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- Where Are We Headed? The ultimate compliance goal is to help ensure that everyone associated with an advisory firm acts ethically at all times. Advisors and RIAs should do the right thing, even when regulators are not looking over their shoulders.
- Pay-to-Play Rule Violating the pay-to-play rule can result in serious consequences, and RIAs should adopt robust policies and procedures to prevent and detect contributions made to influence the selection of the firm by a government entity.
The Certified Financial Planner Board of Standards announced Thursday that registration for its November CFP certification examination via computer-based testing is now open.
The November exam will be the first to be administered in a computer-based testing (CBT) format, CFP Board said.
The Board said that it is also offering two 50-question practice exams to help CFP exam candidates better prepare for the test.
The November CFP exam will be administered during a five-day testing window from Nov. 18 to 22. The final paper-based exam will be administered from July 18 to 19.
Testing service provider Prometric is serving as CFP Board’s partner in administering the certification exam. Candidates can schedule their test date and select their testing location from Prometric’s network of testing sites, which includes more than 265 locations in the U.S. CFP certification examination candidates can apply for the exam at CFP.net/exam.
“The transition from paper-based to computer-based testing for the CFP certification examination significantly enhances the candidate experience, most importantly, access to an expanded number of testing dates and sites to choose from in comparison to the current 50 sites,” said Michele Warholic, CFP Board’s managing director for Examination, Education and Talent, in a statement. “CFP Board is confident that the improved experience for test-takers will not adversely affect the rigorous standards which the CFP examination has measured on the path” to CFP certification.
The exam consists of 170 multiple-choice questions administered in a single day over two, three-hour sessions separated by a scheduled 30-minute break. Preliminary exam results are provided to candidates upon completion of the exam at the testing site, with results verified by CFP Board within three weeks following the end of the exam testing window.
CFP Board says that the practice exams consist of authentic questions that have been retired from previous CFP exams. The CFP practice exams are accessible online and cover the full range of topic areas included in the current CFP certification exam.
“The CFP practice exams are a unique and effective study tool that will give them a good sense of what to expect,” Warholic said.
Practice exam-takers will have the option to highlight portions of the questions, mark questions for later review, explore correct answers and rationales, and employ a time clock for realistic practice. Instantaneous feedback will be provided, with identification of missed questions. The two practice exams can be purchased individually for $99 each, or as a bundle for $149 here.
Check out CFP Board Says New Ads, Exam Format Part of Membership Push on ThinkAdvisor.