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Embedded Ethical Dilemmas - Post #14 - The CFP Examination - December 2017

Posted by John Gobeil on

In this Post, we will explain the inclusion of embedded ethical dilemmas in The CFP Examination. Embedded ethical dilemmas As per The CFP Examination Blueprint, Professional Skill 1 – Professional Responsibility will be integrated into at least 6% of The CFP Examination items. Specifically, at least 6% of The CFP Examination score points will include situations with embedded ethical dilemmas. During scoring of the exam, scorers will note any potential breaches of ethics suggested in candidate responses, and candidates will receive a breach score for ethics, which will not be part of the score used to determine pass/fail status. However,...

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Budget 2017! - Post #13 - The CFP Examination - December 2017

Posted by John Gobeil on

In this Post, we will consider Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures. Budget 2017 In the letter to candidates confirming their registration for the exam, The FPSC has advised candidates that they are responsible for legislation that has received Royal Assent at least one month before the exam. On June 22, 2017, Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures, received Royal assent. So, you are responsible for the proposals in the...

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Five-Step Process for Constructed-Response Questions - Post #12 - The CFP Examination - December 2017

Posted by John Gobeil on

In this post, we will apply the five-step process to answer another constructed-response question. Five-Step Process for Constructed-Response Questions The five-step process for constructed-response questions is: read the Response Instructions; examine the Response Template; determine how much time you have to answer the question; read the client situation looking for all relevant information; and analyze the relevant information and complete the response template. Sample Examination Item This question was included in Gobeil's Strategic Financial Planning Study Aid™. (8 marks) William and Brenda Cargill are 65 years of age. Last year, William fell out of their apple tree and broke his...

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Time Management for Constructed-Response Questions - Post #11 - The CFP Examination - December 2017

Posted by John Gobeil on

In this Post, we will look at time management for constructed-response questions. The Guide to Examinations for CFP Certification says: “The CFP Examination is a competency-based examination of up to six hours in duration. The examination will consist of approximately four-and-a-half hours of constructed-response questions and one-and-a-half hours of multiple-choice questions. These constructed-response questions will range from short-answer-type questions to longer, extended-response-type questions.” The sample items published by the FPSC have indicated the number of marks for each question. Assuming that the mark allocations reflect the difficulty and length of time required for the questions, it is fair to assume...

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Constructed-Response Questions - Post #10 - The CFP Examination - December 2017

Posted by John Gobeil on

The CFP Examination is the second of two exams that must be passed to obtain CFP certification. We have posted this entry to assist you in your preparation for The CFP Examination being held on Friday December 1, 2017. In the last Post, we considered time management for the multiple-choice questions.                                                                                                            In this Post, we will look at the five step process to answer a constructed-response question. Constructed-response questions From the Sample Examination Items released by the FPSC, we are under the impression that the constructed-response questions will not be particularly harder than the multiple-choice questions. In fact, some of...

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