DECA Financial Consulting Practice Exam 2026 - Free DECA Financial Consulting Practice Questions and Study Guide

Question: 1 / 400

How can financial advisors help clients save for college?

By encouraging them to take out loans

By advising on education savings plans and investment options

Financial advisors play a crucial role in helping clients prepare for major expenses, such as college education, by providing guidance on various education savings plans and investment options. These advisors have the expertise to recommend tax-advantaged accounts, like 529 college savings plans, which are specifically designed for this purpose. They can also offer recommendations on other investment vehicles that can generate higher returns compared to standard savings accounts, enabling clients to maximize their savings over time.

By focusing on tailored financial strategies, advisors can help clients develop a holistic approach to their education funding needs, taking into account factors such as time horizon, risk tolerance, and financial goals. This comprehensive planning ensures that families can effectively accumulate the necessary resources to cover the costs of college, which can be substantial.

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By suggesting they wait until the last minute to save

By focusing only on traditional saving accounts

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