Do You Require CFP Study Material?

Are you one of those who are interested in making a solid career in the financial world? If you are, you may be required to appear for various certifications in order to pursue the financial career that you have chosen. Many of those who are interested in the field of finance are aspiring financial planners. These people are generally required to appear for the CFP Boards, which after successfully passing get the professional certification mark i.e. the Certified Financial Planner (CFP) designation to become a financial planner.

In order to earn this highly qualified certification, a person is required to meet several requirements. The first of all the requirements would be their educational degree which is often a bachelor’s degree or an equivalent in a certain discipline. However, this bachelor’s degree can also be pursued and completed even after passing the CFP exam (which is within five years). It is not an essential requirement to be eligible for taking the CFP Certification.

One can get CFP study material for introduction to financial planning by downloading the necessary study material online. There is also the option to choose the ‘self-study’ option where a person can choose the courseware and study material of his/her choice. They can choose the best courseware (computer programs or other material designed for use in an educational or training course) of a particular vendor, web support, training, best interactive online classroom facility, etc. in order to complete the education criterion in an extremely cost-effective manner. 

It is also possible to purchase different books such as Kaplan Review for the CFP Certification Examination or the Dalton Review for the CFP examination. A person can easily browse through the contents of these books before they decide to purchase them (if need be).

The first step to the present CFP certification criteria is to master a list of 100 topics which are based on integrated financial planning. The curriculum has to be equivalent of 18 semester credit hours. The exam is a 10-hour multiple choice exam which contains 285 questions.

However, as effective from November, 2014 the test will be converted from a paper-based test to a computer-based test. The test will also be cut down to include only 170 questions that have to be taken in a 6-hour testing period. This testing period can be divided into two three hour segments with a 30-minute break. This is a 40 percent reduction from the prior exam length and duration. In order to pass this exam, which is the next step, it is necessary for one to obtain anything from a low of 42% to a high of 66%.

However, it is very important for the candidate to demonstrate his/her experience working in the field of financial planning. Other than passing the exam, the candidate also has to meet one or more of the six primary elements of financial planning. He/she must also have completed three years of full-time work experience in the financial planning field, two years of full-time experience under the ‘Apprentice Experience’ option and be approved by the CFP Board during initial certification.