Results Released for FPSC Level 1 Examination in Financial Planning and CFP Examination
December 2017 saw a record number of candidates sit for the CFP® examination
TORONTO, ON – January 19, 2018 – Financial Planning Standards Council (FPSC) has released results for the December sitting of the FPSC Level 1® Examination in Financial Planning and the CFP examination, which took place at more than 40 locations across Canada on December 1, 2017. A total of 1,015 candidates wrote the exams, which are required steps along the path to obtaining FPSC Level 1 Certification in Financial Planning or CFP certification.
The FPSC Level 1 examination, the first exam on the path to CFP certification and a requirement for FPSC Level 1 certification, was written by 542 candidates, with an overall pass rate of 69 percent. Of the candidates who wrote the exam, 439 were first-time writers (72 percent pass rate), while 103 were reattempting the exam (53 percent pass rate). To qualify to write the four-hour multiple-choice exam, candidates must have successfully completed an FPSC-Approved Core Curriculum program.
The CFP examination, the final exam on the path to CFP certification, was written by a record 473 candidates—the highest number since 2010, when FPSC implemented enhanced requirements to the CFP certification program, including a two-stage exam, an FPSC-Approved Capstone Course and a three-year work experience requirement.
The overall pass rate on the CFP examination was 64 percent. Of the candidates who wrote the exam, 329 were first-time writers (73 percent pass rate), while 144 were reattempting the exam (43 percent pass rate). To qualify to write the six-hour exam, which consists of a combination of constructed-response and multiple-choice questions, candidates must have obtained FPSC Level 1 certification and successfully completed an FPSC-Approved Capstone Course.
“We are pleased to see such a large the number of candidates seeking Certified Financial Planner® certification―which represents the highest level of knowledge, skills and abilities in the financial planning profession,” says FPSC President and CEO Cary List.
Following the completion of three years of qualifying financial planning work experience, successful CFP examination candidates are eligible to apply for CFP certification, the only globally recognized mark of professionalism for financial planning. There are approximately 16,500 Certified Financial Planner professionals across Canada, part of a global community of more than 170,000 CFP professionals in 26 territories around the world.
FPSC examinations are offered twice per year. The next sitting of the FPSC Level 1 examination will take place on May 31 and the next CFP examination on June 1. Candidates can register on their FPSC Portal at online.fpsc.ca.
More information about the path to certification is available at fpsc.ca/beaplanner.
About Financial Planning Standards Council
A professional standards-setting and certification body working in the public interest, FPSC’s purpose is to drive value and instill confidence in financial planning. FPSC ensures those it certifies―Certified Financial Planner® professionals and FPSC Level 1® Certificants in Financial Planning―meet appropriate standards of competence and professionalism through rigorous requirements of education, examination, experience and ethics. With FPSC’s formal partnership with the Institut québécois de planification financière (IQPF), which is the only organization authorized to certify Financial Planners in Québec, there are more than 23,500 Financial Planners in Canada who have met, and continue to meet, FPSC’s standards. More information is available at FPSC.ca and FinancialPlanningForCanadians.ca.
For more information, please contact:
Financial Planning Standards Council
416.593.8587, ext. 232 or 1.800.305.9886