CFP® EXAM
CANDIDATE
HANDBOOK
JULY 2024
QUICK REFERENCE GUIDE
CFP® EXAMINATION TESTING WINDOWS
March | July | November
MARCH 2024 CFP® EXAMINATION TESTING WINDOWS
Testing Window: July 9-16, 2024
(Education Verification Deadline: June 18, 2024)
EXAM REGISTRATION DEADLINES AND FEES
The registration period for each exam administration
is about four months, and is broken into three phases:
Early Registration, Standard Registration, and Late
Registration. Candidates are encouraged to register as
early as possible to benefit from the Early Registration
price and for the best date and testing site availability.
Opens Closes Fee
Early February 14, 2024 May 14, 2024 $825
Standard May 15, 2024 June 18, 2024 $925
Late June 19, 2024 June 25, 2024 $1,025
REGISTER FOR THE EXAM
Register online at CFP.net/exam
Your exam registration includes FREE access to the
CFP Board Practice Exam, with the option to purchase
a second Practice Exam.
CFP® EXAM PRICING AND REGISTRATION TIMELINE
4 months
before
registration
deadline
6 weeks
before
registration
deadline
1 week
before
registration
deadline
2 weeks after
registration
deadline
$825 $925 $1,025
Early
registration
begins
Standard
registration
begins
Education
Verification
deadline
Late
registration
begins
Final
registration
deadline
Prometric
scheduling
deadline
Exam
window
opens
Exam
window
closes
CONTACT INFORMATION
PROMETRIC TEST CENTERS
Contact Prometric with questions about the
schedule or the test center for an upcoming
examination.
Prometric Phone: 888-226-9336
Site Closures: prometric.com/closures
CFP BOARD
Contact CFP Board with questions about
exam and certification requirements.
800-487-1497 (Toll-Free) or 202-379-2200
mail@cfpboard.org
1425 K Street NW #800
Washington, DC 20005
Fax: 202-379-2299
To report exam misconduct dial the Exam Integrity
Tip Line: 855-392-6847
MEDICAL OR OTHER EMERGENCIES
No Shows: If you fail to appear for the exam and do not
provide documentation of medical or other emergency
afterwards, you will forfeit the entire exam fee.
Waiver Requests: In case of a medical or other
emergency, CFP Board will consider waiving the
forfeiture of the exam fee. The request must be in
writing and supported by verifying documentation
from a third party. Requests must be received within
10 business days of the close of the exam window.
Inclement Weather/Test Site Emergency:
Unforeseen circumstances may require a test center
to unexpectedly close. Should this happen, Prometric
will make every eort to contact you so that you
don’t travel to the center. Ensure that the contact
information you provide during the scheduling and
registration process is accurate. You will be contacted
by the Prometric scheduling department within 48-72
hours to reschedule your appointment.
TABLE OF CONTENTS
QUICK REFERENCE GUIDE (PREVIOUS PAGE)
MESSAGE FROM CFP BOARD’S MANAGING DIRECTOR OF PROFESSIONAL PRACTICE
............................... 4
OVERVIEW
................................................................................................... 5
CFP® Certification Examination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
Exam Content and Development
.....................................................................................5
Sample Exam Questions & Practice Exams
........................................................................... 6
ELIGIBILITY
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
REGISTRATION & SCHEDULING
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Registration Process Overview
...................................................................................... 8
Scheduling Your Testing Appointment with Prometric
................................................................. 8
Education Verification, Postponement, and Withdrawal Requests
....................................................... 9
Rescheduling Confirmed Appointments Within the Exam Window. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10
Testing Accommodations
...........................................................................................10
EXAM PREPARATION
..........................................................................................11
Understand the Exam
.............................................................................................. 11
Develop a Plan for Study. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Practice Exam Taking
...............................................................................................12
Taking a Review Course. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Find Support
......................................................................................................12
Plan Your Exam Day . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
EXAM DAY
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
What to Bring to the Exam. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
Check-in Process
...................................................................................................14
CFP Board Non-Disclosure Agreement
...............................................................................15
Taking the Exam (Exam Procedures) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Break Times
.......................................................................................................15
Finishing the Exam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
After Completing the Exam
.........................................................................................15
Remote Proctored Exam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16
Check-in Process
...................................................................................................17
AFTER THE EXAM
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18
Exam Results
......................................................................................................18
Retake Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Exam Day Issues
...................................................................................................18
Reporting Experience
..............................................................................................19
APPENDICES
................................................................................................20
Appendix A: Principal Knowledge Topics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Appendix B: Testing Center Regulations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Appendix C: Calculator Policy
...................................................................................... 23
Appendix D: Provided Formulas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Appendix E: Provided Tax Tables
................................................................................... 25
Appendix F: Policy Exceptions & Appeals
........................................................................... 26
MENTOR PROGRAM
.......................................................................................... 27
Mentee Success Kit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
4
MESSAGE FROM CFP BOARD’S MANAGING
DIRECTOR OF PROFESSIONAL PRACTICE
Congratulations on your decision to pursue CFP® certification. The education,
examination, experience, and ethics requirements to become a CFP® professional
are rigorous but achievable, and well worth the eort. This Exam Handbook will
guide you through the process of registering for, taking, and understanding the
results of the CFP® Certification Examination (CFP® exam).
The CFP® exam is an important milestone on your path to CFP® certification.
The exam is comprehensive in scope and designed to assess your ability to
integrate and apply a broad base of financial planning knowledge in the context
of real life financial planning situations. All facets of the CFP® exam are guided
by CFP® professionals, including the determination of content coverage, writing,
reviewing and approving of exam questions, as well as the scoring and passing
criteria. By passing this exam, you demonstrate to the public that you have attained
a competency level necessary to practice independently as a financial planner.
If you have questions along the way, we are here to help. Please feel free to contact
our dedicated Stakeholder Services team at 800-487-1497 or our Exams sta at
examinations@cfpboard.org.
All of us at CFP Board wish you the best as you prepare to take the CFP® exam and
continue on your path toward a rewarding career as a CFP® professional.
Best Regards,
John Loper, CFP®
Managing Director
Professional Practice
“
BY PASSING THE
CFP® EXAM, YOU
DEMONSTRATE TO
THE PUBLIC YOU
HAVE ATTAINED
A COMPETENCY
LEVEL NECESSARY
TO PRACTICE
INDEPENDENTLY
AS A FINANCIAL
PLANNER.
”
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the
certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States to Certified Financial Planner
Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and
ongoing certification requirements to use the certification marks.
5
OVERVIEW
The CFP® Exam is designed to assess your ability to integrate and apply a broad
base of financial planning knowledge in the context of real life financial planning
situations.
To sit for the exam, you must have completed a financial planning curriculum
at a CFP Board Registered Program, or satisfied CFP Board’s education coursework
requirement through the Accelerated Path or Transcript Review options.
The CFP® exam is administered during three 8-day testing windows each year, with
one testing window available each March, July and November. Candidates select
their test day and testing location from a network of more than 265 testing sites in
the U.S. provided by Prometric, CFP Board’s testing administration partner. Each
testing appointment is 7 hours, to accommodate 6 hours of testing time as well as
time for check-in and security procedures and a lunch break (find additional details
in the “Exam Day” section of this handbook).
