*All information currently under review by FPSB Ltd. and subject to change by 31 March 2020

**NOTICE TO THOSE SITTING FOR EXAM 4 (Tax Planning & Estate Planning), and EXAM 5 (Advanced Financial Planning):  The applicable Assessment Year shall be AY 2020 – 2021 (pertaining to the Financial Year 2019 – 2020) for the questions involving knowledge of Income Tax Rules and its application in finding appropriate solutions for clients under the Income-tax Act, 1961. The change to AY 2020 – 2021 would be applicable to the examination content with effect from 1st day of June, 2020.

Overview
Examination Pattern (Exam 1 to 5)
Examination Pattern (Exam 5)
Permitted Accessories
Examination Enrollment Process (Exam 1 to 5)
Examination Results
Sample Papers (Exam 1 to 4)
Sample Papers and Case Studies (Exam 5)

Overview

Students who register for the CFPCM certification program must fulfill the education program requirements to be eligible to appear for CFP examinations. The education requirements prescribed by FPSB Ltd. ensure a candidate develops the necessary skills and knowledge to become a successful financial planner.
Exam Name Modules Tested Exam Date Duration Exam Language Enrollment Through Regular Pathway Challenge Status Pathway
Exam 1 Risk Analysis & Insurance Planning + Introduction to Financial Planning Daily (Mon-Sat) 2 Hrs English NSE Website
Exam 2 Retirement Planning & Employees Benefits + Introduction to Financial Planning Daily (Mon-Sat) 2 Hrs English NSE Website
Exam 3 Investment Planning + Introduction to Financial Planning Daily (Mon-Sat) 2 Hrs English NSE Website
Exam 4 Tax Planning & Estate Planning + Introduction to Financial Planning Daily (Mon-Sat) 2 Hrs English NSE Website
Exam 5 Advanced Financial Planning Daily (Mon-Sat) 4 Hrs English NSE Website

Examination Pattern (Exam 1 to 4)

The questions are based on respective modules of the CFP certification curriculum.
Candidates will answer a multiple-choice, objective-type examination administered online by NSE Academy.
All questions are designed to have a question body with four alternative options.
There is no negative marking.
The following is the question paper pattern (NOTE: One-fifth of the marks will be allotted in each of Exam 1 – 4 to the module, “Introduction to Financial Planning”):
Type of Questions Number of Questions Total Marks
1 Mark 38 38 Marks
2 Mark 15 30 Marks
3 Mark 14 42 Marks
4 Mark 10 40 Marks
Total 77 150 Marks
The following grading system will be used to provide grades:
Grade Score (Percentage)
A Equal and above 75%
B Equal and above 60% and less than 75%
C Equal and above 50% and less than 60%
Fail Less than 50%

Examination Pattern (Exam 5)

  • FPSB Ltd. will upload to this website probable case studies, out of which any two will be asked on the examination.
  • The case studies depict real-life scenarios of individual financial planning situations.

  • Each question will carry pre-specified marks for each correct answer.

  • Students will be evaluated based on the following learning objectives:

    • Determining the client’s financial status by analyzing and evaluating the client’s information.

    • Comprehending and analyzing client-specific situations and selecting the best solution among the given options. This entails a thorough and sound understanding of the CFP certification curriculum, covering all the modules (Module I to Module VI).

  • The following is the question paper pattern for each of the two case studies to be asked in Exam 5/CSP:

Pattern of Questions in a Case Study
Module I Module II Module III Module IV Module V
No_Items Marks No_Items Marks No_Items Marks No_Items Marks No_Items Marks
Marks Category 2 2 4 1 2 0 0 1 2 1 2
3 1 3 1 3 1 3 0 0 1 3
4 0 0 1 4 0 0 1 4 0 0
5 0 0 0 0 1 5 2 10 1 5
Total 3 7 3 9 2 8 4 16 3 10
  • A student who scores 50% or higher will pass the examination and anyone who scores below 50% (exclusive) will fail the examination.
  • There is no negative marking in the examination.
  • Successful students in the CFP examination are not given their scores or ranks as practiced in most international professional certification examinations. However, given the aspiration needs of these students, grades will be provided to those who are successful. Unsuccessful students will get their marks in percentage terms along with the result.
  • The following grading system will be used to provide grades:
Grade Score (Percentage)
A Equal and above 75%
B Equal and above 60% and less than 75%
C Equal and above 50% and less than 60%
Fail Less than 50%

Permitted Accessories

  • Students are permitted to use their own calculators (regular, scientific or financial). No exchange of accessories will be permitted during the examination. Students will also have access to MS Open Office and the calculator widget in the computers provided by NSE. Kindly note:
    • Students should not carry with them a hard copy of the case studies uploaded to this website, or any other printed or handwritten papers into the examination hall.
    • Students are not allowed to carry a laptop, palmtop, log tables, annuity tables, etc.
    • Students are not allowed to use a calculator on their mobile phone.
    • Mobile phones must be kept in the “switched off” mode during the examination.

Examination Enrollment Process
(Exam 1 to 5)

  • Login: Login to the NSE exam portal using your NCFM username and password.
  • Availability: Check for seat availability.
  • Payment: Submit payment directly to NSE on the online platform.
  • Enrollment: Schedule your examination online i.e. name of the Exam, date, time, venue.
  • Students are eligible to schedule any of Exam 1 – 4 online; after passing all four exams, a candidate is eligible to schedule Exam 5 online.
  • After enrolling for an exam, students will receive emails and SMS alerts from NSE on their registered email IDs and cell numbers. Students are advised to upload their photos on their NCFM registration form, if not already done. It is advisable to bring one’s photo ID to the examination centre.

Examination Results

Results will be declared by the system itself once the student clicks the ‘Submit’ button after completing the examination. If the examination duration has elapsed, the system will treat the answer sheet as submitted, and results will be declared on the screen. Students will receive a printout of their result at the test centre after the examination (note that only grades will be provided).

Sample Papers (Exam 1 to 4)

CFPCM Certification – Exam 1-4 Sample Papers

Sl. No Sample Paper (SP) Working Notes (WN)
1 Exam 1 / RAIP Solutions
2 Exam 2 / RPEB Solutions
3 Exam 3 / IP Solutions
4 Exam 4 / TPEP Solutions
5 Additional Questions / RAIP_RPEB Solutions

Sample Papers and Case Studies (Exam 5)

CFPCM Certification – Exam 5 / CSP

Sl. No. Sample Paper (SP) Working Notes (WN)
1 SP – -1 WN – -1
2 SP – -2 WN – -2

Probable Case Studies – Exam 5 / CSP

Sl. No Case Studies Date Uploaded
1 Case A 05-October-2018
2 Case B
05-October-2018
3 Case C 05-October-2018
4 Case D 05-October-2018
5 Case E 05-October-2018

View the complete syllabus