Prepare for the exam

Use the study resources to help prepare

The FP Canada Standards Council™ Competency Profiles outline what will be assessed on the exam, and the related Exam Blueprints show the weighted value of each of the competencies. Consult either the  FP Canada Blueprint: QAFP Examination or the  FP Canada Blueprint: CFP Examination for more information about the exam structure.

Familiarize yourself early on with both documents and refer to them throughout the study period. Learn more about these two documents in the exam webinars.

Thoroughly review all your course work

Cross-reference the relevant competency profile with your educational materials to identify gaps and/or weaknesses in your knowledge, and in your ability to demonstrate competence by effectively applying that knowledge. Then, research and study to fill in those gaps. 

As you study and review, think about the practical applications of a concept

How would you use the concept you are studying in a real-life situation with a client? Remember that you will be tested not only for your technical knowledge but also on how you apply that knowledge.

Understand how questions are structured

The QAFP^® exam consists of only multiple-choice questions. Each question is worth one point.

The CFP^® exam includes both multiple-choice questions and constructed response questions.

For multiple-choice questions (QAFP exam and CFP exam) you will be asked to select the most appropriate answer. The constructed response questions (CFP exam only) require a more detailed response. Mark values for these questions vary and are indicated on the exam. Marks are not deducted for incorrect answers to constructed-response questions.

Familiarize yourself in advance with the tools that will be available to you during the exam

• Equations for Rate of Return and Time Value of Money Calculations
• Abbreviations and Acronyms

Practice

Watch the FP Canada exam webinar

The QAFP exam and CFP exam webinars are facilitated by the FP Canada Standards Council Exam Department. The webinars provide insights into the exam process, what to expect on exam day, and what resources FP Canada offers to help you prepare.

View the QAFP exam webinar View the CFP exam webinar

Get more practice with sample exam questions

The sample exam for the QAFP exam provides 22 multiple-choice questions and one case study with five multiple-choice questions. The sample exam for the CFP exam provides 26 multiple- choice questions and one case study with three constructed response questions. Each question includes the correct answer, and a rationale as to why it’s the right answer.

Access sample exam questions

Purchase and start using the practice exam early

You can buy a practice exam. You will get the most benefit from your practice exam if you use it ahead of the exam and throughout your preparation process. Use this tool’s diagnostic report to identify areas where you need to focus, so that you can spend more time concentrating your studies on those topics. When you complete the practice exam you'll get detailed explanations of why each answer was right or wrong. You can purchase and access the practice exam in your FP Account.

Take the exam software tutorial

Become familiar with the software that will be used on exam day for both the in-person and online proctored exams.

Try the software tutorial 

Study tips

Create a study plan that supports your learning style and commit to it

For example, think about whether you learn better by reading textbooks, reviewing flashcards with a friend, or speaking information aloud, and build these into your study plan.

Find time to study without distraction and incorporate it into your daily routine

Make exam preparation a priority. You might have to cut back on other activities temporarily to make time for exam preparation. Plan to study over a period of months rather than cramming at the last minute.

Consider finding a study partner who is also preparing for the exam

You can help each other understand complex topics, and keep each other accountable throughout the preparation process.

Take care of your health as part of preparing for the exam

This will help you approach your exam day with energy and focus. Don’t hesitate to ask for support from your family, friends or your employer during this time (for help with childcare, or time off to study).