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    1. What is CFP Certification?
 
    2. Who should consider CFP Certification?
 
    3. What are the prospects of career in Financial Planning?
 
    4. How is it like working as a Financial Planner?
 
    5. What are the benefits of undergoing the CFP Certification Program and the CFP marks?
 
    6. How are Financial Planners paid?
 
    7. Who offers CFP Certification in India?
 
    8. What is FPSB India?
 
    9. Is CFP Certification a Global Certification?
 
    10. What is the cross border CFP marks use policy of FPSB Ltd.?
 
    11. What are 4Es Criteria for awarding CFP Certification?
 
    12. What is the Education Criterion?
 
    13. What is the Examination Criterion?
 
    14. What is the Experience Criterion?
 
    15. What is the Ethics Criterion?
 
    16. What does the CFP Certification Education Program offer?
 
    17. Which are the six modules under the CFP Certification Education Program and what is the nature of the curriculum?
 
    18. What are the modes available to facilitate completion of education?
 
    19. In what language will the exam be conducted?
 
    20. How do I pursue CFP Certification Program?
 
    21. What are the minimum qualifications required to register for the CFP Certification Program and what are the minimum requirements for being entitled to use the CFP marks and to be called as a CERTIFIED FINANCIAL PLANNERprofessional?
 
    22. How do I register through “Regular Pathway”?
 
    23. How do I register through “Challenge Status Pathway”?
 
    24. What are the routes and fee structure available under Challenge Status Pathway?
 
    25. How much does it cost to pursue and attain the CFP Certification under “Regular Pathway”?
 
    26. Does FPSB India contemplate any support structure for “self study”?
 
    27. How will “Self Study” work in a scenario of no boundaries and no formal support structure?
 
    28. Is loan facility available for undergoing CFP certification program?
 
    29. How do I select my Education partner?
 
    30. What are the renewal requirements of CFP Certification?
 
    31. What is AFP Certification?
 
    32. What’s the difference in terms of competence, training and scope of duty between an AFP and a CFP certificant?
 
    33. How soon can I complete CFP certification? What is the maximum period given to a candidate to complete the CFP Certification Program?
 
    34. What will I be tested on?
 
    35. What do I gain for immediate recognition when I pass the exam?
 
    36. What are the benefits of the CFP Certification?
 
    37. I might consider upgrading my status to that of a CFP certificant sometime in the future. Can I just maintain my AFP license in the meantime?
 
    38. What happens if I have not completed the CFP Certification Education Program even after 7 years?
 
    39. Are there any other courses or programs offered by FPSB India?
 
    40. I have successfully cleared all the CFP certification exam but do not possess relevant work experience of three years. Am I eligible for the CFP certification?
 
    41. What documents do I need to provide when I apply for CFP Certification?
 
    42. What is OCMS?
    43.How do I contact FPSB India for further information?
 
Question 1 : What is CFP Certification?
Answer :

CERTIFIED FINANCIAL PLANNER certification or CFPcertification is an international program in the field of Financial Planning, wealth management and financial advisory services.

Financial Planning is one of the fastest growing careers across the world. Being one of the fastest growing economies, India currently has around 5 crore families with investible surplus. Assuming one financial planner is handling approx. 1,000 clients we need at least 50,000 Certified Financial Planners in India immediately. This is set to grow at a faster rate. CFP certification was rated as Gold Standard in Financial Planning by the WALL STREET JOURNAL in the year 2006.

CERTIFIED FINANCIAL PLANNER certification or CFP Certification is a mark of excellence granted to individuals who meet the stringent standards of education, examination, experience and ethics. It is the most prestigious and internationally accepted Financial Planning certification recognized and respected by the global financial community. CFP Certification is the highest level of certification in the field of Financial Planning worldwide with over 1,61,821 CFP certificants, who are widely respected by consumers, professionals and industry.

Question 2 : Who should consider CFP Certification?
Answer :

CFP certification is for financial services professionals, customer relationship officers, insurance agents, stock brokers, those looking to expand their careers in the financial services business, and graduates who want to be professionally and globally recognized.

