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Killexams : CIMA Financial exam Questions - BingNews Search results Killexams : CIMA Financial exam Questions - BingNews Killexams : The Alphabet Soup of Financial Certifications

What Are Financial Certifications?

Financial certifications, aka financial designations, are credentials that investment and financial industry professionals use. Represented by a trio or duo of letters after a name, they indicate a degree of education/training and specialization on the part of the individual.

If you have trouble telling the difference between a CFA®, CFP®, CIC, ChFC, or any of the other financial certifications, you're not alone. How do you sift through this alphabet soup to find the best financial professional for you? Let's look at the nine most popular designations with a brief explanation of the education and expertise each designation signifies and the kind of work done by the professionals holding them.

Guide To Financial Certifications

Types of Financial Certifications

Key Takeaways

  • Represented by a trio or duo of letters after a name, financial certifications indicate education/training and specialization on the part of an industry professional.
  • Common certifications for financial planners and investment advisors include the CFP (certified financial planner), CFA (chartered financial analyst), and ChFC (chartered financial consultant).
  • Other designations include the CPA (certified public accountant) and the CLU (chartered life underwriter).
  • While some certifications indicate a state-issued license to practice, others are simply awarded by industry associations or institutions.
  • Most certifications require candidates to put in many hours of study and pass exams, have a certain amount of experience, and meet high ethical and professional standards.

Certified Financial Planner (CFP)®

Those with the CFP® designation have demonstrated competency in all areas of financial planning. Candidates complete studies on more than 100 topics, including stocks, bonds, taxes, insurance, retirement planning, and estate planning. The program is administered by the Certified Financial Planner Board of Standards Inc.

In addition to passing the CFP certification exam, candidates must also complete qualifying work experience and agree to adhere to the CFP board's code of ethics, and professional responsibility and financial planning standards.

A financial planner works with individuals to help them understand their options and make financial decisions suited to their personal financial situation and goals. Because of the nature of their work, people place a good deal of trust in these individuals. The CFP board posts information on the financial planning process and current licensees, which lets clients of CFPs verify if their financial planners' designations are in good standing. The last thing anyone needs is to choose a CFP whose certification has been revoked.

Chartered Financial Analyst (CFA)®

This designation is offered by the CFA Institute (formerly the Association for Investment Management and Research [AIMR]). To obtain the CFA charter, candidates must successfully complete three difficult exams and gain at least three years of qualifying work experience, among other requirements. In passing these exams, candidates demonstrate their competence, integrity, and extensive knowledge in accounting, ethical and professional standards, economics, portfolio management, and securities analysis.

CFA charter holders tend to be analysts who work in the field of institutional money management and stock analysis, not financial planning. These professionals provide research and ratings on various forms of investments.

Certified Fund Specialist (CFS)

As the name implies, an individual with this certification has demonstrated his or her expertise in mutual funds and the mutual fund industry. These individuals often advise clients on which funds to invest in and, depending on whether or not they have their license, they will buy and sell funds for clients. The Institute of Business and Finance (IBF), formerly known as the Institute of Certified Fund Specialists, provides training for the CFS; and the course focuses on a variety of mutual fund topics, including portfolio theory, dollar-cost averaging, and annuities.

The knowledge these CFS designees hold is kept current through their continuing education requirements.

Chartered Financial Consultant (ChFC)

Individuals with the Chartered Financial Consultant (ChFC) designation have demonstrated their vast and thorough knowledge of financial planning. The ChFC program is administered by the American College of Financial Services. Candidates must complete an exam in financial planning, including income tax, insurance, investment, and estate planning, and are required to have a minimum of three years of experience in a financial industry position.

Like those with the CFP designation, professionals who hold the ChFC charter help individuals analyze their financial situations and goals.

Chartered Investment Counselor (CIC)

Given by the Investment Adviser Association, CFA charter holders who are currently registered investment advisors can study for this is a designation. The CIC program's focus is on portfolio management. In addition to proving their high-level expertise in portfolio management, CIC candidates must also adhere to a strict code of ethics and provide character references.

Individuals who hold the CIC charter tend to be among the financial world's major players, such as those who manage large accounts and mutual funds.

