FP Canada has announced the results of the October sitting of the Qualified Associate Financial Planner (QAFP) exam, held online and in testing centres across the country. It says 69 writers attempted the QAFP exam. The pass rate for first-time writers was 82.5 per cent.
FP Canada says to obtain QAFP certification, candidates must complete a two-year college diploma, complete FP Canada approved core curriculum and complete the institute’s Introduction to Professional Ethics course. Following this, candidates must obtain at least one year of qualifying work experience and pass the national exam. Continuing education after that point includes the completion of the QAFP Professional Education Program which focuses on planning, human behaviour, honesty and ethics. That educational component must be completed within one year of achieving certification.
According to FP Canada’s research, many are taking the programs and challenging the exam in response to title protection legislation, including Ontario’s Financial Professionals Title Protection Act. They say 33 per cent are also taking the exam to meet requirements set out by employers. Of the 69 writers who challenged the exam, 34 opted to take the exam remotely with online proctoring, while 35 attempted the exam at one of 15 FP Canada testing centres.