CFP® CERTIFICATION EXAMINATION
• 170 multiple-choice questions
• Two 3-hour sections, each divided into two subsections
The CFP® exam consists of 170 multiple-choice questions, delivered in a computer-
based format, over the course of two 3-hour sections with midsection breaks, to
enhance the security of the CFP® exam and provide a consistent experience for
candidates taking the exam at test centers and those taking the exam remotely.
Each section of the exam will be divided into two distinct subsections, and
an optional unscheduled break may be taken between those subsections.
Candidates can move between questions within each subsection. However, once
the next subsection begins, candidates will not be allowed to access the previous
subsections of the exam.
The CFP® exam is a pass/fail exam. Results are verified by CFP Board within four
weeks following the end of the exam testing window, and ocial exam results are
delivered to candidates by secure email.
EXAM CONTENT AND DEVELOPMENT
The CFP® exam measures your critical thinking and problem-solving ability, with less
emphasis on factual recall or recognition. The exam does not test textbook theories;
rather, it assesses your ability to apply financial planning knowledge in an integrated
approach to real-life financial planning situations. To develop exams that reflect the
current practice of financial planning, CFP Board conducts regular Practice Analysis
studies to identify the important tasks performed by planners and assess the
knowledge and skills needed to perform these tasks.
Based on the outcomes of the Practice Analysis, exam questions are written by
volunteer CFP® professionals, with oversight provided by testing experts. The exam
questions are subjected to a rigorous, multiple stage review process, including a
final review by CFP Board’s Council on Examinations.
The content of the CFP® exam is based on CFP Board’s Principal Knowledge
Domains (refer to Appendix A for a complete list). The March 2022 CFP® exam
and later exams are based on the 2021 Practice Analysis, available at
CFP.net/2021-Practice-Analysis.
“
THE CFP® EXAM IS
A COMPUTER-BASED
EXAM CONSISTING OF
170 MULTIPLE-CHOICE
QUESTIONS OVER THE
COURSE OF TWO
3-HOUR SECTIONS,
EACH DIVIDED INTO
TWO SUBSECTIONS.
”
6
Each of the 170 exam questions is linked to at least one of the following Principal
Knowledge Domains, in the approximate percentages indicated following the
general headings.
A. Professional Conduct and Regulation (8%)
B. General Principles of Financial Planning (15%)
C. Risk Management and Insurance Planning (11%)
D. Investment Planning (17%)
E Tax Planning (14%)
F. Retirement Savings and Income Planning (18%)
G. Estate Planning (10%)
H. Psychology of Financial Planning (7%)
PRACTICE EXAMS
CFP Board also oers two Practice Exams to help candidates study for the CFP®
exam. The Practice Exams are full-length, featuring 170 questions and provide
instant feedback on your performance relative to the Principal Knowledge Domains.
One Practice Exam is included FREE with registration for the CFP® exam. Once
registered for the exam, candidates can access the Practice Exam online through
their CFP Board account. The Practice Exam is a great way for candidates to
familiarize themselves with the exam software and benchmark their progress as
they study for the exam.
Learn more about the CFP Board Practice Exams at: CFP.net/PracticeExams
7
ELIGIBILITY
You may register for the exam before completing CFP Board’s education
coursework requirement; however, you may not sit for the exam until
CFP Board has verified your completion of the coursework requirement.
The coursework requirement can be met in several ways, including:
1. Completing a CFP Board Registered Program (see CFP.net/programs)
2. Completing equivalent coursework subject to CFP Board’s Transcript
Review process (see CFP.net/TranscriptReview)
3. Holding certain professional designations, credentials or academic
degrees pre-approved by CFP Board. These can qualify candidates
to accelerate their path to certification by bypassing the majority of
the education coursework requirement to sit for the CFP® exam upon
completion of the Capstone course or the Capstone Alternative (see
CFP.net/AcceleratedPath)
CFP Board Registered Programs provide education verification directly to
CFP Board. Transcript Review and the Accelerated Path options require
you to arrange for specific documentation to be provided to CFP Board
for review.
Verification of your coursework requirement completion must be
received at CFP Board by the Education Verification Deadline for
your selected exam administration. If verification is not received by
the deadline, your exam registration will be postponed, and a $500
postponement fee will be applied. If you have already postponed your
registration, your registration will be withdrawn and you will receive a
$200 refund.
IMPORTANT NOTE
ON EDUCATION
VERIFICATION:
You can register for the CFP®
exam prior to completing CFP
Board’s education coursework
requirement. However, CFP
Board must receive verification
of your completed coursework
requirement by the verification
deadline. If verification is not
received by the deadline,
your exam registration will be
withdrawn.
7
8
REGISTRATION & SCHEDULING
To sit for the CFP® exam, you must complete CFP Board’s exam
registration form, submit payment of the exam registration fee, and then
schedule your testing appointment with CFP Board’s testing administrator,
Prometric.
Testing appointments are scheduled on a first-come, first-serve basis.
We encourage you to register for the exam 60 days or more in advance
for the best date and site availability.
REGISTRATION PROCESS OVERVIEW
1. Create a CFP Board online account at CFP.net/account
If you have previously registered for the exam or have already created
your online account, you may simply log into your secure CFP Board
account to start the registration process.
2. Log into your CFP Board account and complete the
exam registration form
Click the “Register for Exam” button on your Certification Dashboard,
or select the “Exam” section in your account.
3. Submit payment of the exam registration fee
The exam registration process in your online CFP Board account
allows you to pay the registration fee by credit card.
4. Schedule your testing appointment with Prometric
After submitting payment of the registration fee, you will be provided
with instructions for selecting your testing appointment on the
Prometric website.
Your CFP® exam registration includes FREE access to a CFP Board
Practice Exam. Once your registration is complete, you will be able to
access the Practice Exam through your CFP Board account. You will
also have the opportunity to purchase a second practice exam during
registration.
SCHEDULING YOUR TESTING APPOINTMENT WITH PROMETRIC
You can schedule your testing appointment after you complete CFP
Board’s exam registration form and pay the exam registration fee (see
above). CFP Board will notify you via email when your eligibility is
confirmed and will provide you with a link to the Prometric website where
you can schedule your test day and testing site location.
1. Follow the link in your confirmation email to Prometric’s scheduling
website.
2. Select “Schedule” under TEST CENTER EXAM or REMOTELY
PROCTORED EXAM, whichever is your preference.
3. Read the provided Privacy Policy Notice and the Data Privacy Notice
and select “I agree.”
4. Enter your CFP Board ID number in the “Eligibility ID” field, then, enter
the first four letters of your last name.
5. Use the search box to enter the area where you would like to take the
CFP® exam.
6. Select the date and time of your preferred appointment.
CFP BOARD PRACTICE EXAM
Your CFP® exam registration
includes access to the CFP Board
Practice Exam. This full-length,
170-question practice exam is
accessible online through your CFP
Board account, with results and
feedback available immediately.
The CFP Board Practice Exam can
be a valuable exam preparation
tool.
“
PURSUING CFP®
CERTIFICATION REQUIRES
A SERIOUS DEDICATION
OF TIME AND EFFORT,
BUT THE REWARDS IT
OFFERS ARE WELL WORTH
THE EFFORT. CFP BOARD
RESEARCH HAS SHOWN
THAT THE CLIENTS OF CFP®
PROFESSIONALS TEND
TO BE MORE SATISFIED
WITH THEIR FINANCIAL
PLANNING ENGAGEMENTS
AND ARE MORE LIKELY
TO RECOMMEND THEIR
PLANNER TO FAMILY
OR FRIENDS.
