CFP® Terms
CFP exam prep that covers all the top concepts in the CFP® curriculum, Danko, BIFF, Kaplan, & more.
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Decks in this class (70)
A.1 CFP Board’s Code of Ethics and Standards of Conduct
Learners will be able to identify and explain key terms and phrases associated with principles and requirements outlined in the CFP Board’s Code of Ethics and Standards of Conduct.
21
cards
A.2 CFP Board’s Procedural Rules
Learners will be able to identify and explain terms and phrases associated with procedural rules established by the CFP Board, including their application and implications for Certified Financial Planning CFP® professionals.
25
cards
A.3 Function, purpose, and general structure of financial institutions
Learners will be able to identify and explain the function, purpose, and general structure of financial institutions, including their role in the economy and their impact on consumers.
10
cards
A.4 Financial services regulations and requirements
Learners will be able to identify and explain the key regulations and requirements governing financial services, highlighting their purposes and impacts on the industry.
19
cards
A.5 Consumer Protection Laws
Learners will be able to identify and explain the key consumer protection laws and their impact on consumer rights and business practices.
20
cards
A.6 Fiduciary standard and application
Learners will understand and describe the fiduciary standard and its application, including how it dictates the ethical and legal obligations of a fiduciary to act in the best interest of their clients.
20
cards
B.7 Financial Planning Process
Learners will understand the steps involved in the financial planning process, including setting goals, gathering relevant financial information, analyzing financial status, developing a plan, implementing the plan, and monitoring and revising the plan as necessary.
28
cards
B.8 Financial Statements
Learners will understand and interpret the key components and purposes of financial statements, including balance sheets, income statements, and cash flow statements, to assess an organization's financial health and performance.
29
cards
B.9 Cash Flow Management
Learners will be able to identify and explain key strategies and practices for effective cash flow management to ensure a business maintains adequate liquidity for operations.
30
cards
B.10 Financing Strategies and Debt Management
Learners will be able to identify and explain various financing strategies and debt management techniques to optimize financial performance and sustainability.
39
cards
B.11 Economic concepts
Learners will understand and apply fundamental economic concepts such as supply and demand, market equilibrium, and the roles of consumers and producers in the economy.
40
cards
B.12 Time value of money concepts and calculations
Learners will understand and apply fundamental economic concepts such as supply and demand, market equilibrium, and the roles of consumers and producers in the economy.
15
cards
B.13 Education needs analysis
Learners will be able to identify and evaluate various factors impacting education funding needs, including tuition rates, living expenses, inflation rates, and potential financial aid, to develop a comprehensive plan that ensures the client's educational goals are financially achievable.
14
cards
B.14 Education savings vehicles
Learners will be able to identify and explain the characteristics, benefits, and limitations of different education savings vehicles, including 529 plans, Coverdell Education Savings Accounts, and UGMA/UTMA accounts.
15
cards
B.15 Education funding
Learners will be able to identify and explain the various savings vehicles and tax-advantaged plans available for education funding, including 529 Plans, Coverdell Education Savings Accounts, and UGMA/UTMA accounts.
14
cards
B.16 Gift / income tax strategies
Learners will be able to identify and apply various gift and income tax strategies to optimize financial planning outcomes for individuals and families.
15
cards
C.17 Principles of risk and insurance
Learners will be able to identify and explain the fundamental principles of risk and insurance, including risk identification, assessment, and management strategies, as well as the role and types of insurance in mitigating financial loss.
9
cards
C.18 Analysis and evaluation of risk exposures
Learners will be able to explain the process and methodologies for analyzing and evaluating various risk exposures in order to determine appropriate risk management strategies in the financial planning process.
8
cards
C.19 Health insurance and health care cost management (individual and group)
Learners will be able to identify and compare the key features and cost-management strategies of individual and group health insurance plans, including deductibles, premiums, copayments, and coverage limits.
10
cards
C.20 Disability income insurance (individual and group)
Learners will be able to identify and differentiate between the key features, benefits, and limitations of individual and group disability income insurance policies.
10
cards
C.21 Long-term care insurance and long-term case planning (individual and group)
Learners will be able to identify and compare the key features, benefits, and limitations of various long-term insurance and long-term care planning options for individuals and groups, understanding their implications in the financial planning process.
7
cards
C.22 Qualified and Non-Qualified Annuities
Learners will be able to identify and differentiate between qualified and non-qualified annuities, including their tax implications and contribution limits, and be able to recommend the correct financial planning strategies for each type.
