Updated Thursday, August 28, 2014 as of 11:17 PM ET

CFP Board Moving to Shorter, Computer-Based Exams

No more day-and-a-half long exams for CFP test takers.

Get access to this article and thousands more...

All On Wall Street articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.

Already Registered?

Comments (10)
I find value in this approach. I am a CPA and expect to sit for the /PFS this year. The 'CFP' intrigues me and I will watch how this unfolds. Thanks for info Andrew.
Posted by Bruce B | Friday, January 10 2014 at 5:36PM ET
Having recently taken a certification exam and discovered that paper exams still existed, I'm not sorry to see another go the way of the dodo. I am surprised that there are still two scheduled paper exams before the switch- I have trouble understanding why people would not simply wait 6 months to take the 6 hours exam that is the same difficulty as the 10 hours exam. That seems like a pretty easy decision to me.
Posted by Bryce C | Friday, January 10 2014 at 5:50PM ET
As a CFP it is disturbing to me that in order to get more people interested they are shortening the test by 40%, allowing it to be done online and giving instant feedback on whether you probably passed the test (with final confirmation within two weeks). To say that this testing process is not considerably easier is laughable. It appears they have to make it easier to get people interested. It is supposed to be a hard learning and testing process and the mark of CFP will be lessened in my mind for people who pass under the new process. It appears to be more about money than the right thing to do for the mark of CFP in the planning world. Very disappointed...
Mark H
Posted by Mark H | Tuesday, January 14 2014 at 3:45PM ET
the unfortunate issue is that the cfp board and staff have no clue or idea why the number of exam takers is the least in 13 years.
instead of rigorous study to determine why,they think this will increase demand. this is the same wrongheaded thinking that led them to think the more registered programs the more exam takers.

failure to acknowledge that until a planner needs the cfp to make a living
or until the board really promotes the marks nothing will change. they are in desperate need of new leadership.
Posted by mike d | Tuesday, January 14 2014 at 7:30PM ET
As one of the graduates mentioned in the article, I haven't taken the CFP exam because it hasn't been necessary for my practice. After finishing the required courses in 2008, I went on to complete a Master's in financial planning. For me, a CFP designation is a lesser designation compared to my M.S. That's why, though I've been eligible to sit for the CFP exam for 5 yrs, I have yet to take it. And in a small community like mine, obtaining the CFP designation is not going to increase my business or make me more noticeable in any way (except for my own self-promotion).
Posted by Thomas D | Wednesday, January 15 2014 at 3:34PM ET
Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

Already a subscriber? Log in here