Cfp board financial planning competency handbook

Content: Acknowledgments xiii     About the Book xv     Preface xvii     Charles R. Chaffin, EdD, CFP Board     About the Practice Questions xxiii     About the Contributors xxv     Part One Introduction 1     Charles R. Chaffin, EdD, CFP Board     1 Theory and Practice 5     Charles R. Chaffin, EdD, CFP Board     2 Function, Purpose, and Regulation of Financial Institutions 15     John E. Grable, PhD, CFP(R), University of Georgia     Sonya L. Britt, PhD, CFP(R), Kansas State University     3 Financial Services Regulations and Requirements 25     John E. Grable, PhD, CFP(R), University of Georgia     Sonya L. Britt, PhD, CFP(R), Kansas State University     4 Consumer Protection Laws 35     John E. Grable, PhD, CFP(R), University of Georgia     Sonya L. Britt, PhD, CFP(R), Kansas State University     5 Fiduciary 45     Martie Gillen, PhD, University of Florida     6 Financial Planning Process 51     John E. Grable, PhD, CFP(R), University of Georgia     Ronald A. Sages, PhD, AEP(R), CFP(R), CTFA, EA, Kansas State University     7 Financial Statements 63     Thomas Warschauer, PhD, CFP(R), San Diego State University     8 Cash Flow Management 73     Martie Gillen, PhD, University of Florida     Michael Gutter, PhD, University of Florida     9 Financing Strategies 81     Martie Gillen, PhD, University of Florida     Michael Gutter, PhD, University of Florida     Jorge Ruiz-Menjivar, University of Georgia     10 Economic Concepts 89     Dave Yeske, DBA, CFP(R), Golden Gate University     11 Time Value of Money 97     Jorge Ruiz-Menjivar, University of Georgia     Martie Gillen, PhD, University of Florida     Michael Gutter, PhD, University of Florida     12 Client and Planner Attitudes, Values, Biases, and Behavioral Finance 107     Dave Yeske, DBA, CFP(R), Golden Gate University     13 Principles of Communication and Counseling 115     John E. Grable, PhD, CFP(R), University of Georgia     Kristy L. Archuleta, PhD, LMFT, Kansas State University     14 Debt Management 127     Joseph W. Goetz, PhD, University of Georgia     John E. Grable, PhD, CFP(R), University of Georgia     15 Education Needs Analysis 137     Taylor Spangler, MS, University of Florida     Michael Gutter, PhD, University of Florida     Martie Gillen, PhD, University of Florida     Sailesh Acharya, University of Florida     16 Education Savings Vehicles 145     Michael Gutter, PhD, University of Florida     Martie Gillen, PhD, University of Florida     17 Financial Aid (Education) 153     Martie Gillen, PhD, University of Florida     Michael Gutter, PhD, University of Florida     18 Gift and Income Tax Strategies (Education) 159     Martie Gillen, PhD, University of Florida     Michael Gutter, PhD, University of Florida     19 Education Financing 165     Martie Gillen, PhD, University of Florida     Michael Gutter, PhD, University of Florida     20 Principles of Risk and Insurance 173     Dave Yeske, DBA, CFP(R), Golden Gate University     21 Analysis and Evaluation of Risk Exposures 183     Dave Yeske, DBA, CFP(R), Golden Gate University     22 Health Insurance and Health Care Cost Management 189     Andrew Head, MA, CFP(R), Western Kentucky University     Sharon A. Burns, PhD, CPA (Inactive)     23 Disability Income Insurance (Individual) 197     Dave Yeske, DBA, CFP(R), Golden Gate University     24 Long-Term Care Insurance 205     Andrew Head, MA, CFP(R), Western Kentucky University     Sharon A. Burns, PhD, CPA (Inactive)     25 Annuities 213     Andrew Head, MA, CFP(R), Western Kentucky University     John Gilliam, PhD, CFP(R), Texas Tech University     26 Life Insurance (Individual) 225     Dave Yeske, DBA, CFP(R), Golden Gate University     27 Business Uses of Insurance 233     L. Ann Coulson, PhD, CFP(R), Kansas State University     John Gilliam, PhD, CFP(R), Texas Tech University     28 Insurance Needs Analysis 245     Thomas Warschauer, PhD, CFP(R), San Diego State University     29 Insurance Policy and Company Selection 253     Thomas Warschauer, PhD, CFP(R), San Diego State University     Andrew Head, MA, CFP(R), Western Kentucky University     30 Property and Casualty Insurance 263     Derek R. Lawson, MS, Sonas Financial Group, Inc. and Kansas State University     Sarah D. Asebedo, MS, CFP(R), Virginia Tech     Martin C. Seay, PhD, CFP(R), Kansas State University     31 Characteristics, Uses, and Taxation of Investment Vehicles 275     Swarn Chatterjee, PhD, University