CKA Exam
According to Bill and Vonette Bright's testimony, what did God do in order to "trust" them? 1) He provided a successful business to Bill 2) God brought Bill and Vonette to irrevocable surrender 3) Bill and Vonette were able to live without having to pay for a home. 4) Bill and Vonette were to start up Campus Crusade for Christ.
2
All of the following are symptoms of a stewardship perspective, except? 1) Giving is proportionate to their income 2) Setting individual financial goals. 3) Living a controlled, debt-free lifestyle 4) Paying taxes with integrity
2
From a Christian perspective, which of the following is true regarding bankruptcy? 1) Bankruptcy allows you to eliminate debts and start over 2) Bankruptcy allows you to reorder your debts but not eliminate the debt 3) Christians should never consider bankruptcy as an option 4) It is best to have your pastor determine if bankruptcy is an appropriate option
2
What is the fourth step in moving from Minimal Spontaneous Giving to maximized Systematic Giving? 1) Spiritual Understanding and Commitment 2) Giving Relationships 3) Financial House in Order 4) Kingdom Vision
2
What is the third step in moving from Minimal Spontaneous Giving to maximized Systematic Giving? 1) Financial House in Order 2) Kingdom Vision 3) Giving Relationships 4) Spiritual Understanding and Commitment
2
What is usually the "real" issue in divorce? 1) Overspending on luxury items 2) Lack of communication about money 3) Having separate accounts between spouses 4) Paying for children's activities
2
Which of the following is NOT an economic benefit of giving? 1) Giving is a deductible expense. 2) Giving requires additional costs and thus greater accounting fees 3) Giving improves cash flow by reducing income tax liabilities. 4) Giving can reduce capital gains taxes
2
Which of the following is not a result of Biblical wisdom related to finances? 1) Confidence in financial decisions 2) Prescriptive decisions that must be made 3) Peace of mind 4) Focus on God's agenda
2) Prescriptive decisions that must be made
According to Bill and Vonette Bright's testimony, what determines everything in your life? 1) Your ability to give 2) Knowing the implications of sowing and reaping 3) Your view of God 4) The lifestyle you have selected for yourself.
3
Being a trusted advisor includes all of the following characteristics, except? 1) You are a facilitator in the decision-making process of clients using professional expertise while integrating appropriate biblical principles 2) You are a leader of clients, encouraging them to implement the decisions they have made. 3) You are a financial "doctor" in that you prescribe specific transactions that will benefit the kingdom. 4) You are a contributor of peace of mind because clients' goals are being accomplished.
3
What is the purpose of Generous Giving? 1) A ministry that serves people by taking donations and giving the money to homeless shelters 2) A for profit entity seeking to maximize generosity amongst the top 1% of wealth in the US 3) A ministry that serves people that are passionate about generosity by providing a sharing platform 4) Giving Generous is a pledge individuals can make and receive a certificate indicating one is committed to maximize giving.
3
What is the second step in moving from Minimal Spontaneous Giving to maximized Systematic Giving? 1) Kingdom Vision 2) Spiritual Understanding and Commitment 3) Financial House in Order 4) Giving Relationships
3
Which of the following best describes contentment as it relates to our financial lifestyle? 1) Financial independence is synonymous with contentment 2) Contentment can be found by knowing your "number" 3) Contentment is a choice we can make 4) In general, people are naturally content
3
Which of the following is NOT a level in determining how much to give? 1) Should Give 2) Could Give 3) Need to Give 4) Would Give
3
All of the following should be applied in client meetings, except: 1) Communicate and discuss the implications that ÒGod Owns it AllÓ 2) Lead and frame the discussion around a stewardship mentality 3) Apply the 5 Uses of money in client discussions 4) Ensure all clients are maximizing their giving.
4
Which of the following is not an economic danger of borrowing? 1) Compounding interest works against you 2) Getting out of debt is harder than getting into debt 3) Borrowing always mortgages the futures 4) Borrowing always presumes upon the future
4
Which of the following statements is true? 1) Advisors should determine where a client should reduce their cash flow 2) Our cash flow responsibility will never trump paying for our pleasures 3) You can borrow your way to prosperity 4) Debt may destroy your marriage
4
How many fundamental money management principles are there?
5
Which of the following differentiate a biblical worldview for financial decisions over that of a secular worldview?
A biblical worldview has an eternal perspective
Once a belief grows in magnitude, it becomes which of the following?
A personal conviction
What are the benefits of gifting appreciated assets prior to the sale? i. The donor can capture an income tax deduction for the value of the gift ii. The donor may be able to reduce capital gains tax on the sale of the gift. iii. The donor may be able to retain complete control of the asset. iv. The donor may be able to reduce their estate and thus the potential for estate taxes.
i, ii, and iv
Which of the following are common fears that clients face? i. Fear of the future ii. Fear of the economy iii. Fear of globalization iv. Fear of the Government
i, ii, and iv
Which of the following are components in the Disciple-Making Advisor model? i. Advisor Role ii. Leadership Role iii. Stewardship Role iv. Counselor Role
i, ii, and iv
Which of the following characterize the role of financial advisors? i. Disciple-Making ii. Leader iii. Purpose Givers iv. Counselor
i, ii, and iv
Which of the following characterize the world's messages in our culture? i. I need to have enough to be secure ii. I need to have enough to be successful iii. I need to have enough to have be stress-free iv. I need to have enough to have significance
i, ii, and iv
Which of the following are fundamental questions that one's worldview should answer? i. Where did I come from? ii. Why is there sin in the world? iii. Is there an answer to the sin problem? iv. Where do I use my resources? v. What is my purpose?