Question 3 : What are the prospects of career in Financial Planning?
Answer :

Financial Planning is one of the fastest-growing professions across the world and Financial Planners are the most sought after professionals by a fast growing working population that earns well, and needs expert handling of their finances. The opportunities are aplenty with Banks, Financial Planning Outfits, Wealth Managers, Life Insurers, Accounting Firms, Stock brokers seeking professionals with such expertise. Financial Planners offer expert opinions on issues related to retirement planning, estate planning, tax planning, investment planning, insurance planning, financial management of small businesses and trusts, stock brokering, debt and risk analysis. Needless to say a career as a Financial Planner can prove both challenging and rewarding.

Question 4 : How is it like working as a Financial Planner?
Answer :

Recognizing Financial Planning’s occupational benefits, there are many surveys that indicate a career in Financial Planning as the top career choice worldwide. Most Financial Planners enjoy relatively low stress, have a high earning potential and enjoy a high degree of workplace autonomy. The personal satisfaction element cannot be underestimated. Very often, independent Financial Planners find that people are just overwhelmed and need direction, so it’s their job to listen, understand their situation and offer some options that will help them. It gives them satisfaction to help people do better, not just with their finances but with blending the financial side with the other sides of clients’ lives so that they can achieve their goals.

Question 5 : What are the benefits of undergoing the CFP Certification Program and the CFP marks?
Answer :

•   Enhanced career and employment opportunities in Financial Services Sector.
•   Personal satisfaction in knowing you have earned the profession’s highest standard and met the global benchmark.
•   Satisfied clients who appreciate the comprehensive approach to Financial Planning and extend long term relationships and referrals.
•   Your expertise and credibility as a qualified professional is instantly communicated.
•   More revenue streams by increasing your product and service offering to your clients.
•   Enhanced Social Status by joining the league of professionals.
•   Recognition in 26 countries across the world.
•   Opportunities to showcase your knowledge on Financial Planning & Advising through various media vehicles.

Question 6 : How are Financial Planners paid?
Answer :

Financial Planners may earn in any of the following three ways:
1)  A Planner can be paid by a salary from the company for which the Planner works; by fees based on an hourly rate, a flat rate, or on a percentage of the assets and/or income.
2)  By commissions paid by a third party from the products sold to clients to carry out the Financial Planning recommendations.
3)  By a combination of fees and commissions whereby fees are charged for the amount of work done to develop Financial Planning recommendations and commissions are received from any product sold.
    As the profession is in its nascent stage various models are being tried and tested by the Financial Planners in India. But surely over a period of time the clear trend is towards a fee-only model like other professions, i.e. medicine, law, accountancy, etc.

Question 7 : Who offers CFP Certification in India?
Answer :

Financial Planning Standards Board India (FPSB India) offers the CERTIFIED FINANCIAL PLANNER certification or CFP certification Program. FPSB India is the sole licensing body that awards CFP certification in India through an agreement with US based FPSB Ltd. The mission of FPSB India is to help benefit the public by granting the CFP certification and upholding it as the recognized standard of excellence for Personal Financial Planning. CFP certification is awarded by affiliate organizations of FPSB Ltd. in their respective countries of operation.


     Kindly note FPSB India’s authorized Education Partners are only training and administrative entities authorized by FPSB India and not the CFPCM certification awarding bodies. FPSB India reserves the rights of awarding and relinquishing CFPCM certification as per the certification policies.

Question 8 : What is FPSB India?
Answer :

Financial Planning Standards Board India (FPSB India) is a Public – Private Enterprise and a Professional Standards Setting body that proactively guides the development and promotion of standards for Financial Planning professionals to benefit the public in the country. FPSB India closely works with all the stakeholders’ viz. the Government, the Regulators, the Industries/Associations, the Corporations, the Media and the General Public to achieve its objectives. It is a Professional Certification Organization, part of leading Global Confederation established by prominent financial service corporations with an objective to professionalize the concept of Financial Planning in India. FPSB India is supported by 48 Financial Services Organizations in the country as its Charter Members.

