FAQ: CFP Exam
How do I earn the Certified Financial Planner (CFP) certification?
Candidates must complete an FPSC Accredited Education Program or meet FPSC’s Approved Prior Credentials Policy, successfully complete the Certified Financial Planner® (CFP®) Examination and meet a work experience requirement. When applying for certification, candidates must disclose past or pending litigation proceedings, commit to abide by the CFP Code
of Ethics and acknowledge the right of FPSC to enforce the CFP Code of Ethics as described in its Disciplinary
Rules and Procedures. After certification, CFP professionals must attest annually to compliance with the CFP Code of Ethics and the Continuing
Education (CE) requirement. Certificants must also pay an annual renewal fee. Upon certification, certificants will receive information regarding the maintenance of the CFP certification. Please visit www.cfp-ca.org in the CFP Candidates hub for a list of accredited education programs and the complete Approved Prior Credentials Policy.
When is the CFP Examination held?
The examination is held twice yearly in June and November. Upcoming examinations are scheduled for November 17, 2007 and June 14, 2008. Registration for each examination closes one month prior to each exam date. The examination is available in both official languages.
May I register for the CFP Examination if I haven’t completed my education program?
Candidates who are currently enrolled in an accredited education program may register for the examination prior to completing the program. Those candidates will be classified by FPSC as ‘incomplete’ and will not be eligible to write until they have provided an eligibility document confirming completion of an accredited education program by the close of egistration for the respective exam. If the eligibility document is not received by the required date, the candidate will be automatically de-registered and given a partial refund of $200. Candidates must then re-register when they are able to provide an eligibility document Please refer to the matrix of appropriate eligibility documents. Alternatively, candidates may opt to postpone their registration to the next scheduled examination sitting for an additional fee of $100 by completing the Postponement/Withdrawal form. Requests for postponement must be received by the registration deadline. Candidates are responsible for providing their own documentation to FPSC. Application forms and supporting documentation can be mailed to FPSC or faxed to 416.593.7412.
Upon Completion of an Accredited Education Program, how long do I have to attempt the CFP Examination?
Candidates must attempt the CFP Examination within five years of completing an FPSC Accredited Education Program, without exception.
I did not pass the CFP Examination; how long do I have to re-write?
Candidates who have unsuccessfully written the CFP Examination must make a subsequent attempt within five years of their most recent attempt to maintain their eligibility. Candidates who fail to meet this schedule will be ineligible for future attempts and will be required to re-qualify through the completion of an FPSC Accredited Education Program.
How do I know if my experience qualifies?
Qualifying experience is based on a 35-hour work week and is defined as full-time (or equivalent part-time) personal financial planning related employment or self-employment for compensation. In the performance of their employment responsibilities, the candidate must apply the job-related knowledge, skills, attitudes and judgements as required for the CFP Examination and the experience gained should help the candidate in the application of the personal financial planning process to meet client’s needs. The experience can be earned within a five-year period prior to, concurrent with or subsequent to education and examination requirements; however, experience earned more than five years prior to or subsequent to passing the CFP Examination is generally not acceptable. The CFP designation is not conferred until the candidate has met this requirement. Candidates qualifying through the FPSC Approved Prior Credentials policy must have three years experience prior to writing the CFP Examination. When submitting the application for the CFP Examination those candidates are required to provide a detailed résumé outlining their work experience relative to financial planning and a letter signed by their current supervisor or manager providing details of the candidates current position, nature of activities, the work start date and the signatory’s contact information. Additional information, including the qualifying areas of experience is available at www.cfp-ca.org in the CFP Candidates hub.
I have a disability that may affect my ability to write the CFP Examination under standard conditions. What should I do?
Please refer to the Guide to CFP Examination for further information.
Once registered for the CFP Examination can I change my exam centre location?
Candidates must inform FPSC in writing of their request to change their exam centre location no later than one month prior to the exam. For alternative locations please refer to the Guide to CFP Examination.
What is the CFP Examination format and how do I prepare to write the examination?
The November 2007 CFP Examination will be a six-hour multiple choice examination divided into two three hour sessions. Further information regarding the structure of the November 2007 CFP Examination will be forthcoming.
The CFP Examination is based on the CFP Professional Competency Profile. Each question on the CFP Examination will be referenced to one or more of the competency statements listed in the CFP Professional Competency Profile. It is the responsibility of the individual candidate to determine his or her readiness to write any offering of the CFP Examination. Candidates could use any education or other preparatory materials available to them, along with the CFP Professional Competency Profile, supporting matrix and CFP Examination Blueprint to prepare and assess their knowledge and ability to effectively apply that knowledge to demonstrate competency. Candidates should find additional resources and study aids to fill any identified weaknesses and gaps. Please note that FPSC has not reviewed or accredited any preparatory courses offered by independent bodies. The CFP Professional Competency Profile and other materials including the CFP Code of Ethics and Guide to CFP Examination are available on our website. The Guide to CFP Examination outlines the format for the examination including how the examination is developed, topic coverage and the distribution of examination results and must be read prior to registering for the examination.
Examination candidates may also wish to explore FPSC's Student Associate Program. A nominal annual fee will provide student associates with access to a website with educational resources, CFP Examination related resources, employer,
education and professional profiles, a job site and financial planning related blogs.
Can I earn the CFP Designation if I live outside of Canada?
You can write the CFP Examination if you live outside Canada; however, you must be living in Canada or in an
non-affiliated country to obtain the CFP designation. Please review the Cross Border Use Policy.
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