- There were 406 candidates who wrote the CFP exam
- Among first-time writers, the pass rate was 80%
- A total of 81% of candidates wrote the CFP exam to enhance their skills and better serve their clients
TORONTO, Aug. 10, 2023 /CNW/ - FP Canada has released the results for the May sitting of the Certified Financial Planner® exam. There were 406 candidates who wrote the exam and, of those who were writing for the first-time, 80% passed.
FP Canada also conducted a survey to better understand the motivations of exam writers. The results reveal that 81% of candidates wrote the exam to enhance their skills and better serve their clients. A total of 36% were driven by the need to obtain a credential that would allow them to use the "financial planner" title under title protection legislation. Employer requirements were also a top motivator, with 33% of exam writers stating that those requirements were the reason they took the exam.
"Congratulations to all candidates who successfully challenged the CFP exam in May," said Tashia Batstone, President and CEO of FP Canada. "Earning Certified Financial Planner certification is a significant milestone – one that deserves to be celebrated."
The May CFP exam was administered via online proctoring, and at 38 in-person test centres across Canada. A total of 59% of candidates chose to write the exam through online proctoring, while 41% did so in person.
Certified Financial Planner certification is the only globally recognized mark of professional financial planning. To obtain certification, candidates must meet a series of education requirements, which include holding a postsecondary degree from an accredited college or university (at minimum); completing an FP Canada-approved Core Curriculum Program; completing an FP Canada-approved Advanced Curriculum Program; completing the FP Canada Institute™ Introduction to Professional Ethics course; and completing the CFP Professional Education Program, which focuses on the pillars of holistic financial planning, human behaviour, and honesty and ethics. They must also pass a rigorous national exam and complete at least three years of qualifying work experience.
Among other requirements, CFP professionals must adhere to the high professional standards established by the FP Canada Standards Council™ to maintain their certification.
Established in 1995, FP Canada is a national not-for-profit education, certification and professional oversight organization working in the public interest. FP Canada is dedicated to championing better financial wellness for all Canadians by leading the advancement of professional financial planning in Canada.
SOURCE FP Canada
Contact for media inquiries: Lee-Anne Goodman, FP Canada, [email protected]
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