Question 9 : Is CFP Certification a Global Certification?
Answer :

Yes, currently CFP certification is offered and recognized in 26 countries including Australia, Austria, Brazil, Canada, China, Chinese Taipei, Colombia, France, Germany, Hong Kong, Indonesia, Ireland, Isreal, Japan, Malaysia, New Zealand, Netherland, Republic of Korea, Singapore, South Africa, Switzerland, Thailand, Turkey, United Kingdom and United States of America. FPSB Ltd., enters into licensing and affiliation agreements with non-profit organizations (or their equivalent) around the world that allows the organizations to establish and operate the CFP certification program in a country or region. FPSB Affiliates who meet and maintain FPSB Ltd., affiliation criteria of high standards are authorized to administer the CFP certification program on behalf of FPSB in a country or region. FPSB India is one of the Affiliates of FPSB Ltd.

CFP certification undertaken in any of the affiliate country is recognized globally and governed by cross border policy usage.

GLOBAL COUNT OF CFP CERTIFICANTS (as in December 2015)
Country/Region No. of CFP Certificants
Australia 5513
Austria 314
Brazil 2304
Canada 16685
China 16525
Chinese Taipei 772
Colombia* 8
France 1681
Germany 1467
Hong Kong 4702
India 1910
Indonesia 1241
Ireland 404
Israel 207
Japan 20294
Malaysia 2697
New Zealand 313
The Netherlands 117
Republic of Korea 4106
Singapore 842
South Africa 4574
Switzerland 299
Thailand 147
Turkey 0
United Kingdom 1015
Unites States 73684
Global Total 161821
Question 10 : What is the cross border CFP marks use policy of FPSB Ltd.?
Answer :

To benefit the public, FPSB Ltd. regulates how CFP professionals use FPSB Ltd. CFP or CERTIFIED FINANCIAL PLANNER marks outside the borders of the country or region in which they first received CFP certification.

Incidental Use
FPSB Ltd. permits incidental use of the CFP marks by CFP professionals outside the country or region of their initial certification. Incidental use consists of displays of the CFP marks in/on:
•   Articles published in a new country or region
•   Business cards or brochures distributed while traveling abroad.
•   Websites targeted toward stakeholders in the country or region of initial \ certification that are viewable outside the area’s borders.

Cross-Border Use
If an individual wishes to hold himself or herself out as a CFP professional or use the CFP marks outside his or her country or region of initial certification for anything other than incidental use, the CFP professional can pursue one of two options:

1.  Cross-Border Certification: An individual using the CFP marks in more than one country or region can become cross-border certified by obtaining CFP certification from the FPSB Ltd. Affiliate in the new country or region and abiding by the certification renewal requirements of both FPSB Ltd. Affiliates. Once the CFP professional has completed the process, he or she can identify himself or herself as a CFP professional in those territories as well.

2.  Restricted Use of the CFP Marks: If an individual does not want to/cannot become certified in a new territory, he or she can always communicate the fact that he or she has obtained CFP certification in the country or region of initial certification.

Question 11 : What are 4Es Criteria for awarding CFP Certification?
Answer :

CFP Certification worldwide is awarded by FPSB Affiliates to competent and qualifying candidates fulfilling the 4 E Criteria of CFP Certification, i.e. Education, Examination, Experience and Ethics.

Question 12 : What is the Education Criterion?
Answer :

A candidate must complete academic coverage of the Financial Planning curriculum by undergoing the first five Modules of CFP certification Education Program through an authorized Education Partner or through “Self Study” and pass corresponding Exam 1-4 facilitated by NSE. After a candidate is successful in all the examinations 1, 2, 3 & 4, he/she is eligible to appear in the Advanced Financial Planning examination termed as Exam 5. Candidates applying through the Challenge Status Pathway are deemed to have accomplished the Education Program considering their higher qualifications and work experience. The Education criterion demonstrates to the public that the candidate has acquired the necessary knowledge to become a Financial Planner.

Question 13 : What is the Examination Criterion?
Answer :

The CFP certification Examination (also called Exam 5 based on Module VI-Advanced Financial Planning) is designed to assess the candidate’s ability to apply Financial Planning knowledge to real-life Financial Planning situations. By passing the CFP certification E xamination, the c andidate demonstrates to the public that he/ she has the required level of competency to practise Financial Planning. The National Stock Exchange (NSE) has been appointed by FPSB India to conduct the CFP Certification Examination.

