Professional Documents
Culture Documents
Guide To Cert
Guide To Cert
Guide To Cert
G U I D E T O C F P® C E R T I F I C A T I O N
M I S S I O N S TAT E M E N T
The mission of Certified Financial Planner Board of Standards Inc. (CFP Board) is to help
C F P B O A R D C O R E B E L I E F S A N D VA L U E S
3. Commitment to excellence
We believe that the CFP marks represent excellence in personal financial planning and a
professional obligation to a higher standard of conduct on behalf of the public.
We value the seven principles of integrity, objectivity, competence, fairness, confidentiality,
professionalism and diligence that exemplify professional behavior.
Copyright © 1988-2005, Certified Financial Planner Board of Standards Inc. All rights reserved.
G U I D E T O C F P ® C E R T I F I C AT I O N 1
Whether you are new to financial planning or have been in financial services for some time, CFP Board
welcomes your interest in CFP ® certification.
More people than ever are entering the financial planning profession, and we recognize the commit-
ment you are about to make, both in terms of becoming certified and in maintaining your certification
during your financial planning career. The CFP ®, CERTIFIED FINANCIAL PLANNER™ and certification marks
®
will provide you with the means to set yourself apart from others calling themselves financial planners.
Since their creation 30 years ago, the CFP marks have come to represent your agreement to adhere to
standards of excellence and a way to demonstrate to the public, and your peers, your commitment to a
career in financial planning. Amid the clutter of financial credentials, the rigorous competency, ethics
and practice standards met by those certified by CFP Board have allowed the CFP certification marks to
stand out from the crowd as financial planning’s highest standard.
The CFP certification differs from an educational designation or state license in that it is based upon
requirements that have been determined by extensive job analyses of actual practitioners in the field,
and, therefore, continues to evolve with the profession. Your decision to obtain CFP certification means
you will join tens of thousands of CFP practitioners worldwide who are committed to the financial plan-
ning process and who have agreed to put clients’ interests first. Not coincidentally, CFP Board research
has shown that the clients of CFP practitioners tend to be more satisfied with their financial planning
engagements and are more likely to recommend their planner to family or friends.
We understand that CFP certification is a voluntary process, one that requires a serious level of commit-
ment on your part. Your decision to pursue completion of the CFP certification requirements as outlined
in this booklet is a first, but significant, step. We welcome any additional questions you may have at
800-487-1497 or initialcert@CFP-Board.org and look forward to seeing your application for the CFP ®
Certification Examination.
As you read through this booklet, look for this symbol for tips and resources available on
www.CFP.net/become.
Rev. 3/05
2 G U I D E T O C F P ® C E R T I F I C AT I O N
CFP Board’s CFP ® certification program is accredited by the National Commission for Certifying Agencies (NCCA), the accred-
iting body of the Washington, D.C.-based National Organization for Competency Assurance. NCCA was created in 1989 to
establish nationally accepted criteria, guidelines and standards for certifying agencies. To receive such accreditation, CFP
Board’s CFP ® certification program meets the highest national voluntary standards for private certification set forth by the
NCCA.
CFP Board does not discriminate in certification opportunities or practices on the basis of race, color, religion, sex, national
origin, age, disability or any other characteristic protected by law. Contributions accepted by CFP Board are tax deductible.
In certain instances, CFP Board may release lists of individuals who have requested a copy of this booklet, and/or lists of
applicants for the CFP ® Certification Examination to selected other parties, including CFP Board-Registered Programs and
Review Course providers, who agree to CFP Board’s usage requirements. Upon request, CFP Board will not release an
individual’s name to outside parties.
Rev. 3/05
TA B L E O F C O N T E N T S 3
Table of Contents
CFP ® Certification Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Initial Certification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Certification Renewal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
Online Tools and Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6
The Education Requirement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7
Bachelor’s Degree Requirement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7
Completing the Education Requirement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9
CFP Board-Registered Programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10
Challenge Status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
Transcript Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
List of CFP Board-Registered Programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13
CFP Certification Examination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25
®
Eligibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25
Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25
Logistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26
Scoring . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
Re-Examination Procedures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31
Review and Appeals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31
Exam Review Course Providers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31
List of Review Course Providers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .32
Topic List for CFP ® Certification Examination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33
Provided Formulas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .40
Work Experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .41
Definition of Work Experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .41
Work Experience Standards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42
Pre-Certification Continuing Education . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42
Internships/Residency Programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .43
Verification of Experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .43
Work Experience Frequently Asked Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44
Ethics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .45
Verification of Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .45
Authorization to Use the CFP Marks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46
Declaration Packet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46
Initial Fee and Continuing Education (CE) Reporting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46
International Reciprocity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46
Grievance Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .47
Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .48
Applying for Transcript Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .48
Application for Transcript Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .49
CFP ® Certification Examination Application Instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .51
CFP ® Certification Examination Application . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .53
Rev. 3/05
4 OVERVIEW
Recently, CFP Board conducted a nationwide consumer survey among upper-income households. That
survey reflects the public’s growing demand for financial planners who adhere to rigorous standards. Of
those surveyed:
CFP certificants must pass the comprehensive CFP ® Certification Examination, agree to abide by CFP
Board’s Code of Ethics and Professional Responsibility which puts clients’ interests first and abide by the
Financial Planning Practice Standards which spell out what clients should be able to reasonably expect
from the financial planning engagement. These are just some of the reasons why the CFP certification is
becoming increasingly recognized.
In addition, the CFP certification prepares you for a career-long commitment to meeting the ever-
changing needs of your clients. As a CFP professional, you become a coach and problem-solver, able to
provide truly personalized services to clients and to maintain high levels of financial planning and pro-
fessionalism. Finally, your expertise and credibility as a financial planner is instantly communicated with
the CFP marks — the financial planning certification most sought after by consumers and financial plan-
ners alike.
INITIAL CERTIFICATION
To become certified, you are required to meet the following four initial certification requirements
(known as the four “Es”):
• Education
• Examination
• Experience
• Ethics
These four components are briefly described on the next page; subsequent sections of this booklet pro-
vide detailed information about each component. While the CFP certification requirements may be
changed from time to time, you will be expected to meet the requirements that are in place at the time
you apply for the CFP ® Certification Examination.
More information can be found on www.CFP.net/aboutus regarding CFP Board’s activities and volun-
teer boards. Visit www.CFP.net for information on other financial planning organizations.
Rev. 3/05
OVERVIEW 5
Education
To take the CFP ® Certification Examination, you will need to be knowledgeable in the
financial planning topics listed on page 33. For an outline of the three ways to complete
the education requirement, see page 9. Beginning in January 1, 2007, candidates for certi-
fication must have a bachelor’s degree, in any discipline, in order to obtain CFP
certification. The college degree requirement is a condition of initial certification; it is not
a requirement to be eligible to take the CFP ® Certification Examination and does not have
to occur before sitting for the exam or fulfilling the work experience. The bachelor’s
degree requirement will be waived for those individuals who have met all certification
requirements prior to 2007.
Examination
After you have successfully met the education requirement, you will be eligible to apply
for the CFP ® Certification Examination. The CFP® Certification Examination assesses your ability
to apply your financial planning knowledge (based on the topic list on page 33), in an
integrated format, to financial planning situations. Combined with the education and
experience requirements, it assures the public that you have met a level of competency
appropriate for professional practice. Details about the CFP ® Certification Examination are
on page 25.
Experience
Because CFP certification indicates to the public your ability to provide financial planning
without supervision, CFP Board requires you to have experience in the financial planning
process. Three years of relevant experience with a bachelor’s degree or higher is required.
Until 2007, individuals who do not have a bachelor’s degree may substitute the degree
requirement with five years of relevant experience. The work experience requirement can
be completed either before or after successfully completing the CFP ® Certification
Examination. Detailed information about this requirement is on page 41.
Ethics
When you have completed the education, examination and experience components of
the CFP certification process, you will receive a declaration packet from CFP Board. This
packet includes a CFP® Certification Application that must be signed by you, asking you to
disclose whether you have ever been a party (or involved) in any criminal, civil, govern-
mental, or self-regulatory agency proceeding or inquiry. CFP certification also requires you
to agree to adhere to CFP Board’s Code of Ethics and Professional Responsibility and
Financial Planning Practice Standards, and acknowledge CFP Board’s right to enforce them
through its Disciplinary Rules and Procedures. Details about the ethics requirement are on
page 45.
CERTIFICATION RENEWAL
Once you have been authorized to use the CFP marks, you must meet CFP Board’s renewal standards to
continue to use them. Your CFP® certification must be renewed every two years at the end of your
renewal month in an odd or even year (based on your birth date.) In order to position you in the cor-
rect period, your initial continuing education (CE) requirement and renewal fee are prorated.
The renewal requirements are 1) renewal application, 2) $360 renewal fee (non-refundable), and 3) 30
hours of CE. The CE requirement includes 28 hours in the accepted financial planning topics (starting on
Rev. 3/05
6 OVERVIEW
page 33) and two hours from a pre-approved program on CFP Board’s Code of Ethics and Professional
Responsibility or Financial Planning Practice Standards.
A renewal packet, including a renewal application with notice of fees due will be sent to you approxi-
mately two months before your certification expires. The renewal fee helps cover the costs associated
with ethics enforcement, protection of the marks against infringement, maintenance of professional
standards of practice and public awareness activities related to the CFP marks.
