From the Guide to CFP® Certification:
"The CFP® Certification Examination assesses
your ability to apply your financial planning knowledge in
an integrated format, to financial planning situations. Combined
with the education and experience requirements, it assures
the public that you have met a level of competency appropriate
for professional practice. The Certification Examination has
been developed in accordance with procedures that ensure its
job-relatedness and content validity. The topics for examination
were developed by a task force that included equal representation
of practicing planners and financial planning educators. The
foundation for their work had been laid by a job analysis
conducted in 1987, 1994 and updated in 1999. The practicing
planners who participated in that analysis provided basic
information about the tasks performed by planners and the
knowledge required to perform those tasks."
If your goal is to become a CERTIFIED FINANCIAL PLANNERTM
professional, you must ultimately pass the Certification Examination.
This examination is administered three times a year by CFP
Board and includes questions from 101 CFP Board topics.
There are basically 4 ways to obtain help to study for
this exam.
The first way is to put together your "own review course"
from the materials in the 6 courses you have taken. As
long as the material from the 6 areas hasn't changed since
you took the 6 required courses, you took excellent notes
in these courses, you can stay on a schedule of studying for
the exam, and you don't have any additional questions while
studying for the exam -- you could probably do your own review
course.
The second way to review for the exam is to order "self-study
materials." The self-study materials that you purchase
are usually updated for the current exam and contain problems/answers
to work out. The draw back with the self-study method is twofold
-- you have to be very self-disciplined -- notice the word
"self" in the type of materials. In short, you are on your
own -- you have to do the studying, no one is going to be
there to help you or to see to it that you stay on task. The
second problem is you have no one to ask a question should
you run across something that you don't understand.
The third way to review for the exam is to attend a live-review
course. These courses are up to date for the current exam
and you have someone to ask questions of while the course
is going live. In addition you may have to do traveling and
miss time from work depending on the schedule of the live
review course. The problem here is twofold also. As soon as
the course is over - you are on your own -- no one to ask
questions of if you have a problem. Secondly, the information
is going to be crammed at you in a few days or weeks. There
is a lot of material on this exam and if you know the material
quite well -- then a live review would be good for you as
a way to go over the material prior to the exam.
The fourth way to review for the exam is to take an online
course with Hasselback Review.com. Our online review course
overcomes the problems with other types of review courses.