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 that the time required for a question will be in proportion to the number of marks for the question.
While there is no specific guidance from the FPSC, you would expect to find that the number of marks for each of the three-hour papers totals 100. You should quickly check this as you start each exam paper by totaling the number of marks. If they do not give the number of marks for the multiple-choice questions, you can probably assume that they are worth one mark each.
This Post will assume that there are 100 marks per paper, in which case you will have 1.8 minutes per mark, calculated as ((3 hours × 60 minutes per hour) ÷ 100 marks per paper).
If the papers have a different number of marks, you can calculate the number of minutes per mark by using (180 minutes ÷ the number of marks).