The renewal requirements are explained in more detail on CFP Board’s Web site at www.CFP.net/certifi-
cants.
CFP Board is dedicated to providing excellent service to its stakeholders. Our Web site,
www.CFP.net/become, offers the most up-to-date information, and can be a valuable resource for you
as you work to achieve the CFP certification. Another section of the site, www.CFP.net/learn, demon-
strates our commitment to educating the public about the benefits of financial planning and the
importance of choosing a CERTIFIED FINANCIAL PLANNERTM professional.
www.CFP.net/become
Set up a free account today. On www.CFP.net/become you have access to the most com-
prehensive, up-to-date information regarding the CFP® certification. Go to the Web site to
look for a registered education provider, find sample exam questions, find an exam
review course provider or learn more about post-certification volunteer activities.
www.CFP.net/learn
Here, consumers can learn about reducing debt, saving for retirement and managing
other common financial issues; participate in polls and surveys; subscribe to CFP Board’s
eNewsletter to get more information about financial planning; learn how to choose a
financial planner and download a personal data organizer to help prepare them for
meeting with a planner; learn about the high standards met by CFP professionals and ver-
ify that a planner in their area has the CFP certification. To help educate the public about
the CFP marks, CFP Board also advertises in national magazines, participates in trade
shows and distributes radio and TV public service announcements.
Log in to receive immediate updates and news from CFP Board at www.CFP.net/login.
Rev. 3/05
E D U C AT I O N 7
Although education is a fundamental part of achieving CFP certification, fulfillment of the education
requirement does not automatically equate to preparedness for the CFP ® Certification Examination.
Before determining an examination preparation strategy and applying for the exam, all individuals
considering taking the CFP ® Certification Examination should review the currency and completeness of
their education against the current list of topics (see page 33). Retaking courses or taking additional
courses to improve currency and mastery of specific topic areas are important complements to the edu-
cational foundation. Previous experience and exam preparatory factors, such as taking an appropriate
review course, are also beneficial. Taking actions to ensure your education is comprehensive and up-to-
date may improve your ability to synthesize and evaluate complex concepts at an advanced cognitive
level.
Remember, the CFP ® Certification Examination does not test textbook theories, but rather it assesses
your ability to apply your financial planning knowledge in an integrated approach to deal with “real-
life” financial planning situations.
Beginning January 1, 2007, in addition to fulfilling the education requirement, a bachelor’s degree, in
any discipline, will be required in order to attain CFP certification. The college degree requirement is a
condition of initial certification; it is not a requirement to be eligible to take the CFP ® Certification
Examination and does not have to occur before sitting for the exam or fulfilling the work experience. A
bachelor’s degree in any major from a regionally accredited U.S. college or university will be accepted,
and evidence (photocopy of degree) will be required at the final stage of initial certification.
Very important note for individuals not planning to obtain a college degree: Individuals without a col-
lege degree can take the CFP ® Certification Examination and may even be certified, but all certification
requirements – education, passing the exam, five years of experience and the ethics component – must
be met and the CFP® Certification Application must be completed, signed and received by CFP Board by
December 31, 2006.
• Individuals without a college degree will need to have passed the CFP ® Certification
Examination by November 2006, and met the five-year experience requirement and the
ethics requirement by December 31, 2006.
• Individuals without a college degree and no qualifying experience would have needed
to have started gaining financial planning experience before 2002 in order to meet the
five-year experience requirement. All individuals without a college degree who have
Rev. 3/05
8 E D U C AT I O N
not completed the five-year experience requirement by December 31, 2006, will be
required to have a college degree.
• Individuals without a college degree and with five years of experience are encouraged
to take the exam by July 2006, to avoid the pressure of having only one last chance to
pass the exam.
• Individuals without a college degree, even after 2007, may take the exam, but they
must then obtain a degree within five years after passing the exam in order to be certi-
fied.
• Individuals without a college degree, who have fulfilled the exam requirement, but
who are not certified by December 21, 2006, will have five years from the exam date to
complete the other initial certification requirements — five years of experience, ethics
component and a bachelor’s degree – before their candidacy is terminated and the
exam will need to be retaken.
• Individuals without a degree who pass the November 2006 exam will have 30 calendar
days from the date CFP Board delivers (electronic or hardcopy) the declaration packet to
return a completed declaration packet to CFP Board.
• Individuals without a degree who receive a declaration packet after July 1, 2006, will
have until December 31, 2006, to return a completed declaration packet to CFP Board.
• Individuals without a degree who receive a declaration packet after December 1, 2006,
will have 30 calendar days to return a completed declaration packet to CFP Board.
• Individuals without a degree, in CFP Board’s professional review process, who have
completed all requirements before December 31, 2006, except for the ethics require-
ment, will be certified after December 31, 2006, as long as professional review clears
the individual and the individual submits any additional required paperwork within 30
calendar days of the request.
CFP Board can not predetermine whether individuals will meet certain requirements, but will offer
counsel to individuals seeking guidance about the education, bachelor’s degree or experience require-
ments.
Rev. 3/05
E D U C AT I O N 9
You can complete the educational requirement for CFP® certification through one of the following
three methods:
2. Challenge Status
CPA, ChFC, CLU, CFA®, D.B.A., Ph.D.
(Business or Economics), Licensed attorney
➢
CFP®
Certification
Examination
Or
CFP Board-Registered
Program
➢
Rev. 3/05
10 E D U C AT I O N
You can complete a course of study in financial planning offered by an educational institution with a
curriculum registered with CFP Board, as listed on page 13. For the most up-to-date list, with expanded
contact information, visit CFP Board’s Web site at www.CFP.net/become.
CFP Board has reviewed the upper division undergraduate level or higher educational
programs at registered institutions to ensure that they cover the core knowledge needed
to practice personal financial planning. Regardless of program type, the curriculum
taught must be the equivalent of at least 15 semester credit hours. Each educational
institution may present the topics under various course names and titles, such as risk
management, financial analysis or estate planning. However, each Registered Program
will cover all of the topics needed to meet the education requirement for CFP ® certifica-
tion. Some programs include various specialized courses or a review course to better
prepare you for the CFP ® Certification Examination. Program Directors at any CFP Board-
Registered Program have the authority to waive students out of courses in accordance
with their college or university policy.
Contact one of the programs listed on pages 13-24 of this booklet (or from the list on
www.CFP.net/become) for more information about courses offered, class schedules,
tuition and transfer of credit for courses previously taken. In general, the course work in a
certificate level program can be completed in 18 to 24 months.
CFP Board does not endorse one program over another. All programs cover the same
core curriculum, yet vary in style, length and delivery method. They may be certificate
programs, undergraduate programs or graduate programs. Programs can also differ in
their delivery methods with some having traditional classroom-based instruction and
others offering self-study or online courses. All institutions are accredited by their region's
accrediting body.
Note: individuals who do not fulfill all of the initial certification requirements by
December 31, 2006, must have a bachelor’s degree from a U.S. regionally accredited col-
lege or university, in any field, in order to obtain CFP certification.
Because the educational offerings are so varied, consider asking the Program Director the
following questions when evaluating a program:
Rev. 3/05
E D U C AT I O N 11
CHALLENGE STATUS
CFP Board has approved specific academic degrees and professional credentials as fulfilling the educa-
tion requirement for CFP ® certification. If you have one of the following degrees or credentials, you will
automatically be eligible to sit for the CFP ® Certification Examination:
Only the degrees and credentials listed above are approved for challenging the CFP ® Certification
Examination. In addition, the Certified Employee Benefits Specialists (CEBS) credential plus the addition
of two courses will qualify an individual to sit for the CFP ® Certification Examination (see details on
page 12). If your degree or credential is not on this list, you may wish to consult the transcript review
process as an alternate route to the CFP ® Certification Examination.
To apply for the CFP ® Certification Examination, use the application form at the back of this booklet or
download the form from CFP Board’s Web site at www.CFP.net/become.
TRANSCRIPT REVIEW
CFP Board recognizes that you may have covered some of the components in CFP Board’s financial plan-
ning topic list through previous educational coursework. CFP Board will consider granting credit
towards the educational component required for CFP ® certification if:
1. You can demonstrate that you have successfully completed equivalent upper-division
level college or university coursework at a regionally accredited college or university;
and/or
2. You have one of the credentials listed on page 12 that CFP Board has pre-approved for
credit towards the educational component.
Review the detailed topic list on page 33 and use the checklist on the transcript review application
found on page 51 of this booklet against your college transcript(s) to assess if you have covered any CFP
Board topics.
Look for upper-division level courses (junior, senior or graduate level coursework with course numbers
of typically 300 or greater) with titles such as Personal Income Tax, Insurance, Investments, Estate
Planning, Retirement Planning and Personal Financial Planning.
To satisfy the entire educational component via a transcript review your financial planning-related
coursework must total at least 15 upper-division semester hours or 20 quarter hours. The courses must
have been taken at a U.S. regionally accredited four-year educational institution.
If, after reviewing your transcript, you feel that you have completed all or part of the necessary finan-
cial planning topics at an appropriate institution, you may apply to CFP Board for a transcript review
(see application on page 51).
*If you are fulfilling the education requirement on the basis of an inactive CPA license or law license, you will need to pro-
vide a letter from the applicable licensing board stating that you are in good standing with that authority.
**Degree must be from an accredited U.S. college or university.
Rev. 3/05
12 E D U C AT I O N
The following credentials have been deemed to fulfill certain portions of the CFP ® certification’s educa-
tion requirement. The first column lists the credential; the second lists the corresponding topics in CFP
Board’s topic list.
