Psychology of Attitudes
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Questions and Answers

What is the primary driver of an individual's attitude?

  • Beliefs and values (correct)
  • Emotions and experiences
  • Cultural and social norms
  • Economic and environmental factors
  • What happens to an individual's attitudes when their beliefs and values change?

  • Their attitudes become less important
  • Their attitudes remain the same
  • Their attitudes become more complex
  • Their attitudes also change (correct)
  • What is the primary reason Bob resisted investing in a conservative mutual fund?

  • Bob values freedom
  • Bob is a risk-taker
  • Bob believes GICs are the only safe form of investment (correct)
  • Bob values personal growth
  • What is the benefit of identifying a client's attitude toward money?

    <p>Advisers can offer financial services that satisfy their clients' specific needs</p> Signup and view all the answers

    What is one of the five types of attitudes toward money?

    <p>Power</p> Signup and view all the answers

    What does money represent to Linda?

    <p>Security</p> Signup and view all the answers

    What is a characteristic of clients who consider money to be a symbol of security?

    <p>They want to use tried and tested investment methods</p> Signup and view all the answers

    What is a benefit of understanding a client's attitude toward money?

    <p>Advisers can better tailor their services to meet the client's specific needs</p> Signup and view all the answers

    What does Alphonso consider money to be a symbol of?

    <p>Power and dominance</p> Signup and view all the answers

    Why do clients who receive gifts from their adviser feel?

    <p>Loved and appreciated</p> Signup and view all the answers

    Why is it important to establish a relationship of trust with clients?

    <p>To protect them from greedy or dishonest people</p> Signup and view all the answers

    What is the priority of clients who view money as a symbol of power?

    <p>Spending money</p> Signup and view all the answers

    Why does Alphonso spend money?

    <p>To enhance his social connections</p> Signup and view all the answers

    What is the consequence of not establishing a relationship of trust with clients?

    <p>They may be exploited by others</p> Signup and view all the answers

    Why do clients who view money as a symbol of power want to dominate their relationship with their adviser?

    <p>Because they want to assert their influence and control</p> Signup and view all the answers

    What can an adviser do to gain the trust of clients who view money as a symbol of power?

    <p>Focus on building a relationship of trust</p> Signup and view all the answers

    What is the frequency of reviewing the checklist?

    <p>Monthly</p> Signup and view all the answers

    What is the importance of item 8 compared to other items?

    <p>More important</p> Signup and view all the answers

    What is the purpose of the checklist?

    <p>To evaluate your own performance</p> Signup and view all the answers

    What should you do with items you answer as 'no'?

    <p>Add them to your focus for next month</p> Signup and view all the answers

    How should you address clients?

    <p>By their name</p> Signup and view all the answers

    Why is it important to listen to clients?

    <p>To understand their needs</p> Signup and view all the answers

    What is the recommended way of speaking to clients?

    <p>Clearly, not too fast or too slow, and not too loud or too low</p> Signup and view all the answers

    Why is item 8 crucial?

    <p>Because clients will not recognize your strengths</p> Signup and view all the answers

    What is the primary goal of applying the principles of relationship building in a client-adviser relationship?

    <p>To prevent conflictual situations from arising</p> Signup and view all the answers

    When resolving a conflict, what is the first step in the conflict resolution process?

    <p>Choose your attitude</p> Signup and view all the answers

    What is the purpose of active listening in conflict resolution?

    <p>To identify the meaning behind the client's words and actions</p> Signup and view all the answers

    Why is it important to acknowledge a client's feelings during conflict resolution?

    <p>To show empathy and understanding</p> Signup and view all the answers

    What is the last step in the conflict resolution process?

    <p>Implement resolution and evaluate results</p> Signup and view all the answers

    What is the benefit of resolving conflicts effectively?

    <p>It recovers and reinforces relationships with clients</p> Signup and view all the answers

    Why is it important to stay focused on finding a solution during conflict resolution?

    <p>To find a mutually beneficial solution</p> Signup and view all the answers

    What is a key aspect of communicating with empathy and understanding during conflict resolution?

    <p>Not judging what you hear</p> Signup and view all the answers

    What percentage of dissatisfied clients considered severing their ties with the institution?

    <p>72%</p> Signup and view all the answers

    What is the primary importance of an adviser according to the Japanese term okyakusama?

    <p>Meeting the needs of clients</p> Signup and view all the answers

    What is a key ingredient to success in an adviser-client relationship?

    <p>Both technical competency and relationship building skills</p> Signup and view all the answers

    What is the main objective of an adviser according to the client-centred principle?

    <p>Meeting the client's needs</p> Signup and view all the answers

    What should an adviser do if the client's needs conflict with the financial institution's interests?

    <p>Prioritize the client's needs</p> Signup and view all the answers

    What is the result of an adviser neglecting the human and emotional aspects of the relationship?

    <p>Decreased client satisfaction</p> Signup and view all the answers

    What is one of the principles for building strong relationships with clients?

    <p>Being an effective communicator</p> Signup and view all the answers

    What is the importance of being client-centred in an adviser-client relationship?

    <p>It helps to identify the client's needs accurately</p> Signup and view all the answers

    Study Notes

    Attitudes and Their Formation

    • Attitudes are derived from emotions and allow consistent responses to situations.
    • Attitudes are formed from a combination of related beliefs and values.
    • When beliefs and values change, attitudes also change.

    Types of Attitudes Toward Money

    • There are five types of attitudes toward money:
      • Security
      • Love
      • Power
      • Freedom
      • Personal value

    Client Insights

    • Clients who consider money as a symbol of security want to use tried and tested investment methods.
    • Clients who consider money as a symbol of power may want to dominate their relationship with their adviser.

    Building Relationships with Clients

    • Building relationships takes skill and effort.
    • Four principles support building strong relationships with clients:
      • Be client-centred.
      • Be accessible.
      • Be an effective communicator.
      • Be consistent.

    Principles for Building a Relationship

    • Being client-centred means identifying client needs accurately and recommending products and services to meet those needs.
    • Relationship-building skills and technical competency are both necessary for delivering quality service.

    Relationship-Building Checklist

    • A checklist can be used to evaluate performance in building relationships with clients.
    • Items on the checklist include:
      • Addressing clients by their name.
      • Listening to clients with the intention of understanding their needs.
      • Recommending products and services on the basis of clients' needs.
      • Speaking clearly and promptly returning clients' calls.

    Resolving Conflicts

    • Conflicts can be prevented by applying the principles of relationship building.
    • The conflict resolution process includes five basic steps:
      • Choose your attitude.
      • Use active listening to gain clarity.
      • Communicate with empathy and understanding.
      • Collaborate on a resolution.
      • Implement resolution and evaluate results.

    Conflict Resolution Process

    • The first step in resolving a conflict is to choose your attitude.
    • Active listening is used to gain clarity and understand the client's perspective.
    • Communicating with empathy and understanding helps to acknowledge the client's feelings and relate to their problem.
    • Collaborating on a resolution involves finding a mutually beneficial solution.
    • Implementing the resolution and evaluating the results helps to reinforce the relationship with the client.

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    Related Documents

    Module 1 Chapter 1 PDF

    Description

    This quiz explores how attitudes are formed and modified, and how they influence our behavior. Learn about the role of beliefs and values in shaping our attitudes.

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