General Principles Of Financial Planning 2017 2017 Edition Keir Educational Resources - Solutions

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List three ways that a cook might measure serving portions to ensure proper portion control.
What is a standard recipe, and why is it important for a foodservice operation to use standard recipes?
A small town bar/restaurant wants to jump on the trend of boutique cocktails, local wines, and American microbreweries to drive its alcohol sales. The manager hopes increased beverage sales will save the company, which currently loses customers every time it tries to raise its average entrée price
A small town bar/restaurant wants to jump on the trend of boutique cocktails, local wines, and American microbreweries to drive its alcohol sales. The manager hopes increased beverage sales will save the company, which currently loses customers every time it tries to raise its average entrée price
Imagine that you are an off-premise caterer with a client who wishes to offer a cocktail hour before a sit-down meal at his private event. What advice would you give him for selecting beverages to serve at the cocktail hour and during the meal? If the event is a private party on the client’s
Create a beverage menu (item listings only) for a residential college dining hall.
Imagine that you are a menu planner for a boutique restaurant that makes all of its beverages from scratch. Create one soda, one flavored iced tea, one flavored lemonade, one juice beverage, and one espresso drink that you could prepare in-house but that cannot be purchased commercially as a
Imagine that you are a mixologist in an upscale restaurant. Think of three mixers (syrups, infusions, flavorings, etc.) that you could create in-house for use in your scratch-made cocktails.
Do an Internet search to find a fairly extensive beer menu for a restaurant. What headings does the menu use to divide its beer offerings?
Consider two different beverage menus. One has eight pages of wine listings, two pages of beer listings, and two pages of cocktails. The other fits all of its alcoholic and nonalcoholic beverage offerings on a single page. Describe the restaurant for which each of these menus would make sense.
List one way that a menu planner or server can safely increase beverage revenue.
List five categories of nonalcoholic beverages that might be found on a restaurant menu.
If a menu planner does not list liquor drinks under a single heading of “Cocktails” or “Liquor,” how might these drinks be categorized? List five possible headings.
How do cocktail menu descriptions differ from descriptions of other menu items?
In an ethnic restaurant that serves beer, list the two countries from which at a minimum the beer options should be sourced.
List four different types of beer styles.
What is the standard portion size for one drink of each for wine, beer, and 80-proof liquor?
What is a bin number, and why is it used?
List four bits of information that are normally included in the name of a New World wine.
List four variables that may provide variety and balance to a wine list.
Imagine a chicken-themed restaurant (semi à la carte)where every single dish includes chicken in large portions.The menu headings are Appetizers, Soups, Entrée Salads, Sandwiches, and Entrées. There are no desserts, and the beverages, not listed on the menu, are not made from chicken
Describe in detail an original entrée of your creation.Make sure that it incorporates the concepts of variety and balance on the plate. Describe all of the ways in which the dish exhibits variety and balance.
Name three entrées that might generate scraps or leftovers through their production. Name the ingredients that would be left over and create a menu item (not an entrée) that could utilize those leftovers.
If you were to open your own restaurant, what pricing style would you prefer to utilize? Why?
When dining out in a casual restaurant, how many menu items do you consider ideal to see under each heading? How would the number differ if you were dining at an upscale restaurant?
Describe a restaurant (or other foodservice business)experience you have had in which the menu was not effective in your opinion. What aspect of the menu made it an unpleasant experience for you?
List some menu headings you have seen in a restaurant that are not among the traditional headings listed in the chapter.
List two examples of ways in which a menu planner can control food cost through product utilization(i.e., use of scraps other than throwing them in the trash).
How does a menu impact work flow in the kitchen? What can a menu planner do to prevent kitchen bottlenecks?
How do menu headings differ from a breakfast menu to a lunch menu?
List five common headings used for a lunch or dinner menu.
List three headings into which breakfast entrées might be subdivided.
Under what circumstances might a business use the same ingredient (other than basic pantry staples)in multiple dishes? (List two possibilities.)
For what variables are variety and balance most relevant?
What are the four approaches to menu pricing described in this chapter that impact menu headings?
This chapter provides two examples of menus that emphasize nutrition. One is a cycle menu for an elementary school, and the other is a restaurant menu.Analyze each from the perspective of a potential customer. What dietary needs does each menu address?How does the communication of dietary
Of the several specialized diets described in the chapter, which is the most common among your friends and family? How easily are those people able to find food that meets their dietary needs?
What nutrition or diet issues have you heard in the news in the past three months? How could a menu planner address this issue? Should a menu planner or restaurant bother addressing this issue? Why?
Some restaurateurs have argued that the obesity crisis in America is not due to restaurant food but rather to Americans’ lack of physical activity.Why do you think restaurateurs might make this argument? Is there any problem that stems from the fact that restaurateurs are making this case?
When you go out to eat, how big a factor is a dish’s nutritional value in your decision making? Can you think of anyone you know for whom nutrition or diet plays a bigger role in their menu selection?
Think of a restaurant you have visited that markets its healthy menu options. How were the menu items identified? What type of diet was addressed in those options?
