Multiple Part A: 1 From 1 July 2012, clients have the option to "opt-in" to receive ongoing advice services and fees every A 6 months B. 12 months C 18 months D. 2 years 2. Financial planners have the potential for a conflicting ethical relationship between themselves, their licensee and their clients. Which of the following statements best describes this conflict? A They get paid by the licensee depending on how much business they write rather than the quality of advice they provide They owe a duty of care to their clients, but at the same time have contractual obligations to their B. licensee They are licensed by their company to provide only the services the company is authorised to provide C D. Their licensee will only allow them to write business within the confines of the Approved Product List which means they may not have a product suitable for their client's needs 3. Sai is a doctor in private practice. She earns a good income and has to pay a lot of tax. Her financial planner has put her into a number of tax reduction strategies, and she has heavily borrowed to fund these strategies. Each year to lower her tax bill, she borrows more. What is the key issue with this. strategy? She needs to have good income protection insurance so that if she could not earn a living she would still be able to meet her payments A. B. Even with her high income, she may not be able to raise additional debt each year C. At some point, the level of debt she has will make her uncomfortable and she may not be able to unwind without taking significant losses D. Investing purely for 'tax' management is not an appropriate strategy. She should be investing using an appropriate asset allocation and specific asset selection