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The CFP Board began requiring a college education in 2008. In the early years, for the first 25,000 CFP members, candidates could take the five courses and achieve certification without a comprehensive exam. In 1991 a comprehensive exam became required for new students. [12]
The cost of obtaining the CFP® certification includes exam fees, with a standard registration rate of $925. An early bird rate of $825 is available until six weeks before the registration ...
The FMA is awarded by the CSI automatically upon the completion of the required coursework with an average of 60% or better consisting of three courses and six exams ranging in length from two to three hours: the Canadian Securities Course (CSC), the Professional Financial Planning Course (PFPC), and the Wealth Management Techniques Course (WMTC).
In Canada, the RFP designation is conferred by the Institute of Advanced Financial Planners. [13] To become an RFP in Canada, candidates must pass exams, submit a sample comprehensive financial plan and meet education and experience requirements; IQPF awards the Financial Planner (F.Pl.) diploma in Quebec.
The CFP exam is for the financial industry what the bar is for the legal industry. Being a certified financial planner (CFP) is largely considered the gold standard in financial planning.
The Certified Financial Planner Board of Standards, Inc. manages the CFP exams. A CFP is a financial advisor or planner that can help with financial planning, as well as money management.
The CFP exam is offered three times a year at more than 50 locations across the United States. Remote testing options may also be available. [20] Approximately 3,000–4,000 individuals take the exam each year, and the pass rate for each exam administration has varied from 56% to 70% over the past decade. [21]
Students must earn a minimum passing grade of 80% in each course assessment and pass the final exam to complete the requirements of the program and to receive a certificate of completion. [4] [5] Curriculum topic distributions are as follows: [6] Financial Modeling (25%) Finance Theory and Math (23%) Excel Skills (17%) Business Valuation (10%)