”
9
7. Complete the requested additional information. Note that your CFP
Board ID, first, and last name will be pre-filled on the form. Enter your
address and contact information into the appropriate fields. Click
“Next” to continue.
8. Verify your selected CFP® exam date and location. Ensure that
this information matches your selection. If changes need to be
made, use the “Back” button to revise your appointment. If the
testing appointment information is correct, select the “Complete
Appointment” button to confirm.
9. Upon confirmation, you will receive an email from Prometric with your
testing appointment confirmation details. Please save or print a copy
of the appointment confirmation for your records.
Scheduling is on a first-come, first-serve basis. Register for the exam 60
days or more in advance to help secure the most options for testing dates,
times and locations.
EDUCATION VERIFICATION, POSTPONEMENT,
AND WITHDRAWAL REQUESTS
(The deadline to request a withdrawal/postponement is the same as the
late registration deadline)
EDUCATION VERIFICATION
CFP Board must receive verification of completion of the education
coursework requirement for CFP® certification by the Education
Verification Deadline. Failure to meet the deadline results in de-
registration, release of the seat to other candidates, and postponement.
The postponement fee is $500.
FAILURE TO SCHEDULE
Candidates who are fully registered with CFP Board (i.e. exam application
completed, exam fee paid, and education verification completed),
but have not scheduled an appointment with Prometric will have until
the withdrawal/postponement deadline to secure an exam seat with
Prometric. Failure to secure an exam site with Prometric will result in de-
registration and postponement. The fee for postponement is $500.
POSTPONEMENT
(Postponement Deadline for July 2024: June 25, 2024)
The postponement fee is $500. Candidates may postpone an exam
only once per registration. Exams can be postponed to one of the next
two exam administrations. Please note that the postponement deadline is
the same as the Late Registration deadline.
WITHDRAWAL REQUEST
(Withdrawal Deadline for July 2024: June 25, 2024)
Candidates who decide not to pursue the exam after registering and wish
to withdraw their application are eligible to receive a $200 refund. Please
note that the withdrawal deadline is the same as the Late Registration
deadline.
Continue Your Path to CFP®
Certification: After you register for
the CFP® exam, you can continue
your work to complete the other
requirements for CFP® certification.
Log into your online CFP Board
account to report experience
through the Experience Reporting
Profile and to make progress
toward other requirements.
10
RESCHEDULING CONFIRMED APPOINTMENTS WITHIN THE EXAM WINDOW
Through Prometric, candidates are permitted to reschedule their exam
date, test site location, and scheduled test start times within their
registered exam window. No charges are applied for scheduling changes
30 days or more in advance of the scheduled exam appointment with
Prometric. A $100 scheduling change fee is applied for changes made
between 5 to 29 days in advance of the scheduled exam. No changes are
permitted less than 5 days in advance of their scheduled appointment.
30 Days (No change fee) — 29-5 Days ($100 change fee) —
5 Days (not permitted) —
Exam Day —
If you are moving your exam date from one exam administration to a future
exam administration, you are subject to either the Withdrawal or Postponement
policy. The Reschedule Policy is not applicable as this policy only concerns
rescheduling an exam appointment during the same testing window.
Important Note: In order to withdraw from an exam or postpone your
exam appointment, candidates must contact CFP Board at examinations@
cfpboard.org. Prometric will not be able to cancel your exam appointment
if contacted.
TESTING ACCOMMODATIONS
(For July 2024 Exam - Applications Accepted April 10 - May 29, 2024)
CFP Board is committed to ensuring access to the CFP® Certification
Examination for all individuals with disabilities and supports the
Americans with Disabilities Act as Amended (ADAAA). CFP Board
provides reasonable and appropriate accommodations to individuals with
disabilities who document a need for testing accommodations.
You can request testing accommodations after completing the exam
registration form and making payment to CFP Board by submitting a
Testing Accommodations Request Form.
Requests for testing accommodations are considered on a case-by-case
basis. Consequently, no single type of accommodation will necessarily be
appropriate for all individuals with disabilities, and simply demonstrating
that an individual meets diagnostic criteria for a particular medical
condition or disorder does not mean that person is automatically entitled
to testing accommodations.
The testing accommodations available include, but are not limited to:
Extended Time: Standard Time + 50% (total: 9 hours)
(Section 1: Test 4.5 hours; Section 2: Test 4.5 hours)
Additional 30-minute break per testing section (total: 7 hours)
(Section 1: Test 3.5 hours; Section 2: Test 3.5 hours)
Flexible Breaks (Stop the Clock Breaks)
Large-Font Exam
Private Room
Testing accommodation requests are not required for the use of
eyeglasses and hearing aids; insulin pump, if attached to your
body (medical equipment not attached to your body requires an
accommodation request); anti-glare screen; or cane/crutches/walker.
To learn more and to request testing accommodations, visit CFP Board’s
website at: CFP.net/exam-special-accommodations
“
CFP BOARD PROVIDES
REASONABLE AND APPROPRIATE
ACCOMMODATIONS TO
INDIVIDUALS WITH DISABILITIES
WHO DOCUMENT A NEED FOR
TESTING ACCOMMODATIONS.
”
11
EXAM PREPARATION
You are encouraged to prepare for the exam in advance of the scheduled
appointment. Advance preparation can help increase your confidence
and reduce anxiety as the exam draws near. Take time to learn what to
expect and what is expected of you at the testing center. CFP Board has
compiled a few tips from current resources that outline strategies to build
the foundation for a sound plan of study.
UNDERSTAND THE EXAM
A deeper understanding of the exam structure and its components will help
you to develop a plan to prepare for the exam. Understanding the exam
and its components helps you to avoid the following costly mistakes:
• Believing myths about the exam
• Wasting time on “beat the test strategies”
Your best strategy is to ensure sucient time is spent mastering the
content addressed on the exam. Managing time before and during the
exam is also a key strategy. Understanding the exam will help you develop
an approach for managing the time spent preparing for exam sections
and responding to items on the exam.
Identify the following facets of the exam before you develop a study plan:
1. How many questions are on the exam?
2. What format are the questions in?
3. How much time do you have to take the exam?
4. What topics are covered on the exam?
5. What do some of the questions look like?
CFP Board has a free Sample Exam available to help you become familiar
with the exam question format and testing interface at: cfp.net/SampleExam
DEVELOP A PLAN FOR STUDY
After answering the questions above, we recommend you develop a
plan that provides adequate time for reviewing items related to all of the
major categories outlined in CFP Board’s Principal Knowledge Topics.
Allocate additional time for areas where you have identified deficiencies in
knowledge and skill mastery.
Find a study space that is free from distractions. Make sure you have
ample space for your textbooks and notes. Find a space with plenty of
lighting and a comfortable chair. Consider what works for you and make
every eort to maintain a consistent study schedule at regular intervals.
Take time to write down everything you already know about the topic you
are reviewing. Use your notes on the topic to identify any gaps in your
understanding. Draft notes that address the gaps you have identified.
Record your ideas in a brief format that will allow you to recall everything
you need to know during the exam.