Continuing education courses, firm training and/or National Association of Securities Dealers (NASD®) or
state licenses do not fulfill any of CFP Board’s initial educational requirement.
*Individuals who hold the CEBS credential may complete two additional courses (Personal Financial Planning I and Personal
Financial Planning II) from the Wharton School and the International Foundation for Employee Benefit Plans (IFEBP) to
satisfy CFP Board’s education requirement. These individuals will not need to complete a transcript review application or
submit a transcript review fee. Instead, they should use the CFP ® Certification Examination Application ( on page 55) and
attach a copy of the CEBS designation and either a transcript or score report showing completion of the Personal Financial
Planning I and II courses.
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E D U C AT I O N 13
The Distance Education Programs listed below are presented using self-study and/or online
delivery methods. The schools indicated by a (*) may also offer in-classroom instruction at vari-
ous locations throughout the country – contact the school for a list of additional locations.
The American College (*) Florida Community College at Kaplan University (*)
CFP ® Certification Curriculum Jacksonville – Institute for Certificate in Financial Planning
Financial Studies (*)
Mr. King McGlaughon Mr. Keith R. Fevurly, CFP ®
CERTIFIED FINANCIAL PLANNER™ Certification
610-526-1311 Education Program Davenport, IA
Bryn Mawr, PA Ms. Melissa Chandler 866-523-3473
kingm@amercoll.edu Jacksonville, FL infofp@kaplancollege.edu
904-633-8114
Masters of Sciences in Financial machandl@fccj.org Metropolitan Community College (*)
Services Certificate of Achievement, Personal
Dr. Walt Woerheide Financial Planning
Florida State University
610-526-1398 Ms. Lori Lothringer
Certificate in Financial Planning
Bryn Mawr, PA Omaha, NE
Dr. Susann Rudasill
joannep@amercoll.edu 402-537-3830
Tallahassee, FL
llothringer@metropo.mccneb.edu
850-644-1571
Boston University (*)
srudasill@cpd.fsu.edu
Boston University Online Program for Mississippi State University (*)
Financial Planners Certificate in Financial Planning
Ms. Janice Smith Golden Gate University (*)
Dr. Edwin Duett
Boston, MA M.S. in Financial Planning
Mississippi State, MS
617-358-2272 Graduate Financial Planning Certificate
662-325-2341
cpe@bu.edu M.S. in Finance, Financial Planning
Emphasis eduett@cobilan.msstate.edu
Undergraduate Financial Planning
California Lutheran University (*) Certificate Montana State University (*)
M.B.A., Financial Planning Dr. Steve Hawkey (Great Plains Interactive Education)
Dr. Somnath Basu San Francisco, CA M.S. in Family Financial Planning
Thousand Oaks, CA 415-442-6584 Certificate in Family Financial Planning
805-493-3980 shawkey@ggu.edu Dr. Deborah Haynes
basu@clunet.edu Bozeman, MT
Iowa State University (*) 406-994-5013
City University (*) (Great Plains Interactive Education) dhaynes@montana.edu
M.B.A. in Personal Financial Planning M.F.C.S. (Master of Family and Consumer
Graduate Certificate in Personal Financial Sciences) with a Specialization in North Dakota State University (*)
Planning Family Financial Planning (Great Plains Interactive Education)
Mr. Marvin Will Certificate in Family Financial Planning M.S. in Family Financial Planning
Bellevue, WA Dr. Mary Winter Certificate in Family Financial Planning
425-709-5456 Ames, IA Dr. Greg Sanders
mwill@cityu.edu 515-294-5982 Fargo, ND
mfcsinfo@iastate.edu 701-231-8272
College for Financial Planning (*)
greg.sanders@ndsu.nodak.edu
Master of Science, Financial Planning Kansas State University (*)
Concentration (Great Plains Interactive Education)
Dr. Kurt Miller Oglethorpe University (*)
M.S. in Family Studies and Human Financial Planner Program
Greenwood Village, CO Services with a Specialization in
800-237-9990 Family Financial Planning Dr. Christopher Ames
enroll@fp.edu Certificate in Family Financial Planning Atlanta, GA
Ms. Estoria M. Maddux, CFP® 404-364-8318
CERTIFIED FINANCIAL PLANNER™ Certification Manhattan, KS cames@oglethorpe.edu
Professional Education Program 785-532-1480
Mr. Michael B. Cates, CFP ® ipfp@ksu.edu
Greenwood Village, CO
800-237-9990
enroll@fp.edu
For the most up-to-date list, with expanded contact information, of Distance Programs, visit
CFP Board’s Web site at www.CFP.net/become. You can find additional locations of the schools
online with Web site links to the schools.
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14 E D U C AT I O N
Oklahoma State University (*) Texas A&M University – Commerce (*) University of Nebraska (*)
(Great Plains Interactive Education) Certificate in Financial Planning (Great Plains Interactive Education)
M.S., in Family Financial Planning Mr. Kenneth M. Washer, CFP® M.S. in Family and Consumer Sciences
Dr. Lona Robertson Commerce, TX with a Specialization in Family
Financial Planning
Stillwater, OK 903-886-5674
Certificate in Family Financial Planning
405-744-5053 kenneth_washer@tamu-commerce.edu
Dr. Sheran Cramer
osu-ches@okstate.edu
Omaha, NE
University of California – Irvine (*)
402-554-2450
South Dakota State University (*) Personal Financial Planning Certificate
scramer@unomaha.edu
(Great Plains Interactive Education) Ms. Lori Munoz-Reiland
M.S. in Family and Consumer Sciences Irvine, CA
Utah State University (*)
Certificate in Family Financial Planning 949-824-2282
Personal Financial Planning Certificate
Dr. Bernadine Enevoldsen lmmunoz@uci.edu Program Online
Brookings, SD Dr. E. Vance Grange, CFP ®
605-688-4328 University of California – Los Angeles (*) Logan, UT
bernadine_enevoldsen@sdstate.edu Certificate Program in Personal 435-753-9699
Financial Planning
vance.grange@usu.edu
Ms. Monica French
Los Angeles, CA
310-206-1689
mfrench@unex.ucla.edu
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E D U C AT I O N 15
The schools indicated by a (*) may offer in-classroom instruction at various locations
throughout the country – contact the school for a list of additional locations. For the most
up-to-date list, go to www.CFP.net/become.
For the most up-to-date list, with expanded contact information, of CFP Board-Registered
Programs, visit CFP Board’s Web site at www.CFP.net/become. You can find additional locations of
the schools online with Web site links to the schools.
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16 E D U C AT I O N
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18 E D U C AT I O N
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E D U C AT I O N 19
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20 E D U C AT I O N
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E D U C AT I O N 21
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22 E D U C AT I O N
Oklahoma State University Penn State Erie – The Behrend College SOUTH CAROLINA
(Great Plains Interactive Education) B.S. in Business (several majors) with Clemson University
M.S. in Family Financial Planning Credit Certificate in Financial B.S., Financial Management with a
Planning Study Area in Financial Planning
Dr. Lona Robertson
Mrs. Kay N. Johnson, CFP ® Dr. John Alexander, Jr.
Stillwater, OK
Erie, PA Clemson, SC
405-744-9531
knj2@psu.edu 864-656-0547
osu-ches@okstate.edu
alexanj@clemson.edu
Pennsylvania College of Technology
OREGON Competency Credential in Financial College of Charleston
University of Portland Planning
Financial Planning Education
Executive Certificate in Financial Baccalaureate Degree, Minor in Certificate Program
Planning Financial Planning
Ms. Jessica Hartzog
Ms. Elise Petersen Dr. Roy Fletcher
North Charleston, SC
Portland, OR Williamsport, PA
843-953-6684
503-943-8420 570-326-3761
north@cofc.edu
petersen@up.edu rfletche@pct.edu
Lander University
Saint Joseph's University
PENNSYLVANIA Professional Financial Planning
M.S., Financial Services Administration Program
The American College (*) Dr. Christopher Coyne, CFP® Mr. James Benton
Master of Sciences in Financial Services Philadelphia, PA Greenwood, SC
Dr. Walt Woerheide 610-660-1668 864-388-8302
Bryn Mawr, PA ccoyne@sju.edu jbenton@lander.edu
610-526-1398
joannep@amercoll.edu Slippery Rock University Midlands Technical College
B.S.B.A., B.S., B.A., Various Majors and CFP ® Certification Education Program
CFP ® Certification Curriculum Minors
Ms. Patsy Towery
Mr. King McGlaughon Certificate in Personal Financial
Planning Columbia, SC
Bryn Mawr, PA
Dr. John M. Misner, CFP ® 803-732-5256
610-526-1311
Slippery Rock, PA toweryp@mtc.mid.tec.sc.us
kingm@amercoll.edu
724-738-2575
john.misner@sru.edu University of South Carolina
Duquesne University
CFP ® Certification Education Program
Executive Certificate in Financial
Planning Widener University Mr. Charlie Farrell
Ms. Marianne Leister Master’s in Business Administration – Columbia, SC
Pittsburgh, PA Financial Planning Track rlippert@moore.sc.edu
412-396-4933 M.S., Taxation
leister@duq.edu B.S., Economics/Financial Services Track
SOUTH DAKOTA
Certificate in Financial Planning
Colorado Technical University – Sioux
Edinboro University – Pennsylvania Ms. Lisa Bussom Falls Campus
B.S., Business Administration/Financial Chester, PA Bachelor of Science in Finance
Services 610-499-4305 Certificate in Personal Financial
Dr. Michael Hannan lisa.b.bussom@widener.edu Planning
Edinboro, PA Mr. Robert Erkonen
814-732-2407 Sioux Falls, SD
RHODE ISLAND
hannan@edinboro.edu 605-361-0200
Bryant University
rerkonen@sf.coloradotech.edu
Certificate Program in Financial
Mercyhurst College
Planning
B.A., Finance South Dakota State University
Ms. Jennifer Chasse
Certificate in Financial Planning (Great Plains Interactive Education)
Smithfield, RI
Mr. Robert D. Cullen, CFP® M.S. in Family and Consumer Sciences
401-232-6501
Erie, PA Certificate in Family Financial Planning
jchasse@bryant.edu
814-824-2332 Dr. Bernadine Enevoldsen
rcullen@mercyhurst.edu Brookings, SD
Rhode Island College
Masters of Professional Accountancy 605-688-4328
Moravian College bernadine_enevoldsen@sdstate.edu
Dr. Charles Snow
Certificate Program in Personal
Providence, RI
Financial Planning
401-456-9528
Mr. John D. Rossi, III, CFP ®
csnow@ric.edu
Bethlehem, PA
610-861-1380
mejdr01@moravian.edu
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E D U C AT I O N 23
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24 E D U C AT I O N
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E X A M I N AT I O N 25
ELIGIBILITY
You can apply for the CFP ® Certification Examination when you have successfully fulfilled the education
requirement (see page 7).
