Close to 75 per cent of candidates pass financial planning exam
Professional body FP Canada says 110 candidates wrote the first ever Qualified Associate Financial Planner (QAFP) exam when the inaugural sitting of the exam was held back in November 2020. The overall pass rate for participants was 74.6 per cent.
The QAFP certification first launched back in January 2020, replacing the Financial Planning Standards Council (FPSC) Level 1 certification. All current FPSC Level 1 certificate holders became QAFP professionals at that time. To obtain the QAFP certification today, candidates must complete a series of education requirements, pass a national exam and have at least one year of qualifying work experience.
“For the first time, FP Canada offered candidates the choice of writing the exam at a test centre or at home through online proctoring,” FP Canada said in a statement, adding that more than 75 per cent of the candidates who wrote the exam chose to write it at home with online proctoring.
“Kudos to the candidates who displayed exceptional dedication and focus to prepare for and challenge the November QAFP exam, in spite of all the unprecedented challenges,” says FP Canada’s president and CEO, Cary List.
FP Canada says it will administer two QAFP exams in 2021 and will continue to offer the choice between in-person or online proctoring. Full results from the November 2020 sitting of the Certified Financial Planner (CFP) exam, meanwhile, will be published February 17.