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Education Certified Financial Planning

Certified Financial Planning

The voluntary certification is meant for students looking to make a career in financial planning profession, professionals working in the banking and financial services industry and advisors.
Team Cafemutual Oct 9, 2015

Who should appear for this certification?

This certificate is meant for financial services professionals, customer relationship officers, insurance agents, mutual fund advisors and those looking to make their career in the financial services industry.

Which institute conducts the test?

The certificate is given by Financial Planning Standards Boards India (FBSB).

How can you register for this test?

There are two pathways for achieving the CFP certification - Regular and Challenge Status.

Regular Pathway:  If you choose self-study mode, you need to register with FBSB. However, if you opt for education partner route, you need to additionally register with one of FPSB authorized education partners. These partners are educational institutes approved by FBSB which provide training for CFP. To see the list of education partners, click here.

Challenge status: The challenge status route is for professionals who already possess certain proficiency which is expected from financial planners. A candidate must be a CA/Intermediate level, CFA (US), ICWA, CAIIB, CS, LLB, PhD, M.Phil, PG, Licentiate/Associate/ Fellowship of Life Insurance, Actuary, FFSI & FLMI from LOMA, Civil Service Examinations by UPSC. A candidate applying for the Challenge Status pathway needs to appear only for the final examination (Exam 5). In addition, you must also have a minimum work experience of 3 years with a financial services organization or a minimum work experience of 5 years in case of self-employed in the financial services industry.

How to enrol for the examination?

After registering with FBSB, you also need to register on the NSE website and obtain a NCFM number.

What does the program cover?

  • Risk Analysis & Insurance Planning (Exam 1)
  • Retirement planning and employee benefits (Exam 2)
  • Investment Planning (Exam 3)
  • Tax planning & estate planning (Exam 4)
  • Advance financial planning (Exam 5)

You can appear exams 1-4 in any sequence but exam 5 can only be attempted once you have successfully cleared the exams 1-4. To see the test curriculum, click here.

What is the fee structure?

 

Student registration fee

Rs.12,000 + service tax (Rs.13, 680) valid for one year.

Education program fee

Every education partner has its own fee structure ranging from Rs.10,000 to Rs. 1 lakh  

Exam 1-4 fee: 

Rs.2,500 + service tax (Rs.2,850) per exam per attempt

Exam 5 fee: 

Rs.6,000 + service tax (Rs.6,840) per attempt

CFP renewal fee:

Rs.6,000 + service tax (Rs.6,840)

For Challenge Pathway status:

FPSB India      

Rs.23,000

Education Partner

Rs.23,000

EP - Reliance MF Special Offer

Rs.12,000

IIBF-Advanced Wealth Management Course

Rs.12,000

Charter Member

Rs.12,000

 

Where are the tests conducted?

These tests are conducted daily at 30 NSE centres from Monday to Saturday.

Some key facts about the exam

 

No of questions

77 questions of 1,2,3,4 marks for tests 1-4 and 15 questions of 2,3,4 and 5 marks in test 5

Maximum marks to pass

150 for tests 1-4 and 50 for Exam 5

Duration

120 minutes for tests 1-4 and 240 minutes for Exam 5

Certificate Validity

1 year. The certificate needs to be renewed every year.

Passing Score

50% for all the 5 modules. No negative marking.

Website URL

http://www.fpsbindia.org/

 

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