For more on how to develop an exam study strategy including setting
priorities and creating a study plan that works, refer to the companion to
this Exam Handbook, the CFP® Exam Candidate Preparation Toolkit at:
cfp.net/ExamPrepToolkit
“
THE FIRST STEP IN
PREPARATION IS TO BECOME
FAMILIAR WITH THE EXAM. A
DEEPER UNDERSTANDING OF
THE EXAM STRUCTURE AND
ITS COMPONENTS WILL HELP
YOU TO DEVELOP A PLAN TO
PREPARE FOR THE EXAM
”
12
PRACTICE EXAM TAKING
As you study, try to identify questions that could possibly be asked on the
test and assemble your own practice exam by integrating ideas from your
readings, lectures, and notes.
You can also use prepared practice exams, which are available from
exam preparation vendors. CFP Board oers a complimentary full-length
Practice Exam that comes FREE with your exam registration, and will be
accessible through your online account once you register and pay for
the CFP® exam. Learn more about these resources from CFP Board:
CFP.net/PracticeExams.
Take advantage of the resources available to practice responding to
multiple-choice tests. Familiarize yourself with the structure and prompts
that ask you to respond to the question material. Develop the skill of
identifying key pieces of information that are needed to respond to the
test questions.
Sometimes it helps to express ideas in words. Discuss your practice exam
questions with others. Make sure you speak out loud when you explain the
answer to a test question. Verbalizing your thoughts will help you to get it
clear in your head. This practice will also help you identify gaps where you
will need more work.
TAKING A REVIEW COURSE
Many exam takers find that a review course — though not required by
CFP Board — helps them prepare for the CFP® exam. CFP Board provides
a partial list of available review courses at CFP.net/ReviewCourses;
other courses can be found by searching online. These courses and their
providers are not endorsed or recommended by CFP Board.
FIND SUPPORT
Exam takers often find it beneficial to have support as they prepare for
the CFP® exam. Often, connecting with someone who is also studying or
who has recently completed the exam and certification process can be
very helpful. Forming or finding a study group can help you carve out
dedicated study time and stay focused on topics for review. Group study
sessions allow members to learn from peers. As the group works its way
through the topics, you or your group members may have questions that
can be addressed by each other. Being part of a group may also help
encourage you to remain accountable to your study schedule and make
the most of your study time.
The CFP Board Candidate Forum is an online discussion community for
those pursuing CFP® certification. Here you can join the conversation
with other candidates for CFP® certification to ask questions, seek
advice, and learn from others’ experiences. You can also connect with
others preparing for the upcoming exam in the Study Group Forum.
You can access the Candidate Forum and the Study Group Forum at
candidateforum.CFP.net.
The CFP Board Mentor Program connects candidates for CFP®
certification with established CFP® professional volunteers in a relationship
designed to provide free one-on-one guidance, advice and support as
you prepare for the CFP® exam. Mentees are required to find a mentor by
the enrollment deadline to participate in the program. You can find the
Mentee Success Kit at the end of this handbook. More details and how to
enroll are available at CFP.net/mentor.
7 TIPS FOR TAKING A
MULTIPLE-CHOICE EXAM
1. Read the entire question before
you look at the possible answers.
2. Come up with the answer in
your head before looking at the
possible answers; this way, the
choices given on the test won’t
distract you from focusing on the
question.
3. Read all the choices before
choosing your answer so that you
select the best one.
4. Eliminate answers you know are
not correct.
5. There is no guessing penalty,
so it’s always best to take an
educated guess if you are
uncertain of the answer.
6. Don’t keep changing your
answer; usually your first choice is
the right one, unless you misread
the question.
7. Go through the exam and answer
the questions you know first. Mark
the others for review and then go
back to those you skipped over.
This will ensure that you don’t lose
time by focusing on one question
you aren’t sure about.
“
I’VE BEEN THANKFUL
FOR THE QUESTIONS
AND ANSWERS MEMBERS
POSTED ON THE CANDIDATE
FORUM DURING THE TIME
I WAS STUDYING FOR
CFP® EXAM. I OWED THE
SUCCESS OF PASSING THE
EXAM TO THE EXPERIENCE
AND ENCOURAGEMENT
SHARED BY THE FORUM
MEMBERS. – DIEP LE,
CFP®.
”
13
PLAN YOUR EXAM DAY
Become familiar with your schedule on exam day. Map routes to the
test center in advance and practice driving there a week before your
scheduled appointment. Plan to arrive at the testing center 30 minutes
in advance of your scheduled appointment time. Review check-in
procedures for the test center. Understand the center’s rules and
requirements. Identify how your appointment time will be allocated
to specific activities so you know what to expect on exam day.
Do not neglect your health and personal well-being prior to the
exam. Continue your social and recreational activities and take breaks
throughout the course of your study.
Study like you are preparing for a marathon. Marathon runners do not
train by running 24 hours a day. Instead they take regular breaks to ensure
they have recovered from their training eorts. Excessive studying may
actually be counter-productive. Develop a study routine that allows for
you to take free time throughout the week. And do your best to get a
good night’s sleep the evening before your testing appointment. Part of
managing test-related anxiety eectively comes from budgeting sucient
time to cover the material and time for adequate rest.
TEST DRIVE
Prometric oers test takers the
opportunity to take a 30-minute
“dry run” of the test center
experience prior to their exam,
whenever the test center has
available appointments. The
program, called Test Drive, allows
candidates to walk through, on
a practice basis, all check-in and
testing procedures that occur at
the test center on test day.
The optional Test Drive experience
costs $30 U.S. and includes check-
in, ID confirmation, documentation
checking, image capture, seating,
tutorial, a generic sample test, a
survey of the experience, an end-
of-test report and check-out.
Once checked in, you’ll be
exposed to the full testing
experience described above, in
addition to the use of lockers,
testing at a computer for 15
minutes and exposure to TCAs
walk-throughs, which occur during
any actual test. While Test Drive
will not necessarily represent
the look, feel or content of your
particular exam, it will allow you
to experience samples of question
types that you might encounter
on the actual exam. Additionally,
by driving to the testing center
in advance, you can familiarize
yourself with the parking situation,
the location of the testing suite
and the time it takes to drive to
the center.
Test takers interested in scheduling
a Test Drive appointment can do
so in the same manner in which
they would schedule an actual
exam. Appointments are made
through Prometric at prometric.
com/test-drive.
“
PERSONAL FINANCIAL PLANNING IS AN EXCITING, GROWING
PROFESSION. WITH THE ECONOMIC CHALLENGES THE WORLD
HAS FACED IN RECENT YEARS, AND WITH INDIVIDUALS FACING
INCREASED RESPONSIBILITIES AND OPTIONS FOR PLANNING THEIR
OWN FINANCES, THERE HAS NEVER BEEN A GREATER NEED FOR
PROFESSIONAL FINANCIAL PLANNING SERVICES.
”
14
EXAM DAY
You must report to the examination site 30 minutes in advance of your scheduled
appointment time.
WHAT TO BRING TO THE EXAM
Bring the following items to the exam site:
1. Valid government-issued photo identification, exactly matching the name under
which you registered, such as:
• Valid driver’s license
• Valid government-issued ID card
• Valid passport
• U.S. military ID card
2. One or more battery-powered, non-programmable, dedicated financial function
calculator(s). (see Calculator Policy in Appendix C)
You may not bring any of these prohibited items:
1. Food and drink (excluding water) are not permitted in the exam room.
Candidates may bring one clear bottle of water with all labels removed into
the exam room. (All test sites provide access to water fountains located
outside of the exam room. Individuals who require access to food or liquids for
medical reasons during any of the exam sections are required to file a Testing
Accommodations Request Form.)
