Self-study exam based on a thorough understanding of articles published in Volume 32, Issue 4 of Financial Services Review, the academic journal of the Academy of Financial Services. 

After reading and understanding the two articles required for this exam, the planner will understand:

D.27. Characteristics, uses and taxation of investment vehicles

• Select the appropriate use for each asset class and investment vehicle based upon its risk/return characteristics and expected cash flows.
• Advise clients on the tax implications of holding and disposing of each security type or asset class.

E.41. Tax consequences of property transactions

• Calculate the capital gain or loss on a property sale.

H.65. Client and planner attitudes, values, biases

• Explain how a client’s psychology, background, preferred learning style and values (socially conscious investor, etc.) impact the financial planning process.
• Explain how a client’s values, including cultural and religious values and attitudes may impact their goals and the financial planning process.

H.66. Behavioral finance

• Describe how a client's psychology, such as their financial comfort zone, socialization, money beliefs, and past financial experiences and behaviors impact their objectives, goals, understanding, decision making and actions. 

H.67. Sources of money conflict

• Identify a client's motivation for achieving their financial goals.

H.68. Principles of counseling

• Demonstrate how a planner can develop a relationship of honesty and trust in client interaction.
• Select appropriate counseling and communication techniques for use with individual clients.

H.69. General principles of effective communication

• Assess the components of communications, including verbal and non-verbal communications.
• Select appropriate counseling and communication techniques for use with individual clients.