1. An important consideration when implementing a portfolio for a new client with existing assets is:

Making sure the new assets are similar to the existing assets.

Making sure there are no adverse tax consequences.

Ensuring that the previous financial advisor understands why the client is leaving.

Opening the new account in exactly the same name as the old one for tax reasons.

2.During the first meetings with a prospective client, the best questions are:

Close-ended.

Open-ended.

Ones about their parents.

There are no questions that are better than others

3.Fees are generally never discussed until the last or next-to-last meeting with a prospect. True/False

4. Generally, the later one elects to collect their Social Security benefits, the larger the amount. True/False

5. It is important for risk tolerance assessment to be made regarding the upside and downside of investments. True/False

6.Most advisors say, the most difficult part of creating a client profile is accurately assessing the clients:

Risk tolerance.

Complete asset picture.

Tax situation.

Financial objectives.

7.The consultative sales process is a fixed, four-step process to which every financial advisor should closely adhere. True/False

8.The following are typical challenges that an investor may have:

A risk of outliving his or her assets.

A need for a predictable income stream.

Both the risk and the need.

None of the above.