CFP - Certified Financial Planner Exam Study Guide
The Certified Financial Planner (CFP) Exam, managed by the Board of Certified Financial Planners, ensures that candidates are well versed in current tax laws and regulations. The exam tests the candidates knowledge of the current tax year tax laws, including the latest legislation, and is the second step in the process of receiving Certified Financial Planner status.
The exam uses a series of case studies to assess the candidates ability to apply theory to situations. It makes sure that the candidate is knowledgeable enough to enter professional practice.
Certified Financial Planner Exam Structure
The CFP exam is structured into two different types of multiple choice questions. With the first type, a brief scenario is provided, succeeded by one to six questions worth two points each. These questions ensure that the candidate has a good knowledge of the theory underpinning financial planning.
With the second type, a detailed case study or real-life scenario is given, and is succeeded by ten to twenty questions. These questions gauge the ability of the candidate to apply their theoretical knowledge to the real world. The exam usually contains three such case studies and due to the increased complexity, these questions are worth three marks each.
The exam tests ability in a number of fields:
- General Principles of Financial Planning
- Insurance Planning and Risk Management
- Employee Benefits Planning
- Income Tax Planning
- Investment Planning
- Retirement Planning
- Estate Planning The CFP exam simply lets the Board know whether the student is ready to move into professional practice or not. It is a simple pass or fail exam, and does not grade or compare the ability of students.
CFP Certified Financial Planner Exam Study Guide
The CFP exam thoroughly tests a candidates ability in financial planning, ensuring that they are suitable for professional practice. A Certified Financial Planner Exam study guide is worth the investment due to the stringency of this exam. It will help provide the best possible chance of success by preparing you for that big day. Needless to say, the cost involved is nearly at $600.
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How to Prepare for Multiple Choice Questions
Tips and tricks that can help you prepare for multiple choice questions and increase your mark. Prepared by professionals these tricks help you excel in Certified Financial Planner multiple choice exam.
