Professional Responsibilities

Question 1

What is a person whose work is to calculate statistical risks, premiums, and life expectancies for insurance and pension plans called?

Answer 1

Actuary

Question 2

What is an individual who is qualified to calculate the value of defined benefit pension plans called?

Answer 2

Pension Valuator

Question 3

Why does the IDFA recommend not working with couples pursuing pro se divorce?

Answer 3

Potential Liability

Question 4

What concern would arise if your existing wealth management clients were to divorce

Answer 4

Conflict of interest

Question 5

What are the tenants of the IDFA Code of Ethics

Answer 5

Integrity, Competence, Objectivity, Fairness, Confidentially, Professionalism, Scope, Compliance, Unauthorized Practice of Law, Support

Question 6

Telling a client what they “Should” ask for or receive can be perceived as?

Answer 6

Unauthorized Practice of Law

Question 7

Some Collaborative Practice Groups ban providing wealth management or investment services after the divorce is finalized

Answer 7

True