of Georgia     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     32 Types of Investment Risk 283     Thomas Warschauer, PhD, CFP(R), San Diego State University     33 Quantitative Investment Concepts 291     Thomas Warschauer, PhD, CFP(R), San Diego State University     34 Measures of Investment Returns 299     Thomas Warschauer, PhD, CFP(R), San Diego State University     35 Asset Allocation and Portfolio Diversification 307     Dave Yeske, DBA, CFP(R), Golden Gate University     36 Bond and Stock Valuation Concepts 315     Dave Yeske, DBA, CFP(R), Golden Gate University     37 Portfolio Development and Analysis 325     Thomas Warschauer, PhD, CFP(R), San Diego State University     38 Investment Strategies 335     Dave Yeske, DBA, CFP(R), Golden Gate University     39 Alternative Investments 343     L. Michael Ladd, CFA, CAIA, CMT, CFP(R)     40 Fundamental Tax Law 353     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     41 Income Tax Fundamentals and Calculations 363     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     42 Characteristics and Income Taxation of Business Entities 373     Webster Hewitt, CPA, CFP(R), University of Georgia     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     43 Income Taxation of Trusts and Estates 383     Martin C. Seay, PhD, CFP(R), Kansas State University     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     44 Alternative Minimum Tax (AMT) 391     Webster Hewitt, CPA, CFP(R), University of Georgia     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     45 Tax Reduction and Management Techniques 399     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     46 Tax Consequences of Property Transactions 409     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     Martin C. Seay, PhD, CFP(R), Kansas State University     47 Passive Activity and At-Risk Rules 417     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     48 Tax Implications of Special Circumstances 423     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     49 Charitable/Philanthropic Contributions and Deductions 431     Webster Hewitt, CPA, CFP(R), University of Georgia     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     50 Retirement Needs Analysis 439     Andrew Head, MA, CFP(R), Western Kentucky University     Sharon A. Burns, PhD, CPA (Inactive)     51 Social Security and Medicare 447     Sarah D. Asebedo, MS, CFP(R), Virginia Tech     Martin C. Seay, PhD, CFP(R), Kansas State University     Thomas Warschauer, PhD, CFP(R), San Diego State University     52 Medicaid 463     Katie Seay, CFP(R), The Trust Company     Martin C. Seay, PhD, CFP(R), Kansas State University     53 Types of Retirement Plans 471     John E. Grable, PhD, CFP(R), University of Georgia     54 Qualified Plan Rules and Options 479     Andrew Head, MA, CFP(R), Western Kentucky University     Sharon A. Burns, PhD, CPA (Inactive)     55 Other Tax-Advantaged Plans 485     Andrew Head, MA, CFP(R), Western Kentucky University     Sharon A. Burns, PhD, CPA (Inactive)     56 Regulatory Considerations 491     Andrew Head, MA, CFP(R), Western Kentucky University     Sharon A. Burns, PhD, CPA (Inactive)     57 Key Factors Affecting Plan Selection for Businesses 495     Andrew Head, MA, CFP(R), Western Kentucky University     Sharon A. Burns, PhD, CPA (Inactive)     58 Distribution Rules and Taxation 501     Andrew Head, MA, CFP(R), Western Kentucky University     Sharon A. Burns, PhD, CPA (Inactive)     59 Retirement Income and Distribution Strategies 509     Dave Yeske, DBA, CFP(R), Golden Gate University     Elissa Buie, MBA, CFP(R), Golden Gate University     60 Business Succession Planning 515     John E. Grable, PhD, CFP(R), University of Georgia     Joseph W. Goetz, PhD, University of Georgia     Kevin Valentino, MS, University of Georgia     61 Characteristics and Consequences of Property Titling 527     Andrew Head, MA, CFP(R), Western Kentucky University     Sharon A. Burns, PhD, CPA (Inactive)     62 Gifting Strategies 533     Elissa Buie, MBA, CFP(R), Golden Gate University     63 Estate Planning Documents 541     Andrew Head, MA, CFP(R), Western Kentucky University     Sharon A. Burns, PhD, CPA (Inactive)     64 Estate Tax Compliance and Tax Calculation 547     Elissa Buie, MBA, CFP(R), Golden Gate University     65 Sources for Estate Liquidity 555     Elissa Buie, MBA, CFP(R), Golden Gate University     66 Types, Features, and Taxation of Trusts 