Select one of the specialized diets common among Americans. Describe the principles of that diet and create a three-course menu that meets the needs of those dieters.
Create a three-course menu (one option for each course) that qualifies as healthy and nutritious for the general public.
List three guidelines for creating a healthy menu option for the general public.
Write a common menu phrasing for a warning about eating undercooked, potentially hazardous food.
List the common categories of food allergies.
What does fiber do, and what foods are significant sources of fiber?
Name three vitamins and minerals that are concerns for modern American diets.
What is a complete protein, and how does one eat complete protein from only plant products?
What is the difference between HDL and LDL?How does consumption of each type of fat impact the levels of HDL and LDL?
How many calories per gram are provided by carbohydrates, lipids, proteins, and alcohol?
What is a captive market, and why is nutrition an important consideration for a captive market?
List one reason why nutrition should be considered in the menu-planning process.
Imagine that you are the general manager for an existing restaurant. What kind of information would you want to know from the various stakeholders before creating a new menu?
Envision a restaurant concept and describe it.Describe the kind of employees, the kitchen layout, and the kitchen equipment you would need to support that concept across several consecutive menus.
Describe the demographic and psychographic qualities that define the target market into which you personally fall. What kinds of foodservice establishments are those in that market segment likely to patronize?
A psychographic study shows that the community spends the majority of their disposable income on recreational activities for their children (sports, dance, music, movies, travel, etc.), not on food. What kind of foodservice business might you set up in this community to appeal to the local market?
A nearby community has the demographic makeup described in question
A demographic study shows that the largest percentage of the local population is age 30–50 with a middle-class income and an average household size of 3.7. Many of them own their own homes and at least one car. Describe a restaurant concept that would appeal to this target market. (Describe the
Who are the typical stakeholders who contribute to the menu-planning process in a new business?Who is normally added to the process in an existing business?
How does a kitchen’s space and work flow impact a menu?
If a chef wants to create a menu that exceeds his staff’s ability, why can’t he just hire new staff?
List the two primary tools that help to define a market.What type of information does each one provide?
What role does a menu play in relation to a business’s brand?
List four variables that help to define a menu.
Which of the following bodies can impose a penalty on a CFP® designee that is not subject to appeal under the Code’s Disciplinary Rules and Procedures?(1) The Hearing Panel(2) The Inquiry Panel(3) The Board of Professional Review A. (1) only B. (3) only C. (1) and (2) only D. Neither (1), (2),
All of the following may be part of the disciplinary process of CFP®certificants, EXCEPT:A. CFP Board’s Advisory Counsel B. Disciplinary and Ethics Commission C. Hearing Panel D. Inquiry Panel
Which of the following would be grounds for revocation?(1) Any act or omission which violates the provisions of the Rules of Conduct(2) Any act or omission which fails to comply with the Practice Standards(3) Failure to respond to a request by the Commission(4) Obstruction of the Commission or CFP
Which of the following has the final decision of disciplinary action against a CFP® certificant?A. CFP Board B. CFP Board Counsel C. CFP Board’s Disciplinary and Ethics Commission D. Hearing Panel
All of the following are true in regard to suspensions under CFP Board’s Disciplinary Rules and Procedures, EXCEPT:A. It may be an interim suspension B. It may be temporarily lifted if the certificant is acquitted of the underlying crime C. May never exceed five years D. May not be less than
An individual whose rights to use CFP® marks have been revoked may be reinstated under which of the following situations?A. After a hearing with CFP Board’s Appeals Committee B. After acquittal of the serious crime that was cause for revocation C. After five years and successfully passing the
Which of the following bodies can impose a penalty on a CFP® designee that is not subject to appeal under the Code’s Disciplinary Rules and Procedures?(1) The Hearing Panel(2) The Disciplinary and Ethics Commission(3) The CEO and Board of Directors of CFP Board.A. (1) only B. (3) only C. (1) and
The CFP Board’s Practice Standards require which of the following?(1) Basing the financial plan on assumptions specified by the client(2) Presenting multiple alternatives to the client’s current course of action A. (1) only B. (2) only C. Both (1) and (2)D. Neither (1) nor (2)
If a financial planner is unable to obtain all the relevant quantitative information and documents from the client needed to make recommendations, which of the following actions by the planner is acceptable under the CFP Board’s Practice Standards?(1) The planner may terminate the engagement.(2)
With regard to the first step in the financial planning process, establishing and defining the relationship with the client, the CFP Board’s Practice Standard requires which of the following?(1) Disclosing the planner’s compensation arrangement(s)(2) Reducing the scope of the engagement to a
Which of the following has not been developed as a Practice Standard by the CFP Board of Standards?A. Implementing the financial planning recommendations B. Establishing and defining the relationship with the client C. Developing and presenting the financial planning recommendations D. Analyzing
Which of the following statements concerning the CFP Board’s Practice Standards is (are) correct?(1) They apply exclusively to fee-only financial planners.(2) Violation of one or more of them creates a presumption in court that a legal duty has been breached.(3) They are enforceable by the CFP
The purpose of the CFP Board’s Practice Standards is to accomplish all of the following, EXCEPT:A. To assure the public that CFP® licensees practice their profession according to an established set of norms B. To help advance the professionalism of financial planning C. To ensure that financial
All of the following are true of a candidate whose conduct has fallen under the “Presumptive Bar,” EXCEPT:A. Is permanently barred from certification B. The DEC may grant the petition C. The DEC may deny the petition D. The CFP Board makes the final decision.