Certified Investment Management Analyst (CIMA)

The Certified Investment Analyst (CIMA) designation focuses on asset allocation, ethics, due diligence, risk measurement, investment policy, and performance measurement. As this certification signifies a high level of consulting expertise, only individuals who are investment consultants with at least three years of professional experience are eligible to try for the CIMA. The Investments & Wealth Institute, formerly the Investment Management Consultants Association, offers CIMA courses.

Individuals who hold CIMA designations are required to prove their expertise through continual recertification, which requires CIMA designees to complete at least 40 hours of continuing education every two years.

CIMA designation holders tend to have careers with financial consulting firms, which involve extensive interaction with clients and managing large accounts.

Chartered Market Technician (CMT)®

The CMT® designation is granted by the New York-based CMT Association. The CMT is the highest level of training within the discipline of technical analysis and is the preeminent designation for practitioners worldwide. Technical analysis provides the tools to successfully navigate the gap between intrinsic value and market price across all asset classes through a disciplined, systematic approach to market behavior and the law of supply and demand.

Earning the CMT demonstrates mastery of a core body of knowledge of investment risk in portfolio management, including quantitative approaches to market research and rules-based trading system design and testing. CMTs likely would be employed in the sales and trading departments of sell-side firms, as research analysts in firms that provide technical analysis to their clients, or working as portfolio managers and investment advisors.

Certified Public Accountant (CPA) and Personal Financial Specialist (PFS)

A certified public accountant (CPA) is a designation provided to licensed accounting professionals. The CPA license is provided by the Board of Accountancy for each state.

Those holding the CPA designation have passed examinations in accounting and tax preparation, but their title does not indicate training in other areas of finance. So, those CPA holders who are interested in gaining expertise in financial planning in order to supplement their accounting careers need to become certified as personal finance certified (PFS).

The PFS designation is awarded by the American Institute of CPAs to those who have taken additional training and already have a CPA designation.

Public accountants⁠—individuals working for a firm that provides accounting and tax-related services to businesses and publicly traded companies—must hold a CPA designation.

Chartered Life Underwriter (CLU)

This designation is issued by the American College and those who hold it work mostly as insurance agents. The CLU designation is awarded to persons who complete a 10-course program of study and 20 hours of exams. The course covers the fundamentals of life and health insurance, pension planning, insurance law, income taxation, investments, financial and estate planning, and group benefits.

Advantages and Disadvantages of Financial Certifications

It's important to realize that not all certifications are created equal. While some, like the CPA, reflect a state-issued or -sanctioned license (allowing the person to legally practice or do certain activities), others are simply industry-awarded designations. They may indicate a certain degree of experience and education but aren't mandatory qualifications to work in the field.

While certifications are not everything, you should supply extra credit to investment professionals who have them. Most of these certifications require candidates to put in many hours of study and meet high ethical and professional standards.

For instance, to get the CFA designation, candidates must put in approximately 250 hours of reading per exam, and there are three exams to pass. The tests are so intensive that approximately 64% of those who take just the level 1 exam will fail. Those who make it through all three levels to become charter holders are also bound by a code of ethics and rules of professional conduct, among other requirements.

Although all of these exams are intense and the hours can be long, these designations should be only one part of your criteria when deciding on a financial professional.

Which Certifications Should a Financial Planner Have?

The CFP (certified financial planner) is a particularly prestigious designation. One of the oldest in the profession, it requires years of experience, successful completion of standardized exams in several areas, a demonstration of ethics, and a college degree—as well as ongoing education in the field.

If a planner wants to delve more deeply into investments and advise clients about them, they might also obtain a CIMA (certified investment analyst).

Which Financial Certifications Boost Income?

The certified investment analyst designation seems to. According to an Investments & Wealth Institute-commissioned survey, the financial advisors who are members of CIMA practices (defined as having at least one practice member with a CIMA certification) report earning a higher annual income compared to financial advisors who are members of practices with no CIMA certification. Some 12% of advisors at CIMA practices earn more than US$380,000, compared to 3% of advisors at practices with no CIMA designation.
A CPA also seems to offer a good return on investment. While the median salary of an accountant is $73,560 per year, according to the Bureau of Labor Statistics, senior CPAs with over 20 years of experience could command an average of $150,000 annual salary, according to Accounting Today magazine and the American Institute of CPAs.

