FP Canada has released results for the most recent sittings of the FPSC Level 1 examination and the CFP examination. A total of 1,351 candidates wrote the exams which took place at various locations across Canada in June.
Six hundred and thirty-four candidates wrote the FPSC Level 1 examination. This includes 512 first-time writers and 122 candidates who were re-attempting the exam. Among first-time writers, the pass rate was 77% and among repeat writers, the pass rate was 50%, for an overall pass rate of 71%.
A record number of 717 candidates wrote the CFP examination. The CFP exam candidates included 513 first-time writers and 204 candidates who were re-attempting the exam. Among first-time writers, the pass rate was 68% and among repeat writers, the pass rate was 42%, for an overall pass rate of 61%.
“It is encouraging to see a growing number of candidates pursuing CFP certification, which represents the highest level of knowledge and skills in the financial planning profession,” says Cary List, President and CEO of FP Canada. “Congratulations to all successful exam candidates who are now one step closer to obtaining CFP certification.”
On Jan.1, 2020, FPSC Level 1 certification will be replaced by QAFP certification and all FPSC Level 1 certificants in good standing will automatically receive QAFP certification.
Effective Jan. 1, 2020, the requirements for obtaining CFP certification are also changing. Those wishing to attain CFP certification in 2020 and beyond will have the choice to pursue CFP certification directly, or to pursue QAFP certification first and continue their studies to complete CFP certification at a later date, explains FP Canada.
The next and final sitting of the FPSC Level 1 examination will take place on Nov. 28, and the next sitting of the CFP exam – the final sitting under the current certification path – will take place on Nov. 29.
To learn more about the certification changes, click here.