Question

In: Finance

1 Which of the following is most likely to take place in the Analyze & Evaluate...

1 Which of the following is most likely to take place in the Analyze & Evaluate Client’s Financial Status step?

a. After meeting with David, you prepare his current financial statements.

b. In your meeting with Rosie, you sell her a new life insurance policy.

c. During your meeting with Alexis, she provides you with several documents including her employee

benefits information and bank statements.

d. You provide your client with a description of the fees and costs of your financial planning services

2 Which of the following is usually included in an engagement letter?

a. Defined parties to the agreement.

b. Description of the fees and costs.

c. Time horizon for the work to be completed.

d. All of the above. .

Expert Solution

1) Correct option:

a. After meeting with David, you prepare his current financial statements.

b is wrong as it is implemetation step

c is wrong as it is gathering information step

d is wrong as it is first step of Establishing and defining the professinal relationship

2) A proper engagement letter hsall include the parties involved, the cost of the service and the time frame.

Hence option d is correct as all the options are apllicable.

jeff jeffy answered 2 years ago

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