The QAFP exam is a four-hour examination consisting of up to 100 multiple-choice questions, with stand-alone questions and case studies with related questions. The test specifications are published in the FP Canada Blueprint: QAFP Examination. Each question on the QAFP exam focuses on specific elements of the FP Canada Standards Council™ Competency Profile and may also require integration across several financial planning areas to address the needs of clients with relatively less complex financial planning situations. The QAFP examination is administered twice a year and is available in English and French.
Results are available for the November 2019 sitting of the FPSC Level 1 Exam in Financial Planning, the qualifying exam for the previously available FPSC Level 1 Certification in Financial Planning. On January 1, Qualified Associate Financial Planner™ certification replaced FPSC Level 1 certification. QAFP™ certification is designed for financial professionals who provide financial planning advice to the average Canadian, with typical financial planning needs.
Candidates who successfully completed the final administration of the FPSC Level 1 exam, which took place at 41 testing centres across Canada on November 28, 2019, are eligible for QAFP certification and joined the inaugural cohort of QAFP professionals.
A total of 443 candidates wrote the FPSC Level 1 exam, including 353 candidates who were taking the exam for the first time and 90 candidates who were re-attempting the exam. The overall exam pass rate was 68%. Among first-time writers, the pass rate was 73% and among repeat writers, the pass rate was 49%.
The augural sitting of the QAFP exam will take place on Monday, November 23.
|September 16||Examination Preparation Webinar|
|September 29||Early bird registration ends|
Last day to request an alternate examination location, French examination, or testing accommodation
|October 27||Exam registration closes|
Last day to request a refund, postponement, or change exam location
|November 4||Last day to successfully complete Introduction to Professional Ethics (IPE)|
Last day to provide core and advanced curriculum educational transcripts
|November 23||QAFP examination takes place at locations across Canada|
|To be determined||Results released for the QAFP examination|
|Early Bird Discounted|
Rate ends two months
before exam sitting
|After Early Bird|
closes one month
before exam sitting
|Exam Registration & Practice Exam||$675 + tax||$775 + tax|
|Exam Registration||$550 + tax||$650 + tax|
To view a complete list of examination fees, including alternate location, postponement or withdrawal fees, click here.
To write the QAFP examination, you must have successfully completed an FP Canada-Approved Core Curriculum Program and the FP Canada Institute™ Introduction to Professional Ethics (IPE) course within the past four years.Submit Your Transcript
If you hold a relevant professional qualification in good standing in Canada, you may be eligible for exemption from FP Canada-Approved Core Curriculum and FP Canada Institute Introduction to Professional Ethics, and may proceed directly to the QAFP Examination. Relevant professional qualifications include:
You must successfully complete the QAFP examination within four years (or four attempts) of successfully completing an FP Canada-Approved Core Curriculum Program or the Introduction to Professional Ethics course, whichever comes first. If you are not successful on the exam within four years (or four attempts), you will need to successfully repeat the Core Curriculum Program and/or Introduction to Professional Ethics course.
Candidates have two options for the administration of the QAFP exam: writing the exam at an in-person testing centre, or via online proctoring with their own computer from home or another private location. You will be asked to select an in-person test centre or online proctoring as your exam location as part of the registration process for the QAFP exam.
Online proctoring provides candidates with the opportunity to write the exam from home or another private location using their own computer, webcam, microphone and internet connection. The exam is written in a secure environment on downloaded software – the same exam software that is used at in-person test centres. Before selecting online proctoring as an option, consider if your computer system meets the technology and system requirements necessary for participation in online proctoring. Note that there are no exceptions for these requirements. More information on technology and system requirements can be found in the FP Canada Guide to the QAFP Examination.
You will be asked to indicate your preferred exam location on the QAFP exam application. FP Canada will strive to accommodate your preferred location, but if the location has reached capacity your second preferred location will be assigned to you. In the rare event that your first and second preferred locations are at capacity, an alternate exam location will be proposed to you. A list of standard locations is available in the FP Canada Guide to the QAFP Examination.