i, ii, iii, v
In the Iceberg illustration, the top of the iceberg has which of the following characteristics? i. Represents 10% of the total iceberg ii. Represents spiritual capital iii. Identifies the techniques in financial planning iv. Identifies methods in financial planning
i, iii, and iv
Which of the following are implications of knowing that "God Owns It All:" i. Every spending decision is a spiritual decision ii. God has prescribed how we are to use money iii. Stewardship cannot be faked iv. Fear of loss is eliminated since we don't own anything
i, iii, and iv
Which of the following questions is everyone asking? i. How much money is enough? ii. When will I have enough? iii. Will I ever have enough? iv. Will it continue to be enough?
i, iii, and iv
Which of the following questions must every Christian answer? i. Who owns it? ii. Will I ever have enough? iii. Where are my finish lines? iv. Is the next steward chosen and prepared?
i, iii, and iv
Which of the following are current trends related to money? i. Household wealth is growing dramatically but isolated in the hands of only a few ii. Few over the age of 65 are financially independent iii. Many people do not have wills iv. Most evangelical Christians submit their tithe to their local church
i., ii, and iii
Which of the following are advisor benefits of helping clients with their giving goals? i. Advisors can gain a sense of personal satisfaction ii. Clients can be bound to the advisor both emotionally and relationally. iii. Being a charitable giving specialists can set you apart iv. Discussing giving can lead clients to use other services you provide.
i., ii, iii, and iv
Which of the following is the world's view of Net Worth: i. I want to limit my accumulation ii. Time hinders my ability to accumulate iii. There is no limit on accumulation iv. I can accumulate enough to protect myself.
ii, iii, and iv
All of the following elements must exist for a Biblical Financial Planning except:
1) Built on biblical wisdom and principles 2) Works for all financial planning decisions **3) Works only for individuals that have accepted Christ 4) Works under all financial and economic conditions
Those that manage their finances according to biblical wisdom and principles will experience all the following except:
1) Contentment under all economic conditions 2) Confidence in their financial decisions **3) Eliminate catastrophe's in life 4) Better communication about money
Which of the following is not a short-term use of money?
1) Giving 2) Paying taxes 3) Lifestyle expenditures **4) Saving and/or investing
All of the following characterize how money is portrayed in the church, except?
1) Guilt 2) Shame **3) Regret 4) Fearful
Which of the following is not a use of money?
1) Lifestyle 2) Savings or Growing **3) Avoiding debt 4) Giving money away
Which of the following verses does not talk about contentment?
1) Philippians 4:11-13 2) I Timothy 6:6 **3) Luke 12:24 4) Hebrews 13:5
Which of the following is not one question that everyone asks?
1) Will I ever have enough money? **2) Is my portfolio appropriately diversified? 3) How much is enough? 4) Will my portfolio be enough to last me?
Which of the following is not one of the building blocks of Wealth Management?
1) Wisdom 2) Working **3) Worth 4) Worldview
Which of the following does not describe the current environment?
1)About 20% of born again Christians have a biblical worldview **2)Financial literacy is the same as financial planning 3)There exists confusion within the language used in the church related to money 4)The advertising world adds to the complexity and confusion
Which of the following is not an objective of the training methodology for the Certified Kingdom Advisor designation?
1)Developing a biblical philosophy of money and money management **2)Providing the technical expertise in the financial planning process 3)Develop transferable process of financial decision making 4)Provide a process to become a disciple of Christ, equipped and motivated to disciple others in biblical financial stewardship.
According to Jim Wise, which of the following strategies may take more preparation and thought to seek a client's place on the spiritual continuum? 1) Diagnostic Questions 2) Faith Statements 3) Personal Testimony 4) Transparent Discipleship
1
According to Principled Economic Reasoning, what happens when you have an improper worldview of economics? 1) You will underestimate man's ability to be productive. 2) The connection between God and man will be clear. 3) Man's purpose is clearly defined 4) It is a good thing that male and female produce children
1
According to Sharon Epps and Pam Pugh, which of the following summarizes active listening? 1) Be completely curious about the person in sitting across from you 2) Always be ready to engage in active listening 3) Active listening is the way to streamline rapport 4) Always be ready to ask the next question
1
In the Titling Decision of the wealth transfer process, which of the following is not a consideration for a family business? 1)Promote most experienced child to lead the company 2)Separate ownership thinking from leadership/management thinking 3)Be clear about compensation 4)Consider passing cash rather than the business to the next generation
1
What is the primary objective of the preservation phase of investing? 1) To maintain earning and/or purchasing power 2) To preserve enough for a legacy for your heirs 3) To maintain minimize downward economic conditions 4) Restructure the portfolio to concentrate on only a few positions
1
What question helps to determine if you should buy permanent insurance? 1) Can you afford it? 2) Does your insurance agent recommend it? 3) Do the investment returns seem reasonable? 4) Do you have any debt that may need to be paid off?
1
What step comes right after "Clarifying your Objectives" In the decision-making model? 1) Prioritize the Objectives 2) Identify your Objectives 3) Evaluate your Alternatives 4) Identify the alternatives
1
Which of the following accurately represents the R.E.A.D. acronym in Relational Wisdom? 1) Recognize, Evaluate, Anticipate, and Direct 2) Receive, Execute, Assess, and Direct 3) Relationships, Evaluate, Ask, and Deliver 4) Recognize, Execute, Anticipate, and Direct
1
Which of the following is not true regarding decision-making? 1) Everyone has a process in making decisions. 2) Having a process can help you review previous decisions and know why certain decisions were made. 3) Decision-making is part of our everyday life. 4) Having a decision-making process can help eliminate conflict.
