The Financial Planning Standards Council (FPSC) released on Aug. 1 the results for the most recent sittings of the FPSC Level 1 Examination in Financial Planning and the CFP examination, which took place at locations across Canada on May 31, 2018 and June 1, 2018, respectively.
A total of 934 candidates wrote the exams, which are required steps along the path to obtaining FPSC Level 1 certification or CFP certification.
The CFP examination, the final exam on the path to CFP certification, was written by 461 candidates and the overall pass rate was 63 percent. Of the candidates who wrote the exam, 343 were first-time writers (71 per cent pass rate), while 118 were reattempting the exam (37 per cent pass rate).
Following the completion of three years of qualifying financial planning work experience, successful CFP examination candidates are eligible to apply for CFP certification.
Overall pass rate of 73 per cent for FPSC Level 1 exam
The FPSC Level 1 examination, the first exam on the path to CFP certification and a requirement for FPSC Level 1 certification, was written by 473 candidates, with an overall pass rate of 73 per cent. Of the candidates who wrote the exam, 368 were first-time writers (78 per cent pass rate), while 105 were reattempting the exam (55 per cent pass rate).
“The CFP certification program is designed to ensure financial planners are able to effectively meet the needs of their clients, at the highest level. The examinations are an important step in evaluating candidates’ knowledge and skills,” says Damienne Lebrun-Reid, Managing Director, Standards at FPSC. “FPSC congratulates all successful exam candidates for their achievement in moving one step closer to CFP certification.”
FPSC examinations are offered twice per year. The next sitting of the FPSC Level 1 examination will take place on Nov. 29 and the next CFP examination will take place on Nov. 30. Candidates can register on their FPSC Portal at online.fpsc.ca.