More than 900 candidates across Canada wrote exams this spring on the path to Certified Financial Planner® certification
TORONTO, ON – August 1, 2018 – Financial Planning Standards Council (FPSC) has released results for the most recent sittings of the FPSC Level 1 Examination in Financial Planning and the CFP examination, which took place at locations across Canada on May 31, 2018 and June 1, 2018, respectively. A total of 934 candidates wrote the exams, which are required steps along the path to obtaining FPSC Level 1 certification 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 473 candidates, with an overall pass rate of 73 percent. Of the candidates who wrote the exam, 368 were first-time writers (78 percent pass rate), while 105 were reattempting the exam (55 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 461 candidates. The overall pass rate on the CFP examination was 63 percent. Of the candidates who wrote the exam, 343 were first-time writers (71 percent pass rate), while 118 were reattempting the exam (37 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.
“The CFP certification program is designed to ensure financial planners are able to effectively meet the needs of their clients, at the highest level. The examinations are an important step in evaluating candidates’ knowledge and skills,” says Damienne Lebrun-Reid, Managing Director, Standards at FPSC. “FPSC congratulates all successful exam candidates for their achievement in moving one step closer to CFP certification.”
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 professional financial planning. There are approximately 16,500 Certified Financial Planner professionals across Canada, part of a global community of more than 175,000 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 November 29 and the next CFP examination will take place on November 30. 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. There are more than 18,500 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