BU - Fitness Standards

Question 1

3 categories of adverse conduct relevant to fitness

Answer 1

Conduct that is unacceptable - permanently barred
Conduct that is presumed to be unacceptable - can be petitioned
Conduct that may reflect adversely upon the individual’s integrity or fitness, the profession or the CFP marks - can be petitioned

Question 2

Conduct deemed unacceptable

Answer 2

Felony conviction for theft, embezzlement or other financially based crimes
Felony conviction for tax fraud or other tax related crimes
Felony conviction for any degree of murder or rape
Felony conviction for any other violent crime in the last 5 years
Revocation of a financial professional license (except admin in nature)

Question 3

Conduct presumed unacceptable

Answer 3

2+ personal or business bankruptcies
Revocation or suspension of a non-financial professional license (unless admin in nature)
Suspension of a financial professional license (except admin in nature)
Felony conviction for non-violent crimes within the last 5 years
Felony conviction for violent crimes other than murder or rape that occurred 5+ years ago

Question 4

Other adverse conduct

Answer 4

customer complaints
arbitrations or other civil proceedings
felony convictions for non-violent crimes that occurred 5+ years ago
misdemeanor convictions
employer investigations and terminations