On Taking The Certified Financial Planner Exam
Earning the Certified Financial Planner (CFP) Certification is the best way to strengthen and enhance your career in the financial services industry. This is the is the designation given to those individuals who were able to complete the formal CFP course program and successfully passed the Certified Financial Planner Certification Exam. This is a post graduate certification earned by professionals who want to establish a better and stronger financial planning career. With this prestigious designation you will be able to prove your expertise and boost up your credibility as a financial planning professional.
Passing the Certified Financial Planner Exam is the only way for you to achieve your goal of becoming a Certified Financial Planner. The CFP examination is an assessment exam in which it will gauge everything you have learned in the financial services industry. It will test your knowledge and skills in all aspect of the financial services and at the same time it will also asses how you will put into real life financial issues all the learning that you have. As a matter of fact this certification exam is said to be the most challenging test in the financial services industry. That is why passing this exam can really bring a big impact to your financial planning career.
The Certified Financial Planner Exam is designed by the Certified Financial Planner Board of Standards that focuses on over a hundred financial planning and financial services topics such as investment planning, retirement planning, income tax planning, insurance planning, estate planning and many more. Basically the exam covers every aspect of financial services. This is a 10 hours examination that is divided into two days. On the first day you are given four hours to take the test while on the second day there will be a two 3-hour sessions for you. There will be one four-hour session on Friday and a two three-hour sessions on Saturday.
The exam is also consists of 285 multiple choice questions with one case study per session. The total number of questions that is related to case studies usually varies from one exam to another. The total number of questions that is related to case studies usually varies from one exam to another. But approximately 20% of the exam is consisting of case study questions. The criterion for the passing rate would be based according to the set level of required competency rather than basing it against the scores of other exam takers on that day.
To qualify for the CFP Certification Exam you have to meet the educational qualifications wherein you have to earn a Bachelor’s Degree or higher and most of all you have to complete the formal CFP Course Program. You must also complete the working experience requirement in which you must have a three years full time work as a financial planner or any career within the financial services industry. On top of that you also have to submit to a full background cheek and lastly you have to adhere closely to the set Code of Ethics.