Professional Conduct

Question 1

4 forms of discipline

Answer 1

private censure, public letter of admonition, suspension, & revocation

Question 2

Fair Debt Collection Practices Act

Answer 2

Prohibits debt collectors from engaging in certain practices, such as contacting a debtor at his place of employment if the employer objects, harassing or intimidating the debtor, or using false and misleading approaches.

Question 3

Standard A.2

Answer 3

Integrity, states that a CFP professional may not engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.

Question 4

Consumer Credit Protection Act

Answer 4

Also known as the Truth in Lending Act

This requires lenders, before extending credit, to disclose both the dollar amount of finance charges and the APR, as well as other loan terms and conditions.

Seen most often with mortgage agreements and personal loans