DEVELOPMENT
To develop exams that reflect the current practice of financial planning, CFP Board conducts regular job
analyses by reviewing the typical tasks performed by planners and assessing the knowledge and skills
needed to perform these tasks.
Valid job-related exam topics are developed and exam questions written by task forces that include
practicing financial planners and financial planning educators. The exam questions are subjected to a
rigorous review by CFP Board’s Board of Examiners and subcommittees of content experts composed of
practicing planners and educators. Each question is answered – and assessed – by practicing financial
planners. A list of exam topics can be found on page 33.
Samples of retired exam questions may be accessed on CFP Board’s Web site at www.CFP.net/become.
The sample multiple-choice questions provide you with an understanding of question format, but
should not be used as a practice exam or indicator of exam preparedness.
Typically, new legislation and changes, such as tax law changes, will not be tested on the exam until six
months following the date enacted.
The second type of question is presented following an extensive case scenario. After
reading each scenario, you will be asked to answer 10 to 20 multiple-choice questions.
Typically, there are three case scenarios and three corresponding sets of questions on each
exam. Each case question is worth three points.
Balance of Emphasis
The CFP ® Certification Examination will test your ability to integrate knowledge from all
of CFP Board’s specified topic areas (see page 33). Questions may focus on discrete topics
or may require knowledge of several topics. Each exam attempts to achieve a distribution
of the topics based on the target percentages shown for each category.
Go to www.CFP.net/become to view sample exam questions, find a list of financial planning topics
covered on the exam and view upcoming exam deadlines.
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26 E X A M I N AT I O N
Cognitive Level
The cognitive levels that are tested on the CFP ® Certification Examination are:
• Knowledge
• Comprehension/Application
• Analysis/Synthesis
• Evaluation
The CFP ® Certification Examination measures your critical thinking and problem-solving
ability, with less emphasis on the first cognitive level.
LOGISTICS
Test Dates
The CFP ® Certification Examination is scheduled to last 10 hours and is held three times a
year, generally on the third Friday and Saturday of March, July and November. The exam
consists of one four-hour session on Friday afternoon, and two three-hour sessions on
Saturday. See the exam application at the back of this booklet or visit
www.CFP.net/become for test dates and locations.
Application Submittal
CFP Board
Exam Application Department
1670 Broadway, Suite 600
Denver, CO 80202-4809
F: 303-860-7388
Your application may be submitted via fax with payment charged to a MasterCard,
American Express or Visa account (please provide the expiration date). Since CFP Board is
not responsible for incomplete or illegible fax transmittals, we suggest that faxes be fol-
lowed by hardcopy within five working days, together with evidence of the successful fax
transmittal. After creating an account, you may verify that CFP Board has received your
exam application at www.CFP.net/login.
Your completed application must be received by the printed deadline. (Note: Deadline
date refers to the date of receipt by CFP Board, not the date of postmark. Applications
must be complete at the time of receipt to avoid missing the registration deadline. The
application deadline for each exam is approximately seven weeks before the exam date.
Consult the exam application or CFP Board’s Web site for exact dates.)
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E X A M I N AT I O N 27
Only complete exam applications will be processed. The following constitutes a “com-
plete” application:
Your exam application will be reviewed by CFP Board; however, your exam will be admin-
istered by Thomson Prometric, a subsidiary of Educational Testing Services (ETS) in
Princeton, New Jersey. Questions about the actual administration of the exam, such as
schedule, admission tickets or score reports, should be directed to:
Thomson Prometric
664 Rosedale Road
Princeton, NJ 08540-2218
P: 609-720-6811
F: 609-720-6550
If you cannot test on Fridays and/or Saturdays because of religious beliefs, CFP Board will
make alternate testing arrangements. A written request for such accommodations must
be attached to the exam application, along with a letter from your religious leader.
CFP Board will make reasonable accommodations for anyone who, because of a disability,
will need special accommodations to sit for the CFP ® Certification Examination. A physi-
cian’s letter outlining the special accommodations needed must be attached to the exam
application.
CFP Board will establish international test sites for the CFP ® Certification Examination on
a case-by-case basis for a site fee of $1,200 in addition to the regular exam fee.
Fee
The fee for the CFP ® Certification Examination is $595, and must be paid in full by the
application deadline. Provisions for refunds and conditions of forfeiture of fees are
described in the “Withdrawal” section on page 28.
Veteran Affairs
The fee for the CFP ® Certification Examination is eligible for Veteran Affairs (VA) reim-
bursement through the License and Certification Approval System (LACAS) under United
States Code Title 38, Chapter 3689. Go to www.gibill.va.gov/education (Licensing and
Certification section) for more information.
Scheduling Confirmation
Approximately one to two weeks after CFP Board has received your exam application,
you will be sent confirmation of your exam registration. Once you have created an
account, you can also confirm your exam status with CFP Board at www.CFP.net/login.
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28 E X A M I N AT I O N
You will be sent an admission ticket two to three weeks before the exam date. The exact
time and location of the exam are printed on the ticket. You must bring the ticket with
you to the exam on both days. In general, you must report to the testing facility by 12:30
p.m. on Friday and 8:30 a.m. on Saturday. A government issued photo ID, matching the
name under which you registered, must be presented at the exam center.
Withdrawal
If you are unable to take the exam once you have registered, you may, in accordance with the
deadlines listed below, choose one of the following options:
1. Withdraw from the exam by notifying CFP Board, pay a $50 rescheduling fee and register to
take the exam at a later date.
2. Withdraw from the exam by notifying CFP Board and request a refund of the refund-
able portion of your exam fee.
3. Withdraw from the exam by notifying CFP Board and maintain a credit (exam fee minus
$50) with CFP Board.
You may re-register to take the exam or obtain a refund of the refundable portion of
your exam fee from any time after the withdrawal until 24 months from the date of the
exam for which you last registered. However, if you fail to re-register for an exam or
obtain a refund within this 24-month period, the entire exam fee will be forfeited.
The refundable portion of your exam fee is the amount of the exam fee, less a $50 can-
cellation fee.
Requests for withdrawal or re-registering received after the Notification of Withdrawal dates
listed above will not be honored and the entire exam fee will be forfeited.
Failure to Appear
If you fail to appear for the exam, you will forfeit the entire exam fee. Certain allowances
are made for medical or other emergencies.
CFP Board will consider waiving the withdrawal penalties or fee forfeiture in case of a
medical emergency. Your request for such a waiver must be made in writing and sup-
ported by documentation from a physician. Your request must be received within three
weeks after the exam. Requests will be reviewed on a case-by-case basis.
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E X A M I N AT I O N 29
• Admission ticket
• Government issued photo identification, such as a driver’s license, matching name under
which you registered
• #2 pencils (or other comparable soft graphite pencils)
• One or more battery-powered, hand-held financial function calculator(s)*
No food or drink (including water) is permitted in the exam room. Individuals who require
access to food or drink during any of the testing sessions, for documented medical reasons,
should seek special accommodations under the “Alternate Test Dates and Special
Accommodations” section on page 27.
The exam booklets will contain other needed information, such as income tax rate tables
for individuals, corporations and estates and trusts; income tax standard deductions,
phaseout thresholds for itemized deductions and personal exemptions; the estate and gift
tax table and a table of applicable credit amounts; investment formulas; and scratch
paper. The investment formulas provided in each test booklet are listed on page 40.
Misconduct
You will be expected to conduct yourself in an ethical manner before, during and after
the CFP ® Certification Examination. Actions such as, but not limited to, using any prohib-
ited aids in connection with the exam, attempting to give or receive assistance, or
otherwise communicate in any form with another person about the exam during the
exam administration, will result in investigation by an independent entity and/or CFP
Board. In some cases, CFP Board may take disciplinary action, if appropriate. If you are
found to have demonstrated exam misconduct, your exam may not be scored, the exam
fee may be forfeited and you may be barred from taking any CFP Board exam for three
years from the date of the incident.