Question 14 : What is the Experience Criterion?
Answer :

The experience requirement qualifies work experience that involves Personal Financial Planning. Candidates under the Regular Pathway may complete the experience criteria pre or post appearing for Exam 5. However candidates under Challenge Status pathway need to have attained relevant work experience before appearing for Exam 5. The Experience criterion is meant to provide the public with the assurance that the candidate is able to translate the acquired knowledge of Financial Planning into Practical situations to achieve the client goals.

Question 15 : What is the Ethics Criterion?
Answer :

To get the CFP certification, candidates after meeting Education, Examination & Experience criteria must agree to abide by FPSB India’s Code of Ethics and Rules of Professional Conduct, Practice Standards and Disciplinary Rules and Procedures. Careful adherence to these standards of professional conduct helps turn initial consultations into trusted, long-term consulting relationships with clients and gain public confidence in the Profession and certification.

Question 16 : What does the CFP Certification Education Program offer?
Answer :

The CFP certification Education Program provides an individual the knowledge on the full range of financial products that are available in the Indian financial markets and makes him competent to recommend his/her client the right financial product to match their needs. The program helps the individual understand the Financial Planning process and makes him capable of explaining the process to his/ her clients. The individual, after gaining the CFP certification, would be highly trained, technically competent and he/she would have had some significant practical experience. He/She would also be able to draft comprehensive Financial Plans of international standards for individuals. The CFP certification program covers the following areas – 1) Introduction to Financial Planning, 2) Risk Analysis & Insurance Planning, 3) Retirement Planning & Employee Benefits, 4) Investment Planning, 5) Tax Planning & Estate Planning, and 6) Advanced Financial Planning.

Question 17 : Which are the six modules under the CFP Certification Education Program and what is the nature of the curriculum?
Answer :

The Six modules under the CFP Certification Education Program are - 1) Introduction to Financial Planning
2) Risk Analysis & Insurance Planning
3) Retirement Planning & Employee Benefits
4) Investment Planning
5) Tax Planning & Estate Planning
6) Advanced Financial Planning.
The module, Introduction to Financial Planning does not have an individual exam but is embedded in the examination of other five modules of the CFP Certification Program.
The Curriculum for the CFP certification is GLOBAL. It essentially means that it is global in outlook but has been localized as per the laws and regulations governing a particular country. The Syllabus is made by leading industry practitioners and academicians and is reviewed periodically to ensure that the curriculum is up-to-date and relevant to those working in the Financial Planning industry.

Question 18 : What are the modes available to facilitate completion of education?
Answer :

FPSB India has authorized Education Partners to deliver the CFP certification Education Program to the students. Alternatively, a candidate can adopt “Self Study” mode whereby he/she can choose any courseware or study material available in the market and study by self. The CFP certification Education Program is delivered by authorized Education Partners through distance learning, e-learning mode, part-time and full-time Education Programs.

Question 19 : In what language will the exam be conducted?
Answer :

Examinations are conducted only in English.

Question 20 : How do I pursue CFP Certification Program?
Answer :

There are 2 pathways through which an aspirant can register for the CFPCertification program, namely:
1) Regular Pathway through either Education Partners or “Self Study”
2) Challenge Status Pathway

Question 21 : What are the minimum qualifications required to register for the CFP Certification Program and what are the minimum requirements for being entitled to use the CFP marks and to be called as a CERTIFIED FINANCIAL PLANNERprofessional?
Answer :

The candidate enrolling with FPSB India to pursue CFP certification is required to be HSC or Class 12 pass, but he/she needs to be graduate pass for the award of CFP certification subject to fulfilling experience criteria. The education and experience criteria are explained in the Pathway matrix below:

* The candidate may accomplish the Education component of the CFP certification Program by exercising the “Self Study” option or may undergo training from FPSB India’s approved Education Partners and pass FPSB India’s Modules Certification (Exam 1-4) conducted by NSE’s Certification in Financial Markets (NCFM) compulsorily before registering for the final CFP certification Examination. A certificate of passing exam is uploaded in the NCFM Account of the candidate.