The Practice Exam is a study tool to help prepare you for the QAFP examination. It allows you to experience how the actual exam looks and feels – and most importantly provides feedback on your performance. Candidates who prepared with FP Canada Practice Exams in the past often said they were more familiar with the exam software, felt the diagnostic report provided useful feedback on their performance and felt better prepared to write the exam. We encourage you to take advantage of this essential study tool and we recommend that you complete the Practice Exam early in your preparation process.Order the Practice Exam
Based on the FP Canada Blueprint: QAFP Examination, the Practice Exam has the same structure, format and types of questions as the actual exam and uses the same software that you’ll use on exam day.
After purchase, you have a total of six hours to complete the four-hour exam and you may only write it once. You can log in and out as many times as you wish provided total time logged in does not exceed six hours. You can view the Practice Exam questions, their response options and the rationales for each correct and incorrect answer as often as you like until exam day.
Following completion of the Practice Exam, you will receive detailed rationales for all exam questions as well as a diagnostic report to help identify areas that may require more study. You’re encouraged to refer to the information provided in the diagnostic report while preparing for the QAFP examination. You can view the Practice Exam and the rationales for each correct and incorrect answer as often as you like until exam day.
You may perceive that the level of difficulty of the actual exam varies from the Practice Exam; however, materials on the Practice Exam have appeared on actual FP Canada examinations. With more time to write the Practice Exam than the actual exam, access to study materials while you write it and that your performance on the Practice Exam has no direct consequences may impact your perception of the level of difficulty. When you write the actual exam, there may be some differences in administration settings and there are tighter time constraints for writing; these factors could make the actual exam seem more difficult than the Practice Exam.
Refunds are not provided for the purchase of the Practice Exam. Use of the Practice Exam is restricted to candidates who have registered or are registering to write the QAFP examination and is for personal study use only. The Practice Exam is updated annually for currency and the exam questions were last refreshed in January 2020. The Practice Exam is available in English and French.
If you have questions about the Practice Exam, please contact us at firstname.lastname@example.org. Questions or comments received less than two days prior to the QAFP examination will be answered after the examination. There are no additional explanations or tutoring on the Practice Exam content. Please refer to your study materials to better understand the concepts presented in the Practice Exam.
Tips and tools to help you prepare to write the QAFP examination
Maximize your study efforts for the QAFP examination with an exclusive webinar facilitated by FP Canada Standards Council’s Examinations department. The Exam Preparation Webinar for the November 23, 2020 QAFP exam will be held on September 16, 2020. To help exam candidates gain insight into the exam and exam processes, the webinar will answer frequently asked questions such as:
If you miss the live webinar, you will be able to view it online.
If you’re registered for the QAFP examination, you have access to more than 50 sample exam questions on your FP Canada Portal including sample case studies, retired exam questions, keys to competency and much more.Access These Tools
Familiarize yourself with the examination software by using our software tutorial. The tutorial gives you an opportunity to experience how the software will work.Try the Software Tutorial
Arriving to your exam prepared and knowing what to expect is your best strategy for success. For detailed information about the QAFP examination, refer to the FP Canada Guide to the QAFP Examination.
We strongly encourage you to use the FP Canada Standards Council Competency Profile, and materials from your FP Canada-Approved Core Curriculum Program and Introduction to Professional Ethics course to prepare for the QAFP examination. It’s important to understand that the elements of financial planning competency focus not only on knowledge required, but on how QAFP professionals must behave in practice. The questions on the QAFP examination will refer to one or more elements of competency. You’ll be expected to understand the competencies and how they should be applied in practice.
Please note: FP Canada Standards Council does not review, recommend or endorse any external study help providers, courses or materials as representative of the QAFP examination.
This checklist will help you prepare to write the QAFP examination. For more detailed information, please refer to the FP Canada Guide to the QAFP Examination.
Log in to your FP Canada Portal to register for the exam.
In-Person Test Centre
If you have any questions regarding the QAFP examination or your responsibilities or rights as a candidate, contact FP Canada's Certificant and Student Services at email@example.com, 416-593-8587 or 1-800-305-9886.