561     Elissa Buie, MBA, CFP(R), Golden Gate University     67 Marital Deduction 569     Elissa Buie, MBA, CFP(R), Golden Gate University     68 Intra-Family and Other Business Transfer Techniques 575     Elissa Buie, MBA, CFP(R), Golden Gate University     69 Postmortem Estate Planning Techniques 585     Elissa Buie, MBA, CFP(R), Golden Gate University     70 Estate Planning for Non-Traditional Relationships 591     Elissa Buie, MBA, CFP(R), Golden Gate University     Supplement: CFP Board   s Code of Ethics and Professional Responsibility 601     Part Two Introduction 605     Charles R. Chaffin, EdD, CFP Board     Thomas Warschauer, PhD, CFP(R), San Diego State University     71 Establishing and Defining the Client-Planner Relationship 609     Elissa Buie, MBA, CFP(R), Golden Gate University     Dave Yeske, DBA, CFP(R), Golden Gate University     72 Gathering Information Necessary to Fulfill the Engagement 617     Elissa Buie, MBA, CFP(R), Golden Gate University     Dave Yeske, DBA, CFP(R), Golden Gate University     73 Analyzing and Evaluating the Client   s Current Financial Status 625     Thomas Warschauer, PhD, CFP(R), San Diego State University     Vickie Hampton, PhD, CFP(R), Texas Tech University     Andrew Head, MA, CFP(R), Western Kentucky University     74 Developing Financial Planning Recommendations 635     John E. Grable, PhD, CFP(R), University of Georgia     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     75 Communicating the Financial Planning Recommendations 653     Dave Yeske, DBA, CFP(R), Golden Gate University     John E. Grable, PhD, CFP(R), University of Georgia     76 Implementing the Financial Planning Recommendations 665     Ronald A. Sages, PhD, AEP(R), CFP(R), CTFA, EA Kansas State University     77 Monitoring the Financial Planning Recommendations 677     Thomas Warschauer, PhD, CFP(R), San Diego State University     Sharon A. Burns, PhD, CPA (Inactive)     Part Three Introduction 685     Charles R. Chaffin, EdD, CFP Board     78 Gathering Data from Clients: Insights from Cognitive Task Analysis and Requirements Engineering 687     Kelly S. Steelman, PhD, Michigan Technological University     Jason S. McCarley, PhD, Flinders University     John E. Grable, PhD, CFP(R), University of Georgia     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     Dave Yeske, DBA, CFP(R), Golden Gate University     Charles R. Chaffin, EdD, CFP Board     79 The Need for Education 703     Joyce Schnur, CFP(R), MBA, ChFC, Kaplan University     Charles R. Chaffin, EdD, CFP Board     80 Financial Planning Standards Board 709     Michael Snowdon, CFP(R), Financial Planning Standards Board     81 Behavioral Finance and Its Implications for Financial Advisors 737     Keith Redhead, PhD, Coventry University     82 Applications of Behavioral Economics in Personal Financial Planning 751     Swarn Chatterjee, PhD, University of Georgia     Joseph W. Goetz, PhD, University of Georgia     83 Marriage and Family Therapy Applications to Financial Planning 763     Kristy L. Archuleta, PhD, LMFT, Kansas State University     D. Bruce Ross III, MS, University of Georgia     84 Financial Therapy: The Integration of Financial Planning and Theory 779     Kristy L. Archuleta, PhD, LMFT, Kansas State University     Bradley T. Klontz, PsyD, CFP(R), Kansas State University     Sonya L. Britt, PhD, CFP(R), Kansas State University     85 Aging Clients: Special Considerations 795     Deanna L. Sharpe, PhD, CFP(R), University of Missouri     86 Accounting for Time: Important Distinctions and Concepts for Financial Planners 829     John E. Grable, PhD, CFP(R), University of Georgia     Robert Rodermund, MS, Lindenwood University     87 The Psychology of Decisions: A Short Tutorial 843     Jason S. McCarley, PhD, Flinders University     Kelly S. Steelman, PhD, Michigan Technological University     John E. Grable, PhD, CFP(R), University of Georgia     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     Dave Yeske, DBA, CFP(R), Golden Gate University     Charles R. Chaffin, EdD, CFP Board     Conclusion     88 Moving Forward 861     Charles R. Chaffin, EdD, CFP Board     Elissa Buie, MBA, CFP(R), Golden Gate University     Sharon A. Burns, PhD, CPA (Inactive)     Vickie Hampton, PhD, CFP(R), Texas Tech University     Lance Palmer, PhD, CPA, CFP(R), University of Georgia     Thomas Warschauer, PhD, CFP(R), San Diego State University     Dave Yeske, DBA, CFP(R), Golden Gate University     Index 879