The number of candidates writing the exam for FP Canada’s qualified associate financial planner (QAFP) designation continues to dwindle.
Only 25 people wrote the most recent QAFP exam, in February.
With exam accessibility in mind, “we decided to offer the February QAFP exam administration even though it was a smaller cohort than usual,” Tashia Batstone, president and CEO of FP Canada, said in a release on Thursday. “We wanted to give candidates on the path to certification the earliest opportunity to attempt the exam.”
The number of QAFP exam writers has been falling since a two-year post-secondary diploma became a prerequisite for the designation, beginning on April 1, 2022. (For the certified financial planner designation, a bachelor’s degree became a prerequisite at that time.)
In part reflecting strong demand ahead of the prerequisite taking effect, as FP Canada previously noted, 384 people wrote the QAFP exam in February last year. That turnout was followed by 186 in May, and 69 in October.
The next QAFP exam is on June 1, and when asked if exams could be cancelled if numbers are low, FP Canada said in an emailed statement, “In light of our ongoing efforts to make our exams accessible and recognizing the importance of candidates being able to complete their certification in a timely manner, FP Canada makes every effort to deliver exams as scheduled.”
At the February sitting of 25 people, the pass rate was 68%, the release said.