EXAM CONTENT
HOW WE DEVELOP THE CFP® EXAM
To develop CFP® exam content that reflects the current practice of financial planning, CFP Board regularly conducts a Practice Analysis Studyto identify the important tasks performed by planners and assess the knowledge and skills needed to perform these tasks. It is the largest research project in the U.S. related to the body of knowledge for financial planning, incorporates a multi-method approach and is led by testing experts to assure the exam remains current, reliable, valid and legally defensible.
CFP Board also works with volunteer CFP® professionals to develop the exam. These volunteers include Subject Matter Experts (SMEs) who serve as item writers and reviewers, as well as members of the Council on Examinations, which is made up of SMEs with considerable experience with the CFP® exam who provide final review and approval of all exam questions.
The criterion for passing the CFP® exam is established through a process known as Standard Setting, during which CFP® professionals determine the minimal competency level required to pass the exam. CFP Board does not predetermine the pass rate for the exam or have an established percentage of questions that must be answered correctly to pass.