1
Which of the following is one of the reasons for confusion in financial decisions? 1) Complexity of finances 2) Compliance of the financial industry 3) Limited number of options 4) Contentment in our finances
1
Which of the following is the best perspective to have in regarding to the transfer of wealth to heirs? 1) This is what is best because this is what God would have done. 2) This is what is best for my estate plan in order to maximize my distribution 3) This is what is best for the beneficiary and their protection 4) This is what is best for my spouse and their provision.
1
Which of the following is true regarding our "life's calling?" 1) Our calling has everything to do with who I am 2) We will only know our calling by looking back on our life 3) Our calling and our employment are the same. 4) Our calling is just a way we fulfill our work
1
Which of the following scripture verses suggests we are complete our tax returns with honesty and integrity? 1) II Corinthians 4:2 2) Proverbs 13:11 3) Luke 16:10 4) Romans 13:7
1
Which of the following should define our attitude toward money? 1) Contentment 2) Grateful 3) Careful 4) Ambivalent
1
Which of the following should not be considered in putting together a investment strategy? 1) Education level 2) Age 3) Temperament 4) Future cash flow
1
According to Jim Wise, which of the following are true? 1) Jesus only discipled his inner circle (Peter, James, and John) 2) Jesus' followers came to faith through the process of discipleship 3) Jesus and his followers sought to spread the gospel through evangelism and then discipleship 4) In Jesus' time, evangelism and discipleship were not "biblical" terms
2
According to Jim Wise, which of the following is not one of the principles in ministering to the Spiritual Growth clients? 1) Guide clients to sound teaching and doctrine 2) Guide clients to mentor and disciple newer Christians 3) Guide clients toward fellowship and community with other believers 4) Guide clients towards sharing and generosity
2
According to Jim Wise, which of the following is not one of the stages in the Spiritual Mature spiritual continuum? 1) Ministry Engagement 2) Generosity Maximizer 3) Reproducing Disciple-Makers 4) Fully Committed Followers of Christ
2
According to Jim Wise, which of the following is the most common marital issue financial advisors deal with? 1) Money infidelity 2) One spouse domination 3) Cultural differences 4) Inappropriate expectations
2
According to Mitch Anthony in the "New Retirementality," what is the first step in the "Life-Oriented" conversation? 1) Share your accumulated observations around watching people retire 2) Have the client share their own observations of others retiring 3) Have client's talk about their goals in retirement 4) Discuss with the client's why they think it is time to retire
2
According to Principled Economic Reasoning, which of the following show the relationship between consumption and investment? 1) Efficient Frontier curve 2) Production Possibilities Frontier curve 3) Human Consumptive curve 4) Production Efficiency curve
2
According to Sharon Epps and Pam Pugh, what percentage of all wives indicate they have different spending or saving habits than their spouse? 1) Roughly 25% 2) Close to 50% 3) Close to 75% 4) Close to 80%
2
According to Sharon Epps and Pam Pugh, which of the following strategies can help women clients provide thoughtful responses to your questions? 1) Make your questions short 2) Provide questions in advance 3) Allow for questions to be multiple choice 4) Have a third party provide the questions so they do not feel intimated
2
All of the following are components of leadership, except? 1) Personal concept 2) Power because of position 3) Change is the objective 4) No boundaries in leadership of followers
2
Due to the complexity of taxes, you may need: 1) Deluxe version of Turbo Tax 2) Professional expertise 3) Take a short term approach 4) Integrate tax implications into every financial decision
2
In order to determine one's effective tax rate, you should: 1) Determine their marginal tax bracket (as they are the same) 2) Divide total tax paid by total income 3) Multiply one's taxable income by their marginal tax bracket 4) Multiple income times marginal tax bracket and the subtract total tax paid
2
In step 3 of the decision-making matrix "Clarifying Objectives," what is the first thing that you should do? 1) Create all alternatives that can match the objectives 2) List out broad statements of intent 3) Prioritize each objective 4) Identify which objectives are "must haves"
2
In the Disciple-Making Advisor model, which of the following refers to the Advisor role? 1) The Advisor role removes barriers 2) The Advisor role provides technical competence 3) The Advisor role provides inspiration and direction 4) The Advisor role provides a Christian perspective.
2
In the Transfer Decision of the Wealth Transfer process, which of the following is not a question to consider? 1) What is the worst thing that can happen to the beneficiary if they received a certain amount of money? 2) How can I exceed the beneficiary expectations in the transfer of wealth? 3) How serious would any problems be if a beneficiary received this money? 4) In considering any problems with a beneficiary receiving, what are the chances that problem will occur?
2
Life Planning focuses on which of the following? 1) One's life and all their decedents 2) On one's life on this earth and life in eternity 3) Bringing spouses in unity together for financial planning 4) Life planning is the same as Charitable Gift Planning
2
Which life circumstance would not require a consideration for life insurance? 1) Getting married 2) First child starting college 3) Having children 4) Buying a home
2
Which of the following best describes the R.E.A.D acronym in Relational Wisdom? 1) The R.E.A.D acronym is focused around God Awareness and God Engagement 2) The R.E.A.D acronym is focused around Self Awareness and Self Engagement 3) The R.E.A.D acronym is focused around Others Awareness and Others Engagement 4) The R.E.A.D acronym combines God, Others, and Self all in into one construct.
