Investment Advisor study plan

Map the advisory process into six stages (discovery, data gathering, objective setting, analysis, recommendation, monitoring) and write a one-paragraph definition of each in your own words

Build a 20-item client fact-finder covering assets, liabilities, cash flow, insurance, tax status, time horizon, and liquidity needs

Compute present and future value of a lump sum, an ordinary annuity, and an annuity due by hand for three client scenarios without a spreadsheet

Draft a risk-tolerance questionnaire of 12 scored questions and define how you would translate a score into a conservative, balanced, or growth posture

Calculate holding-period return, arithmetic mean, geometric mean, and standard deviation for a five-year return series and explain why geometric mean is the better growth estimate

Decompose total return into income and price components and compute after-tax return for a client in a 32% marginal bracket holding a taxable bond

Derive portfolio expected return and standard deviation for a two-asset mix at 25/75, 50/50, and 75/25 weights and identify the minimum-variance point

Draw and label the efficient frontier, capital market line, and an indifference curve set, then explain in writing how a risk-averse client's optimum is chosen

Compute Sharpe ratio for three candidate portfolios and rank them

Estimate a client's required return from their goal set and compare it against the feasible return of their current allocation

Run a 30% equity drawdown stress test on a 60/40 portfolio and state the recovery return needed to get back to the prior peak

Explain duration as a price-sensitivity measure and compute the approximate price change of a bond fund for a 100 bp rate move

Assess how inflation at 4% versus 2% changes the real value of a fixed nominal withdrawal over 15 years

Justify an asset allocation in writing using three inputs: horizon, risk capacity, and liquidity needs

Compare common stock, preferred stock, and corporate bonds on claim priority, voting rights, and income characteristics

Distinguish open-end funds, closed-end funds, ETFs, and unit investment trusts on pricing mechanism, liquidity, and cost structure

Explain how a Treasury auction, secondary market trade, and repo transaction differ in cash flow timing and counterparty exposure

Compute the taxable-equivalent yield of a municipal bond and decide when it beats a comparable corporate bond for a given client

Identify the principal risks (credit, interest rate, liquidity, currency) embedded in five different security types

Derive a client's investable surplus from gross income, taxes, fixed obligations, and emergency reserve, showing each step

Build a retirement funding projection using a 3% inflation assumption and two savings rates, and state the shortfall in today's dollars

Compute education funding need for a 10-year horizon and compare a 529-style account against a taxable account on after-tax outcome

Explain how a marginal tax bracket change alters the choice between deductible and non-deductible savings vehicles

Identify three behavioral biases (loss aversion, recency, overconfidence) in a written client scenario and prescribe a process fix for each

Outline the core fiduciary duties (duty of care and duty of loyalty) and give two concrete conduct examples of each

Map the required elements of Form ADV Part 1 and Part 2 and draft a plain-language disclosure paragraph for a conflict of interest

Describe the components of an effective compliance program: written policies, annual review, code of ethics, and books-and-records retention

Explain the rules on custody of client assets and on principal and agency cross transactions, and state what triggers a violation

Distinguish prohibited practices (performance guarantees, misleading advertising, unauthorized testimonials) and draft a compliant marketing claim

Draft a sample advisory agreement covering scope of services, fee calculation, termination, and discretionary authority

Compute an advisory fee under both an asset-based schedule and a flat retainer for a $1.2M account and identify when each is more defensible

Design a client onboarding file checklist that satisfies know-your-client, suitability, and documentation requirements

Write a monitoring and reporting protocol specifying review frequency, rebalancing triggers, and escalation steps

Analyze two ethical dilemma scenarios and defend a course of action by citing the applicable duty

Take two full-length timed practice exams and log every missed question by domain and error type (knowledge gap versus misread versus calculation slip)

Re-derive the ten formulas you missed most often from first principles without notes

Rewrite your weakest two domain summaries into one-page condensed sheets from memory, then check against source material

Rehearse a 10-minute client recommendation presentation covering allocation rationale, risk disclosure, and fee transparency