Question

To proceed with a petition for reinstatement, a respondent must have completed which of these?

I. Completed the suspension


II. Completed a CFP Board-verified ethics continuing education course


III. Paid the reinstatement fee and any outstanding costs owed to CFP Board


IV. Provided a written certification that the respondent has read, understands, and will comply with, the Code and Standards

Answer 1

To proceed with a petition for reinstatement, the respondent must have completed the suspension, a CFP Board-verified ethics continuing education course, paid the reinstatement fee and any outstanding costs owed to CFP Board, and provided a written certification of understanding and compliance with the Code and Standards.

Step-by-step explanation:

To proceed with a petition for reinstatement, a respondent must meet several specific requirements as outlined by the CFP Board. To answer the question, the steps that a respondent must complete are:

1. Completed the suspension - The respondent must serve the full term of suspension as dictated by the CFP Board's disciplinary action.
2. Completed a CFP Board-verified ethics continuing education course - This requirement ensures that the respondent has taken steps to address the issues that led to the suspension and is up to date with current ethical standards and practices in financial planning.
3. Paid the reinstatement fee and any outstanding costs owed to CFP Board - This is both a financial and administrative prerequisite for the reinstatement process.
4. Provided a written certification that the respondent has read, understands, and will comply with, the Code and Standards - This is a declaration of the respondent's commitment to adhere to the CFP Board's professional requirements moving forward.

These requirements emphasize the seriousness of the profession and the CFP Board's commitment to maintaining high ethical and professional standards among its certified professionals. The reinstatement process is thorough to ensure that those who have been sanctioned can return to practice only after demonstrating a clear understanding and commitment to the ethical standards set forth by the CFP Board.

Answer 2

To be reinstated as a Certified Financial Planner, a respondent must complete their suspension, finish an ethics continuing education course verified by the CFP Board, pay the reinstatement fee along with any outstanding costs, and provide written certification of their commitment to the Code and Standards. All listed items (I, II, III, IV) are required.

Step-by-step explanation:

To proceed with a petition for reinstatement, the respondent, who is essentially an individual seeking to regain their status as a Certified Financial Planner (CFP), must satisfy multiple criteria set forth by the CFP Board. These are designed to ensure that the individual is prepared to adhere to the professional standards and ethical requirements of the profession.

• Completed the suspension: The respondent must have served their suspension period in full. This is a non-negotiable condition that ensures the individual has fulfilled the disciplinary action imposed upon them by the Board.
• Completed a CFP Board-verified ethics continuing education course: The respondent is required to complete a course that reinforces the ethical standards expected. Such education aims to prepare the respondent for adherence to the professional conduct and judgement required of a CFP.
• Paid the reinstatement fee and any outstanding costs owed to CFP Board: This requirement underscores the financial commitment to reinstatement and also ensures that all dues to the CFP Board are settled, contributing to the integrity of the certification process.
• Provided a written certification that the respondent has read, understands, and will comply with, the Code and Standards: This is a declaration of the respondent's intent to comply with the Code of Ethics and Standards of Conduct, signifying their commitment to uphold professional behavior.

All of the above-listed conditions must be met as part of the reinstatement process. Thus, the correct option is that all listed items (I, II, III, IV) are required for a petition for reinstatement.