CFP Board Opens Registration for Computer-Based Testing Format of CFP® Certification Examination, Offers Practice Exams

Certified Financial Planner Board of Standards, Inc. announced today it has opened registration for its November 2014 CFP® certification examination, the first to be administered in a computer-based testing (CBT) format. 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 5-day testing window of November 18-22. Prometric, a leading provider in testing services, is serving as CFP Board’s partner in administering the CFP® certification examination. 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. “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 CERTIFIED FINANCIAL PLANNER® certification.”

The exam is comprised of 170 multiple-choice questions administered in a single day over two, 3-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. More on the benefits of the transition to CBT can be found here on the CBT Frequently Asked Questions page.

In addition, CFP Board has developed two, 50-question practice exams, comprised 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 examination.

“On exam day, CFP® exam-takers want to walk into their testing site feeling well-prepared and confident,” said Warholic. “The CFP® practice exams are a unique and effective study tool that will give them a good sense of what to expect.”

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.

The CFP® certification examination is just one of several requirements that need to be met in order to become a CFP® professional. In addition to passing the exam, candidates also must meet CFP Board’s experience requirements, pass a background check, have a Bachelor’s degree (or higher) and successfully complete a college-level program of study in personal financial planning. 

The final paper-based exam will be administered in July (July 18-19, 2014). Future CFP® exams will be administered in 5-day testing windows annually in March, July and November.