2. No notes of any kind are permitted in the testing room(s).
3. While testing is in session, candidates are prohibited from accessing electronic
devices other than an acceptable calculator.
CHECK-IN PROCESS
1. The check-in process verifies the identity of the candidate (see Appendix B) and
assures nothing is taken into the testing room that could potentially jeopardize
the security of the exam.
2. As part of the check-in process, candidates are provided with a locker key and
instructed to leave all personal belongings in assigned lockers.
3. Once personal items are secured, the check-in process continues with the
verification of valid, government-issued, photo ID and electronic capture of
fingerprints and photograph. A scan of the fingerprint is captured each time a
candidate enters or leaves the exam room.
4. Prior to entering the exam room, candidates are asked to verify they have
nothing in their pockets (pull-out pockets), and the proctor conducts a brief
body scan using a portable wand (much like TSA at the airport). Calculators are
inspected according to CFP Board’s Calculator Policy (see Appendix C), and
memory is cleared before entering the exam room.
5. Upon completing the check-in process, the proctor escorts the candidate to his
or her assigned workstation.
6. Scratch paper, pencils, and noise cancelling headphones are available, but
optional. The scratch paper and pencils are collected and not permitted to leave
the examination room.
7. Security of the exam is protected by active proctoring and monitoring of video
camera surveillance. The digital video recordings are retained until after exam
results are ocial.
View a short video of the check-in process at Prometric test centers at:
prometric.com/test-takers/what-expect
“
BECOME FAMILIAR
WITH YOUR SCHEDULE
ON EXAM DAY.
”
“
THE CHECK-IN
PROCESS VERIFIES
THE IDENTITY OF
THE CANDIDATE AND
ASSURES NOTHING
IS TAKEN INTO THE
TESTING ROOM THAT
COULD POTENTIALLY
JEOPARDIZE THE
SECURITY OF
THE EXAM.
”
15
CFP BOARD NON-DISCLOSURE AGREEMENT
You are required to sign the CFP Board Non-Disclosure Agreement
before the start of each exam. Signing the agreement is a commitment
to behaving ethically before, during, and after the exam. Please see the
Candidate Conduct sidebar on this page for more information.
TAKING THE EXAM (EXAM PROCEDURES)
Once seated, you may progress through the first section of the exam at
your own pace. Basic instructions are provided at the onset, and timing
of the exam begins with the presentation of the first exam question.
Please note that the concept of “brain dumping” at the start of the test is
inappropriate and not allowed.
The exam is presented in two 3-hour sections separated by a scheduled
40-minute break. An exam clock is provided to show available time
remaining.
During the exam you have the ability to highlight text and mark questions
for later review. You also have access to the Formulas and Tax Tables
provided in Appendices D and E.
CFP Board has a free Sample Exam available to help you become familiar
with the testing interface at: cfp.net/SampleExam
BREAK TIMES
Scheduled: A scheduled 40-minute break will begin upon completion of
all the questions in the first section, or when time expires — whichever
occurs first. Be sure to return to your workstation before the 40-minute
break time ends. Timing of the second section begins exactly 40 minutes
after the completion of the first section, regardless of whether or not you
have returned to your seat.
Midsection Break: Each section of the exam is divided into two distinct
subsections, and an optional unscheduled break may be taken between
those subsections.
Candidates can move back and forth within each subsection. However,
once the next subsection begins, candidates will not be allowed to access
the previous subsections of the exam.
Check in Procedure: Upon returning from a break, without exception,
you must go through all security checks, present valid ID, sign-in and, if
required by the test sponsor, provide a fingerprint to be re-admitted to
the test room (see Appendix B).
FINISHING THE EXAM
If additional time remains after all exam questions have been answered,
you may review your work and make any changes to your responses until
time expires for the exam section. Please note that you are not permitted
to revisit the first exam section once you begin your scheduled 40-minute
break.
AFTER COMPLETING THE EXAM
Upon completion of the exam, you are required to exit the testing room
and report to the proctor. You will be asked to retrieve your personal
belongings from your locker and return your locker keys.
CANDIDATE CONDUCT
You are 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 prohibited aids in connection
with the exam including
violations of the Calculator Policy,
attempting to give or receive
assistance, or to 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. CFP Board will take
disciplinary action, if appropriate.
Before taking the exam, you will
be required to agree that you
understand that you are prohibited
from sharing exam questions with
any entity other than CFP Board.
Revealing questions may result
in disciplinary action including,
but not limited to: monetary
restitution, being permanently
barred from taking any CFP
Board exam or prosecution under
copyright law. If any individual or
entity (including a review course
provider or academic program)
asks you to reveal contents of the
examination, please report the
incident to CFP Board.
If CFP Board or the exam proctors
find reason to believe that you
are involved in examination
misconduct or any other testing
irregularity that could compromise
the integrity of the exam, your
exam may not be scored, the exam
fee may be forfeited and you may
be barred from taking future CFP
Board exam administrations.
Exam Integrity Tip Line:
855-EXAM TIP or
855.392.6847
CFP Board’s confidential, toll-free
Exam Integrity Tip Line is available
for examinees to report any type
of exam-related security issue or
misconduct.
16
REMOTE PROCTORED EXAM
Please familiarize yourself with the CFP Board Remote Testing Policy and Agreement. Candidates accept these
terms when they schedule a remote proctored examination.
To qualify for remote proctoring, you will need a fast and reliable internet connection and a computer or laptop
that meets these minimum technical requirements:
Screen Resolution: 1920 X 1080
Operating System: Windows 8.1 or MacOS 10.13 or higher except for 13.0 through 13.2.1.
Web Browser: Latest Google Chrome
Webcam Resolution: 640 X 480p (if not using a laptop, a portable webcam is required)
Microphone: Enabled
Download Speed: 1.0 mbps
Upload Speed: 0.5 mbps
Firewalls and VPNs MUST be disabled (especially on work computers)
NOTE: iPad/Android tablets are not currently supported. Microsoft Surface or similar can be used only when
configured in laptop mode.
Remote Proctoring is only authorized within the United States
Before scheduling to take the CFP® exam remotely, you are advised to run the System Readiness Check
(rpcandidate.prometric.com). The results will help you to determine if your system meets the minimum
technology requirements and if your operating system is compatible to install and run the ProProctor application.
The system check can be conducted at any time on the Prometric website.
You are taking a certification exam. Please treat your environment as if you were in a testing center.
• Candidates are expected to test alone for the entire duration of the exam and stay in view of the camera.
Please plan to have no interruption in your testing room. Persons or pets are not allowed in the testing room
or area throughout the duration of the exam.
• Candidates are expected to take the exam in a clear, orderly and well-lit room. Please clear the testing area
before the test to facilitate the check-in process
• Candidates are expected to sit in an upright position during the examination. Please note that the desktop
or laptop must be on a table or desk throughout the duration of the exam.
• Candidates are expected to sit in a chair during the examination. Sitting or reclining in a bed or couch with
the computer on your lap is not allowed.
