FPSC announces June exam results

The Financial Planning Standards Council has announced the results of the June 2010 examination for the Certified Financial Planner designation. Of the 2,208 individuals who wrote the exam, 45.5% passed.

Those who were taking the exam for the first time had an even higher pass-rate, at 50.2%.

“The June administration had the highest number of exam candidates in the history of the CFP Examination,” said John Wickett, senior vice-president, standards and certification, FPSC. “These record numbers demonstrate that, in light of the recent economic climate, CFP certification is as important now as ever before.

Passing the exam alone is just one step in the CFP program, as candidates must also complete pre-requisite education, have relevant work experience, and follow the Code of Ethics on an ongoing basis.

“FPSC congratulates the successful CFP Examination candidates, who are now one step closer to joining the almost 18,000 CFP professionals in Canada, and 126,000 CFP professionals worldwide.” said Wickett.

This was the last exam of its kind, as the FPSC changed the path to gaining the CFP designation on July 1, 2010. Since then, the education component includes a new Capstone Course and a new two-staged examination process.

That two-stage exam — consisting of Financial Planning Examination Level 1 and Level 2 — replaces the single six-hour CFP Examination.

“The new certification program allows candidates to demonstrate their competence in incremental steps, and now includes a Capstone Course that requires each student to develop a comprehensive financial plan that meets FPSC’s standards,” said Wickett.

To view the complete Certification Guidelines, click here.

(07/26/10)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.