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Life Health > Running Your Business > Certification

Pass Rate and Turnout Grow for CFP Exam

By Melanie Waddell

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The Certified Financial Planner Board of Standards said Monday that the pass rate for the March 2024 CFP certification exam was 68%.

The exam, administered during a March 12-19 testing window to 3,683 candidates, broke last March’s record of 3,527 exam-takers, according to the CFP Board. The pass rate in March 2023 was 65%.

Kevin Keller, CEO of the CFP Board, said the “unprecedented turnout” for the March exam “reflects the recognition of CFP certification as the standard for competent, ethical financial planning.

“As more Americans seek trusted and qualified advisors, the value of CFP certification becomes increasingly evident.”

Based on the March exam results, the CFP Board said that it projects the total number of active CFP professionals will soon surpass 100,000 certificants in the United States, representing about one-third of retail financial advisors.

The March 2024 post-exam survey found that the top reason that exam-takers are pursuing CFP certification is to demonstrate expertise in their job (87%) and to distinguish themselves as a fiduciary (73%).

Of the exam-takers, “59% reported receiving some level of financial support from their employers during the CFP certification process,” the CFP Board said.

Registration for the CFP exam showed that 68% of March candidates are younger than and 37% are younger than 30.

The 10 states with the most exam-takers were California, Texas, Illinois, Florida, New York, Pennsylvania, North Carolina, Michigan, Colorado and Massachusetts, with 1,895 candidates from these states sitting for the exam, according to CFP Board.

July 2024 Exam

The CFP exam is offered three times annually, in March, July and November.

Registration for the July 2024 exam is now open, and it will be administered from July 9-16. The registration deadline is June 25, and the education verification deadline is June 18.

Testing appointments are scheduled on a first-come, first-served basis.

Melanie Waddell

@Think_MelanieW

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