• Candidates are not allowed to use a dual-monitor configuration to take the CFP® exam. The computer must
be undocked throughout the duration of the exam.
• Candidates MUST notify the proctor and receive approval BEFORE taking a scheduled or unscheduled
break. Failing to do so could result in the termination of the exam.
• Candidates are prohibited from using physical scratch paper or erasable whiteboards while taking the exam
remotely. A virtual scratch pad will be provided on screen for notetaking during the exam.
• Formula sheets and tax tables will be provided onscreen, Printed copies will not be allowed.
• Candidates may have approved CFP Board calculator(s) and loose batteries
17
CHECK-IN PROCESS
Candidates are encouraged to log in 30 minutes before the exam time to
begin the check-in process.
During the check-in process the following self-service steps will occur:
1. The ProProctor system will prompt you to capture your image.
2. The system will prompt you to capture an image of your government-
issued ID.
3. The system will prompt you to read a check list to ensure the following
is in place before meeting with a Readiness Agent
We encourage candidates to clear their testing area well in advance of the
testing appointment to ensure a smooth check-in process.
You will meet the Prometric Readiness Agent who will guide you through
three security checks before launching your exam:
1. ID Verification.
Your Readiness Agent will confirm your name, address, and exam
details via video chat.
2. 360˚ Environmental Check
Your Readiness Agent will ask you to provide a 360-degree view of
your environment using your webcam.
Your Readiness Agent also will ask you to scan your work surface
using your webcam. We strongly recommend having a medium-to-
large mirror during your environmental check.
During this step, your Readiness Agent will ask to inspect things such
as bookshelves, wall hangings, electronic devices such as televisions.
(*It is recommended to have a large bedsheet or linen available if
asked to cover any area of clutter*)
Do not have your laptop connected to a docking station anytime
during the setup of your exam. This can cause connectivity issues.
Make sure to clear your workspace and put away all personal items.
3. Candidate Person Check
Your Readiness Agent will ask you to stand up to do a scan of your
person. This scan will include — but is not limited to — conducting a
sleeve, pocket and glasses check. Additionally, you will be asked to
turn all pockets inside out and remove large jewelry items from your
person prior to and throughout the duration of the exam.
In order to expedite the check-in process, please remember to
empty your pockets prior to the visual check.
18
AFTER THE EXAM
EXAM RESULTS
The CFP® Certification Examination is a criterion-referenced, pass or fail
exam. The CFP® exam is scored based upon a minimum standard, or
criterion, established by CFP® professionals in a formal process known
as Standard Setting. The Standard Setting process establishes a cuto
standard score for passing the exam.
Shortly after completing the exam, Prometric will email you your
preliminary results. You will receive your ocial results letter by email
approximately 4 to 6 weeks following the close of the testing window.
Candidates who do not pass receive a diagnostic report of their exam
performance across the Principal Knowledge Topics, with indications
of relative strengths and weaknesses. Candidates who pass will receive
instructions for taking their next steps toward CFP® certification.
CFP Board does not disclose exam results over the phone, via email or
by fax.
RETAKE POLICY
If you do not pass the CFP® exam and elect to retest, you are required to
retake the entire exam. You must wait until the next testing window to
retest and will need to pay the exam fee for each retake.
CFP Board has implemented the following limits on the number of times
an individual can attempt the CFP® exam:
1. Individuals may attempt the exam up to a lifetime maximum of 5
times. (Individuals who have attempted the exam 4 or 5 times prior to
January 1, 2012 will be permitted 2 additional attempts.)
2. Individuals may attempt the exam a maximum of 3 times within
a 24-month period. If an individual fails the exam 3 times in a
24-month period, they must sit-out three exam administrations before
registering for another attempt.
EXAM DAY ISSUES
CFP Board reviews all exam-related issues identified by examinees and
investigates significant exam-day issues with the test delivery vendor. If
you have an issue to report, please contact CFP Board at examinations@
cfpboard.org no later than 10 business days after the close of the exam
window to report exam-related issues that require further investigation.
“
CANDIDATES WHO DO NOT
PASS THE EXAM RECEIVE A
DIAGNOSTIC REPORT OF THEIR
EXAM PERFORMANCE ACROSS
THE PRINCIPAL KNOWLEDGE
TOPICS, WITH INDICATIONS
OF RELATIVE STRENGTHS AND
WEAKNESSES.
”
19
REPORTING EXPERIENCE
Experience can be reported to
CFP Board at any time, through
the Experience Reporting Profile.
The Experience Reporting Profile
can be accessed through your
online CFP Board account. Click
on the Experience link within the
Certification Tracker.
Experience Standards. 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.
Qualifying experience includes
activities involving the delivery
of financial planning services
to individual clients. Whether
you engage with clients directly,
supervise or support the financial
planning process, teach finance-
related courses, or participate in
internships or the FPA Residency
Program, there are many paths
to completing the experience
requirement. Submit experience
activities and experiences that
reflect your financial planning
knowledge and competencies.
Timeline for Experience.
Experience must be completed
within 10 years before and 5 years
after successful completion of the
CFP® exam. CFP Board encourages
those pursuing certification
to submit eligible experience
for acceptance on an ongoing
basis until the required number
of experience hours are met. If
the start date for an experience
entry falls outside of the 10-year
or 5-year window, the candidate
will have the ability to refresh the
hours for a current position or add
additional experience within the
appropriate time frame.
REPORTING EDUCATION
Bachelor’s Degree Requirement.
Submit an ocial transcript
verifying that you hold a bachelor’s
degree or higher from an
accredited college or university.
Degree accreditation must be
recognized by the U.S. Department
of Education at the time the
degree is awarded. You do not
need to submit the transcript in
order to sit for the CFP® exam.
However, you do need to complete
this requirement in order to
become certified.
CFP BOARD’S CAREER
CENTER:
As you look to gain work
experience, the CFP Board
Career Center can be a valuable
resource. The Center includes
an active job board of open
positions at all experience
levels with financial services
companies plus internships, as
well as resources relating to
the financial planning field and
professional development. You
can access the Career Center at:
CFP.net/career-center.
20
APPENDIX A: PRINCIPAL KNOWLEDGE TOPICS
The following Principal Topics are based on the results of CFP Board’s 2021 Practice Analysis. The Principal
Topics serve as a curricular framework and also represent subject topics that CFP Board accepts for continuing
education credit. Each exam question will be linked to one of the following topics, in the approximate
percentages indicated following the general headings.