2
Which of the following can be identified as the "Great Differentiator" from a Christian Advisor from that of a non-Christian advisors? 1) Christian advisors charge lower fees 2) Christian advisors will focus on generosity as part of a clientÕs counsel 3) Christian advisors will only work for Registered Investment Advisors 4) Christian advisors typically get all their clients from their church
2
Which of the following is a key to being able to pay our taxes? 1) Selecting the right CPA 2) Planning accordingly 3) Maximizing tax credits 4) Increase expenses that increase deductions
2
Which of the following is not a characteristic of biblical principles? 1) Biblical principles are always right. 2) Biblical principles are specific to each circumstance. 3) Biblical principles are always relevant. 4) Biblical principles are always constant and not changing.
2
Which of the following is not true regarding work in the context of the Life Priorities chart? 1) We need to find balance in all the priorities. 2) Church tends to be one area where Christians get out of balance 3) Work is no more important than the other life's priorities 4) All in all, God must remain at the center of our life priorities
2
Which of the following is the Eastern way of decision implementation? 1) Decide, Discuss, Implement 2) Discuss, Decide, Implement 3) Implement, Decide, Discuss 4) Implement, Discuss, Decide
2
Which of the following is the best method for counseling clients on their lifestyle? 1) Clients lifestyle must be observed due to investment fiduciary rules 2) Revisit client goals to evaluate the impact of financial lifestyle on reaching the goals 3) Inform clients that their heirs will be directly impacted if they continue to overspend 4) Inform clients that their investment performance should be a key indicator as to how much they should spend for their lifestyle
2
Which of the following is true regarding student debt? 1) Student debt does not make economic sense 2) Student debt may make economic sense 3) Student debt is one debt that does not mortgage the future 4) Student debt should be avoided at all costs.
2
Which of the following statements is best regarding paying off debt? 1) It is never advisable to have a non-working spouse enter the workforce to pay down debt 2) There is a tendency for a non-working spouse that enters the workforce to pay off debt to use it toward increase lifestyle. 3) It is best to stop or minimize one's giving to reduce any outstanding debt. 4) When total debt exceeds 30% of annual income, then it is recommended to have a non-working spouse enter the workforce.
2
Which of the following statements is true? 1) Financial maturity occurs at the age of maturity 2) Financial maturity is being able to give up today's desires for future benefits 3) Financial maturity is something that is rarely achieved 4) Financial maturity occurs when we officially give 10% of our income
2
Which scripture verse supports the use of life insurance in one's financial picture? 1) II Corinthians 4:1 2) I Timothy 5:8 3) Matthew 6:33 4) II Timothy 2: 16
2
Which of the following are not attributes of a Christian Financial advisor? 1) Professional Competence 2) Ethical superiority 3) Biblical Wisdom 4) Supernatural Relationships
2) Ethical superiority
According John Dodd, which of the following accurately describe the L.O.V.E acronym for heart-level conversations? 1) Level, Overview, Vision, Engagement 2) Listen, Observe, Value, and Empathy 3) Level, Overview, Value, and Empathy 4) Listen, Overview, Vision, and Engagement
3
According the training, which of the following is the "currency" of a good leader? 1) Character 2) Consistency 3) Communication 4) Competence
3
According to Jim Wise, which of the following are not part of the Spiritual Continuum? 1) Spiritual Disinterest 2) Spiritual Interested 3) Spiritual Engagement 4) Spiritual Maturity
3
According to Jim Wise, which of the following are not reasons why should not get discouraged by client responses to your faith statements and diagnostic questions? 1) Be glad you got a response 2) Hostile responses still give insight into the client's spirituality 3) You may lose a client over these faith statements or diagnostic questions 4) The client's responses will allow you to tailor your message to them
3
According to Lloyd Reeb, all of the following are benefits of serving as a family, except? 1) Serving together and getting behind each family members serving interest brings families together 2) Serving helps to realize that "our family" is not what our life should always be about 3) It is best to serve in one big way rather than smaller acts of servitude 4) Families can experience "magical moments" when they have an outward perspective.
3
According to Lloyd Reeb, when does leading a family usually terminate in the minds of parents? 1) When the kids turn 18 2) When the kids go off to college 3) When you stop financially supporting the kids 4) When they get married.
3
According to Lloyd Reeb, which of the following are not ways to identify the uniqueness of each member of the family? 1) Have them determine their love language 2) Determine the strengths of each family member 3) Characterize their profession 4) Determine their learning style
3
According to Mitch Anthony in the "New Retirementality," which of the following is not true regarding finding balance between vacation and vocation? 1) It is important to understand the limits of the leisure life 2) Law of Diminishing Returns applies to a leisure life 3) It is the vacations we take that makes our work so enjoyable 4) Vacations are enjoyed when we have meaningful work
3
According to Mitch Anthony in the "New Retirementality," which of the following is true? 1) Clients should retire "from" something and not "to" something. 2) Client should retire "from" something to another vocation 3) Clients should retire "to" something rather than "from" something. 4) Clients should retire "to" a new ministry vocation.