Before taking the exam you will sign a statement prohibiting you from sharing exam
questions with any entity other than CFP Board. Revealing questions may result in discipli-
nary action including, but not limited to, monetary restitution, being permanently barred
from taking any CFP Board exam or prosecution under copyright law. If a review course
provider or academic program asks you to reveal specific questions – as opposed to a gen-
eral impression of the exam and strengths/deficiencies in that provider’s program – please
report the incident to CFP Board.
SCORING
Answers to the exam questions must be recorded on the answer sheet. No credit is given for answers
noted in the exam booklet. Select only one answer for each question. Multiple responses to a single
question will be scored as incorrect. Your score is based on the number of correctly answered questions.
*You will need a financial calculator with an internal rate of return (IRR) function for problems with unequal periodic cash
flows. Calculators with alphabetic keys will not be permitted.
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30 E X A M I N AT I O N
Exam Results
Within six weeks after the exam date, you will be sent your exam results via first-class
mail. Exam results will not be sent by express mail. As soon as the results are final, they
will be made available on CFP Board’s Web site at www.CFP.net/login (you will need to
log in to access your personal information). An e-mail will be sent to all testers to notify
them when the final results have been posted.
Neither CFP Board nor Thomson Prometric will disclose exam results over the phone or by
fax. All exam books are the property of CFP Board and will not be returned to you. Ten
days after exam reports have been mailed, duplicate exam reports may be requested. This
request should be made to:
Pass Score
The CFP ® Certification Examination is a pass or fail exam. The primary goal of a certifica-
tion exam is to separate those who have met the certification standard (passing) from
those who have not (failing). Certification exams are generally constructed to provide the
best precision at the passing point. They are not designed to rank-order testers.
Therefore, rank-ordering scores in a fashion that would suggest the degree to which an
individual failed (or passed) would be an inappropriate use of test results.
The method used to score your exam (a modified Angoff method) is in accordance with
voluntary certification examination standards. Establishing the pass score is based upon
a “criterion-referenced” rather than “norm-referenced” methodology. The norm-refer-
enced methodology, which is common in the academic world, uses a bell curve to
establish the “average” score needed to pass the exam. Whether you pass or fail a
norm-referenced exam depends on your relative standing in comparison to the other
test takers.
In contrast, the criterion-referenced methodology does not rely on a bell curve. Your
performance will not be ranked in comparison to others taking the test. Instead, your
performance is scored against an established level of competency. Also, although every
effort is made to calibrate test difficulty level in advance, there always will be slight
differences in the overall ease or difficulty of one exam as compared with another. So,
before the minimum passing score is set for this exam it will be statistically equated with
past exams. This means that you will not be advantaged if this exam is easier than past
exams, nor will you be disadvantaged if it is more difficult.
If you fail the exam, you will receive feedback on the topics on which your test perform-
ance was below the minimum competency level. Scores, percentages or grades are not
provided on this exam.
Be sure to keep your e-mail address up to date with CFP Board. As soon as exam results are final, you
will be sent an e-mail to visit www.CFP.net/login to view your exam status.
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E X A M I N AT I O N 31
RE-EXAMINATION PROCEDURES
If you fail the CFP ® Certification Examination and elect to retest, you are required to retake the entire
exam. There is no limit on the number of times you may retake the exam. You will have to pay the
current exam fee for each retake.
For security reasons, exam material is not available for review. Neither the staff of Thomson Prometric
nor of CFP Board will discuss specific exam questions. You may submit your comments about exam
questions in writing to:
The Board of Examiners will review comments relating to the exam but will not make written responses
to comments.
If you feel your answer sheet was scored incorrectly, you may request a hand scoring for a $40 fee.
Submit a request to CFP Board by calling 800-487-1497 within 30 calendar days of the release of the
exam results. Requests made after the 30 days will not be honored. In the event there is a discrepancy
between the hand-scored and machine-scored results, hand-scored results will prevail.
Appeals of exam policies are handled by CFP Board’s Board of Examiners, which meets three times a
year. Specific requests for appeals must be made in writing and addressed to the Board of Examiners in
care of CFP Board. Appeals will be reviewed by the Board of Examiners at its regularly scheduled
meetings.
The exam review course providers listed on the next page have met certain criteria established by CFP
Board. CFP Board does not assess the quality, nor does it endorse or recommend any one of the courses
or its materials. Review course providers’ performance ratios are not available from CFP Board.
When seeking review courses or study materials for the CFP ® Certification Examination, consider asking
the following questions of the provider:
• Do key personnel have the backgrounds required to develop and maintain the course? Is
a CFP ® certificant involved in the development and maintenance of the course material?
• How do I sign up, receive materials, ask questions or access faculty? Does the provider
have written complaint policies/procedures?
• Does the provider offer a live review course, and is there one scheduled in my area?
• What is the cost of the course and materials; dates of availability; cost of updates, if any?
• Does the provider possess the organizational and financial resources to carry out its
program on a continuing basis?
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32 E X A M I N AT I O N
For the most up-to-date list of exam review course providers, visit CFP Board’s Web site at
www.CFP.net/become.
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E X A M I N AT I O N 33
The following topics, based on the 1999 Job Analysis Study, are the basis for the CFP ® Certification
Examinations. Each exam question will be linked to one of the following topics, in the approximate per-
centages indicated following the general headings. Questions may be at the evaluation level, which is
the highest cognitive level in Bloom’s taxonomy, or at any lower level. Questions often will be asked in
the context of the financial planning process.
In addition to being used for the CFP ® Certification Examination, this list indicates topic coverage
requirements to fulfill the pre-certification educational requirement, and the topics that will be granted
continuing education credit by CFP Board.
(References to sections (§) in this list refer to sections of the Internal Revenue Code.)
GENERAL PRINCIPLES OF 3. CFP Board’s Financial Planning Practice 10. Client attitudes and behavioral
Standards characteristics
FINANCIAL PLANNING (13%)
A. Purpose and applicability A. Cultural
1. Financial planning process B. Content of each series (use most B. Family
A. Purpose, benefits and components current Practice Standards, as C. Emotional
B. Steps posted on CFP Board’s Web site at
www.CFP.net) D. Life cycle and age
1) Establishing client-planner E. Level of knowledge, experience
relationships C. Enforcing through Disciplinary
Rules and Procedures and expertise
2) Gathering client data and F. Risk tolerance
determining goals and
4. Personal financial statements
expectations 11. Educational funding
A. Balance sheet (statement of
3) Determining the client’s A. Needs analysis
financial position)
financial status by analyzing
and evaluating general B. Cash flow statement B. Tax credits and deductions
financial status, special needs, C. Pro Forma statements C. Qualified state tuition plans
insurance and risk manage- (§529 plans)
ment, investments, taxation, 5. Budgeting D. Education IRAs
employee benefits, retirement, A. Discretionary vs. non-discretionary E. Savings bonds or CDs
and/or estate planning
B. Financing strategies F. Government grants and loans
4) Developing and presenting the
financial plan C. Saving strategies G. Other sources
5) Implementing the financial plan H. Ownership of assets
6. Emergency fund planning
6) Monitoring the financial plan I. Tax ramifications
A. Adequacy of reserves
C. Responsibilities B. Liquidity vs. marketability 12. Financial planning for special
1) Financial planner C. Liquidity substitutes circumstances
2) Client A. Divorce
3) Other advisors 7. Credit and debt management B. Disabilities
A. Ratios C. Terminal illness
2. CFP Board’s Code of Ethics and B. Consumer debt
Professional Responsibility and D. Non-traditional families
C. Home equity loan and home E. Job change and job loss, including
Disciplinary Rules and Procedures
equity line of credit severance packages
A. Code of Ethics and Professional
D. Secured vs. unsecured debt F. Dependents with special needs
Responsibility
E. Bankruptcy
1) Preamble and applicability
F. Consumer protection laws 13. Economic concepts
2) Composition and scope
A. Supply and demand
3) Compliance 8. Buying vs. leasing B. Fiscal policy
4) Terminology A. Calculation C. Monetary policy
5) Principles B. Adjustable and fixed-rate loans D. Economic indicators
a) Principle 1 – Integrity C. Effect on financial statements E. Business cycles
b) Principle 2 – Objectivity
9. Function, purpose and regulation of F. Inflation, deflation and
c) Principle 3 – Competence disinflation
financial institutions
d) Principle 4 – Fairness G. Yield curve
A. Banks
e) Principle 5 – Confidentiality
B. Credit unions 14. Time value of money concepts
f) Principle 6 – Professionalism
C. Brokerage companies and calculations
g) Principle 7 – Diligence
D. Insurance companies A. Present value
6) Rules
E. Mutual fund companies B. Future value
B. Disciplinary Rules and Procedures
F. Other C. Ordinary annuity and annuity due
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34 E X A M I N AT I O N
D. Net Present Value (NPV) INSURANCE PLANNING AND E. Health Maintenance Organization
(HMO)
E. Internal Rate of Return (IRR) RISK MANAGEMENT (10%)
F. Irregular cash flows F. Medicare supplemental insurance
21. Principles of insurance G. Other
G. Inflation adjusted earning rates
A. Definitions and application
H. Serial payments 27. Disability income insurance (individual)
1) Risk
15. Characteristics and consequences of 2) Peril A. Occupational definitions and
types of entities application