8 PRINCIPAL KNOWLEDGE DOMAINS:
A. Professional Conduct and Regulation (8%)
B. General Principles of Financial Planning (15%)
C. Risk Management and Insurance Planning (11%)
D. Investment Planning (17%)
E. Tax Planning (14%)
F. Retirement Savings and Income Planning (18%)
G. Estate Planning (10%)
H. Psychology of Financial Planning (7%)
A. PROFESSIONAL CONDUCT
AND REGULATION (8%)
A.1 CFP Board’s Code of Ethics and Standards of Conduct
A.2 CFP Board’s Procedural Rules
A.3 Function, purpose, and general structure of financial
institutions
A.4 Financial services regulations and requirements
A.5 Consumer protection laws
A.6 Fiduciary standard and application
B. GENERAL PRINCIPLES OF
FINANCIAL PLANNING (15%)
B.7 Financial planning process
B.8 Financial statements
B.9 Cash flow management
B.10 Financing strategies and debt management
B.11 Economic concepts
B.12 Time value of money concepts and calculations
B.13 Education needs analysis
B.14 Education savings vehicles
B.15 Education funding
B.16 Gift/income tax strategies
C. RISK MANAGEMENT AND
INSURANCE PLANNING (11%)
C.17 Principles of risk and insurance
C.18 Analysis and evaluation of risk exposures
C.19 Health insurance and health care cost management
(individual and group)
C.20 Disability income insurance (individual and group)
C.21 Long-term insurance and long-term case planning
(individual and group)
C.22 Qualified and Non-Qualified Annuities
C.23 Life insurance (individual and group)
C.24 Business owner insurance solutions
C.25 Insurance needs analysis
C.26 Insurance policy and company selection
D. INVESTMENT PLANNING (17%)
D.27 Characteristics, uses and taxation of investment
vehicles
D.28 Types of investment risk
D.29 Market cycles
D.30 Quantitative investment concepts and measures of
investment returns
D.31 Asset allocation and portfolio diversification
D.32 Bond and stock valuation concepts
D.33 Portfolio development and analysis
D.34 Investment strategies
D.35 Alternative investments and liquidity risk
21
E. TAX PLANNING (14%)
E.36 Fundamental and current tax law
E.37 Income tax fundamentals and calculations
E.38 Characteristics and income taxation of business entities
E.39 Income taxation of trusts and estates
E.40 Tax reduction/management techniques
E.41 Tax consequences of property transactions
E.42 Tax implications of special circumstances
E.43 Charitable/philanthropic contributions and deductions
F. RETIREMENT SAVINGS AND
INCOME PLANNING (18%)
F.44 Retirement needs analysis
F.45 Social Security and Medicare planning
F.46 Eldercare and special needs planning
F.47 Types of retirement plans
F.48 Qualified plan rules and options
F.49 Non-qualified plan rules and options
F.50 Key factors aecting plan selection for businesses
F.51 Distribution rules and taxation
F.52 Retirement income and distribution strategies
F.53 Business succession planning
G. ESTATE PLANNING (10%)
G.54 Property titling and beneficiary designations
G.55 Strategies to transfer property
G.56 Estate and incapacity planning documents
G.57 Gift, estate, and GST tax compliance and calculation
G.58 Sources for estate liquidity
G.59 Types, features, and taxation of trusts
G.60 Marital deduction
G.61 Intra-family and other business transfer techniques
G.62 Postmortem estate planning techniques
G.63 Planning for divorce, unmarried couples and other
special circumstances
G.64 Planning for special needs and circumstances
H. PSYCHOLOGY OF FINANCIAL PLANNING (7%)
H.65 Client and planner attitudes, values, biases
H.66 Behavioral finance
H.67 Sources of money conflict
H.68 Principles of counseling
H.69 General principles of eective communication
H.70 Crisis events with severe consequences
22
APPENDIX B: TESTING CENTER REGULATIONS
• The TCA will inform you what is permitted during
exam breaks, specifically regarding whether
access to your locker, and access to cell phones
and notes within it, is permitted or not. All
candidates must inform the TCA before accessing
a stored item during a break, including medicine.
Repeated or lengthy departures from the test
room will be reported to the test sponsor.
• Upon return from a break, without exception, you
must go through all security checks, present valid
ID, sign-in and, if required by the test sponsor,
provide a fingerprint to be re-admitted to the test
room.
PROHIBITED ITEMS AND EXAMINEE
CONDUCT IN THE TEST CENTER
• Weapons are not allowed in any Prometric Test
Center.
• Unauthorized personal items may not be brought
into the test room. Such items include, but are not
limited to: outerwear, hats, food, drinks other than
water, purses, briefcases, notebooks, watches,
cell phones, electronic devices, or wearable
technology.
• Written notes, published materials and other
testing aids are strictly prohibited in the test
room, except where allowed by your test sponsor.
Test center sta will refer to the applicable Client
Practices for allowances.
• Written notes or electronic devices discovered
in the test room will be confiscated by the Test
Center Administrator.
• Only soft ear plugs (with no wires/cords
attached) and center-supplied tissues are
permitted in the test room.
• All materials issued by the TCA must be returned
at the conclusion of testing. Used scratch paper
must be returned before new scratch paper will
be issued by the TCA during your exam.
• Light clothing items removed for comfort such
as sweaters, suit jackets, scarves, etc., must be
hung on the examinee’s chair, not placed in laps
or on the workstation desktop. Outerwear such
as heavy coats, parkas, rain coats, etc., is not
permitted in the test room.
• Talking to other candidates in the test room,
referring to their screens, testing materials or
written notes is strictly prohibited.
Note: Client/test sponsor practice policies shall
supersede these regulations if a conflict exists.
PROMETRIC TEST CENTER REGULATIONS
Candidates are required to be professional, civil and
respectful at all times while on the premises of the
test center. All exams are continuously monitored by
video and audio recording, physical walk-throughs,
and through the observation window. The Test
Center Administrator (TCA) is authorized to dismiss
you from the test session for a violation of any of the
Test Center Regulations, including exhibiting abusive
behavior towards the TCAs or other candidates. If
you are found to have violated any of the regulations
during your exam, the TCA is required to notify
Prometric and your test sponsor. Prometric, alone
or in conjunction with your test sponsor, shall then
take any further action necessary to sanction your
conduct, up to and including invalidation of your test
score and/or pursuit of civil or criminal charges.
CONFIDENTIALITY OF EXAM CONTENT/SYSTEMS
• The computer-based test delivery system,
tutorial, exam content, and survey are the
unpublished, confidential, and proprietary
materials of Prometric and/or your test sponsor.
• Communicating, publishing, reproducing, or
transmitting any part of an exam, in any form
or by any means (e.g. verbal, electronic, written,
etc.) for any purpose is strictly prohibited.
• ANY reproduction or disclosure will result in the
immediate filing of civil and/or criminal charges
against you and anyone directing or conspiring
with you.
TEST CENTER CHECK-IN PROCEDURES & BREAKS
• Original, valid (unexpired), government issued
photo & signature bearing identification is
required in order to take an exam. Validity and
the number of acceptable IDs are predetermined
by your test sponsor.
• You will be scanned with a metal detector wand
prior to every entry into the test room.
• You will be required to raise your pants legs
above your ankles, empty and turn all pockets
inside-out and raise shirt sleeves above your
wrists prior to every entry into the test room.
• If you are wearing eyeglasses you will be required
to remove them for visual inspection to ensure
they don’t contain a recording device. Large
jewelry items must be stored in your locker due
to concerns over concealed recording devices.
• Exams may have scheduled or unscheduled
breaks, as determined by your test sponsor. Each
time you leave the test room you must sign-out.
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PRE-APPROVED SHARP CALCULATORS
Sharp EL733 Sharp EL733a Sharp EL738
PRE-APPROVED TEXAS INSTRUMENTS CALCULATORS
TI Ba11 Plus TI Ba11 Plus Professional TI Ba11 Plus Business Analyst
APPENDIX C: CALCULATOR POLICY
You will need a dedicated financial calculator to assist with examination questions that may require calculations
of the time value of money, unequal periodic cash flows, and internal rate of return (IRR).
The calculators listed below are the only calculators allowed into the testing room. Newer and older versions
of these calculators will be allowed into the testing room (the images below do not represent all versions of each
model).
