Needless to mention, there is a massive requirement for financial planners in the country. Given that more than 2crore investors have put their money in various mutual funds as well as equity markets, India desperately requires a huge number of financial planners to cater to their exact needs and provide them with adequate financial consulting. This is exactly why a number of organizations offer certified financial planner exams for candidates looking to carve their careers in the field of financial management and consulting. Here, learn more about the CFP Certification and mock test preparations.
The CFP Certification
The Certified Financial Planner Certification is granted to candidates who successfully match the strict requirements of examination, education, ethics and experience. The course that can be easily pursued after class 12th is recognized in as many as 26 nations around the globe.
The CFP mock tests are conducted on the basis of the syllabus provided by the Financial Planning Standards Board India or the FPSB. As far as the CFP Certification examinations are concerned, it features questions on five different categories of finance including investment, retirement, tax, insurance and estate planning. The exam is almost seven hours long and is divided into two 3 hour sessions along with a break of 40 minutes in between. During that time, candidates are required to answer as many as 170 MCQs or (Multiple Choice Questions), in addition to many short as well as in-depth case studies. The case studies enable students to display their understanding of the CFP Study Materials as well as apply the same to real world situations.
How to Prepare for the CFP Exam?
In order to pass the CFP exams, students must emphasize on memorizing all the key concepts. Students are not only required to go through the CFP Study Materials, but should also aim to achieve the highest grade or percentage possible. Many students who appear for the CFP Certification exam enrol in review courses. These review courses are offered by experienced instructors who provide inside tips to students. In addition to this, they also provide information about the amount of weight that would be given to every section of the CFP examination. This helps students in preparing well for the examination. Students who are looking to pass the CFP Certification exam with flying colours can also take CFP Mock Test to better prepare for the exam. During the mock test, students should aim at answering every single question as there is no negative marking for the exam. Apart from this, they should go by their gut instinct and stick to their first response for multiple choice questions. It is equally important that students study the entire curriculum, especially the section on taxes, since that is extremely difficult to understand as well as apply.
Candidates who wish to become a CFP must go through all the topics provided in the CFP Study materials. They must memorize the concepts and use their knowledge and gut instinct to score high marks in the examination. Also, appearing for a CFP Mock test can help students in analysing whether they are fully prepared to face the final CFP Certification exam or not.