How Do I Get Financial Certifications?

Financial certifications are usually awarded by a designated industry group, association, or degree-granting institution. Their requirements often include the taking of certain courses and the passing of exams, a certain number of years' experience or apprenticeship in the profession, a college degree, membership in the association, and a commitment to ongoing education in the field.

The Bottom Line

If you have to deal with a financial professional, it's important that you know the extent of his or her expertise in different areas of finance. Now you have an idea of what some of the designations mean and what they require from those who hold them.

Wed, 02 Apr 2014 16:59:00 -0500 en text/html
Killexams : 10 Questions to Ask Financial Advisors No result found, try new keyword!Just as you'd vet someone you're interested in dating, it's wise to ask a few well-chosen questions of your prospective financial advisor ... specific regulatory exams for licensing. Sun, 18 Sep 2022 08:36:00 -0500 text/html Killexams : CIMA Certification exam Prep Workshop from Chicago Booth

I am very happy to report that I passed the CIMA exam! Although I was part of the educational program at another school, there is no way I could have passed without the Chicago Booth review program and having been also granted access to the Chicago Booth CIMA program educational materials and live session videos. Kathleen’s voice was a constant companion as I listened to classes driving and even while on family vacation. Thank you so very much!

- Alan P. Jesiel, CFP®, CIMA®, Vice President, Senior Relationship Strategist, PNC Wealth Management

The University of Chicago has a well-planned approach to teaching the CIMA curriculum. All of the important concepts are covered in a clear, concise format. The professors really want to make sure you understand the material and go to great lengths to provide intuition behind some of the math concepts. The class is very interactive and the faculty make themselves easily accessible throughout the class. I strongly recommend this program to anyone considering attaining the designation.

- Todd Muentzer, CIMA®, ETF Specialist

This was a great overall experience.  Kathleen does a great job presenting and reviewing the content.  It was also beneficial to connect with other students preparing for the exam.

- Jon Maldonado, Financial Advisor, UBS Financial Services

Excellent program with in-depth analysis of calculation needed for course material.

- Robert Filetti, Robert Baird

This class was far above my expectations.  This is a great value for the cost.

- Alicia Frye, Regional Business Consultant, Symmetry Partners

I got the passing score I needed to finally achieve my CIMA credentials. I was and am still ecstatic about this accomplishment and absolutely credit it to the Chicago Booth workshop and team for helping me get here. I would tell anyone interested in the CIMA program or who is trying to finish the certification process that the Booth workshop is the way to go.

- Jen Litton, CDFA, CIMA®

Having the two day review class at Booth is a major differentiator from the other education programs. Having a two day intensive review upon completion of the material helped me identify areas of weakness that I needed to focus on before the exam and embolden my confidence in the material I knew well coming into the exam.

- Greg Goin CFP®, CIMA®, CLU®, CRPC® Advisory Solutions Director

There are very few people that I have met that have a true depth of knowledge in their field.  Kathleen is one of them.  She is amazing in her understanding of the concepts.

- Program past participant

Wed, 25 May 2016 23:13:00 -0500 en text/html
Killexams : CIMA Launches Financial Management Programme for Entrepreneurs

The Chartered Institute of Management Accountants (CIMA), the leading body of management accountants globally, has launched Certificate in Business Accounting for SMEs (CERTBA for SMEs) a business skill and financial management programme for entrepreneurs in the Nigerian market.

Designed for small to medium business entrepreneurs, CERTBA for SMEs, addresses the financial management challenge or crisis facing entrepreneurs as they strive to enhance profitability while managing working capital. The global programme, which is now available in Nigeria, helps small to medium size businesses create a sustainable framework for good decision making, effective management of risks and cash flow.

Associate Director for Nigeria, Ijeoma Anadozie, said: “The programme is designed to elevate small to medium enterprise in Nigeria to success by helping them to develop financial management and corporate governance skills required for their firm’s survival and growth. It is a learning programme designed to ensure that entrepreneurs, especially those without a finance background, have a solid grasp of the fundamentals of business and finance, as well as the skill and confidence to run their small business like a big business CEO.

