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Practice Management > Building Your Business

CFP Board Expands Remote Proctoring Option

By Jeff Berman

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What You Need to Know

  • The next CFP exam will be given July 6-13.
  • Nearly any candidate can opt to take the exam remotely or at a test location.
  • The remote proctoring changes also apply to the November exam.

The next CFP exam will be given July 6-13, and the Certified Financial Planner Board of Standards has expanded its remote proctoring option for it and the exam this fall.

Nearly any candidate now has the option to take the CFP exam either in person at a traditional brick-and-mortar Prometric test center or through a remote proctoring option for both the July  and November exam testing windows, the CFP Board said Wednesday.

Remote proctoring is an exam delivery method that allows candidates to take the CFP exam from home or a location of their choice.

However, CFP candidates must meet specific technology requirements for the remote option that are set by Prometric, it noted. The requirements are listed on Prometric’s website.

The security process and candidate check-in procedures are comparable to those at test centers and Prometric live proctors monitor the individual’s test session via audio and video throughout the duration of the exam. More details on registering for the exam are provided at CFP Board’s website.

The CFP Board expanded the remote proctoring option to more candidates because it “remains focused on the health and safety of candidates who wish to take the CFP exam,” according to Kevin R. Keller, its CEO.

The CFP Board first started offering the remote option to eligible candidates with the September 2020 exam that was originally scheduled for July 2020 but was postponed two months due to COVID-19, it noted.

However, to be eligible for the remote option before the upcoming July exam, in addition to the tech requirements, candidates would have had to live more than 50 miles from a Prometric testing center or have a health concern, CFP Board said in September.

During the March exam window, 2,686 candidates took the exam, resulting in a 63% pass rate, CFP Board said. A total of 7% of the March 2021 candidates tested remotely, it noted.

Registration to take the July exam is open through June 22. Registration to take the Nov. 2-9 exam opens July 15.

Candidates who opt to take the exam in person will find most Prometric testing centers are open, although some may be operating at reduced capacity. The CFP Board encouraged candidates to register early for the best date and site availability.

The exam, which tests the ability to apply financial planning knowledge to real-life situations, is one of the requirements for earning the CFP certification.

The exam is offered three times a year: in March, July and November. Exam topics include professional standards and regulation, general principles of financial planning, tax planning, retirement savings and income planning, estate planning, and risk management and insurance planning.

Jeff Berman

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