Record number of candidates sit for CFP examBy The IJ Staff | January 22 2018 09:45AM
The Financial Planning Standards Council (FPSC) has released results for the December sitting of the FPSC Level 1 Examination in Financial Planning and the CFP examination. The exams are required steps along the path to obtaining FPSC Level 1 Certification in Financial Planning or CFP certification.
The exams took place at more than 40 locations across Canada on Dec. 1, 2017. A total of 1,015 candidates wrote the exams.
The CFP examination, the final exam on the path to CFP certification, was written by a record 473 candidates. This was the highest number since 2010, when FPSC implemented enhanced requirements to the CFP certification program, including a two-stage exam, an FPSC-Approved Capstone Course and a three-year work experience requirement.
The overall pass rate on the CFP examination was 64 per cent. Of the candidates who wrote the exam, 329 were first-time writers (73 per cent pass rate), while 144 were reattempting the exam (43 per cent pass rate). To qualify to write the six-hour exam, which consists of a combination of constructed-response and multiple-choice questions, candidates must have obtained FPSC Level 1 certification and successfully completed an FPSC-Approved Capstone Course.
Pass rate of 69 percent
The FPSC Level 1 Examination, the first exam on the path to CFP certification and a requirement for FPSC Level 1 certification, was written by 542 candidates, with an overall pass rate of 69 percent.
Of the candidates who wrote the exam, 439 were first-time writers and had a 72 per cent pass rate.), while 103 were reattempting the exam and had a 53 per cent pass rate.
Offered twice per year
FPSC examinations are offered twice per year. The next sitting of the FPSC Level 1 examination will take place on May 31 and the next CFP examination on June 1. Candidates can register at fpsc.ca.