“The CertBA for SMEs programme was based on extensive research and consultation with senior executives and business owners worldwide, ensuring that the learning reflects the emerging issues faced by businesses and responds to their need for competent, confident and skilled entrepreneurs.”

CIMA CERTBA for SMEs will equip entrepreneurs with the knowledge and skills required to survive in today’s highly competitive market. Across, Europe and Asia, the programme ensured that entrepreneurs do not just have better business skills and financial literacy, but also run a better business.

The Chartered Institute of Management Accountants (CIMA), founded in 1919, is the world’s leading and largest professional body of management accountants, with members and students operating in 177 countries, working at the heart of business. CIMA members and students work in industry, commerce, the public sector and not-for-profit organisations.


Fri, 07 Oct 2022 12:00:00 -0500 en-US text/html
Killexams : How to Pass the Series 65 Exam No result found, try new keyword!When taking the Series 65, candidates must complete the exam within 180 minutes. A passing score is 72%, which translates to correctly answering 94 of the 130 scored questions. The Financial ... Wed, 29 Dec 2021 03:10:00 -0600 text/html Killexams : CIMA partners with Shanti Business School to teach students finance skills

The Chartered Institute of Management Accountants (CIMA) has signed an agreement with Shanti Business School (SBS) for the remote, digital self-paced learning programme namely The CGMA® Finance Leadership Programme. According to the official statement, the partnership aims to enable SBS to offer the CGMA® Finance Leadership Programme to students currently enrolled in its post graduate diploma in management (finance) programme.

The statement said, CGMA® Finance Leadership Programme enables instant on-line access for aspiring business and finance leaders to learn finance skills to the equivalent of a master’s degree. It further provides a new guided learning and assessment route to complete CIMA’s CGMA Professional Qualification and earn the CGMA® designation. With the help of real-life case simulations, the programme aims to teach a mix of finance, accounting, business, people, leadership and digital skills that are needed to build successful careers, the statement added.

“We have partnered with Shanti Business School to promote our CGMA® Finance Leadership Programme, a complete digital learning platform which will enable business students to become Chartered Global Management Accountants and CIMA members. With the impact of digitalisation, it is crucial for students to have strong skillsets and competencies to stay competitive in job market. I believe the CGMA® Finance Leadership Programme is the right tool that students can use to get the relevant skills and mindset to prepare themselves for the future workforce,” Bhaskar Ranjan Das, director, South Asia, AICPA, CIMA, said.

Further, the statement mentioned that students can start their CIMA journey while studying with SLIIT and start the programme at the appropriate entry level, building on their existing educational achievements. On successfully completion of the programme and fulfillment of practical experience requirements, students will become CIMA members and earn the CGMA® designation, the statement noted.

“This collaboration with CIMA will supply opportunity for our SBS students to gain the Chartered Global Management Accountant designation, and will increase their employability and competitiveness on both the national and global labour markets,” Neha Sharma, director, Shanti Business School, Ahmedabad, said.

Also Read: While 57% of Indians aspire to study abroad, 83% believe foreign degree to supply competitive edge: Report

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Killexams : Financial Advisor Answers Money Questions From Twitter

I'm Kevin Matthews II, author and financial educator.

Today I'll be answering your questions from Twitter.

This is Money Support.

[dynamic music]

@acirellis asks, are we going into a recession?

And what does recession mean again?

That's a great question.

A recession, by definition,

is two consecutive quarters of negative GDP,

that is gross domestic product.

Is essentially the amount of stuff we produce as a country.

Q1 of 2022 was negative.

And then Q2 of 2022 was also negative.

So technically, yes, we are in a recession.

One thing that's stopping us from officially calling this

a recession is the National Bureau of Economic Research.

They take in a number of factors, including GDP,

unemployment, consumer spending, and other factors.

And so far, they have not yet declared

the official recession.

@ImAnAdultish asks, seriously,

who is trusting me with a credit card?

And how on earth is my credit score calculated?

I don't know who's trusting you with a credit card.

However, I can tell you how your credit score is calculated.

So there are five main factors.