** CA, CFA (USA), ICWA, CAIIB, LLB, PhD./ M.Phil/ Post Graduate in Economics, Econometrics, Statistics, Commerce, Mathematics, Finance, Management, Financial Planning/ Advising, Investment. Licentiate/Associate/ Fellowship of Life Insurance from Insurance Institute of India, Actuary from Institute of Actuaries of India, Civil Services Examinations by Union Public Service Commission, Company Secretary from Institute of Company Secretaries of India, Fellow Financial Services Institute, Fellow Life Management Institute. Post Graduate Diploma in Financial Advisng (PGDFA) / Advanced Wealth Management by Indian Institute of Banking & Finance (IIBF)

# Provisional Certification shall be subject to payment of the annual requisite fees.

##Subject to fulfilling experience criteria & payment of annual Full Membership Fees. A candidate could seek either Provisional Certificate or Final Certificate based on his/her eligibility in any financial year.

### Professionals with qualification such as MBA, CA, CFA etc may add 20-25% to expected pay packet

Regular Pathway:
In order to enroll for the CFP certification Education Program, the applicant must have at least passed his HSC (Class 12) or equivalent. However, the applicant will be entitled to use the CERTIFIED FINANCIAL PLANNER certification or CFP marks only after he/she has acquired a graduation (degree) qualification. He/she also needs to have a minimum of 3 years work experience in the financial services industry. The candidate will have to give a 2 hour objective exam on each of the following subjects:
1) Risk Analysis & Insurance Planning,
2) Retirement Planning & Employee Benefits,
3) Investment Planning,
4) Tax Planning & Estate Planning, and a 4-hour exam on Advanced Financial Planning.

Challenge Status Pathway:
In addition to the graduation qualification, the candidate who also possesses either of the following additional qualifications/certifications viz. CA, CFA (US), ICWA, CAIIB, CS, LLB, PhD, M.Phil, PG, Licentiate/Associate/ Fellowship of Life Insurance, Actuary, FFSI & FLMI from LOMA, Civil Service Examinations by UPSC would be eligible to enrol for the CFP certification program through the Challenge Status Pathway. In addition, he/ she must also have a minimum work experience of 3 years in case of employment with a financial services organization relevant to a component of Financial Planning. Only after the applicant meets these criteria he/she shall be eligible for the Challenge Status program and on successful completion of the Exam-5, he/she shall be awarded the CFP certification by FPSB India. The applicant is then entitled to use the CERTIFIED FINANCIAL PLANNER certification CFP marks and he/she would be rightfully called as a CERTIFIED FINANCIAL PLANNER professional.

Question 22 : How do I register through “Regular Pathway”?
Answer :

A candidate who chooses “Self Study” mode can pursue study by self after registration with FPSB India. However, if a candidate chooses the Education Partner route for education, he/she needs to additionally register with one of FPSB India’s authorized Education Partners, which are those educational institutes/corporations which are approved by FPSB India to provide education/training for the CFP certification program. Kindly visit FPSB India website for complete directory with search capabilities.

Question 23 : How do I register through “Challenge Status Pathway”?
Answer :

The Challenge Status Program is for professionals who already possess certain skill sets and proficiency which is expected of Financial Planners. In order to enroll for the Certification through the Challenge Status Pathway, the candidate needs to meet the education and experience criteria. A candidate applying for the Challenge Status pathway needs to appear only for a single examination (Exam 5). Nevertheless, the syllabus under the Challenge Status program is same as in the Regular Pathway.

Question 24 : What are the routes and fee structure available under Challenge Status Pathway?
Answer : The fee structure appears in the following table:
S.No. Challenge Status Route Fees Fees Includes
1 FPSB India Rs. 26,450

Registration Fees valid for 1 year, initial certification, Administration & Processing Fees.

2 Education Partner Rs. 26,450

Registration Fees valid for 1 year, initial certification, Administration & Processing Fees.

3 EP - Reliance MF Special Offer Rs. 13,800

Registration Fees valid for 1 year, initial certification, Administration & Processing Fees.

4 IIBF - PGDFA/Advanced Wealth Management Rs. 13,800

Registration Fees valid for 1 year, initial certification, Administration & Processing Fees.