John Nelson is a financial planner and a CFP® practitioner. A client has contacted Nelson for investment advice. The client wants a recommendation from Nelson on a good investment that can be made for cash and that will not attract the attention of the IRS. The client also insists that Nelson must
In establishing and defining the relationship between a financial planner and a client, which of the following are among the planner’s obligations?(1) To disclose how much money the planner will make from the engagement(2) To define the time frame for the engagement(3) To draw up a written
Which of the following items of information must a planner disclose to a client, according to the CFP Board’s Practice Standards?(1) Any conflicts of interest the planner has(2) Other sources of compensation for the planner(3) The expected duration of the engagement A. (1) only B. (3) only C. (1)
Which of the following statements concerning the CFP Board’s Practice Standards is (are) correct?(1) They specify a step-by-step procedure to be followed at each stage of the financial planning process.(2) They are applicable to all who are subject to the Board’s Code of Ethics and Professional
Which of the following aspects of the financial planning process must be in writing?(1) Defining the scope of the engagement(2) Disclosure of the planner’s material conflicts of interest(3) Disclosure of personal and economic assumptions used by the planner(4) Informing the client about the
Under the Practice Standards of the CFP Board, which of the following should be mutually defined or agreed upon by the planner and client?(1) The scope of the engagement(2) The client’s goals, needs, and priorities(3) Alternatives to the client’s current course of action(4) Selection of
The Code of Ethics and Professional Responsibility of the CFP Board of Standards applies to which of the following groups?(1) CFP® designees who are actively involved in the practice of personal financial planning(2) All candidates for the CFP® designation who are registered as such with the CFP
Susan Donohue, a CFP® licensee, is preparing a brochure to give to prospective clients to disclose information about her firm. According to the Code of Ethics and Professional Responsibility, all of the following information must appear in the brochure, EXCEPT:A. The identity of insurance
Which of the following statements concerning the Rules of Conduct is(are) correct?(1) A designee’s compensation may not be more than a fair and reasonable amount.(2) A designee must disclose to clients all sources of compensation that the designee will receive from the services to be provided.A.
Under the Code of Ethics and Professional Responsibility, a CFP®licensee may generally not disclose confidential information obtained from a client. Which of the following statements describe situations in which a CFP® licensee may disclose such confidential information?(1) The client sues the
The Code of Ethics and Professional Responsibility of the CFP® Board of Standards requires all of the following, EXCEPT:A. Objectivity in providing professional services to clients B. Compliance with continuing education requirements established by the CFP® Board C. Disclosure to the client of
Which of the following statements concerning the Principles or Rules of the Code of Ethics and Professional Responsibility of the CFP® Board of Standards is (are) correct?(1) The Principles are broader and more aspirational than the Rules.(2) All of the Rules are applicable to the activities of
A CFP® designee may, without the client’s consent, reveal confidential information about the client for which of the following purposes?(1) To defend the CFP® designee against a charge of wrongdoing brought by the client(2) To comply with a court order to disclose the information(3) To keep the
Ruth Boris, a CFP® practitioner, discovered that another financial planner in her office, who is not a CFP® practitioner or candidate, had taken money from a client’s account and then returned it six months later. To whom should Ruth report this information?A. No one, reporting is unnecessary
George Thomas, a CFP® practitioner, reviewed the federal income tax returns brought to him by a new client and discovered a computation error made by the CFP® practitioner who prepared the returns. The error means that the client has underpaid his income tax. Who should George Thomas notify about
(Published question released January, 1999; updated)A CERTIFIED FINANCIAL PLANNERTM licensee obtains a new client.During the fact-finding process, the CFP® licensee discovers that the client’s previous adviser, also a CFP® licensee, had filed several tax forms incorrectly, with computational
(Published question released January, 1999; updated)A local businessperson approaches a CFP® licensee for assistance with an investment-related tax problem. The client’s previous tax preparer had suggested the purchase of a variety of tax-advantaged investments to reduce the client’s current
Which of the following is (are) among the types of closed-ended questions?(1) Leading questions(2) Either/or questions(3) True/false questions A. (1) only B. (3) only C. (1) and (3) only D. (2) and (3) only E. (1), (2), and (3)
All of the following statements concerning open-ended questions are correct, EXCEPT:A. They tend to limit the client’s responses and guide him or her to a fixed goal.B. They require the client to develop his or her thoughts.C. The client has the opportunity to express his or her values and
All of the following statements concerning responding during active listening are correct, EXCEPT:A. The counselor uses verbal and nonverbal cues to encourage the client to speak or to keep on speaking.B. The counselor paraphrases the client’s responses to encourage discussion.C. The counselor
All the following are types of leading responses, EXCEPT:A. Interpretive B. Exploratory C. Encouragement D. Suggestion

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