35% of it is based on your payment history.

Are you paying that credit card on time?

30% of it is going to be your credit utilization.

This is the amount of the credit limit that you are using.

Generally, you wanna stay below 20 to 30%.

15% is credit length.

How long have you held this particular credit line,

or credit card open?

This is why if you have had a credit card

for several years, and you close one,

that's gonna bring down the average credit length.

10% is new credit.

So this is when you apply for a new credit card.

You wanna be very careful,

your score does tend to dip during those times.

And then the last one is credit mix.

This is the mix between credit cards, mortgages,

student loans, and other things.

They wanna make sure

that you can pay different types of debt

and you have a diversified credit portfolio.

@financially_bot asks,

how soon do I need to start saving for retirement?


You wanna make sure that you are taking advantage

of time because time is your biggest asset.

So the longer you invest

the more you're going to have compounding interest.

Compounding interest is when your money makes money.

So for example, let's say I make $100,

and I receive 10% interest on that.

I have made $10.

The next time that I take that money, and invest it,

and get 10% again, that $10 also makes 10%.

So the money makes more money.

So one of the pushbacks I get when people ask this is,

well yeah, you gotta wait 20 years,

or 30 years for that to pay off.

It does.

However, the time is going to pass anyway.

I'd rather start now.

And 10 years from now,

you're gonna wish you started 10 years ago.

@StansaidAirport, how do you become a millionaire?

So becoming a millionaire is essentially

having at least $1 million in net worth.

There are 7.5 million Americans

who have reached millionaire status.

That's about 2.5% of the entire US population.

Now how you do this, there are multiple ways.

Business ownership, the stock market, and real estate

are the most common ways to become a millionaire.

The other thing is be patient.

Wealth is going to depend on time.

And the more time you take, the easier it's going to be,

and the more you can take advantage of compounding interest.

Robert Reich asks, is our tax system rigged for the rich?

18 billionaires exploited tax loopholes

to get federal stimulus checks

at the height of the pandemic.

What do you think?

The answer is yes.

There are plenty of tax breaks that disproportionately

impact and help those who are wealthier.

One of the most famous examples is the fact

that you can write off a portion of your mortgage interest.

Well guess what?

90% of millionaires do own a home.

Those who do not have the money to buy homes

do not get this particular advantage.

Another one that tends to get a lot of news coverage

is the capital gains tax rate.

So if I make money from buying and selling stocks,

the highest tax bracket that I would pay is 20%.

However, if I took that same income

and worked a regular nine to five job,

the highest income rate there is 37%.

If you are a multimillionaire,

or a billionaire in many cases,

a lot of your wealth is usually tied up into a stock.

If you were to sell that stock

that means that you would pay taxes on it.

However, what some people do is loan themselves

the money based on the value of that stock.

Because when you are receiving a loan

you're not paying any taxes on it

'cause it doesn't count as income.

That's another way that very wealthy people

tend to manipulate the tax code and kind of

get around things so that they can lower their tax burden.

@warrenmyers asks, why do so many people go to college

when the return on investment is so poor?

Says who?

When you look at the median return on investment

for a lifetime for those who went to college,

the median return is 287%.

However, it is negative 41% in the first 10 years.

So over time, most college degrees do pay off.

When we talk about return investment,

especially for a college degree,

this is a relationship between how much you make

from having that degree and how much you paid.

Either lower the cost by going to an in-state state school,

sometimes it's going to a community college,

and you're lowering the cost for that degree.

Or you can make significantly more money

for paying the exact same cost.

This is why you see some engineering majors,

those who went to school for engineering,

they have a higher return on investment

because their degree pays more.

However, across the board, I think we can all agree

that college is also too expensive

and should be made more affordable across the board.

@Oluwanonso-Esq asks, can someone explain

what a treasury bond is to me like I am a five year old?

So I have a four year old at home.

So I'm gonna do my best dad impression

on how I can explain a treasury bond to a five year old.

A treasury bond is a loan that you make

to the US government, and the US government

is going to promise to pay you back on a certain date.

We call this the maturity date.

And also, during this time,

they're going to guarantee you interest

on that principle on the amount that you loan.