10
cards
C.23 Life insurance (individual and group)
Learners will be able to understand the key differences, benefits, and considerations between individual and group life insurance policies, including coverage options, cost implications, and the impact of policyholder circumstances.
10
cards
C.24 Business owner insurance solutions
Learners will be able to identify and describe the key types of insurance solutions available to business owners, including their purposes and benefits, to ensure comprehensive protection of business assets and continuity.
10
cards
C.25 Insurance needs analysis
Learners will understand how to conduct an insurance needs analysis, including identifying client risk exposure and determining the appropriate type and amount of insurance coverage to mitigate those risks.
10
cards
C.26 Insurance policy and company selection
Learners will be able to identify and evaluate the key factors involved in selecting insurance policies and companies, including financial stability, policy features, and premiums, to ensure alignment with a client's financial planning objectives.
12
cards
D.27 Characteristics, uses and taxation of investment vehicles
Learners will beg able to identify the characteristics, uses, and taxation implications of various investment vehicles to effectively advise clients on investment strategies suitable to their financial goals and tax situations.
9
cards
D.28 Types of investment risk
Learners will be able to identify and differentiate between various types of investment risks, including market, credit, liquidity, operational, and systemic risks, as they pertain to investment decision-making and portfolio management.
12
cards
D.29 Market cycles
Learners will be able to identify and describe the various phases of market cycles, including expansion, peak, contraction, and trough, and explain how these phases can impact investment decisions and financial planning strategies.
10
cards
D.30 Quantitative investment concepts and measures of investment returns
Learners will be able to identify and explain key quantitative investment concepts and measures of investment returns, including but not limited to standard deviation, Sharpe ratio, beta, and alpha, and demonstrate how they influence the investment decision-making process.
10
cards
D.31 Asset allocation and portfolio diversification
Learners will be able to identify and explain the principles of asset allocation and portfolio diversification, including how they minimize risk and impact investment performance.
9
cards
D.32 Bond and stock valuation concepts
Explain the fundamental principles and methodologies used for valuing bonds and stocks, including the present value concept, dividend discount models for stocks, and the impact of interest rates on bond prices.
10
cards
D.33 Portfolio development and analysis
Learners will understand how to develop and analyze investment portfolios, including the selection of assets, diversification strategies, and the assessment of portfolio performance in relation to client goals and risk tolerance.
9
cards
D.34 Investment strategies
Learners will be able to identify and explain various investment strategies, including diversification, asset allocation, and rebalancing, and how they apply to different client profiles and financial goals.
7
cards
D.35 Alternative investments and liquidity risk
Learners will be able to identify and explain the characteristics and liquidity risks associated with alternative investments, including real estate, commodities, hedge funds, private equity, cryptocurrencies, and tangible assets.
10
cards
E.36 Fundamental and current tax law
Learners will be able to identify and explain the key components of fundamental and current tax law relevant to financial planning, including income tax, estate tax, and gift tax, to effectively apply this knowledge in creating tax-efficient strategies for clients.
10
cards
E.37 Income tax fundamentals and calculations
Learners will be able to identify and apply the fundamental concepts and calculations related to income tax, including taxable income determination, tax rates, deductions, and credits.
3
cards
E.38 Characteristics and income taxation of business entities
Learners will be able to identify and describe the characteristics and income taxation of various business entities, including sole proprietorships, partnerships, corporations, and S corporations, highlighting their unique tax implications and legal structures.
10
cards
E.39 Income taxation of trusts and estates
Learners will be able to understand the intricacies of income taxation applicable to trusts and estates.
10
cards
E.40 Tax reduction/management techniques
Learners will be able to understand techniques for reducing and managing taxes effectively in order to optimize financial planning outcomes.
8
cards
E.41 Tax consequences of property transactions
Learners will be able to understand the tax implications associated with property transactions, including capital gains, depreciation recapture, and like-kind exchanges.
11
cards
E.42 Tax implications of special circumstances
Learners will be able to understand the tax implications associated with special circumstances such as gifts, inheritance, divorce, and bankruptcy.
9
cards
E.43 Charitable/philanthropic contributions and deductions
Understand the principles and regulations governing charitable and philanthropic contributions for tax deductions.
