WASHINGTON, DC, October 2, 2008 – Certified Financial Planner Board of Standards, Inc. today announced that 54 percent of the 2,249 individuals who sat for the July 18-19 2008 CFP® Certification Examination passed. The CFP Board-administered, 10-hour, two-day exam was conducted at 50 sites nationwide.
Since 1995, when the exam was modified to its current comprehensive format, 76,325 candidates have sat for the exam and 43,889 have passed either on their first try or on subsequent attempts. The cumulative pass rate is 57 percent.
The exam covers nearly 100 topics based on periodic studies of the job knowledge necessary to practice financial planning. CFP Board's CFP® Certification Examination requires full integration of knowledge covered in CFP Board's financial planning topic list, similar in concept to the bar examination for licensed attorneys and the exam for licensed CPAs.
The next CFP® Certification Examination will be held November 21 and 22. Candidates must qualify to sit for the exam by meeting CFP Board's education coursework requirement. The deadline for completed applications is October 8.
The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP Board currently authorizes more than 58,000 individuals to use these marks in the United States.
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CFP® - The Recognized Standard of Excellence in Personal Financial Planning
Chris Wloszczyna, Director of Public Relations