Now treasury bonds are considered to be

among the safest investments in the world

because as long as the US government is collecting taxes

you are going to get some portion of your investment back.

When we're talking about treasury bonds

your returns are typically pretty low.

Right now, for a 10 year treasury bond,

you're looking at close to 3%.

So you could invest $100 and just get back three.

That's not necessarily motivating

because inflation is above 8%.

So for most investors, especially those on the younger end,

you usually wanna take on more risk.

Maybe that's a stock,

maybe that's an index bond, to gain higher returns.

And are more likely to build wealth,

because a treasury bond isn't necessarily

the best way to grow your money.

But it is one of the best ways to protect your money.

@maxsebastii asks, how much debt is too much debt?

That is a great question.

And there is a metric for this.

This is called the debt to income ratio.

Once you hit 43%, that is a red flag.

If you are bringing in $10,000 per month

and $4,500 of that is going to debt payments,

then that is far too much.

Because that is gonna leave you

at 45% on your debt to income ratio.

When you do that and you are applying for a loan,

then they're going to look at this debt to income ratio,

because they wanna make sure they're gonna

get their money back for their loan.

So they do pay a lot of attention

to that debt to income ratio.

You hit above 43%, that's gonna raise a red flag.

Honestly, when you look at 36%,

they're also going to raise an eyebrow at that as well.

@keepmoneymore asks, what does a realistic budget look like?

For me, a realistic budget is 50/30/20.

It's called the 50/30/20 rule

because you wanna have 50% of your income for your expenses,

you wanna have 30% for fun, money you can enjoy,

and then 20% for savings and investing.

Regardless if it's 30% or lower,

you should have room in your budget to enjoy.

That's going to help you to stick to your budget.

When you max out everything,

and everything is going to savings,

and everything is going to bills,

and you don't have time to enjoy,

or you don't have money to enjoy the things that you want,

you're not gonna stick to that budget.

That can lead you into debt

and put you in a situation that is not conducive

to your financial health.

@CoveredInWords asks, what investment benchmarks do you use?

What is your investment philosophy?

So I love this question.

When we talk about benchmarks, it is basically,

how am I measuring my success?

Am I investing well?

Or am I behind the curve?

In most cases I use the S&P 500, the largest 500 companies.

This is a very standard benchmark.

I would say, this is like the basics that you should use

as your investment benchmark.

What is my investment philosophy?

Personally, I'm a buy and hold investor.

I primarily hold index funds

and what we call blue chip stocks.

Stocks we all know and have heard of before.

And when you are a buy and hold investor,

again, you're buying, you're holding.

It's boring, but it is quite effective.

@Tavva2 asks, where do you start

with buying/trading stocks?

What do you buy, what to sell?

And how do you know WTF you are doing?

That is a great question.

The first thing is you have to define a goal

when you are looking to buy stocks,

or if you're looking to trade.

The reason why I say that is because,

your goals are going to determine what account type you use,

it's going to determine what stock you buy,

and then when you sell.

So for example, if I'm looking to make $10,

that's gonna tell me when to get out of a stock.

If I'm looking to build wealth over time,

that's gonna tell me to buy something that's more stable,

and something that I may hold for quite a while.

Now, the second half of the question is,

how do I know what I am doing?

What I tend to do is browse the company website.

We all know how much X company is making per year.

We can all see who the CEO is

and whether or not their products are working or not.

And you can use that to start to understand

whether or not that makes sense for you to own.

@NFTignition asks, if you can't buy the dip,

just survive it.

What does that mean?

Basically, don't sell if you are down.

Let's break this down.

So the first thing is buying the dip.

This is a term that started off in the stock market.

And it essentially means that if you believe

that a stock is going up,

and it comes down temporarily in price, that is a dip,

because you believe it is going to continue to rise.

Not every dip is a discount

and not every dip is worth buying.

A stock is different than a cryptocurrency.

All of them dip,

but not all of them have the same track record for recovery.

For example, the stock market as a whole,

since 2000, has been negative

only five times from 2000 to 2021.

Buying the dip for the stock market definitely makes sense.

Is that the same thing for crypto?

Is it the same thing for NFTs?

That question is still up in the air.