While testing is in session, examinees are prohibited from accessing electronic devices other than an acceptable
calculator. Loose batteries (without packaging) are permitted in the testing room; however,
CFP Board advises candidates to replace and test fresh batteries in the calculator prior to the examination.
Calculators will be inspected by proctors prior to the start of the examination. You are required to clear your
financial calculator’s memory prior to each section of the exam. Please do not ask Test Center Administrators
employed by Prometric to clear your calculator’s memory. It is your responsibility to revert your calculator back
to your desired setting(s) once the calculator’s memory has been cleared. If your calculator has notes/formulas
printed on the back of the calculator, includes pull-out cards or contains other supplemental material, this
information must be removed or masked by solid color tape before entering the testing room.
PRE-APPROVED HEWLETT-PACKARD CALCULATORS
HP 10B HP 10Bii HP 10Bii+ HP 12C HP12C Platinum HP 17Bii+
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PROVIDED FORMULAS
These formulas are available to exam candidates when taking the CFP® Certification Examination:
APPENDIX D: PROVIDED FORMULAS
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The tax tables and limits below are provided to individuals when taking the CFP® Certification Examination.
EXAM WINDOW TAX RATES, TABLES, & LAW TESTED
July 2024 2024
November 2024 2024
March 2025 2024
Review the tax tables for the next CFP® exam administration at CFP.net/exam-tax-tables
APPENDIX E: PROVIDED TAX TABLES
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APPENDIX F: POLICY EXCEPTIONS & APPEALS
POLICY EXCEPTIONS
CFP Board enforces the policies and requirements for CFP® certification in a consistent manner. Exceptions
to established policies and requirements are granted in only the rarest of circumstances. Candidates for CFP®
certification who wish to request exceptions to specific policies or requirements of CFP Board may complete and
submit a Policy Exception Request Form.
For more information, visit CFP Board’s website at: CFP.net/policy-exceptions
REVIEWS AND APPEALS
For security reasons, the exam material is not available for review and appeal. Comments about exam questions
are considered, however, and will be reviewed by the Council on Examinations. Neither Prometric sta nor CFP
Board sta will discuss specific exam questions. You may submit your comments about exam questions in writing
via email to examinations@cfpboard.org or by mail to:
CFP Board
Attn: Exam Specialist
1425 K Street NW #800
Washington, DC 20005
All comments about exam questions must be received by CFP Board no later than the close of the examination
window.
Appeals of exam policies are reviewed by CFP Board’s Policy Exception Committee. Candidates for CFP®
certification may complete and submit a Policy Exception Request Form.
EXAMINATION RESULTS APPEAL PROCESS
The CFP® exam is scored through Prometric’s examination software with a high degree of accuracy. It is highly
unlikely that an exam result will change from “fail” to “pass” following a rescore after the results are released.
However, should candidates determine that they want their examination rescored, they may submit a request
within 30 days of the final result release date. There is a $150 fee for re-scoring. Written requests for a re-score
should be emailed to examinations@cfpboard.org.
Requests must include your name, the examination date, the fee payment information, and the specific reason for
requesting the re-score. Requests without the fee will be returned to you, and requests submitted more than 30
days after the release of the final results will not be processed.
The re-scoring process may take up to 30 days to complete. After the exam has been re-scored, candidates will
receive an email confirming the re-score outcome. Note that candidates will not receive a further breakdown of
their exam result upon receiving the re-score outcome confirmation.
In the event that your exam result changes from a “fail” to a “pass,” you will be reimbursed your re-scoring fee.
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MENTOR PROGRAM
MENTEE SUCCESS KIT
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MENTORING OBJECTIVES
The CFP Board Mentor Program is designed to help you stay on track while studying for the next CFP®
exam. We encourage you to enroll in this unique resource to help you prepare for the exam. If you’ve
already enrolled, thank you for signing up to be a mentee!
For more details and enrollment, go to CFP.net/mentor.
Your Objectives as a Mentee:
1. Build a supportive relationship with your
mentor focused on your exam preparation.
2. Review your study strategy with your
mentor and stay on track with your plan.
3. Use CFP Board’s exam and mentoring
resources to understand the best practices
for exam success and complete CFP
Board’s Practice Exam.
4. Take advantage of your mentor’s
experience, knowledge, advice and support
as you prepare for the CFP® exam.
YOUR NEXT STEPS
Below are your next steps to ensure a successful relationship after you’ve enrolled.
1. Your first step is requesting a mentor. Go
to CFP.net/FindMentor and search for a
CFP® professional who meets your criteria
and send them a mentoring request.
Mentees are encouraged to only have one
mentor.
2. Once your mentoring request has been
accepted, send your mentor an email
to start the relationship. Your mentor’s
contact information will be on their
Mentor Profile.
3. Meet with your mentor (in person or
virtually) at least 3 times leading up to the
next CFP® exam.
4. Focus your relationship on exam
preparation. You’ll be working with your
mentor for 3 to 4 months. We’ll formally
end all mentoring relationships at the
close of the exam window.
We strongly encourage candidates to find their mentor first. If you have trouble finding a mentor or
need help connecting with a CFP® professional, please email mentor@cfpboard.org.
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GETTING STARTED
TIPS FOR YOUR FIRST MEETING
To help you get started, here is a suggested agenda for your first meeting with your mentor:
Introductions – introduce yourself so your mentor knows more about you and your background.
Cover your mutual understanding of the mentoring process and what you hope to get out of
the relationship.
Discuss any boundaries of the relationship (confidentiality, etc.).
Bring 2-3 topic areas, related to exam preparation, that you want to focus on during your
mentoring relationship.
Determine how often you will maintain contact with each other.
Establish times for regularly scheduled communications.
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HOW TO BE SUCCESSFUL
To set a framework for your mentoring relationship, here are exam tips to help you be more successful:
• Research shows those who follow their study plan are more likely to pass the exam. Create a
study plan and share it with your mentor. Schedule check-ins to make the most of your study time
and stay on track.
• 65% of those who passed the CFP® exam used the CFP Board Practice Exam as part of their
study program. This is a complimentary resource with your exam registration. Take your practice
exam and share your progress with your mentor.
• Based on research, those who passed the exam were significantly more likely to study 11-15
hours per week. Make sure your study plan aligns with this and ask your mentor for any time
management tips.
• Take a review course. Those who passed the exam said the two best ways to prepare were taking
a review course and focusing on practice questions. Ask your mentor for recommendations on
the review course(s) they took to prepare and how they incorporated practice questions into their
exam prep.
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HELPFUL RESOURCES
• Additional resources relating to mentoring can be found in the Mentor Program Resource Library.
Visit CFP.net/MentorResouces to access these resources.
• You may have questions about the certification process that your mentor isn’t sure how to answer.
Post your questions in CFP Board’s Candidate Forum. This is an online community exclusively for
candidates where you can connect, ask questions, and get helpful responses from your peers.
To access the Candidate Forum, please visit CandidateForum.CFP.net.
• Do you have questions where you might benefit from a one-on-one conversation? If so, we
encourage you to contact the CFP Board Stakeholder Services team at 1-800-487-1497.
• We look forward to working with you to make your mentoring relationship successful.
Please keep in touch! If you have any questions, please email mentor@cfpboard.org.
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