A final-revision summary for the CFP exam. Study aid only - no notes in the proctored exam (an approved financial calculator is permitted).
The eight knowledge areas
Professional Conduct and Regulation · General Principles of Financial Planning · Risk Management and Insurance Planning · Investment Planning · Tax Planning · Retirement Savings and Income Planning · Estate Planning · Psychology of Financial Planning.
The 4 E’s (certification components)
| Component | What it means |
|---|---|
| Education | A CFP Board registered program plus a capstone financial plan course |
| Examination | The computer-based exam (170 questions, 85 per section) |
| Experience | 6,000 hours (Standard) or 4,000 hours (Apprenticeship) |
| Ethics | Background check and agreement to the Code and Standards |
Exam format at a glance
| Item | Detail |
|---|---|
| Delivery | Computer-based at Prometric centres |
| Sections | Two, about 180 minutes each (~6 hours total) |
| Break | Scheduled optional break of up to ~40 minutes between sections |
| Question types | Stand-alone, short scenario sets and longer case studies |
| Passing score | Not published; reported pass/fail via a standard-setting process |
CFP vs CFA (don’t confuse them)
The CFP plans a person’s whole financial life - insurance, tax, retirement, estate and the client relationship - with a strong duty to the client. The CFA specialises in investment analysis and portfolio management. Study the CFP as broad personal planning, not an investments exam.
Exam-day reminders
Two sections of mixed question types · master the approved calculator and time-value-of-money keystrokes · think in integrated cases, not isolated topics · know the planning process and conduct standards · manage time per item.