10
cards
F.44 Retirement needs analysis
Learners will develop proficiency in conducting comprehensive retirement needs analyses to accurately assess clients' financial goals, risks, and resources for effective retirement planning strategies.
10
cards
F.45 Social Security and Medicare planning
Learners will develop proficiency in understanding Social Security and Medicare planning principles to effectively advise clients on optimizing retirement benefits and healthcare coverage.
10
cards
F.46 Eldercare and special needs planning
Learners will develop understanding in eldercare and special needs planning strategies to effectively address the financial needs and challenges of elderly and special needs individuals.
9
cards
F.47 Types of retirement plans
Learners will be able to identify and differentiate between various types of retirement plans, including defined contribution, defined benefit, and individual retirement accounts.
7
cards
F.48 Qualified plan rules and options
Learners will develop greater understanding of rules and options governing qualified plans to effectively advise clients on retirement planning.
8
cards
F.49 Non-qualified plan rules and options
An employer sponsored retirement ...,
An irrevocable trust set up to ho...,
A non qualified plan designed to ...
10
cards
F.50 Key factors affecting plan selection for businesses
Learners will develop a comprehensive understanding of the key factors influencing plan selection for businesses in financial planning.
10
cards
F.51 Distribution rules and taxation
Learners will better understand the distribution rules and taxation implications pertinent to retirement accounts and investment portfolios.
10
cards
F.52 Retirement income and distribution strategies
Learners will develop a better understanding of effective retirement income and distribution strategies in order to optimize financial plans and ensure client satisfaction.
10
cards
F.53 Business succession planning
Learners will develop a comprehensive understanding of business succession planning strategies and their implications.
10
cards
G.54 Property titling and beneficiary designations
Learners will better understand the intricacies of property titling and beneficiary designations for effective estate planning and asset transfer strategies.
18
cards
G.55 Strategies to transfer property
Master strategies to effectively transfer property in financial planning scenarios.
17
cards
G.56 Estate and Incapacity Planning Documents
Understand the various essential estate and incapacity planning document, including wills, trusts, powers of attorney, and healthcare directives.
39
cards
G.57 Gift, estate, and GST tax compliance and calculation
Learners will better understand the the intricacies of gift, estate, and GST tax compliance and calculations.
9
cards
G.58 Sources for estate liquidity
Learners will develop an understanding of and be able to identify various sources for estate liquidity, including life insurance, savings, investment accounts, and loans.
10
cards
G.59 Types, features, and taxation of trusts
Learners will develop a comprehensive understanding of the types, features, and taxation principles of trusts in order to effectively advise clients.
10
cards
G.60 Marital deduction
learnings will learn the intricacies of the Marital Deduction, including its application, limitations, and impact on estate planning strategies.
10
cards
G.61 Intra-family and other business transfer techniques
Learners will develop an understanding of techniques used for intra-family and other business transfers to effectively navigate complex financial planning scenarios.
10
cards
G.62 Postmortem estate planning techniques
Learners will understand postmortem estate planning techniques to effectively manage the distribution of assets and minimize tax liabilities.
9
cards
G.63 Planning for divorce, unmarried couples and other special circumstances
Learners will develop proficiency in understanding and applying financial planning strategies tailored to divorce, unmarried couples, and unique circumstances.
9
cards
G.64 Planning for special needs and circumstances
Learners will learn intricacies of planning for special needs and circumstances, including disability, long-term care, and estate considerations.
10
cards
H.65 Client and planner attitudes, values, biases
Learners will develop an understanding of how client and planner attitudes, values, and biases influence financial planning decisions and interactions.
6
cards
H.66 Behavioral finance
Learners will better understand key principles and concepts of behavioral finance to effectively analyze and address client biases and emotions in financial decision-making processes.
7
cards
H.67 Sources of money conflict
Learners will be able to identify and differentiate between various sources of money conflict to effectively manage financial disputes.
10
cards
H.68 Principles of counseling
Learners will developing proficiency in applying principles of counseling to financial planning scenarios, enhancing client-advisor communication and rapport.
10
cards
H.69 General principles of effective communication
Learners will develop an understanding of and apply the fundamental principles of effective communication, including clarity, empathy, active listening, and adapting communication styles, essential for successful client interactions.
10
cards
H.70 Crisis events with severe consequences
Learners will develop the ability to identify, analyze, and strategize responses to crisis events with severe consequences in financial planning, ensuring client preparedness and resilience.
10
cards
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