Liberty BUSI 352 Quiz 1 Answers Complete Solutions
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Question 1 Which of the following are components of “passive listening”? 1: Listening in a normal social setting, such as a sermon. 2: Communication rests on one speaker. 3: The listener screens out some information. 4: The listener is thinking about what to say in response, which hampers listening.
Question 2 You are a relatively new financial planner. You have been working for an investment firm in the United States and have decided that you would like to add more credibility to your practice. Which of the following professional credentials would provide you with the most credibility since it is the oldest and best known?
Question 3 Which of the following are NOT heuristics or cognitive biases discussed in this chapter that can lead to less than optimal decisions by a normal investor?
Name: Jennifer Lucas
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Question 4 After meeting with your new client, Sid, you prepared his current financial statements. Which part of the financial planning process were you engaged in?
Question 6 Which of the following statements are true? 1: There has been a movement in recent times for the financial industry to be more in touch with psychology and sociology due to their effect and persuasiveness in financial matters. 2: There has been a movement in recent times for the financial industry to focus on asset prices and ignore psychology and sociology issues. 3: Behavioral Finance has nothing to do with issues concerning psychology and sociology.
Question 8 Steve Stein, a local CFP® practitioner, recently met with one of his new clients, Merrell. During the course of the meeting Steve did the following things. 1: Steve did not meet with Merrell until 10 minutes after the scheduled start time. 2: In order to establish Merrell’s confidence in him, Steve told Merrell the names of several wellknown clients that currently do business with him. 3: Steve asked Merrell several questions regarding Merrell’s family situation, hobbies, and activities. Which of these actions would be considered inappropriate?
Question 9 Which of the following are important in nonverbal communication and behavior? 1: Body positioning 2: Body movement 3: Voice tone 4: Voice pitch
Question 10 Which of the following are theories or equations used in traditional finance? 1: MeanVariance Theory 2: Modern Portfolio Theory 3: The Capital Asset Pricing Model
Question 12 It is very important that assumptions are not used in the financial planning process. The planner must only use facts.
Question 13 Roy Al Pain has been a client of yours for several years. During that time, Roy has been rude to both you and your staff on numerous occasions. He has used profanities in front of your staff and other clients, thrown things, and screamed at your staff. You have tired of working with Roy and want to terminate your relationship with him. Which of the following is true?
Question 14 Most clients have a good understanding of the objective factors that affect the financial climate, and a planner’s most important function is finding out what the client’s subjective wishes are.
Question 15 Which of the following is the best choice for Behavioral Finance?