QUESTION 7

1. Why is charging a fee as a percentage of investment assets a challenge when servicing a book of clients mostly composed of retirees?

   		Retirees have limited resources to pay such a fee.
   		Retired clients are more demanding than younger clients.
   		Retirees drawdown portfolios which reduces the asset level on which fees are levied.
   		Regulators do no permit charging a percentage of assets fee on retiree accounts.

1 points

QUESTION 8

1. According to the article Banning fund trailer fees: The latest arguments for and against, what key reason(s) do opponents of trailer fees provide?

   		Lack of transparency.
   		Advisor conflict of interest.
   		Inefficiency.
   		A & B.

1 points

QUESTION 9

1. According to the article Pedal to the Metal: Grow Digital Engagement Now, discussing intergenerational wealth transfer with their clients is a missed opportunity for advisors. What factor(s) does the author cite to support his claim?

   		Over 50% of Millennials would consider their parents advisor.
   		The Millennials are set to be the greatest inheritance generation.
   		Most Millennials do not have a financial advisor.
   		All of the above.

1 points

QUESTION 10

1. According to the article Subscription-based financial advice begins to take hold in Canada, Schwab's subscription model would not be advantageous for which wealth segment?

   		High net worth clients.
   		The mass market.
   		Clients seeking goal-based financial planning.
   		Financial planners seeking a steady revenue stream.

1 points

QUESTION 11

1. Choose the item in column 2 that best matches each item in column 1

   - A. B. C. D. E. F. G. H. I. J. K. L. A fee structure that declines as client assets increase - A. B. C. D. E. F. G. H. I. J. K. L. A fee structure that declines with longer holding periods - A. B. C. D. E. F. G. H. I. J. K. L. A reason why people might delay their retirement - A. B. C. D. E. F. G. H. I. J. K. L. The main basis of financial services segmentation - A. B. C. D. E. F. G. H. I. J. K. L. One reason why financial services regulation has increased - A. B. C. D. E. F. G. H. I. J. K. L. A way to grow your business if you offer quality service - A. B. C. D. E. F. G. H. I. J. K. L. A risk presented by a low interest rate environment - A. B. C. D. E. F. G. H. I. J. K. L. A product used primarily in robo-advisory portfolios - A. B. C. D. E. F. G. H. I. J. K. L. A distribution channel dedicated to the self-directed investor - A. B. C. D. E. F. G. H. I. J. K. L. An online distribution channel emerging as a direct competitor to in-person financial planning - A. B. C. D. E. F. G. H. I. J. K. L. A firm that sells securities without a prospectus - A. B. C. D. E. F. G. H. I. J. K. L. A job in the investment industry that requires you to have either your CFA or CIM

   A. Discount brokerage B. Exempt Market Dealer C. Asset levels D. Robo-advisory E. Higher debt levels F. Client Direct Fee G. Complexity of client situations H. Stretching for yield I. Referrals J. Deferred fee K. ETFs L. Porfolio Manager

12 points

QUESTION 12

1. When an employer switches from a Defined Benefit Plan (DB) to a Defined Contribution Plan (DC), what risk(s) are they transferring to the employee?

   		Longevity
   		Liquidity
   		Investment
   		A & B
   		A & C
   		B & C