Successful completion of the Applied
Financial Planning (AFP) Certification Examination is required prior to
becoming certified as a Personal Financial Planner (PFP®).
The Applied Financial Planning (AFP) Certification Examination is an
important and necessary step to become certified as a Personal Financial
Planner (PFP®). Coupled with an experience requirement, it represents
the final hurdle for candidates to complete the certification
requirements for CSI's PFP® designation.
Eligibility Criteria
The AFP Certification Examination consists of two separate examinations
where the candidate must successfully complete both examinations to
eligible to apply for the PFP® certification. The examinations are open
to any candidate who has completed an approved education path.
Candidates have up to three hours to complete each of AFP Exam 1 and AFP
Exam 2, which are attempted separately. The AFP Exam 1 examination is a
multiple-choice examination of 100 questions; AFP Exam 2 contains a
case study with eight to ten questions and sub-questions where
candidates must provide a written response to open-ended questions
(constructed-response questions). AFP Exam 1 and AFP Exam 2 assess the
required knowledge, skills and attributes to practice, and the
candidate's ability to apply the professional competencies as set out in
the PFP® Professional Competency Profile.
Who Should Enrol
Anyone who has completed the education path may enrol, but we encourage
individuals to self-assess against the following to determine if the
AFP Certification Examination is appropriate for you. Enrol in the AFP
if you meet the eligibility criteria and:
are proficient in financial planning for individuals; or,
offer financial planning services for some clients; or,
are on the career path or currently practice as a financial planner; or,
understand and are able to apply the financial planning competencies as set out in the PFP® Professional Competency Profile.
Although not a requirement to attempt the AFP Certification
Examination, candidates should recognize that experience serving clients
in personal financial planning situations may prove beneficial when
attempting the examinations. Specifically, questions on the examinations
may present situations that require in-depth analysis, evaluation and
integration across the various aspects of financial planning to
formulate a response; formulating such responses can be aided by
real-life experience. Candidates should carefully self-assess to
determine if they possess the skills necessary for success on the AFP
Certification Examination and if their success could be enhanced by
experience in the field.
PFP® Professional Competency Profile.
The PFP® Professional Competency Profile sets out the professional
competencies required of a competent financial planner and provides a
link to the pre-requisite professional knowledge and skills that are
required in order to perform these competencies.
The AFP
Certification Examination is designed to assess the competent
performance of professionals in the field. Candidates should assess
their own knowledge, skills and attributes against the competencies and
related knowledge included in the Competency Profile to determine their
appropriateness and readiness to write the examinations. Candidates are
expected to demonstrate these competencies on the AFP Certification
Examinations through a variety of questions and client scenarios. The
nine core competencies in the profile are:
Develop a professional relationship with clients based on trust and credibility
Analyze qualitative information required to create financial recommendations
Analyze quantitative information required to create a financial plan
Formulate financial planning strategies and recommendations
Prepare financial planning recommendations
Finalize the financial plan with the client
Implement financial planning solutions
Monitor the results of the financial plan
Update the financial plan as required
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