3) Hazard
A. Sole proprietorship 1) Total
4) Law of large numbers
B. Partnership 2) Partial
5) Adverse selection
1) General 3) Residual
B. Response to risk
2) Limited B. Benefit period
1) Retain
3) Limited Liability Partnership (LLP) C. Elimination period
2) Transfer
4) Family Limited Partnership (FLP) D. Benefit amount
3) Control
C. Limited Liability Company (LLC) E. Riders
4) Reduce
D. Corporation F. Taxation of benefits
5) Avoid
1) S corporation C. Mortality vs. morbidity 28. Long-term care insurance
2) C corporation (individual and joint)
3) Professional Corporation (PC) 22. Analysis and evaluation of
A. Basic provisions
risk exposures
E. Association B. Eligibility
A. Personal
F. Trust C. Benefit amount and period
1) Death
G. Selection of business form D. Elimination period
2) Disability
H. Acquisition and disposition E. Inflation protection
3) Poor health
F. Nursing home and in-home care
16. Characteristics and consequences of 4) Unemployment
property titling G. Comparing and selecting policies
5) Outliving one’s capital
A. Common law vs. community property H. Tax implications and qualification
B. Property
B. Sole ownership I. Appropriateness of coverage
1) Real
C. Joint tenancy with right of 2) Personal 29. Life insurance
survivorship (JTWROS)
3) Auto A. Fundamentals
D. Tenancy by the entireties
C. Liability B. Types
E. Tenancy in common
1) Negligence C. Contractual provisions
F. Trust ownership
2) Libel D. Dividend options
G. Uniform Transfers to Minors Act
3) Slander E. Non-forfeiture and other options
(UTMA) and Uniform Gifts to
Minors Act (UGMA) 4) Malpractice F. Settlement options
D. Business-related risks G. Policy replacement
17. Financial services industry regulation E. Calculation of benefits
requirements H. Tax issues and strategies
A. Registration and licensing I. Policy ownership issues and
23. Legal aspects of insurance
strategies, including split-dollar
B. Reporting A. Indemnity
C. Compliance B. Insurable interest 30. Viatical settlements
D. State securities and insurance laws C. Contract requirements A. Legal principles
D. Contract characteristics B. Requirements
18. Business Law
C. Tax implications
A. Contracts 24. Property and casualty insurance
D. Planning
B. Torts (individual and business)
E. Ethical concepts and planning
C. Agency A. Real property
D. Negotiable instruments B. Automobile and recreational 31. Insurance needs analysis and
vehicles rationale
E. Professional liability
C. Business A. Life insurance amount required
F. Fiduciary liability
D. Business activity 1) Liquidity and survivor income
G. Arbitration and mediation
E. Personal property needs
19. Quantitative analysis F. Umbrella liability 2) Human life value
A. Probability analysis 3) Capital retention
25. General business liability
B. Modeling and simulation B. Disability insurance
A. Professional liability
C. Sensitivity analysis C. Long-term care insurance
B. Errors and omissions
D. Health insurance
20. Monetary settlement planning C. Directors and officers
E. Property insurance
A. Structured settlements D. Product liability
F. Liability insurance
B. Legal settlements
26. Health insurance (individual)
C. Lottery winnings and monetary 32. Taxation of life, disability and
windfalls A. Hospital-surgical long-term care insurance
D. Lump sum retirement B. Major medical A. Income
distributions C. Traditional indemnity B. Gift
E. Insurance proceeds D. Preferred Provider Organization (PPO) C. Estate
F. Other
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E X A M I N AT I O N 35
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36 E X A M I N AT I O N
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E X A M I N AT I O N 37
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38 E X A M I N AT I O N
Rev. 3/05
E X A M I N AT I O N 39
Rev. 3/05
40 E X A M I N AT I O N
PROVIDED FORMULAS
The following formulas are provided with the exam booklets when taking the CFP ® Certification
Examination:
Rev. 3/05
EXPERIENCE 41
Work Experience
Because the CFP ® certification indicates to the public your ability to provide financial planning unsuper-
vised, CFP Board requires you to have some experience in the personal financial planning process.
However, CFP Board recognizes the variety of situations and circumstances in which people participate
in the financial planning process and has developed a work experience requirement to account for this.
If you have questions about your work experience being accepted by CFP Board, contact CFP Board’s
registrar at:
CFP Board’s work experience requirement is defined as “the supervision1, direct support2, teaching3 or
personal delivery of all or part of the personal financial planning process to a client4.”Qualifying experi-
ence must fit within one or more of the six primary elements of the personal financial planning process
described as follows:
This includes explaining the issues and concepts related to the personal financial plan-
ning process. You must specify the services you or your firm will provide and clarify the
client’s and your responsibilities.
Data gathering includes interviewing or questioning the client about various aspects of
his or her financial resources, obligations and expectations. During this process, you will
need to determine your client’s goals, needs and priorities; assess your client’s values
and attitudes; and determine the client’s time horizons and risk tolerance. In addition,
you will collect applicable client records and documents.
This process involves analyzing and evaluating client data such as current cash flow
needs, risk management, investments, taxes, retirement, employee benefits, estate plan-
ning and/or special needs.
All levels of supervision are acceptable if the chain of supervision eventually leads back to the planner.
1
2
Must be directly responsible for information that is provided to the planner/client and have reasonable accountability for
the client.
3
Credit for teaching is limited to the instruction of CFP Board’s financial planning topic list in a CFP Board-Registered
Program. Teaching finance-related classes (for college credit) full-time at a university that does not have a CFP Board-
Registered Program can be used to satisfy up to two years of experience credit, but the third year of experience must be
personal financial planning experience or teaching full-time at a CFP Board-Registered Program.
4
“Client” denotes a person who engages a practitioner and for whom professional services are rendered. Pro-bono
experience is accepted as long as (1) there is a client and (2) you are acting as a financial planning professional who is capa-
ble and qualified to offer objective, integrated and comprehensive financial advice to, or for the benefit of, individuals to
help them achieve their financial objectives using the financial planning process.
Rev. 3/05
42 EXPERIENCE
Financial planning recommendations should meet the goals and objectives of the client,
and reflect his or her values, situation and risk tolerance. This process includes present-
ing and reviewing the recommendations with the client, working with the client to
ensure that the plan meets his or her goals and expectations, and revising the recom-
mendations as necessary.
This is the process of helping the client put the financial planning recommendations
into action. This could include coordinating with other professionals, such as account-
ants, attorneys, real estate agents, investment advisers, stock brokers and insurance
agents.
• Three years full-time, or the equivalent part-time (2,000 hours part-time equals one year
full-time), if you have an undergraduate degree from an accredited U.S. college or
university.*
• Five years full-time, or the equivalent part-time, if you do not have an undergraduate
degree from an accredited U.S. college or university. Note: Beginning in 2007, a bache-
lor’s degree will be required before completing the certification process. Individuals
without a college degree and no qualifying experience would have needed to have
started gaining financial planning experience before 2002 in order to meet the five-
year experience requirement for those without a degree. All individuals who have not
completed the five-year experience requirement by December 31, 2006, will be required
to have a college degree.
• Six months of experience must have been gained within 12 months of submitting the
Résumé Form. (See page 43, “Verification of Experience,” for information on the
Résumé Form.)
• Experience may be gained up to 10 years before or up to five years after the exam date.
If your work experience is not completed within this time frame, your candidacy for
CFP ® certification may be terminated. A one-time, two-year extension may be granted
on a case-by-case basis. Requests for an extension should be sent to CFP Board’s regis-
trar at the address on page 41.
If you do not complete the CFP certification process within 12 months of passing the CFP ® Certification
Examination, you must begin to accrue continuing education credits at a rate of 15 credits per year.
International degrees may be substituted for a U.S. undergraduate degree if they receive equivalency from a third-party
*
organization such as Worldwide Educational Services (WES). WES can be reached at 800-937-3895 or www.WES.org.
Rev. 3/05
EXPERIENCE 43
INTERNSHIPS/RESIDENCY PROGRAMS
Financial planning-related internships completed at a CFP Board-Registered Program are eligible for
credit toward the work experience requirement at the rate of one month of work experience for each
college credit. Residency programs completed through the Financial Planning Association (FPA) are
eligible for credit toward the work experience requirement at the rate of three months of work
experience credit per residency program. Credit will be granted for internships and/or residency
programs completed within 10 years before and five years after the successful completion of the
CFP ® Certification Examination.
VERIFICATION OF EXPERIENCE
Once you pass the CFP ® Certification Examination, you will receive a Résumé Form on which to summa-
rize your related work experience. The form must be signed by your current supervisor. If you are
self-employed, the following individuals can attest to your experience:
• CFP ® certificants
• Licensed Certified Public Accountants (CPAs)
• Licensed attorneys
After the form is returned to CFP Board, the information listed is subject to random audit. Erroneous
information could jeopardize your authorization to use the CFP marks.
While the CFP certification requirements may be changed from time to time, you will be expected to
meet the requirements that are in place at the time of your most recent application for the CFP ®
Certification Examination. Therefore, CFP Board cannot confirm the suitability of your work experience
before you pass the exam.
Rev. 3/05
44 EXPERIENCE
A No. Concurrent part- and full-time financial planning employment will not accelerate completion of
the requirement.
Q 3. IF I WORK MORE THAN 2,000 HOURS PER YEAR, CAN I ACCELERATE THE
COMPLETION OF THE REQUIREMENT?
