In order to enable eligible professionals (both in terms of education as well as work experience) to acquire the CFPCM certification in a more time efficient manner, FPSB Ltd. has introduced a fast track Challenge Status certification program.

The registration process for a student of CFP certification under Challenge Candidate Pathway is as follows:

  1. Obtain a NCFM number through the NSE Academy website. If you have already received a NCFM number, do not register with NSE Academy again; instead, retrieve your name (exactly as recorded in NCFM) and your NCFM number to include in your Challenge Candidate Registration Form.
  2. Register as a Challenge Candidate with FPSB Ltd. by completing a Challenge Candidate Registration Form and sending the self-attested, scanned documents to [email protected] and mentioning your NCFM number in the mail message.
    • Documents Required:
      1. Highest Qualification mark sheet or certificate (PG/Graduate with certifications)
      2. Documents supporting work experience for latest 3 years (for financial services) and 5 years (for other financial services)

      For Working Professionals: Work experience certificate or Relieving letter or appointment letter & last salary slip

      For Self-employed: IT returns and commission statement along with valid documented proof supporting nature of employment

  3. FPSB Ltd. verifies that the required documents and qualifications have been submitted (note that this may take up to 15 business days).
  4. Once approved, you will receive a link from FPSB Ltd. to pay your Challenge Candidate Registration Fee of US$300*.
  5. FPSB Ltd. activates the candidate on the NSE exam portal.

*Challenge candidate registration fees are not refundable. If you have any questions prior to purchasing, please contact [email protected].

For additional information pertaining to the Challenge Candidate Pathway, please see below:

Qualification Criteria

Only candidates who are Graduates from a Recognized University and having the following additional Educational Qualifications or equivalent would be eligible under the Challenge Status Program:

S.No. Name of the Qualification
1 Chartered Accountant (CA) / Intermediate level from Institute of Chartered Accountants of India (ICAI)
2 Chartered Financial Analyst (CFA) from CFA Institute, USA
3 Cost Accountant (ICWA) from the Institute of Cost and Works Accountants of India (ICWAI)
4 PhD./ M.Phil in Economics, Econometrics, Statistics, Commerce, Mathematics, Finance, Management, Financial Planning/ Advising, Investment (or any other similar discipline)
5 Post Graduate in Economics, Econometrics, Statistics, Commerce, Mathematics, Finance, Management, Financial Planning/ Advising, Investment (or any other similar discipline)
6 LLB (Law) or equivalent
7 Licentiate/Associate/ Fellowship of Life Insurance from Insurance Institute of India
8 Actuary from Institute of Actuaries of India
9 Civil Service Examinations by Union Public Service Commission (UPSC)
10 Company Secretary from Institute of Company Secretaries of India.
11 Fellow, Financial Services Institute (FFSI) / Fellow, Life Management Institute (FLMI)from LOMA

Notes:

  1. Candidates with Post Graduation in Management (other than Finance) qualifications need to have compulsory SEBI/ IRDAI mandated Certification as well.
  2. Post-Graduation qualification implies at least two years’ of full time education in an education institution. Alternatively equivalence as recognized by appropriate statutory authority viz. UGC/AICTE etc. as Post Graduation qualification (deemed) may also be considered.
  3. Candidates having cleared the Civil Service Examinations (Mains) conducted by Union Public Service Commission (UPSC) in the prescribed subjects viz. Commerce, Engineering, Economics, Law, Mathematics, Management, Physics and Statistics and having at least 3 years work experience OR candidates having cleared the Services Examinations conducted by Union Public Service Commission (UPSC) and having at least 3 years work experience in Accounts, Finance and related Departments shall also be eligible to appear for the Challenge Status Program.
  4. Graduates or Post Graduates in non-financial fields who have cleared NISM 10 A and 10 B examination are eligible for this pathway.

Experience Criteria

Category Nature of
Corporate
Experience Sector Years of
Experience
Requirement of having completed
the Experience criterion for Challenge Status
Corporate Financial
Services
One of the six
Financial Planning
components
3 Years Prior Experience before applying for Challenge Status
Other Financial
Services
5 Years Prior Experience before applying for Challenge Status
Non-
Financial
Services
Other Financial
Services
5 Years Prior Experience before applying for Challenge Status
Self Employed Financial Planning
Services, or
one or more Financial
Planning components
3 Years Prior Experience before applying for Challenge Status
Other Financial
Services
5 Years Prior Experience before applying for Challenge Status

Financial Services implies:

  • Financial Management
  • Asset Management
  • Risk Management
  • Insurance Planning
  • Tax Planning & Retirement Planning
  • Estate Planning

Other Financial Services implies:

  • Accounting including Fund Accounting in collective investment schemes and Audit
  • Financial Consulting, or Intermediation in Financial/Investment Products
  • Stock broking and trading services
  • Journalism in Personal Finance
  • Corporate Finance