3
According to Mitch Anthony, which of the following is a more appropriate value proposition? 1) Return on Investment 2) Return on Relationships 3) Return on Life 4) Return on Generosity
3
According to Principled Economic Reasoning, which of the following is not an area of alienation? 1) Man becomes alienated from God 2) Man and Women become alienated from each other 3) Man and himself (internal conflict) 4) Man and Earth
3
According to Ron Blue, which of the following is true regarding heart-level conversations? 1) Most advisors take advantage to engage their couple clients in heart-level conversations 2) It is best the advisor starts by talking through the ground rules of mediation between couples 3) Advisors need to be ready to ask good questions 4) It is important that the most important aspect for the advisor is not to put yourself at risk of losing the client
3
According to Sharon Epps and Pam Pugh, which of the following are a biblical example of a husband and wife in complete unity? 1) Abraham and Sarah 2) Isaac and Rebekah 3) Priscilla and Aquila 4) Jacob and Rachel
3
According to the training, what is the definition of leadership? 1) One who is influenced to accomplish a noble purpose toward God's agenda 2) A person who has positional power given by others 3) One who influences others to accomplish a noble purpose toward God's agenda 4) The ability to force others to a common purpose and the character to inspire change.
3
All of the following are issues related to the wealth transfer process, except? 1) Parents not talking about their wishes for their distribution of assets 2) Having to care for both elderly parents and children 3) Having to establish unequitable distribution of assets amongst children 4) Knowing the difference between provision and protecting your family
3
All of the following are life priorities except? 1) Church 2) Family 3) Hobbies 4) World
3
All of the following are rules for client counsel, except? 1) Always maintain a long-term perspective 2) Invest from a strategy 3) Risky investments should be avoided 4) Clients should be diversified in their investment portfolios
3
All of the following are skills to teach our children to master, except? 1) Develop a spending plan 2) How to buy wisely 3) Develop an investment plan 4) Develop financial goals
3
All of the following results should occur by setting a faith goal, except? 1) Goals will be reached 2) Growth will be experienced 3) Personal accomplishment drives more goals 4) God will be glorified
3
Communicating with clients regarding their lifestyle should start with which of the following? 1) Clients need to know it is a regulated part of your role as an advisor 2) Lifestyle monitoring must be completed to ensure appropriate investment selections are made 3) Clients need to know the value of monitoring their financial lifestyle 4) The bible commands accountability to our financial lifestyle
3
From a biblical perspective, which of the following best describes why we work? 1) Work is a result of the fall of Adam and Eve 2) Work is the means by which we build wealth. 3) Work has always been part of God's plan 4) Work is a means to test our faithfulness to God
3
What is the relationship between secular work and our spiritual walk? 1) Christians should avoid secular work all together 2) Secular work becomes spiritual when done to please others 3) Secular work becomes spiritual when done to please God. 4) Ministry work becomes secular when it is done to please God.
3
When Defining the Decision in the decision-making matrix, which of the following is not a question you should ask? 1) What is the crux of the matter? 2) Is this decision addressing the core issue? 3) Will the solution be the best short-term solution? 4) How many alternatives do I have when I have defined the decision?
3
Which of the following accurately represents the S.O.G. acronym in Relational Wisdom? 1) Serve, Others, Generously 2) Salvation, Obedience, Glorify 3) Self, Others, God 4) Serve, Obedience, God
3
Which of the following are not characteristics of leadership? 1) Leadership can be learned 2) Leadership requires integrity 3) Leadership is something you are born with 4) Leaders go with those they are leading
3
Which of the following best describes "Wealth Transfer?" 1) An event that occurs at death 2) Usually takes place because of a will 3) Begins immediately and is a process 4) Seeks to maximize control of assets after death
3
Which of the following best describes the S.E.R.V.E. acronym in Relational Wisdom? 1) The S.E.R.V.E. acronym is focused around God Awareness and God Engagement 2) The S.E.R.V.E. acronym is focused around Self Awareness and Self Engagement 3) The S.E.R.V.E. acronym is focused around Others Awareness and Others Engagement 4) The S.E.R.V.E. acronym combines God, Others, and Self all in into one construct.
3
Which of the following characteristics is not part of the Disciple-Making Advisor? 1) They are confident in articulating biblical wisdom 2) They begin to normalize the spiritual conversation 3) They ask more questions 4) They celebrate what God does
3
Which of the following formulas ideally describe the relationship between hard skills and soft skills in creating value for the group? 1) Hard Skills + Soft Skills = Value to the group 2) Hard Skills Ð Soft Skills = Value to the group 3) Hard Skills X Soft Skills = Value to the group 4) Hard Skills / Soft Skills = Value to the group
3
Which of the following fuel individual relationships? 1) Skills 2) Talents 3) Emotions 4) Likeability
3
Which of the following is not a byproduct of teaching children money management? 1) The skill of living life well 2) Character development 3) Social competencies 4) Generational impact
3
Which of the following is not a challenge in training our children about money management? 1) The substantial amount of debt our government carries 2) Billions of dollars spent on advertising making us discontent 3) Financial literacy or knowledge is limited and hard to access 4) Parents own personal spending habits
3
Which of the following is not a component of management? 1) Positional Concept 2) Consistency is one key objective 3) Commitment is the strategy in management 4) Followers are bound by contract
3
Which of the following is not a consequence of Emotional Hijacking? 1) Strong sensations hit our brain that trigger significant emotions 2) Emotions can cause us to act and say things impulsively 3) We are no longer to feel emotions when this occurs 4) We have limited use of our reasoning part of our brain
3
Which of the following is not a place where wealth can transfer too? 1) Heirs 2) Charities 3) Donor Advised Fund 4) Final expenses and taxes
3
Which of the following is not a result of discipleship? 1) You will become more Christ-like 2) Your clients will become more Christ-like 3) Your clients will likely change their estate plan 4) Your clients will experience God's peace as they grow closer to Christ.
