The CFP exam, formally known as the Certified Financial Planner Examination, is a challenging and comprehensive assessment for men and women looking to enter this exciting and rewarding field of money management. The test is developed by the Certified Financial Planner Board of Standards in consultation with an expert team of exam administrators.
The CFP exam is administered three times a year, typically on the third Friday and Saturday in March, July, and November. It is split over two days and completed within a total of 10 hours. Typically, there is a four-hour session on Friday afternoon, followed by two three-hour sessions on Saturday.
The exam is administered on paper and consists of two different types of multiple-choice questions. One outlines a brief scenario and then asks one to six factual questions. The second type of question on the CFP exam is posed as a more complex situation and is followed by ten to twenty questions. Most exams include three of these lengthier scenarios.
The subjects covered on the CFP exam include general principles of financial planning (11 percent of the exam); insurance planning and risk management (14 percent); employee benefits planning (8 percent); investment planning (19 percent); income tax planning (14 percent); retirement planning (19 percent); and estate planning (15 percent).
CFP exam scores are available approximately eight weeks after the day of the test. The score report includes an indication of whether the candidate has passed or failed; those who fail will receive a list of the areas in which they need to improve. Those who must retake the exam are required to take it again in its entirety.
CFP Study Guide
Start learning how to be successful on your CFP exam. Our CFP study guide is guaranteed to help you get the results you deserve on your CFP test. Some test takers prefer to study using flashcards and so we have created the best CFP flashcards that cover everything you need to know for the CFP exam. Note that using multiple study aids will help you maximize the benefit from your study time.