5 Charter Member
(Extended Special Offer)
Rs. 13,800

Registration Fees valid for 1 year, initial certification, Administration & Processing Fees.

Question 25 : How much does it cost to pursue and attain the CFP Certification under “Regular Pathway”?
Answer :

A) Education Partner mode
There are various costs associated with the CFP certification Program. The costs may vary from student to student based on the Education Partner he/she selects and number of attempts he/she requires to pass the examinations. A brief estimate of associated costs is listed below
• Student Registration Fees with FPSB India: Rs 13,800 (valid for 1 year)
• Education Program Fees: Each of the Education Partners (EP) has its own fee structure for the Education Program ranging from anywhere between Rs 15,000 to Rs 50,000 depending on the Program mode (online, distance learning or classroom) the candidates chooses
• Exam 1-4 Fees: Rs 2875 per exam per attempt
• Exam 5 Fees: Rs 6,900 per attempt
• CFP Certification Fees: Rs.6,900/- per year and to be renewed annually

B) “Self Study” mode
The candidate needs to pay registration fees (with FPSB India) of Rs 13,800 (valid for 1 year), procure the courseware/study material of choice from the market. The fees for Exam 1-4, Exam 5 and certification remains as mentioned above.

Question 26 : Does FPSB India contemplate any support structure for “self study”?
Answer :

FPSB India has approved Resource Persons. The initiative is a kind of structural approach to “Self Study”. Students aspiring to pursue the CFP certification program through “Self Study” mode may opt to approach an FPSB India approved mentor for guidance and advice in pursuing CFP certification. The same would be a structured and trusting relationship that will bring CFP certification aspirants with CFP certificants who would offer guidance, support and encouragement aimed at developing the competence and character of the mentee. In this initiative of FPSB India, a Mentor is expected to provide students with support, counsel, friendship, reinforcement and constructive examples for successfully attaining CFP certification.

Question 27 : How will “Self Study” work in a scenario of no boundaries and no formal support structure?
Answer :

Under “Self Study” mode for registration to the CFP certification Program, a student may directly enroll with FPSB India by paying the Student Registration Fees. The student has option to study by self through courseware available in the market. The student may also decide to enroll for various available Education Programs (Distance Learning, Classroom Training, Web-based training, etc.) of choice. Hence, the student will be free to opt for training programs if he/she finds value in education programs delivered by the Education Partners. This proposal will ensure a student is not prohibited from pursuing the CFP Certification even if a student is competent to pursue the same through self study in a cost effective manner.

Question 28 : Is loan facility available for undergoing CFP certification program?
Answer :

Yes. A student loan can be availed through any of the public/private sector banks for funding CFP education. However, this loan is available only on the education fee (to be paid to the Education Partner) and not on the registration and exam fee, which the student needs to pay to the Board. Some Education Partners also accept the fee in installments.
HDFC Bank has joined with a few of the Education Partners to offer, education loans to CFP certification students.

Question 29 : How do I select my Education Partner?
Answer :

All the Education Partners are authorized by FPSB India based on the stringent eligibility criteria set by us and FPSB India does a regular audit to ensure education delivery in accordance with the standards set. However, FPSB India doesn’t rank the Education Partners. Therefore the students are advised to select their Education Partners based on the following criteria and enquiring with multiple Education Partners:
•   Mode of Education Delivery – distance education/classroom/online
•   Faculty Support
•   Course Material
•   Workbooks and sample papers developed
•   Cost Structure and payment options
•   Geographical accessibility
•   Online support

Question 30 : What are the renewal requirements of CFP Certification?
Answer :

The following are 2 requirements for renewing the CFP Certification
A) Continuing Education (CE):
The CE requirement of 15 points is effective immediately upon certification and one is required to meet this to be a CFP certificant. Continuing Education (CE) plays a vital role to maintain and enhance the professional competence of the CFP professional in a dynamic industry. FPSB India has made Continuing Education one of the key requirements for continued use of FPSB India’s CFP marks.
B) Renewal Fee:CFP Certificants pay a renewal fee currently set at Rs 6,900/- per year. To avoid the late fee, the CE requirement must be fulfilled and FPSB India must receive a duly-completed CE Reporting Form along with the Fee(s) before the renewal date.

