CFP exam attracts record number of candidates

More people are putting themselves to the test—the CFP test, that is.

A total of 1,015 candidates wrote FPSC exams in December, at more than 40 locations across Canada, says the Financial Planning Standards Council in a release.

Read: What’s the most useful designation you’ve gotten?

The CFP exam was written by a record 473 candidates—the highest number since 2010, when FPSC implemented enhanced requirements to the CFP certification program. In December, the CFP exam pass rate was 64%.

Of the candidates who wrote the exam, 329 were first-time writers (73% pass rate), and 144 were re-attempting the exam (43% pass rate).

The FPSC Level 1 exam was written by 542 candidates, with an overall pass rate of 69%. Of those who wrote the exam, 439 were first-time writers (72% pass rate), and 103 were re-attempting the exam (53% pass rate).

(The FPSC Level 1 exam is the first exam on the path to CFP certification and a requirement for FPSC Level 1 certification.)

There are about 16,500 CFPs across Canada, and more than 170,000 CFPs in 26 territories around the world.

FPSC exams are offered twice per year. The next sitting of the FPSC Level 1 is May 31, and the next CFP exam is June 1.

Also read:

Financial planners receive FPSC awards

Who recognizes the CFP credential

Evidence for rigorous KYC

Staff

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