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Qualified Associate Financial Planner™ Examination

Technical questions or case questions first?

Posted by David Gobeil on

There is some debate as to whether to answer the technical questions or the case questions first. You could do the technical questions first to get a quick sense of accomplishment. Then, you would take a deep breath, adjust your pace and start on the case studies. However, we would answer the case studies first. The case studies are more challenging to your brain than the technical questions.  If you were to leave the case questions to noon, you would be doing them when you are getting tired. Doing the case questions first should be better.

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Time Management Strategy

Posted by David Gobeil on

On the last FPE1, the time for a technical question would have been 2.12 minutes, calculated as (240 minutes divided by (73 technical questions + (2 × 20 case study questions))). The time for a case study question would have been 4.24 minutes, calculated as (2 × time for a technical question of 2.12 minutes). Using the above calculation, determine the number of minutes that you can spend on each technical question. When you first sit down at the FPE1, write on your exam paper the times at which you should have completed each case study and each block of...

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Time Management

Posted by David Gobeil on

The Guide to CFP Examinations published by the FPSC says: “FPE1 is a competency-based examination of up to four hours in duration. The examination consists of approximately 95 multiple-choice questions. The examination questions will be presented as a combination of stand-alone multiple-choice questions and two case studies with related multiple-choice questions.” “Candidates must select the most appropriate or best answer from the options provided for the scenario presented in the question. There is only one correct answer for each question, and marks are not deducted for incorrect responses. Each question is worth one point toward the total examination mark.” “FPE1...

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The FPE1 Blueprint

Posted by David Gobeil on

In this Post, we will look at the FPE1 Blueprint for the allocation of questions by financial planning functions. Allocation by financial planning functions For the Competency Profile, the FPSC has defined three financial planning functions: Collection, Analysis and Recommendations. The Blueprint allocates the content on the Exam by financial planning function with Collection 35% - 45%, Analysis 36% - 46% and Recommendations 14% - 24%. In preparing to pass the Exam, it helps if you understand the distinctions between collection, analysis and recommendations. You might want to look at the Blueprint. Collection involves collecting the information required to develop...

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Technical knowledge in Professional Competency Profile

Posted by David Gobeil on

The required technical knowledge with the topics classified as to levels of knowledge is included in Appendix B of the CFP® Professional Competency Profile. We suggest that you print a copy of Appendix B and use it as a checklist. Every question on the Exam will include a client situation and require you to analyze the information about the client. This analysis may only require you to calculate some amount or it may require you to evaluate financial planning strategies. Awareness and Understanding Based upon the courses that you took in order to be eligible to write the FPE1, you...

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