Chap 1 Flashcards

1
Q

What does having your license demonstrate? (4)

A

1) commitment to professional development
2) competency in recommending suitable products
3) ethical practices
4) responsibility to protect integrity of industry

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2
Q

Name 3 rewards of satisfying clients

A

1) come back for business
2) referrals
3) buy other products from you in future

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3
Q

Name 2 reasons why client service is important

A

1) MFs are subject to sales regulations/disclosure requirements that demands specialized client approach
2) Rapidly changing FS environment requires understanding of characteristics of many products

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4
Q

Name and describe 3 types of responsibilities for a MF rep

A

1) Legal - investment must be suitable
2) Ethical - put client needs first
3) Professional - provide the best service

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5
Q

What are the 5 parts of the KYC profile

A

1) financial goals
2) financial circumstance
3) personal circumstance
4) investment knowledge
5) risk tolerance

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