3
Which of the following is not an ongoing trend in America? 1) Financial illiteracy was and is the norm among AmericaÕs youth 2) Kids and teens have money and spending influence. 3) Parents are taking more ownership in their kidsÕ financial education 4) Kids look to their parents for financial guidance
3
Which of the following is not one of the responsibilities of an advisor in the wealth transfer process? 1) Advisors need to be able to articulate the wealth transfer process 2) Advisors need to be able to lead clients through the wealth transfer process 3) Advisors need to ensure the beneficiaries are prepared before they inherit money 4) Advisors need to be able to explain the principles underlying each step in the wealth transfer process
3
Which of the following is the primary tools used by Generous Giving is spread the generosity message? 1) Journey of Giving 2) Giving Journeys 3) Journey of Generosity 4) Gratitude through Generosity
3
Which of the following is true? 1) Borrowing is a sin because we covet what others have. 2) Consumptive borrowing will increase our standard of living 3) Debt is almost always symptomatic of spiritual issues 4) Husbands should be the primary decision maker related to borrowing.
3
Which of the following questions should be asked when in the speculation phase of investing? 1) What is the historical return of this investment? 2) Am I considered an accredited investor? 3) Should I give the money away instead of speculative investing? 4) Can I afford the capital calls?
3
Which of the following reflects behavior of capital markets? 1) The Efficient Frontier 2) Production Possibilities Frontier Curve 3) Yield Curve 4) Efficient Market Curve
3
Which of the following statements is true? 1) Paying income taxes may be a problem strictly due to cash flow problems 2) Deductibility makes a purchase a good decision 3) Almost every tax deduction will cost something. 4) Sales taxes are an indicator of God's blessings.
3
What step is "Defining the decision" in the decision-making process? 1) Step 1 2) Step 3 3) Step 2 4) Step 4
3 (Answer 3, not step 3)
All of the following statements about Biblical Principles is true, except? 1) Biblical principles are always right 2) Biblical principles are relevant 3) Biblical principles adapt according to our circumstances 4) Biblical principles are never going to change.
3) Biblical principles adapt according to our circumstances
Which of the following terms is not synonymous with one's worldview? 1) A paradigm 2) A conviction 3) Wisdom 4) Doctrine
3) Wisdom
According to Jim Wise, all of the following are ways to minister to the spiritual disinterested, except? 1) Pray for God's grace and mercy 2) Live consistency as a witness in our words and actions 3) Be prepared with your personal testimony 4) Seek out an event-driven conversion
4
According to Lloyd Reeb, which of the following is not a bucket of family giving? 1) Family and Friends 2) Compassion Giving 3) Strategic Giving 4) Partnership Giving
4
Advisors can help clients with their vision by, all of the following EXCEPT? 1) Connecting them with their passion. 2) Exposing them to the work God is doing. 3) Helping clients believe they can make a difference 4) Ensuring their kids are involved in the generosity movement.
4
All of the following are psychological dangers debt creates, except? 1) Concern 2) Anxiety 3) Worry 4) Anger
4
All of the following could be results from participating in a Journey of Generosity, except? 1) God can move people into action (i.e., participate in a mission trip) 2) Create a new perspective of giving, potentially moving from begrudging to joy. 3) JOGs have the opportunity to move people from something they "should do" to something they "get to do." 4) JOGs can raise support for Generous Giving in order to continue their ministry
4
Tax avoidance is the same as which of the following: 1) Tax evasion 2) Tax fraud 3) Tax Penalty 4) None of the above
4
What is one question that we must ask when thinking of money as a test? 1) Are we disciplined? 2) Are we satisfied? 3) Have we been tithing? 4) Have we been faithful?
4
Which form of capital is for nothing if the other forms of capital are not present? 1) Social capital 2) Emotional capital 3) Spiritual capital 4) Financial capital
4
Which of the following best describes who we should support according to I Timothy 5:8 1) Those only living in our house 2) Our immediate family 3) Our extended family 4) The scripture does not specify
4
Which of the following is NOT an attribute related to establishing a growing relationship with God as it relates to establishing motivational giving? 1) Clients understand that God owns everything 2) Clients seek themselves as investing in eternity 3) Clients understand the concept of sowing and reaping 4) Clients desire to maximize economic benefits of giving.
4
Which of the following is not a principle for decision making? 1) Learn to separate the relevant information from the large quantities of raw data. 2) Focus on the questions, not on the answer 3) Practice the process of decision making 4) Follow the "gut" feeling when making decisions.
4
Which of the following is not a question related to discussing a client's responsibilities? 1) What are you responsible for? 2) To Whom are you responsible? 3) How can you align your responsibilities with your spending decisions? 4) Are you comfortable with your responsibilities?
4
Which of the following is true regarding the difference between wealth transfer and estate planning? 1) Wealth transfer has the donor and estate as the highest priority 2) The estate planning process begins now 3) Wealth transfer is fiduciary driven 4) Estate planning seeks to retain control of possessions
4
Which of the following taxes do we have little control over? 1) Income tax 2) Estate tax 3) Gift tax 4) Sales Tax
4
When the counselor function and the Leader function of an advisor merge, which of the following is true?
Advisors are facilitating the financial journey for clients
Which of the following is true regarding the difference between a Christian who is a financial advisor and a Christian Financial Advisor?
Christian Financial advisors integrate their faith into their practice
When following the fundamental money management principles, what is the outcome?
Confidence in financial decisions
Which of the following is the biggest barrier to financial freedom?
Determining how much is enough for me
Which of the following reasons can explain why financial professionals are in a very influential position?
