A certified financial planner cfp?
Everyone's schedule varies, but as a rule of thumb, you should devote about 15+/- hours per week studying and preparing for the exam. It's easy to get discouraged when looking at the CFP® exam pass rates, which typically hover around the 60%-65% percentile for first-time takers.
Everyone's schedule varies, but as a rule of thumb, you should devote about 15+/- hours per week studying and preparing for the exam. It's easy to get discouraged when looking at the CFP® exam pass rates, which typically hover around the 60%-65% percentile for first-time takers.
Almost seven in ten of the 2,926 candidates who took the CFP Certification Exam in July passed. The CFP Board stats show that the 67% pass rate was the highest since July 2015 (70%), although the exam blueprint has been updated twice since, in March 2016 and March 2022.
What is CFP Board's policy for retaking the CFP® exam? You may attempt the CFP® exam a lifetime maximum of 5 times. (If you attempted the exam 4 or more times prior to January 1, 2012, you will be permitted a maximum of 2 additional attempts.)
Exam Format
The CFP® exam is a 170-question, multiple-choice test that consists of two 3-hour sections during one day. Each section is divided into two distinct subsections.
Candidates will find that creating a structured study schedule is critical for successfully preparing to take the exam. The general recommendation is to devote at least 10 hours per week, with a total of 150-250 hours (which means approximately 4-6 months of preparation), to study for the CFP exam.
Because CFP® certification indicates to the public your ability to provide financial planning without supervision, CFP Board requires you to have experience in the personal financial planning process.
CFP Board recommends you spend at least 250 hours studying for the exam. While that sounds overwhelming, the time goes pretty quickly between pre-study, the Candidate Handbook, required education courses, question bank time, review, practice exams, and your own preparations.
Some students take up to five years to complete the curriculum of coursework that is required to take the CFP Board Exam. Others take five months.
Because the case studies are the most difficult part of the exam, being able to master them will help to ensure success on the rest of the test as well. Students should not let themselves be intimidated by the difficulty of the material as they will most likely face similar situations in their careers.
Do you get CFP results immediately?
Receiving Your CFP® Exam Results
Preliminary results are provided to you immediately after taking the exam. Official results are provided to candidates by email approximately 4 weeks following the close of the testing window.
CFP® certification expires on the last day of the month indicated by your certification period. The expiration date is located on your CFP Board ID card, as well as in your CFP Board online account.
Earning your CERTIFIED FINANCIAL PLANNER™ certification is the most beneficial step you can take to accelerate your career and better serve your clients. As a CFP® professional, you'll enjoy a rewarding, in-demand career while helping people achieve their financial dreams.
The CFP and the Series 7 are two qualifications that may be of interest to financial professionals. In fact, a CFP could also look to complete the Series 7 exam. However, they serve different purposes. The CFP is for experienced financial planners looking to set themselves apart from the competition.
No. The practice exam is designed to assist candidates in their preparation for any administration of the CFP® exam based on the current Job Task Domains and Principal Topic areas.
Individuals may attempt the exam a maximum of three times within a 24-month period. If an individual fails the exam 3 times in a 24-month period, they must sit-out three exam administrations before registering for another attempt.
Most coursework you complete as part of the CFP® certification education program provides stackable credit towards a Masters in Personal Financial Planning in your future. Start our Self-Study option anytime and sit for the CFP® exam when you prefer.
| Age | Number | Percentage |
|---|---|---|
| 40-49 | 25,439 | 25.7 % |
| 50-59 | 21,803 | 22.1 % |
| 60-69 | 16,812 | 17.0 % |
| 70-79 | 5,372 | 5.4 % |
According to various studies and publications, the average age of financial advisors is somewhere between 51 and 55 years, with 38% expecting to retire in the next ten years.
In 2023, the cumulative pass rate till Q3 for all four sections of the CPA Exam ranged between 45-60%. The pass rate for the CPA Exam was 54% overall. Comparatively, CFP is easier than CPA.
What score do you need on CFP exam?
However, historically, the passing rate for the CFP exam has been around 62-67%, which means that the average score for those who pass the exam is likely to be in the range of 65-70%.
That means you'll need to study for about 2.5 – 3 months (100hrs/10hrs per week) before attending the review class. So, the best rule of thumb is to determine how many hours you can study each week and how many hours it takes to complete the pre-study materials.
These steps include paying: A non-refundable application fee ($200). A non-refundable certification fee for your initial certification period (prorated amount of the standard $455 annual certification fee).
The pass rate for the November exam was 64%. A total of 9,839 candidates took the exam in 2023, setting a new high for the number of CFP® exam-takers.
- Complete the Capstone course OR Capstone Alternative.
- Pass the CFP® exam.
- Complete the experience hours required for certification.
- Submit an official transcript for a bachelor's degree or higher from an accredited university, to complete your Education requirement.
