CFP Exam
The CFP exam is the certification process for becoming a Certified Financial Planner. This is one of the most recognized financial planning marks in the world. Certified financial planner status is based on independently established public interest standards. As a result of this unique certification, it prepares you for a career long commitment to meeting the needs of clients. The CFP certification process consists of initial requirements in the academic areas of Education, Examinations, Experience, and Ethics. Applicants must have at least a bachelor’s degree in any discipline from an accredited college or university in order to qualify for the CFP exam. Once you have met the requirements, you must meet the ongoing education and disclosure requirements to maintain CFP certification.
Basic Components of the CFP Exam
The CFP certification process administered by CFP Board. It identifies to the public which individuals are authorized to use CFP certification marks in the United States and those that have met the rigorous professional standards and have agreed to adhere to the principles of integrity, competence, objectivity, fairness, confidentiality, diligence, and professionalism when dealing with clients. CFP certifications must bass the CFP Certification Examination, CFP Board’s Candidate Fitness Standards, agree to abide by the CFP Code of Ethics and Professional Responsibility which makes clients interests come first, and comply with the Financial Planning Practice Standards which explains what clients should be able to reasonably expect from financial planning engagement. This is why the CFP certification is becoming more and more popular. CFB practice is suggested.
Self-Assessment Practice Tests:
The CFP Certification Examination tests your ability to apply financial planning knowledge to client situations. The exam is ten hours long and divided into three separate sessions. Because of the complicated nature of financial planning, each session may cover all topic areas. All questions are multiple choice, including those question related to case problems. The exam is administered three times a year – usually the third Friday and Saturday of March, July, and November at about fifty different locations. The application deadline is seven weeks prior to the exam dates. To apply to take the exam you must fill out an application, either from online (downloaded) or call a 1-800 number to have an application mailed to you. All applications have a $595 fee and that must be received by the deadline, as well as the application, before the examination can be taken.
The CFP exam is an extremely important addition to any financial planners career portfolio and can help anyone advance their career to the desired levels.
