CFP Board
CFP Exam
Certified Financial Planner Certification Examination
The capstone exam for the CFP mark, the leading credential for personal financial planners in the US. Tests the ability to apply planning knowledge across insurance, investments, tax, retirement, and estate planning.
Full program: 8 decks, 1,075 cards.
What's on the exam
CFP Board Principal Knowledge Domains (2021 Practice Analysis)
Professional Conduct and Regulation
8%Code of Ethics and Standards of Conduct · Fiduciary duty · CFP Board disciplinary procedures · Financial services regulation · Consumer protection laws
General Principles of Financial Planning
15%Financial planning process · Cash flow and debt management · Time value of money · Education planning and funding · Economic concepts
Risk Management and Insurance Planning
11%Insurance needs analysis · Life insurance · Disability and long-term care insurance · Health insurance · Property and casualty insurance · Annuities
Investment Planning
17%Investment vehicles · Measures of risk and return · Asset allocation and portfolio construction · Bond and stock valuation · Investment strategies
Tax Planning
14%Income tax fundamentals · Taxation of business entities · Tax reduction and management techniques · Property transactions · Alternative minimum tax
Retirement Savings and Income Planning
18%Retirement needs analysis · Qualified plans · IRAs and Roth accounts · Social Security and Medicare · Distribution rules and strategies
Estate Planning
10%Property titling and transfer · Gift and estate taxation · Trusts · Marital deduction strategies · Charitable transfers
Psychology of Financial Planning
7%Client and planner attitudes, values and biases · Behavioral finance · Sources of money conflict · Counseling and communication techniques · Crisis events with severe consequences
Frequently asked questions
How much does the CFP Exam cost?
The CFP Exam costs $925. Standard registration rate; early registration is $825 and late registration is $1,025.
How long is the CFP Exam and how many questions does it have?
170 multiple-choice items — Two 3-hour sessions in one day.
What do you need to pass the CFP Exam?
Pass/fail; criterion-referenced minimum competency standard.
Can you retake the CFP Exam?
May retake in a later window; limited to 3 attempts within 24 months and 5 lifetime attempts.
What is the best way to study for the CFP Exam?
Start from the official outline and your primary study materials: the exam is weighted by domain (Professional Conduct and Regulation 8%, General Principles of Financial Planning 15%, Risk Management and Insurance Planning 11%, Investment Planning 17%, Tax Planning 14%, Retirement Savings and Income Planning 18%, Estate Planning 10%, Psychology of Financial Planning 7%). Once you've learned the material, spaced-repetition flashcards organized by those domains are an efficient way to retain it and refresh it before test day.
Ready to prepare?
Our CFP — Certified Financial Planner program is organized by this outline's domains and scheduled by spaced repetition, with a path from first card to test day.
Flashcards are a memory tool. Learn the material first, then use NoReread to retain it and refresh what you already know. It doesn't replace studying the subject.