A No. Additional credit for full-time employment will not be granted for hours in excess of 40 hours
per week.
Q 5. WHAT IF I DO NOT HAVE ANY RELEVANT EXPERIENCE? CAN I STILL SIT FOR THE
CFP ® CERTIFICATION EXAMINATION?
A Yes. The experience requirement does not have to be satisfied prior to the exam. Individuals have
up to five years from the time they pass the exam to complete the experience requirement if neces-
sary.
A Qualifying experience may be earned through many different types of practices and firms.
Candidates for CFP ® certification often choose to establish a private practice, either by themselves
or in conjunction with other planners. Some planners work for banks, credit unions, insurance com-
panies, accounting or law firms, credit counseling organizations and brokerage firms. Or, they may
choose a career in academia, teaching personal financial planning to other interested students.
Q 7. WHAT CAN I CALL MYSELF ONCE I HAVE PASSED THE CFP CERTIFICATION ®
A Only those individuals who have fully satisfied CFP Board’s requirements are authorized to use the
CFP certification marks. Until that time, you can only use the CFP marks to refer to the certification
process. For example, you may say that you are a “candidate for CFP ® certification” or “working
toward obtaining CFP ® certification.” Use of the term “CFP ® candidate” is an improper use of the
mark and is prohibited.
Rev. 3/05
ETHICS 45
Ethics
The final component of the initial CFP ® certification process is the ethics requirement. CFP certification
requires you to agree to adhere to CFP Board’s Code of Ethics and Professional Responsibility and
Financial Planning Practice Standards, and to acknowledge CFP Board’s right to enforce them through
its Disciplinary Rules and Procedures. By signing the CFP® Certification Application, individuals agree to
be bound by CFP Board’s Code of Ethics and Practice Standards. This demonstrates to the public that
you have agreed to provide personal financial planning in the client’s best interest and to act in accor-
dance with the highest ethical and professional standards for the practice of financial planning.
Before being authorized to use the CFP certification marks, and each time you renew your certification,
you must disclose whether you have ever been involved in any criminal, civil, self-regulatory organiza-
tion or governmental agency inquiry, investigation or proceeding. You must also acknowledge the right
of CFP Board to enforce its Code of Ethics and Practice Standards through its Disciplinary Rules and
Procedures.
Please be aware that, if you disclose matters on your CFP® Certification Application, or if CFP Board dis-
covers that you have been involved in matters that may give rise to a violation of the Code of Ethics or
Practice Standards, your certification may be delayed pending CFP Board’s review of the matters.
Additionally, if the matters involve serious misconduct, CFP Board reserves the right to permanently
deny you the right to obtain the CFP certification. All such ethics reviews will be conducted in accor-
dance with CFP Board’s Disciplinary Rules and Procedures. Note: For individuals who do not plan to
obtain a bachelor’s degree, please see page 7 for more details about how the 2007 bachelor’s degree
requirement affects the fulfillment of the ethics component.
VERIFICATION OF DATA
CFP Board may verify your employment record, qualifications and disciplinary history through the
NASD ®’s Central Registration Depository (CRD). All disciplinary information obtained will be reviewed by
CFP Board. The length of the review process varies depending on the circumstances being investigated,
and may take anywhere from several weeks to one year. In general, you will not be authorized to use
the CFP marks during CFP Board’s review process.
If you have questions about the effect of any of your past or pending disciplinary actions, or your
authorization to use the CFP marks, contact CFP Board at 800-487-1497 or initialcert@CFP-Board.org.
Because of changing codes or regulations and the fact that every situation contains unique variables,
CFP Board cannot provide you with an advance judgment of your situation. However, historical case
studies of disciplinary actions taken by CFP Board against those it has certified are available from CFP
Board.
Rev. 3/05
46 ETHICS
tected by trademark law. Only those individuals who have fully satisfied CFP Board’s requirements are
authorized to use the CFP certification marks. CFP Board carefully monitors all usage of the marks to
ensure their integrity and unauthorized use of the marks is viewed as a serious matter. For example, it
is incorrect to use the term “CFP ® candidate.” Up until the point of achieving CFP certification, individu-
als who have applied for the CFP ® Certification Examination can say they are “working towards
obtaining CFP ® certification” or that they are a “candidate for CFP ® certification.” Remember, if you use
the CFP marks prematurely, or in some other prohibited manner, you could jeopardize your ultimate
right to use them.
DECLARATION PACKET
When you have completed the education, examination and work experience requirements, you will
receive a declaration packet from CFP Board. This packet includes a CFP® Certification Application
which includes a notice of your initial certification and application fees. The completed form and fees
must be returned to CFP Board within six months of issue. The fees must be paid and the application
completed, signed and reviewed by CFP Board before any certification can be issued. Note: For individu-
als who do not plan to obtain a bachelor’s degree, please see page 7 for more details about how the
2007 bachelor’s degree requirement affects the final stages of the CFP certification process.
An initial certification cycle will be defined for each individual after completing the education,
examination and work experience requirements. CFP Board establishes this initial certification cycle
using the date of initial CFP certification to the end of your birth month in an odd or even year, based
on your birth date. The initial certification fee and the amount of CE credits due at the end of this
initial cycle will be prorated based on $360 and 30 hours, respectively, every two years. An application
fee of $100 and this initial certification fee (ranging from $90-$450) are invoiced in the declaration
packet.
After this prorated cycle is completed, you will begin reporting CE and completing the renewal require-
ments on a cyclical two-year renewal cycle. (See the “Certification Renewal” section on page 5.)
INTERNATIONAL RECIPROCITY
If you are a resident of one of the countries represented on the International Council and
are currently authorized to use the CFP marks in that country, you can apply for CFP ® cer-
tification in the United States by (1) providing proof of current certification status in your
country, (2) passing the first four-hour session of CFP Board’s CFP ® Certification
Examination, (3) fulfilling the work experience requirement, (4) agreeing to abide by CFP
Board’s Code of Ethics and Professional Responsibility and Financial Planning Practice
Standards, and (5) paying the appropriate fees.
Once CFP Board grants you the right to use the CFP marks in the U.S., you will be subject
to U.S. renewal requirements.
Once certified, check www.CFP.net/search to find your name listed. CE reporting deadlines and other
renewal information is available by logging into the Web site at www.CFP.net/login.
Rev. 3/05
ETHICS 47
If you are authorized to use the CFP marks by one of the countries represented on the
International Council, but have not applied for CFP ® certification in the U.S., you can use
the CFP marks in the U.S. provided you fully disclose the country in which you are certi-
fied. The following examples show how you might disclose the necessary information on
any material that displays the CFP marks:
If you intend to practice financial planning outside of the U.S. in any country where you
have no certification or limited certification from the local International Council affiliate,
you must (1) notify CFP Board of your intention to move to or practice in a new country,
(2) remain current in all CFP Board certification obligations, including CE, (3) become
familiar with and comply with all laws regulating the practice of financial planning in the
new country, (4) provide all clients with a standardized disclosure form that outlines
potential knowledge deficiencies in the new country (aspects related to local laws and cir-
cumstances not covered by CFP Board’s topic list or exam content), (5) provide all clients
with contact details of CFP Board and the local CFP Board affiliate if there is one in the
country, (6) prominently indicate on all printed materials that you are certified in the U.S.
only, and (7) only give financial planning advice to nationals of the U.S., or to the nation-
als of new country on matters relating to the U.S. Your U.S. CFP certification only certifies
that you have met competency and ethical requirements to provide comprehensive finan-
cial planning advice in the U.S.
GRIEVANCE POLICY
All grievances related to CFP ® certification, with the exception of exam grievances which are handled by
CFP Board’s Board of Examiners (see page 31), should be sent to CFP Board’s Grievance Committee at
the address below. CFP Board’s grievance process is a staff-administered process chaired by the chief
executive officer.
Rev. 3/05
48 T R A N S C R I P T R E V I E W A P P L I C AT I O N I N S T R U C T I O N S
1. Complete the application for transcript review found on the following page. List your
courses on the first page of the form. Then, using the course number, indicate courses
on the checklist that correspond to a specific content area. One course may cover sev-
eral content areas. If you have already completed the educational requirement, you do
not need to fill out this form to apply for the exam.
2. Attach course descriptions from the catalog or the course syllabus if the title does not
clearly identify course content.
3. Attach your transcript to the application form (photocopies are acceptable). The tran-
script must accompany the application, or the application will be deemed incomplete
and will not be reviewed. Incomplete applications will be returned.
4. Mail the application and completed checklist, transcript and other supporting documenta-
tion, and a $100 non-refundable transcript review fee (MasterCard, American Express or
Visa payments accepted) to the following address:
Transcript Review
CFP Board
1670 Broadway, Suite 600
Denver, CO 80202-4809
APPLICATION REVIEW
Your transcript review application will be processed within 30 working days of its receipt by CFP Board.
If CFP Board determines that you have fulfilled the educational requirement, you will be sent written
notification. You will also be sent an application for the CFP ® Certification Examination. If your application
is received fewer than 30 working days before an exam application deadline, you will have to sit for a
later exam.
If CFP Board determines that you have not fulfilled the education component, you will be sent written
notice of your areas of deficiency. You may complete deficient topics at a CFP Board-Registered
Program. Please be aware that each college or university has the right to impose its own transfer of
credit policy.