Question 31 : What is AFP Certification?
Answer :

To professionalize the product-based advisory and specialized advisory services, FPSB India has established AFP certification which is targeted at existing professionals who want to upgrade their knowledge about Financial Planning without undergoing the entire CFP certification Program. The various certifications available under this option are:
•   AFP Certification (Risk Analysis & Insurance Planning)
•   AFP Certification (Retirement Planning & Employee Benefits)
•   AFP Certification (Investment Planning)
•   AFP Certification (Tax Planning & Estate Planning)
However, FPSB India and the industry encourages students to undertake the complete CFP certification Program to practise Financial Planning in its true comprehensive spirit.

Question 32 : What’s the difference in terms of competence, training and scope of duty between an AFP and a CFP certificant?
Answer :

An AFP certificant is one who is trained and is competent to recommend the full range of a financial products to match the needs of his/her clients. He/she understands the financial planning process and is able to explain the process to clients and provide clients with only segmented or modular plans but is not able to write comprehensive financial plans. For example - A candidate who has cleared AFP (Risk Analysis & Insurance Planning) can be relied upon for an expert advice on the subject of Insurance. However the advice has to be taken in isolation of other aspects of personal finance which may or may not yield the desired result.
An annual subscription fee of Rs 1,150 to FPSB India before the AFP certificate is conferred. AFP being a professional certification, the certificant will be required to fulfill the Continuing Professional Development credit hours requirement. For AFP certificants, the requirement is 15 credit hours to be fulfilled per two-year reporting period.
A CFP certificant, besides being able to discharge the service that an AFP certificant can, would also be highly trained, technically competent and he/she would have had some significant practical experience. He/she would also be able to draft comprehensive financial plans of international standards for individuals. A CFP certificant can be relied upon not only on the matters of comprehensive financial planning but also on individual subjects be it taxes, insurance, investments or retirement.
In order to earn the CFP mark, you are required to complete all of the exams 1 to 4 and subsequently pass Exam 5 i.e Advance Financial Planning. CFP certification is granted after verification of 3 years experience and code of ethics criteria. CFP certification is an accredited certification from NISM for applying the Registered Investment Advisors (RIA). under the SEBI-Investment Advisor Regulations, 2013.

Question 33 : How soon can I complete CFP certification? What is the maximum period given to a candidate to complete the CFP Certification Program?
Answer :

A candidate through Regular Pathway is suppose to consume a year for passing all modules of CFP exams a candidate can renew registration for six subsequent years to pass the exams. However, a professional under challenge status pathway can complete the exam in less then three months as well.

Question 34 : What will I be tested on?
Answer :

CFP Certification students are assessed on the following:
•   Professional advice and understanding of clients’ needs; the fact-finding process; and the elements of good practice.
•   Knowledge and application of protection of capital, savings and investment, and retirement related products.
•  Knowledge of Indian financial services industry regulatory framework and taxation. For a detailed syllabus, please contact FPSB India.

Question 35 : What do I gain for immediate recognition when I pass the exam?
Answer :

Success in passing the exam opens up several opportunities for immediate recognition by your peers, customers and the financial services industry as a whole. Successful candidates will be awarded a certificate.
They will be invited to apply for certification with the FPSB India. CFP certificants who successfully apply for certification will be able to indicate their CFP certification on their professional identifications, including visiting cards and letter head.

Question 36 : What are the benefits of the CFP Certification?
Answer :

Benefits of CFP Certification include:
•   Certificants can indicate their certification status on their professional documents, including their name cards gaining recognition from peers and customers, and become part of a prestigious group of financial services providers dedicated to excellent service with a high standard of ethics.
•   Free subscription to Financial Planning Journal - India’s leading financial planning publication with news, analysis and comments on current issues.
•   Newsletter.
•   Special rates to attend seminars, forums and conferences organized by FPSB India.

