What is CFP? Course Study Material, Exams & Eligibility

What is CFP? Course Study Material, Syllabus, Exams, Eligibility

Feb 6, 2023

In a country as huge as ours, India hardly has over 2,000 financial planning professionals. The need for such professionals especially post-pandemic has been on the rise as people went through the phase and realized the necessity of planning in not just their ‘careers’ but also in their ‘finances’. Is CFP CM for you

  • Boosting your investment planning skills
  • Current professionals can upgrade their careers and get better paychecks
  • Students looking for career in finance field can start with a good foundation
  • Professionals from non-finance fields looking for career change.

CFP CM is the only course in the personal financial field. It is an international certification by FPSB which is recognised across 27 countries globally. By the end of 2021, there were over 203,000 CFP professionals worldwide. This CFP course can be pursued in two pathways:

  1. Regular Pathway
  2. Challenge Pathway

Basic CFP eligibility criteria for Regular pathway:

  1. 10+2 from a recognised board.
  2. Students studying for their graduation
  3. Pass all the modules, Financial Plan Assessment

Basic CFP eligibility criteria for Challenge Pathway:

  1. CA/intermediate level, CFA, ICWA, CAIIB, CA aspirants can apply for Challenge Status.
  2. Experience of 3 years in the field of Accounting & Finance
  3. Appear for the final exam

CFP Study Material /Levels: In this CFP course, one can choose to go through all levels required to be a CFP or one can specifically choose to specialize in:

  1. Investment Planning Specialist
  2. Retirement and Tax Planning Specialist
  3. Risk and Estate Planning Specialist
  4. Integrated Financial Planning Course

Integrated Financial Planning In the final step of this CFP course, one has to submit a sample Financial Plan of a case study released by FPSB as part of Financial Plan Assessment. This one step is one of the most distinguishing characteristics where the students have the knowledge of making one plan before they appear for their final CFP exam and hence bolsters the career opportunities in the finance industry. One case study is released every two months and a one month time period is given to the students to prepare a plan. Only on the approval of this assessment plan, one can appear for their final CFP exam, Integrated Financial Planning. This CFP exam is three hours long with 50 questions of one score with no negative marks. CFP Exams: The CFP exam is a MCQ based online test. The CFP exams are conducted at the centers or students can opt for Home Proctored exams too.

CFP Exam Duration & Questions
Investment Planning Specialist, Retirement and Tax Planning Specialist & Risk and Estate Planning Specialist 2 Hours exam 75 multiple choice questions Computer-based test
Certified Financial Planner CM 3 hours Computer-based test Exam is split in 2 sections: Section 1 – One comprehensive case on Integrated Financial Planning (with 25 multiple-choice questions) Section 2 – 25 multiple-choice questions

 

CFP Fees: Regular Pathway CFP fee structure of FPSB:

  1. The students need to first pay for the registration : 195 USD
  2. The individual modules books : 35 USD each
  3. The individual modules exam : 72 USD each
  4. The final module book : 70 USD
  5. The final module exam : 144 USD
  6. Financial Plan assessment : 77 USD
  7. Specialist Certification : 105 USD

Challenge Pathway CFP fee structure of FPSB:

Activity Fees Details
Document Verification US$60
Registration (subject to approval)+ Full course material US$195 + US$175 Bundled price US$370
Financial Plan Assessment US$77 Per attempt
CFP Exam US$144 Per attempt
CFP Certification US$105

 

All the CFP CM students can appear for these exams at the centers in their vicinity or through home-proctored exams. FPSB also has a great focus on the ethics, competencies, code of conduct and professional practices so that the industry is made up of responsible professionals and that a standard is maintained. The Challenge Status has been introduced for professionals already working in the finance field through which once qualified for such criterion, the professionals can appear directly for the last step of Financial Plan Assessment and Integrated Financial Planning. Interested candidates can enquire for more information!

Also, check out our other courses

ACCA Course in Mumbai, CFA Course in Mumbai, CMA USA Course in Mumbai, US CPA Course in Mumbai.

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