Now, another question is, what if that dip keeps dipping?

What if it is not a dip, but a cliff, and just falls off.

You have to understand what you are investing in,

understand the risk, and set limits for yourself.

So in some points you have what is called a stop loss

where you can say, look, if this asset falls

for a certain price, I'm gonna get out of it.

I'm gonna take my lumps,

and go take my ball and play somewhere else.

@Dancing_Cookie asks, Dollar Tree is now $1.25.

What's next for inflation, Arizona Iced Tea?

So first off, Arizona Iced Tea is far too expensive.

It used to be .99.

Food prices are much higher than what they were last year,

or even two or three years ago.

But if you look back at some of the old magazines

and things of that nature,

you could've got a Coke for .05,

you could've got burger for .10.

Now these things are costing five, 10, $15 for both.

Inflation slowly over time does increase prices for us all.

The problem, however, is when it happens

in what feels like overnight.

From 2021 to 2022, for example,

we just got an inflation report that said

food prices are up 10% from what they were last year.

Inflation is what happens when we have

too much money chasing too few goods.

Now the solution to this

is to either increase supply or reduce demand.

The way that we reduce demand

is by increasing interest rates.

And that's what you are seeing

from the Federal Reserve right now.

@giaxnicole asks, can someone tell me

how and where I should be investing my money?

This is probably the most common question

I get all the time.

For most of us, you wanna have what we call

a long term diversified portfolio.

For most people, this comprises of just stocks and bonds.

You have others that include real estate

and even business ownership.

So when I'm looking to move forward, to be more aggressive,

I'm gonna have more stocks.

And then when I'm looking to slow down and survive bumps,

then I want to have bonds.

The older you get, the more this mix is going to change.

This is a term called asset allocation.

The closer you are to retirement

the more bonds you'll have.

The younger you are,

typically the more you wanna have in stocks.

@givezerofx, so is it too late

to get in on this crypto thing?

Laughing emoji.

Depends on what you are looking for.

So crypto is known to be very volatile.

There are violent jumps,

both up and down in the crypto space.

Something like Bitcoin, if you go back

even over the last five to eight years,

there are times where that asset is down 90%.

There are other years where it's up 400%.

If you are someone looking to get rich tomorrow

you might have missed that boat.

If you are looking to invest in crypto long term

there is a case to be made where it does make sense.

However, the general recommendation here is to have 5%

or less of your overall portfolio invested in crypto.

If you wanna be more aggressive,

you are more than welcome to.

But remember, these assets are risky,

many of them are unproven, and they are very,

again, volatile for your portfolio.

@indexandETFs asks, what is the main advantage

of index funds and ETFs over mutual funds?

You could have an index ETF that tracks the S&P 500

and you can also have an index mutual fund

that tracks, again, the S&P 500,

the 500 largest companies in the US.

They do the same things,

but the mechanics behind them are a little bit different.

ETFs usually, when it comes to fees,

are significantly less expensive,

and there are no minimums in most cases.

An index ETF is going to allow me to do that

at almost any dollar amount,

compared to an index mutual fund,

which may have a $2,000 minimum, or $1,000 minimum.

So when you're comparing an ETF to a mutual fund,

an index ETF to an index mutual fund,

it comes down to fees and minimums.

And those are the biggest advantages

for ETFs over mutual funds.

So those are all the questions that we have today.

Thank you for spending your time with me.

And thanks for watching Money Support.

Thu, 22 Sep 2022 04:18:00 -0500 en-US text/html
Killexams : Claudia Cypher Kane named FPA 2023 president-elect

DENVER (September 28, 2022) – The Financial Planning Association announced today that the FPA Board of Directors elected Claudia Cypher Kane, CFP, CIMA, CPWA, ADPA, CDFA, as the 2023 FPA President-elect for a one-year term. Kane’s term will begin Jan. 1, 2023, succeeding incoming 2023 FPA President James Lee, CFP.

A financial adviser since 1985, Kane is an independent adviser with Raymond James Financial Services in Roseville, Calif., where she provides financial planning, strategic asset allocation, and tax-efficient money management for individuals, fiduciaries, and small businesses. Kane is completing a three-year term on the FPA Board of Directors and currently serves as 2022 FPA Treasurer and volunteer leader of the FPA Finance Committee.

