Finance & Accounting
CFP (CFP Board)
Certified Financial Planner (CFP)
Free CFP practice questions 83 questions with full answer explanations. No sign-up. Start practice →Overview
The CFP (Certified Financial Planner) is the leading certification for personal financial planning in the United States, administered by CFP Board. Unlike investment-focused credentials, it covers the full breadth of planning a real client faces: cash flow, insurance, investments, tax, retirement and estate planning, plus the professional standards that govern advice.
Certification is not just an exam. CFP Board requires four components, often summarised as the "4 E's": Education (a registered program plus a capstone financial plan course), Examination (the computer-based exam), Experience (thousands of hours of qualifying work) and Ethics (a background check and agreement to the Code of Ethics and Standards of Conduct).
The exam itself is a single, demanding test split into two sections, blending stand-alone questions with short scenarios and longer case studies. CFP Board does not publish a passing percentage; it reports results as pass or fail, with the standard set through a formal process.
✓ Who it is for
- People building a career in personal financial planning and advice
- Advisers who want a recognised, fiduciary-aligned planning credential
- Specialists in insurance, tax or retirement broadening into holistic planning
✕ Who it is not for
- Anyone aiming purely at investment analysis or portfolio management - that is the CFA's territory.
- Accountants whose real path is the CPA or audit work.
- People who want a quick certificate; the CFP combines education, experience, an exam and ethics over time.
Exam structure
| Professional Conduct and Regulation | Standards of conduct, fiduciary duty and the regulatory environment |
|---|---|
| General Principles of Financial Planning | The planning process, cash flow, debt and the client relationship |
| Risk Management, Investment and Tax Planning | Insurance, portfolio construction and tax-aware planning |
| Retirement and Estate Planning | Retirement savings, income strategies and transferring wealth |
| Psychology of Financial Planning | Client behaviour, communication and counselling principles |
Realistic study time
- Working adviser with some background ~250 hours over 4-6 months on top of the required coursework
- Common candidate guidance Several hundred hours of dedicated review beyond the education program
Bars show relative effort, not a guarantee. Your time depends on background and study method.
Turn this into a week-by-week schedule with the Study Plan Generator.
What it really costs
Fees change and vary by region. Confirm the current amount on the official site before you register.
Want your full out-of-pocket figure? Try the Cost Calculator.
Salary & career value
Indicative ranges for orientation only - not surveyed data, and not financial or career advice. Sources and date below.
CFP professionals work in financial planning and advice, where pay varies widely by role, region, client base and whether compensation includes fees or commissions. The bands below are indicative for planning-oriented roles in the US, not precise figures, and senior or fee-heavy practices can sit well above them.
Pass rate: Recently around 62-68% per exam (CFP Board publishes each sitting), with a recent average near 65%.
Indicative annual pay (USD), each role's typical band on a shared scale.
Other markets (indicative)
| United States | ~$80k-180k |
|---|---|
| Canada | ~CA$60k-120k |
| Australia | ~A$80k-140k |
Jobs that often ask for it:
- Financial Planner / Adviser
- Wealth Manager
- Retirement Planning Specialist
- Estate / Insurance Planning Adviser
- Paraplanner
Is it worth it?
For people committed to personal financial planning and advice, the CFP is the benchmark credential in the US and is closely tied to acting in a client's best interest. It is a real commitment: a registered education program, thousands of hours of experience, a tough exam and an ethics review. It is less relevant if your goal is investment analysis or asset management, where the CFA fits better, or pure accounting, where the CPA does.
Not sure this is the right exam for you? Compare your options with the Exam Finder.
Compare CFP with other exams
Independent, like-for-like comparisons to help you choose the right one.
What to do next
Confirm which education pathway and experience route fit your situation with CFP Board, then plan the exam around your registered coursework. If you are weighing investment versus planning careers, compare the CFP with the CFA before committing.
On exam day
At Prometric test centres in scheduled windows. The exam is computer-based and split into two sections of about 180 minutes each (roughly six hours of testing), with a scheduled optional break of up to about 40 minutes between them. Strict ID rules apply and only an approved calculator is permitted.
Keeping your certification
Certification is maintained, not renewed once: every two years you complete 30 hours of continuing education (CPE), including 2 hours of Ethics, and reaffirm adherence to CFP Board's Code of Ethics and Standards of Conduct.
FAQ
- What does CFP stand for?
- Certified Financial Planner. It is a certification for personal financial planning, administered in the United States by CFP Board.
- Is the CFP harder than the CFA?
- They are different, not simply easier or harder. The CFP is one demanding exam plus education, experience and ethics requirements, focused on personal financial planning. The CFA is three exams focused on investment analysis. CFP Board does not publish a CFP passing percentage.
- What is the difference between a CFP and a CFA?
- A CFP plans a person's whole financial life: cash flow, insurance, tax, retirement and estate planning, with a strong duty to the client. A CFA specialises in investment analysis and portfolio management. Choose by the work you want to do, not by prestige.
- What are the requirements to become a CFP?
- CFP Board's four components: complete a registered education program (plus a capstone plan course), pass the exam, meet the experience requirement (6,000 hours standard or 4,000 hours apprenticeship), and pass the ethics and background review. A bachelor's degree is required and can be finished within five years of passing the exam.
- How long is the CFP exam?
- It is computer-based and split into two sections of about three hours each - roughly six hours of testing - with a scheduled optional break of up to about 40 minutes in between.
- What is the CFP passing score?
- CFP Board does not publish a passing score or a fixed percentage. Results are reported as pass or fail, with the standard set through a formal standard-setting process.
- How much does the CFP exam cost?
- Approximately US$925 for the standard window, with a lower early fee (~US$825) and a higher late fee (~US$1,025). These are approximate; confirm current fees with CFP Board. Education and other requirements have separate costs.
- How do I keep my CFP certification?
- Maintain it with 30 hours of continuing education (CPE) every two years, including 2 hours of Ethics, and by continuing to meet CFP Board's ethics standards.
Related exams
- CFA Level I (CFA Institute) - CFA Institute
- US CPA (AICPA) - AICPA & CIMA (NASBA)
- CAIA (CAIA Association) - CAIA Association
- FRM (GARP) - GARP (Global Association of Risk Professionals)