigm?
1: The majority
of Humanistic theories view clients as experts on themselves.
2: The alliance
between the counselor and client is extremely important for humanistic
counselors and is the basis of the treatment or plan of action.
3: There needs
to be a professional distance between the client and advisor where the advisor
should stay close to discussing numbers and data with the client.
Question 6
Which schools of
thought for counseling could an advisor combine?
Question 7
Which of the
following is NOT true in communicating with a client?
Question 8
Which of the
following are components of “passive listening"?
1: Listening in
a normal social setting, such as a sermon.
2: Communication
rests on one speaker.
3: The listener
screens out some information.
4: The listener
is thinking about what to say in response, which hampers listening.
Question 9
Which of the
following are true about “why” questions?
1: While the
“why” questions are tempting and may help understand the client’s motives, the
“why” question may be ill-advised because it could have limited benefit for the
client.
2: A “why”
question could place the client in a position of having to justify what was
done, and that could put the client in a defensive posture.
3: “Why”
questions are always the best questions to ask.
Question 10
Which of the
following are important in nonverbal communication and behavior?
1: Body
positioning
2: Body movement
3: Voice tone
4: Voice pitch
Question 11
After meeting
with your new client, Sid, you prepared his current financial statements. Which
part of the financial planning process were you engaged in?
Question 12
Reverend Lola
Pak, a prospective client, came to your office for the first time today. Which
is the most appropriate way to greet her?
Question 13
Which of the
following are NOT components of “active listening?”
Question 14
Which of the
following choices are false as to open or closed questions?
Question 15
Which of the
following is the best choice for Behavioral Finance?
Question
1
|
Which
of the following is the best choice for Behavioral Finance?
|
||||
Question
2
|
Which
of the following are consistent with the Humanistic Paradigm?
1: The majority of Humanistic theories view clients as experts on themselves. 2: The alliance between the counselor and client is extremely important for humanistic counselors and is the basis of the treatment or plan of action. 3: There needs to be a professional distance between the client and advisor where the advisor should stay close to discussing numbers and data with the client. |
||||
Question
3
|
Which
of the following are true about “why” questions?
1: While the “why” questions are tempting and may help understand the client’s motives, the “why” question may be ill-advised because it could have limited benefit for the client. 2: A “why” question could place the client in a position of having to justify what was done, and that could put the client in a defensive posture. 3: “Why” questions are always the best questions to ask. |
||||
Question
4
|
Roy
Al Pain has been a client of yours for several years. During that time, Roy
has been rude to both you and your staff on numerous occasions. He has used
profanities in front of your staff and other clients, thrown things, and
screamed at your staff. You have tired of working with Roy and want to
terminate your relationship with him. Which of the following is true?
|
||||
Question
5
|
Dustin
Towns is a well-known financial planner in your area. His clients rave about
how great he is and after meeting him, you understand why. While describing
him to your friend Jim, Jim wanted to know what was so great about financial
planners in general. You responded with the following statement “One of the
most important qualities a professional financial planner brings to the
client/planner relationship is: ________________.”
|
||||
Question
6
|
Which
of the following statements are true?
1: There has been a movement in recent times for the financial industry to be more in touch with psychology and sociology due to their effect and persuasiveness in financial matters. 2: There has been a movement in recent times for the financial industry to focus on asset prices and ignore psychology and sociology issues. 3: Behavioral Finance has nothing to do with issues concerning psychology and sociology. |
||||
Question
7
|
Which
of the following are theories or equations used in traditional finance?
1: Mean-Variance Theory 2: Modern Portfolio Theory 3: The Capital Asset Pricing Model |
||||
Question
8
|
It
is very important that assumptions are not used in the financial planning
process. The planner must only use facts.
|
||||
Question
9
|
Your
client, Jed, engaged you to help him with his financial situation. During the
course of your meetings, you sold Jed a $1,000,000 life insurance policy.
Which part of the financial planning process were you engaged in?
|
||||
Question
10
|
Which
of the following are NOT heuristics or cognitive biases discussed in this
chapter that can lead to less than optimal decisions by a normal investor?
|
||||
Question
11
|
After
meeting with your new client, Sid, you prepared his current financial
statements. Which part of the financial planning process were you engaged in?
|
||||
Question
12
|
Which
of the following is considered to be a counseling paradigm or school of
thought?
|
||||
Question
13
|
Reverend
Lola Pak, a prospective client, came to your office for the first time today.
Which is the most appropriate way to greet her?
|
||||
Question
14
|
Which
of the following investors would apply in the realm of Behavioral Finance?
|
||||
Question
15
|
Which
of the following is NOT true in communicating with a client?
|
||||
Question
1
|
Which
of the following items of information is least likely to be obtained from
your client during the data-gathering portion of the client meeting?
|
||||
Question
2
|
Which
of the following choices are false as to open or closed questions?
|
||||
Question
3
|
Reverend
Lola Pak, a prospective client, came to your office for the first time today.
Which is the most appropriate way to greet her?
|
||||
Question
4
|
Roy
Al Pain has been a client of yours for several years. During that time, Roy
has been rude to both you and your staff on numerous occasions. He has used
profanities in front of your staff and other clients, thrown things, and
screamed at your staff. You have tired of working with Roy and want to
terminate your relationship with him. Which of the following is true?
|
||||
Question
5
|
You
are a relatively new financial planner. You have been working for an
investment firm in the United States and have decided that you would like to
add more credibility to your practice. Which of the following professional
credentials would provide you with the most credibility since it is the
oldest and best known?
|
||||
Question
6
|
Which
of the following is NOT true in communicating with a client?
|
||||
Question
7
|
Which
of the following are important in nonverbal communication and behavior?
1: Body positioning 2: Body movement 3: Voice tone 4: Voice pitch |
||||
Question
8
|
Which
of the following is considered to be a counseling paradigm or school of
thought?
|
||||
Question
9
|
Which
of the following is NOT a premise in Traditional Finance?
|
||||
Question
10
|
Which
schools of thought for counseling could an advisor combine?
|
||||
Question
11
|
Which
of the following are NOT heuristics or cognitive biases discussed in this
chapter that can lead to less than optimal decisions by a normal investor?
|
||||
Question
12
|
Which
of the following are components of “passive listening"?
1: Listening in a normal social setting, such as a sermon. 2: Communication rests on one speaker. 3: The listener screens out some information. 4: The listener is thinking about what to say in response, which hampers listening. |
||||
Question
13
|
Which
of the following are NOT components of “active listening?”
|
||||
Question
14
|
After
meeting with your new client, Sid, you prepared his current financial
statements. Which part of the financial planning process were you engaged in?
|
||||
Question
15
|
Steve
Stein, a local CFP® practitioner, recently met with one of his new clients,
Merrell. During the course of the meeting Steve did the following things.
1: Steve did not meet with Merrell until 10 minutes after the scheduled start time. 2: In order to establish Merrell’s confidence in him, Steve told Merrell the names of several well-known clients that currently do business with him. 3: Steve asked Merrell several questions regarding Merrell’s family situation, hobbies, and activities. Which of these actions would be considered inappropriate? |
||||
Which
of the following is/are basic premises in Behavioral Finance?
1.
Investors are normal
2.
Markets are inefficient
3.
The Behavioral Asset Pricing Model
applies
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