8 CFP Board's Procedural Rules Flashcards
A suspension of a CFP® professional’s Certification and Trademark License during the pendency of proceedings is referred to as a(n)
An interim suspension is a suspension of a CFP® professional’s Certification and Trademark License during the pendency of proceedings.
An Order of Interim Suspension is a temporary sanction and does not preclude CFP Board from imposing a final sanction.
minimum amount of time that a DEC-imposed suspension must last.
Per the CFP Board Procedural Rules, the DEC may issue a suspension for a specified period, not less than 90 calendar days or greater than five years.
According to the Fitness Standards, which of the following is a presumptive bar for CFP® certification?
Arbitrations and/or civil proceedings are categorized as ‘Other Adverse Conduct.’
Revocation of a financial license for non-administrative reasons and felony convictions for a financial-based crime are considered ‘Unacceptable’ and will always bar a candidate or person eligible for reinstatement from certification.
A felony conviction for non-violent crimes (including perjury) within the last five years is a presumptive bar from certification unless the individual petitions the Disciplinary and Ethics Commission (DEC) and the DEC grants the petition or permits the individual to reapply for certification later.
Each of the following have a 45 calendar day deadline EXCEPT:
Documents
Witnesses
Written Statements
Stipulations
Witness List is due within 30 days : No later than 30 calendar days after delivery of the Complaint or the filing of a Petition, or by a time the DEC Chair otherwise specifies, each party must file a notice identifying all witnesses.
Which of the following only applies to Respondents who are currently not CFP® professionals?
Temporary Bar
Permanent Bar
Temporary Bar and Permanent Bar status only applies to Respondents that are not currently CFP® professionals.
If a Candidate for CFP® Certification had their real estate license suspended due to non-payment of their annual dues, how would CFP Board categorize their conduct using the Fitness Standards guidelines?
Suspension of a real estate license (i.e., a non-financial license) because it was not renewed in a timely manner is considered ‘administrative in nature’ and will not reflect adversely on the Candidate’s ability to earn the CFP® marks.