Financial decisions reveal the condition of the heart
Our lifestyle decisions should balance which of the following?
Provision and Protection
Which of the following is not listed as one of the overall worldviews?
Satanism
Which of the following is true regarding the iceberg diagram?
The Why questions drive the How answers
Which of the following establishes the foundation on which we build our lives?
Worldview
Which of the following is the first step in developing your personal convictions?
You need to know scripture
According to Jim Wise, which of the following are keys to success in encouraging those in the Spiritual Interested stage? i. Remember the process ii. Focus on the Centrality of GodÕs Word in Discipleship iii. Active Discipleship increases as people move from spiritual disinterested to spiritual interested iv. Effective discipleship includes both verbal and living witness
all 4
Which of the following should not be associated with a Christian's view of money? i. A measure of self-worth ii. A reward for godly living iii. A guarantee of Contentment iv. A measure of success
all 4
Which of the following types of assets can be gifted to one's National Christian Foundation donor advised fund? i. Cash ii. Business interests iii. Property iv. Intellectual Property
all 4
Which of the following are traps that should be avoided in decision-making? i. Binary Trap ii. Intuitive Trap iii. Emotional Trap iv. Voting Trap
all four
According to Sharon Epps and Pam Pugh, which of the following are considerations specific to female clients? i. Active listening helps female clients to believe that their advisor knows them and is representing their interests ii. Understanding and being understood is an essential component for women in new business relationships and an essential trust builder iii. Female clients need to always talk out their feelings and need advisors willing to listen iv. Women rarely say what they mean and mean what they say.
i and ii
Which of the following are considerations in one's investment objectives? i. Level of Risk to be taken ii. Moral implications iii. Family size iv. Geographic region one lives in
i and ii
Which of the following are hindrances to setting goals? i. Focusing on the past ii. Focusing on the present resources iii. Setting goals with your spouse iv. Believing God will move us
i and ii
Which of the following are principles that should be taught to children related to money management? i. God owns it all ii. There is a tradeoff between time and effort and money and rewards iii. Financial decisions are independent iv. Instant gratification is okay as long as you have cash
i and ii
According to Jim Wise, which of the following are objectives of faith statements and diagnostic questions? i. They open the door to essential spiritual discussions ii. They bound clients to you on the basis of your mutual faith iii. They help evaluate where your client falls on the spiritual continuum iv. They help differentiate you from other advisors
i and iii
According to Lloyd Reeb, which of the following are the two key questions advisors can ask regarding thriving families? i. What does it mean to have a thriving family? ii. Who do you know that has a thriving family? iii. What is your plan to have a thriving family? iv. Why is having a thriving family so important to you?
i and iii
In Relational Wisdom, which two dynamics are explored? i. Awareness ii. Alignment iii. Engagement iv. Effort
i and iii
Which of the following are impacted by the opportunity cost of consumption? i. Financial impact ii. Relationship impact iii. Emotional impact iv. Social impact
i and iii
Which of the following are types of leadership? i. Transactional ii. Trans-Cultural iii. Transformational iv. Trans-Purpose
i and iii
According to the "Life Chart", which of the following are all competing with work? i. Church ii. Family iii. Government iv. Hobbies
i, ii, and iii
Which of the following are the commitments of a "faithful skilled craftsmen" or financial advisor in our current culture? i. Advancing the kingdom of God ii. Impacting the lives for Jesus Christ iii. Implementing a financial discipleship model for Christian and non-Christian clients iv. Mentoring one-on-one with all your clients
i, ii, and iii
Which of the following are considerations in deciding on "want to haves" in the decision-making matrix process? i. Take the top priority (criteria) and make it a 10 ii. Measure each criterion against the top criteria iii. "Want to haves" are very objective iv. Discuss and communicate with others about the criterion.
i, ii, and iv
Which of the following are considerations of the concept, "God Owns It All?" i. Most Christians believe that God owns everything, but not the implications of it ii. God can give and take whatever He wants to. iii. God will financially bless those that give to Him. iv. Every financial decision is a spiritual decision
i, ii, and iv
Which of the following are reasons we do not set goals? i. Fear of failure ii. Concern it takes too much time iii. They are a statement of God's will for us iv. Lack of knowledge on how to set goals
i, ii, and iv
Which of the following are true regarding relational skills or abilities? i. They have the ability to magnify or diminish our technical abilities ii. They produce bonds of loyalty, trust, and mutual support iii. They are the purview of Christian advisors iv. They can make people more creative, productive, and enjoyable to work with.
i, ii, and iv
Which of the following are true regarding wisdom? i. Wisdom is absolute moral truth ii. Wisdom is transcendent iii. Wisdom is ever changing iv. Wisdom of decisions will stand the test of time
i, ii, and iv
Which of the following is a form of capital we can pass on to our children? i. Spiritual Capital ii. Financial Capital iii. Emotional Capital iv. Social Capital
i, ii, and iv
According to Mitch Anthony in the "New Retirementality," which of the following is true? i. Having a purpose is just as important as having money. ii. Money can provide a purpose iii. The first thing that people think about when planning for retirement is, "Having enough money?" iv. People need to make a "practice run" of retirement and then review it periodically.
