Who should appear for this certification?
This certificate is meant for financial services professionals, customer relationship officers, insurance agents, mutual fund advisers 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 centers 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/ |
Source
:Team DharniGroup