Comprehension Passage

Directions: Read the passage given below and answer the questions that follow by choosing the correct/most appropriate options: 

Financial Planning Association of Singapore (FPAS) will join the Financial Planning Standards Board (FPSB) and its global network of organizations to host the sixth annual World Financial Planning Day on 5 October, in partnership with IOSCO’s World Investor Week, which runs from 3-9 October. World Financial Planning Day raises awareness of the value of financial planning, having a financial plan, and working with a financial planner who has committed to competency and ethical standards, like a Certified Financial Planner (CFP) professional. FPSB is the standards-setting body for the global financial planning profession and the owner of the CFP certification program outside the United States. FPAS is part of the FPSB Network, which represents more than 203,000 CFP professionals worldwide, and will host the 6th Annual World Financial Planning Day which demonstrates how financial planning can help individuals make financial decisions to achieve their life goals, now and into the future. FPSB CEO Noel Maye said: “During a time of global economic uncertainty, people may feel vulnerable and concerned about their finances and their futures. World Financial Planning Day provides the global financial planning profession with the opportunity to educate the public about financial matters and demonstrate how financial planners who have committed to putting clients’ interests first, like CFP professionals, can help people navigate complex financial decisions to live their today and plan their tomorrow.

For the sixth year, FPSB has partnered with the International Organization of Securities Commissions (IOSCO) to host World Financial Planning Day during World Investor Week, a global campaign designed to raise awareness of financial literacy and investor protection. This collaboration highlights the role the global financial planning profession plays in supporting regulators to ensure better financial outcomes for people all over the world. Chair of IOSCO’s Committee on Retail Investors, Pasquale Munafò said: “World Financial Planning Day is a not-to-be-missed appointment within the IOSCO World Investor Week calendar. Investor resilience, which is one of the key themes of the WIW 2022, is very much grounded in financial planning. IOSCO is working together with FPSB to strengthen this link and, through our financial wellbeing and financial literacy activities, strengthen the ability of retail investors and financial consumers around the world to set goals, stay focused on what matters most, and be better prepared to deal with uncertain times.” FPSB’s network of organizations will host a variety of activities leading up to and on World Financial Planning Day. A variety of national and local events to raise awareness about the value of financial planning, having a financial plan, and working _______ a financial planner. A variety of articles and resources to educate individuals on financial planning topics, including steps to improve your financial well-being, financial guides for business owners, and how to prepare for the first meeting with a CFP professional. People in Singapore have access to 1,180 Certified Financial Planner professionals who have committed to working in their client's interests. Individuals seeking a financial planner to help them plan their future can find a CFP professional in their area. The Financial Planning Association of Singapore (FPAS) is a non-profit professional association dedicated to developing and promoting an industry providing unbiased financial advice to the Singaporean public. Established on 1st December 1998, FPAS is part of a global assembly of financial planning bodies, and a licensee of the Financial Planning Standards Board Ltd., a US-based non-profit organization launched in October 2004 to set standards for and oversee the international CFP certification program. FPAS's vision is to ensure that all Singaporeans have access to responsible and appropriate financial planning advice by raising the professional standards of the industry through education and a shared code of ethics.

What is the conclusion of the passage?

1
Financial planning - an expensive process.
2
Over ambitious projection in financial planning.
3
Limitations of Financial Planning Model.
4
An insufficient communication and improper co-ordination between financial planners.
5
Raising awareness of the value of financial planning.

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