After you have addressed any topic deficiencies at a CFP Board-Registered Program:
1. Complete the CFP ® Certification Examination application.
2. Attach a copy of the letter from CFP Board noting the topics in which you were
deficient.
3. Attach a transcript from the CFP Board-Registered Program or a signed note from the
Program Director verifying that you have completed the needed topics.
4. Submit the application and documentation to CFP Board.
If you complete the missing topics at a U.S. accredited college or university that does not have a CFP
Board-Registered Program, submit a new transcript review application, along with a review fee of $100.
Include the letter you received from CFP Board noting the missing topics and the new transcript show-
ing that you have addressed the deficiencies. There is no guarantee that the new courses will meet the
topic coverage. CFP Board will not pre-determine the status of any course.
Rev. 3/05
1670 Broadway, Suite 600, Denver, Colorado 80202-4809
P: 800-487-1497 F: 303-860-7388 (no cover please)
E: mail@CFP-Board.org W: www.CFP.net
Financial planning-related courses from the transcripts to be considered. Courses to be considered for transcript review must be at the upper-
division college level or higher (typically course numbers 300 or greater):
Course title Course number Dates Credit hours
SECTION V: Transcript Review Fee - $100 (a $25 service fee will apply to all returned checks)
{ Check (make check payable to CFP Board, do not staple check to application) Amount enclosed: ___________ Check number:____________
{ Credit Card (check only one) { MasterCard { Visa { American Express Credit card #: _________________________________________
Name (as it appears on credit card): ___________________________________________ Expiration date: __________________________
I hereby affirm that I am over the age of eighteen and I authorize the investigation of all statements made by me to CFP Board including, but not limited to, those statements contained in this form. I understand that
misrepresentation or omission of facts is cause for denial or revocation of the right to use the CFP®, CERTIFIED FINANCIAL PLANNER™ and certification marks, and that I may not use the marks until I receive official
notification of my certification by CFP Board. CFP Board may obtain my educational records in order to verify the truthfulness and accuracy of my educational background and I hereby expressly authorize educational
institutions (and authorized agents of such institutions) to release my educational records to CFP Board. I understand that educational records will include, without limitation, any record, file, document or other
material which contains information directly related to me, which is maintained by the educational agency or institution or by a person acting for such agency or institution. To the extent any of the following
information is not considered to be an educational record I further authorize educational institutions to release: my last name, the last four digits of my Social Security number and the date of my degree completion.
In consideration for CFP Board’s acceptance of this application I agree that neither CFP Board nor its directors, officers, employees and others acting on its behalf shall be liable to me for any actions taken or omitted
to be taken in any official capacity or in the scope of employment, and I hereby release CFP Board and the other persons identified above from any liability for such actions or omissions.
Rev. 3/05
Using the course number from your transcripts, indicate which topics have been covered by placing the course number next to the
corresponding topic you believe was covered in that course. Refer to CFP Board’s complete Financial Planning Topic List for more details.
Rev. 3/05
E X A M A P P L I C AT I O N I N S T R U C T I O N S 51
Rev. 3/05
52 E X A M A P P L I C AT I O N I N S T R U C T I O N S
*Applications must be received by 5:00 p.m. Mountain time on the listed date.
AK50 Anchorage, AK DC50 Wash. DC area LA50 New Orleans, LA NJ51 Princeton, NJ TN51 Memphis, TN
AL50 Birmingham, AL FL50 Ft. Lauderdale, FL MA50 Boston, MA NY50 New York, NY TX50 Houston, TX
AZ50 Phoenix, AZ FL51 Tampa, FL MD50 Baltimore, MD NY51 Buffalo, NY TX51 Dallas, TX
CA50 Oakland, CA FL52 Jacksonville, FL MI50 Detroit, MI NY52 Albany, NY TX52 San Antonio, TX
CA51 Irvine, CA FL53 Orlando, FL MN50 Minn/St. Paul, MN NY53 Long Island, NY UT50 Salt Lake City, UT
CA52 San Diego, CA GA50 Atlanta, GA MO50 St. Louis, MO OH50 Cincinnati, OH VA50 Richmond, VA
CA53 Los Angeles area, HI50 Honolulu, HI MO51 Kansas City, MO OH51 Cleveland, OH WA50 Seattle, WA
CA IL50 Chicago Heights, NC50 Charlotte, NC OR50 Portland, OR WI50 Milwaukee, WI
CA54 San Jose area, CA IL NC51 Raleigh, NC PA50 Philadelphia, PA _______________________
CO50 Denver, CO IL51 Lisle area, IL NH50 Manchester, NH PA51 Pittsburgh, PA International (city, country)
CT50 New Haven, CT IN50 Indianapolis, IN NJ50 Clark, NJ TN50 Nashville, TN
WITHDRAWAL PROCEDURES:
If you are unable to take the exam once you have registered, you may, in accordance with the deadlines listed below, choose one
of the following options:
1. Withdraw from the exam by notifying CFP Board, pay a $50 rescheduling fee and register to take the exam at a later date.
2. Withdraw from the exam by notifying CFP Board and request a refund of the refundable portion of your exam fee.
3. Withdraw from the exam by notifying CFP Board and maintain a credit (exam fee minus $50) with CFP Board. You may
re-register to take the exam or obtain a refund of the refundable portion of your exam fee from any time after the with-
drawal until 24 months from the date of the exam for which you last registered. However, if you fail to re-register for an
exam or obtain a refund within this 24-month period, the entire exam fee will be forfeited.
The refundable portion of your exam fee is the amount of the exam fee, less a $50 cancellation fee.
PRIVACY POLICY:
In certain instances, CFP Board may release lists of applicants for the CFP® Certification Examination to Review Course providers who
agree to CFP Board’s usage requirements. Upon request, CFP Board will not release an individual’s name to this outside party.
Rev. 3/05
1670 Broadway, Suite 600, Denver, Colorado 80202-4809
P: 800-487-1497 F: 303-860-7388 (no cover please)
E: mail@CFP-Board.org W: www.CFP.net
{ CFP BOARD-REGISTERED PROGRAM: I successfully completed a CFP Board-Registered Program. A copy of the qualifying transcript, diploma, score
reports or letter is attached.
_________________________________________________________________ _________________________________ _____________________
Name of school Program name Date completed
{ CHALLENGE STATUS: I am challenging the CFP® Certification Examination because I hold one of the following designations. A copy of qualifying
transcript is attached.
{ CFA® { ChFC { CLU { Ph.D.-business/economics/D.B.A.
{ Licensed CPA* ______________________ _________________ { Licensed attorney* ______________________ _________________
State license number State licensed in State license number State licensed in
*Inactive licenses will be accepted with a letter of good standing.
{ CEBS plus additional required courses: PFP-1 and PFP-2. A photocopy of the designation and transcript, score report or letter is attached.
{ TRANSCRIPT REVIEW: I have completed CFP Board’s transcript review process. CFP Board letter of authorization is attached.
{ INTERNATIONAL RECIPROCITY: I currently hold CFP certification from an international affiliate organization. A copy is attached.
_________________________ _________________________
International affiliate country Certification no.
SECTION III: CFP® Certification Examination Date (check only one)
Applications must be received by 5 p.m. Mountain time.
Exam Date Application Deadline Withdrawal Deadline
{ July 15-16, 2005 June 1, 2005 June 7, 2005
{ November 18-19, 2005 October 5, 2005 October 11, 2005
{ March 17-18, 2006 February 1, 2006 February 7, 2006
SECTION IV: CFP® Certification Examination Site (see instructions for four-character exam site code)
Exam site code: ___________________________________ City, state: ______________________________________________________________________
Request for special arrangements:
{ I cannot take an exam on the specified dates for religious reasons; a letter from my religious leader is attached.
{ I will need special arrangements for a physical disability described in the attached letter from my physician.
SECTION V: CFP® Certification Examination Fee - $595 (a $25 service fee will apply to all returned checks)
{ Check (make check payable to CFP Board, do not staple check to application) Amount enclosed: _______________ Check number: ____________________
{ Credit Card (check only one) { MasterCard { Visa { American Express Credit card #: _______________________________________________________
Name (as it appears on credit card): _________________________________________________________ Expiration date: __________________________
I hereby affirm that I am over the age of eighteen and I authorize the investigation of all statements made by me to CFP Board including, but not limited to, those statements contained in this form. I understand that
misrepresentation or omission of facts is cause for denial or revocation of the right to use the CFP®, CERTIFIED FINANCIAL PLANNER™ and certification marks, and that I may not use the marks until I receive official
notification of my certification by CFP Board. CFP Board may obtain my educational records in order to verify the truthfulness and accuracy of my educational background and I hereby expressly authorize educational
institutions (and authorized agents of such institutions) to release my educational records to CFP Board. I understand that educational records will include, without limitation, any record, file, document or other
material which contains information directly related to me, which is maintained by the educational agency or institution or by a person acting for such agency or institution. To the extent any of the following
information is not considered to be an educational record I further authorize educational institutions to release: my last name, the last four digits of my Social Security number and the date of my degree completion.
In consideration for CFP Board’s acceptance of this application I agree that neither CFP Board nor its directors, officers, employees and others acting on its behalf shall be liable to me for any actions taken or omitted
to be taken in any official capacity or in the scope of employment, and I hereby release CFP Board and the other persons identified above from any liability for such actions or omissions.
Rev. 3/05
C ERTIFIED F INANCIAL PLANNER
B OARD OF S TANDARDS, I NC.