Question 37 : I might consider upgrading my status to that of a CFP certificant sometime in the future. Can I just maintain my AFP license in the meantime?
Answer :

Yes. You can maintain your AFP license, but we would encourage you to continue with the program that would ultimately lead you to the prestigious CFP mark that is globally recognized. If for some reason you are unable to continue with the program, you have a maximum of 7 years to complete the CFP certification Education Program course from the date of your first module registration.

Question 38 : What happens if I have not completed the CFP Certification Education Program even after 7 years?
Answer :

You will be required to re-register for the CFP certification Education Program course. In other words, you will need to undergo all the modules once again.

Question 39 : Are there any other courses or programs offered by FPSB India?
Answer :

FPSB India offers only CFP certification and AFP Certification Programs. There are no other certifications, programs or degrees offered by FPSB India.

Question 40 : I have successfully cleared all the CFP certification exam but do not possess relevant work experience of three years. Am I eligible for the CFP certification?
Answer :

In your case, you will be issued a Special Certificate by FPSB India mentioning that you have successfully accomplished the CFP certification exams against an annual fee which is equivalent to the certification fee and following your successful completion of 3 years of work experience, you shall be awarded the CFP certification.

Question 41 : What documents do I need to provide when I apply for CFP Certification?
Answer :

•   Application for certification
•   Application Fee of Rs 6,900
•   Self-declaration Form duly signed by the candidate and the Special Declaration Form signed by the HR head of the company, if he/she is employed. In case the candidate is self-employed, then the form has to be signed by a Gazetted Officer or Notary Officer.
•   Qualification certificates (signed by the HR Head or Gazetted Officer or Notary Officer as applicable).
•  Work-experience certificates (signed by the HR Head or Gazetted Officer or Notary Officer as applicable).

Question 42 : What is OCMS?
Answer :

OCMS is the Online Certification Management System of FPSB India meant to automate the following processes:
Registration for CFP/AFP Program
1.  Register for Regular Mode through Education Partner or Self-Study
a. Fills Student Registration Form
b. Pays Registration Fee
2.  Register for Challenge Status(CS) Program with FPSB India or Education Partner
a. Fills Registration Form
b. Pays Registration Fees
Application for Certification
3.  Apply for Student Registration with FPSB India through Education Partner or Self Study
a. Chooses the Study Mode
b. Fills Student Registration Form
c. Submits Supporting Documents
d. Pays Student Registration Fee
4.  Apply for AFP Certificate with FPSB India
a. Passes the Exam for AFP Certification program
b. Fills AFP / Associate Certification Form
c. Submits Supporting Documents
d. Pays Associate Membership Fee
5.  Apply for CFP Certification with FPSB India
a. Passes CS / Exam 5
b. Fills the CFP Certification Form
c. Submits Supporting Documents
d. Pays CFP Certification Fee
e. Accepts the Self Declaration
Enrollment for Examination
6.  Enroll for Exam/Re-Exam (Regular Mode Students)
a. Cleared all the Exam 1-4.
b. Fill the Exam 5 Enrollment form
c. Select Center
d. Pay Exam Fees
7.  Enroll for Exam/Re-Exam (CS Candidates)
a. Registered for Challenge Status Program
b. Fill the Exam 5 Enrollment form
c. Select Center
d. Pay Re-examination Fees if applicable
Renewal of Certification
8.  Renewal of CFP Certification with FPSB India
a. Fill Renewal Form
b. Pay Renewal Fees
c. Accepts the Self Declaration
d. Submit documents CE points
9.  Renewal of Associate Membership with FPSB India
a. Fill Renewal Form
b. Pay Renewal Fees
10.  Renewal of Student Registration with FPSB India
a. Fill Renewal Form
b. Pay Renewal Fees

Question 43 : How do I contact FPSB India for further information?
Answer :

Financial Planning Standards Board India (FPSB India)
Mumbai Office:
702, 7th Floor, Leela Business Park, Andheri-Kurla Road, Andheri (East),
Mumbai - 400 059, India.
Phone : +91 22 6171 2424
Fax : +91 22 6171 2444
Email : info@fpsbindia.org
Delhi Office:
916,Indra Prakash Building, 21, Barakhamba Road, Connaught Place,
New Delhi 110 001.
Tel.: +91 11 2375 3689
Email : info@fpsbindia.org



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