i, iii, and iv
According to Sharon Epps and Pam Pugh, which of the following are ways we engage in active listening? i. Remove Distractions ii. Listen with intent to reply iii. Ask clarifying questions iv. Listen to tone, ideas and what is not being said
i, iii, and iv
Which of the following are aspects of my responsibility as a steward? i. I steward my clients ii. I steward my clients money iii. I steward my capital iv. I steward my reputation
i, iii, and iv
According to Principled Economic Reasoning, which of the following is true? i. The earth was created to multiply ii. Man can make the earth yield even more iii. More humans make all of us more productive iv. God gave the earth a mission to respond to man's work
i., ii., iii, and iv
What aspects of sibling rivalry must be considered in the wealth transfer process? i. Family complexity ii. In laws iii. Step Children iv. Aging Parents v. Aging Children
i., ii., iii, and v only
According to Mitch Anthony in the "New Retirementality", which of the following is true? i. Client's should let "culture" tell them when to retire ii. Advisors should ask, "What is your view on when a person should fully retire?" iii. Some studies show that delaying retirement can increase longevity iv. Age needs to be considered in retirement in order to be healthy enough to accomplish one's leisure goals.
ii and iii
Which of the following are ways that we respond to God in the Engagement Dynamic of Relational Wisdom? i. Church Attendance ii. Trust iii. Obedience iv. Faith
ii, iii, and iv only
From a cultural perspective, where do we usually allocate our money first? 1) Our lifestyle 2) Our debts 3) Our taxes 4) Our giving
1
In a secular worldview of personal cash flow, which of the following uses of money is usually first? 1) Lifestyle 2) Debt 3) Taxes 4) Giving
1
What is the first step in moving from Minimal Spontaneous Giving to maximized Systematic Giving? 1) Spiritual Understanding and Commitment 2) Financial House in Order 3) Kingdom Vision 4) Giving Relationships
1
What is the purpose of a donor advised fund administrator like National Christian Foundation? 1) Establishes accounts from which donors can give, grow, and grant money. 2) Provide evaluations on charities effectiveness and compensation guidelines 3) Support the Government in charitable oversight of national charities under the "religion" exemption 4) Establish accounts for clients that allow for the purchase of tax-exempt securities from "religious" affiliated corporations.
1
Which of the following could have the most impact on a client's financial lifestyle? 1) Working to reduce and maintain their lifestyle expenditures 2) Selecting an appropriate diversified portfolio 3) Appropriately advising on the use of debt to leverage portfolio returns 4) Ensure the client is protected by overfunding an emergency fund
1
Which of the following is not a way you should interact with your clients regarding their lifestyle? 1) Be direct 2) Patiently encourage 3) Be gracious 4) Pray with them
1
Which of the following is true? 1) More borrowing leads to a decrease lifestyle 2) More borrowing leads to an increased lifestyle 3) More borrowing does not change one's lifestyle 4) More borrowing leads to increased lifestyle for the next generation.
1
Which of the following statements is true? 1) Clients can deduct up to 50% of their adjusted gross income every year. 2) Clients can deduct up to 50% of their adjusted gross income every other year. 3) Clients can deduct up to 50% of their adjusted gross income for those earning over $167,000 and filing married filing jointly tax returns 4) Clients can deduct only up to 25% of their adjusted gross income every year.
1
As you consider your life's vocation, you must determine all of the following, except?
1) Acknowledge that faith makes our calling operative 2) Seek the answer to "Am I called?" 3) Know that conviction is the only way to overcome fear **4) Would my vocation match my personality
Which of the following is not true regarding the advisor's place in asking questions?
1) Be careful not to force a decision **2) Give your professional opinion when you feel it is important 3) Ask questions before giving advice 4) Never be judgmental, critical, or confrontational in your questions
Which of the following are types of questions that can be used? i. Conceptual clarifying questions ii. Probing Assumptions iii. Questioning Viewpoints iv. Probing implications or consequences
All four
Which of the following is the first step in the Sequential Investing Hierarchy?
Eliminate all high interest and short-term debt
Which of the following best describes the foundation of a biblical worldview of finance?
God owns it all
Which of the following is true regarding questions?
It makes the one being asked the question to think about what they believe
Which of the following statements is true regarding taxes?
Taxes are symptomatic of God's provision in one's life
Which of the following demonstrate one's worldview?
One's behaviors
What schedule on a tax return can an advisor find one's giving amounts?
Schedule A
Which of the following best describes how the church tries to motivate people related to money decisions?
Seeking to shame and guilt
According to James 3:16, what is the cause of confusion and every evil thing:
Self-seeking and envy
What can happen when pastors and or ministry leaders speak on money in the church?
Sermons on money can create natural barriers between pastor and congregation
Which of the following is the best definition of financial planning?
The continuous allocation of limited financial resources to unlimited changing alternatives
Which of the following creates the pathway from moving from what we know to what we believe?
Thinking about what we know and coming to a conclusion
Which of the following are characteristics of a Journey of Generosity (JOG)? i. Conducted as an overnight retreat ii. Generosity stories are shared iii. Relies primarily on live guest speakers talking about their stories iv. Each JOG ends with the opportunity for participants to support Generous Giving
i and ii
Which of the following are the components of future value of money calculations? i. Interest Rates ii. Periods of time iii. Present value iv. Previous year's portfolio returns
i, ii, and iii
Which of the following are true regarding personal convictions? i. Personal Convictions start with your intellectual understanding ii. Personal Convictions become part of who you are iii. Reading the scriptures are significant in developing personal convictions iv. Christians should have the same personal convictions
i, ii, and iii
In the Iceberg illustration, the bottom of the iceberg has which of the following characteristics? i. Represents 90% of the total iceberg ii. Represents spiritual capital iii. Identifies strategies involved in financial planning iv. Identifies eternal perspectives
i, ii, and iv
