Certified Financial Planner (CFP) Practice Exam · Question
Scenario 63: What ethical principle requires financial planners to act in the best interest of their clients, subordinating their own interests?
Fiduciary duty is a legal and ethical obligation to act in the best interests of another party, which is paramount in the relationship between a financial plann
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Question: Scenario 63: What ethical principle requires financial planners to act in the best interest of their clients, subordinating their own interests?
Answer options:
- Confidentiality
- Diligence
- Integrity ✅ Fiduciary duty
Correct answer: Fiduciary duty
Explanation: Fiduciary duty is a legal and ethical obligation to act in the best interests of another party, which is paramount in the relationship between a financial planner and their client. The correct answer is "Fiduciary duty". This capacity-fill scenario 63 reinforces the same competency for the cfp bank and follows the certified explanation standard.
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