“I have had the pleasure of working with Claudia over the past few years as we have worked to lead the Association through a rather turbulent time in society. She is a talented and thoughtful leader who, as our current treasurer, often asks the difficult questions which always serve us well in making the best possible decisions for FPA and our Members,” says 2022 FPA President Dennis J. Moore, MBA, CFP®. “As we embark on our pursuit of the legal recognition of financial planners through title protection, I know Claudia will play a key role in leading this effort with the same thoughtfulness and candor she has displayed over the past few years. I look forward to serving alongside her.”

Besides her service on the FPA Board of Directors, Kane volunteered her time to help lead the FPA of Northern California chapter and FPA of California, a coalition of FPA chapters throughout the state. She has been an active member of the Investments and Wealth Institute (IWI), where she served on the Board and as a member of the Membership, Ethics, Personnel, Certification, Specialty Conference, and Annual Conference Committees. Kane has been involved in exam writing for the Certified Financial Planner Board of Standards and IWI. She has also served in various community leadership positions and currently serves as President for Court Appointed Special Advocates (CASA) of El Dorado County in California.

Kane earned a bachelor’s degree from Queen's University, Belfast, Northern Ireland, and studied at the Wharton School and the Booth School to earn her CIMA® and CPWA® credentials. Besides being a CERTIFIED FINANCIAL PLANNER™ professional, she holds the Certified Private Wealth Advisor (CPWA®), Certified Investment Management Analyst (CIMA®), Accredited Domestic Partnership Advisor (ADPA®), and Certified Divorce Financial Analyst (CDFA®) designations.

“I have been a passionate advocate of our profession for many years and believe deeply in FPA's role and purpose. I am excited to join FPA’s Executive Committee in supporting our ongoing mission of growing and supporting our membership while advancing title protection as our primary advocacy objective. I look forward to engaging with our Members and other stakeholders in the coming months on these most pressing issues, especially at the FPA Annual Conference in Seattle in December,” says Claudia Kane, CFP®.

New Treasurer Elected

George Fernández, MBA, CFP®, who has served on the Board for the past two years, was elected to serve as the 2023 FPA Treasurer, where he will serve as the volunteer leader of the FPA Finance Committee. His term will also begin on Jan. 1, 2023, succeeding 2022 FPA Treasurer Claudia Kane, CFP®.

With more than 22 years of experience in financial planning, Fernández is a Business Coach and Consultant to financial planners in Overland Park, Kan., specializing in helping advisers build successful practices. He has held numerous volunteer positions within FPA and the FPA of Greater Kansas City, including on the FPA Chapter Leadership Conference Development Committee, the OneFPA Transition Task Force, and president and chair of the board of directors for FPA of Greater Kansas City. Fernández also serves as a volunteer board member for Pathway Financial Education. He received his bachelor’s and master’s degrees in business administration from MidAmerica Nazarene University in Olathe, Kan.

“I believe there is a story behind the numbers you see on financial statements, and when we understand those stories, we gain a better perspective about our options and opportunities. I look forward to bringing objectivity, and when decisions are made, I will seek to provide the needed perspective on the financial decisions we will make,” says George Fernández, CFP®.


“George genuinely desires to see FPA be the Association it can be for its Members and the profession. Under his leadership, we will continue to ensure the Association’s financial resources are being maximized and directed at supporting those initiatives that assist our Members in their development and standing in the profession,” added Moore.


Wed, 28 Sep 2022 02:25:00 -0500 Press Release en-US text/html
Killexams : You're Asking the Wrong Financial Questions: Here's How to Fix That

As a financial planner, it’s my job to answer financial questions. From clients to speaking engagements to educational workshops, people ask me a range of questions about personal finance and the best moves to make with their money every single day.

Even though everyone’s financial situation is unique, and people bring different goals, priorities and values to the table (which influences the context of the questions), I do find that there are a few queries that come up over and over. These questions are common across a broad range of people doing the asking … and, interestingly, they are almost always the wrong questions to ask.

Your Financial Questions Might Put the Focus in the Wrong Place