Are you preparing for the Certified Financial Planner (CFP) exam? Congratulations! This is a crucial step in your career as a financial planner. However, the CFP exam is not a walk in the park. It requires a lot of dedication, commitment, and thorough preparation. Thankfully, you don’t have to go through this journey alone. There are several study resources available to help you ace the CFP exam.
Here are the top 5 study resources that you should consider using.
First on the list is Kaplan Financial Education. Kaplan is a leading provider of financial education and exam preparation services. They offer a comprehensive CFP exam prep course that covers all the topics tested on the exam. The course includes live instruction, study materials, practice questions, and mock exams. With Kaplan, you’ll have access to experienced instructors who will guide you through the exam preparation process. Plus, you can choose from different study options, including online, self-paced, and in-person classes.
Key Takeaways
- Kaplan Financial Education, Dalton Education, Zahn Associates, Wiley, and CFP Board are the top 5 study resources for the CFP exam.
- Effective study strategies include flashcards, study groups, textbooks, comprehensive study resources, additional practice problems and exercises, online courses, study guides, and practice exams.
- Choosing resources specifically designed for the CFP exam is most helpful, and seeking help from instructors or study groups is recommended.
- Comprehensive study resources provide detailed explanations and practice questions, and in-depth analysis of key concepts helps to truly understand the material.
Kaplan Financial Education
Kaplan’s study materials are a must-have for passing the CFP exam, with their comprehensive guides and practice questions.
Their study materials cover all the topics that you need to know for the exam, and they are well-organized and easy to understand. The guides are written in a clear and concise manner, with plenty of examples and practice questions to help you master the material.
In addition to their study guides, Kaplan also offers online courses and live review classes. These courses provide a more interactive learning experience, with live instructors and the ability to ask questions and interact with other students.
With Kaplan’s study materials and courses, you’ll have everything you need to prepare for the CFP exam and feel confident on exam day.
Dalton Education
You’ll love how Dalton Education’s study materials make learning for the CFP exam feel like a breeze. With over 25 years of experience in providing financial planning education, Dalton Education has become a trusted resource for many aspiring CFP professionals.
Their study materials are designed to help you not only pass the exam but also become a competent and successful financial planner. Here are some reasons why Dalton Education is a great option for your CFP exam preparation:
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Interactive Learning: Dalton Education’s study materials are designed to be interactive and engaging. Their online review courses are taught by experienced instructors who use real-life scenarios to help you understand complex financial planning concepts.
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Comprehensive Study Materials: Dalton Education’s study materials are comprehensive and cover all topics tested on the CFP exam. They offer various study packages that include textbooks, online review courses, and practice exams.
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Flexibility: Dalton Education understands that everyone has different study preferences and schedules. That’s why they offer various study packages that cater to different learning styles and needs. You can choose from self-study options or live online review courses that fit your schedule.
Investing in Dalton Education’s study materials will not only prepare you for the CFP exam but also equip you with the knowledge and skills needed to succeed as a financial planner.
Certified Financial Planner Board of Standards (CFP Board)
If you’re preparing for the CFP Exam, the Certified Financial Planner Board of Standards (CFP Board) offers some key resources to help you succeed.
First, there are the Official Exam Prep Materials, which include study materials and online courses to help you prepare.
Additionally, the CFP Board offers Practice Exams to help you get a feel for the test format and assess your readiness.
Finally, the Candidate Forum provides a space for you to connect with other candidates and ask questions about the exam.
Official Exam Prep Materials
The Official Exam Prep Materials are a must-have for anyone serious about passing the CFP exam. These materials are designed by the CFP Board and are updated regularly to reflect changes in the exam content. The materials include a study guide, practice questions, and mock exams.
To give you an idea of what to expect from the Official Exam Prep Materials, here is a table that compares the benefits of using these materials versus other study resources:
| Official Exam Prep Materials | Other Study Resources | |
|---|---|---|
| Content Updated Regularly | ✔️ | ❌ |
| Designed by CFP Board | ✔️ | ❌ |
| Includes Mock Exams | ✔️ | ❌ |
| Trusted by Professionals | ✔️ | ❌ |
As you can see, the Official Exam Prep Materials stand out from other study resources for their reliable content, regular updates, and professional endorsement. Investing in these materials is a smart choice if you want to increase your chances of passing the CFP exam.
Practice Exams
Don’t underestimate the value of practice exams when preparing for the CFP certification. These exams simulate the real testing environment and help you identify your strengths and weaknesses, allowing you to focus your study efforts where they are needed most.
Here are three practice exams that you should consider using in your preparation for the CFP exam:
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Kaplan Financial Education: Kaplan offers a variety of practice exams for the CFP certification that simulate the actual exam environment. These exams provide detailed feedback on your performance and help you identify areas where you need to improve.
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Dalton Education: The Dalton Review offers practice exams that are designed to help you prepare for the CFP exam. These exams mimic the actual testing conditions and include detailed answer explanations to help you understand the concepts and formulas that are being tested.
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Exam Prep Review: Exam Prep Review offers a variety of practice exams for the CFP certification. These exams are designed to help you identify your strengths and weaknesses and provide detailed feedback on your performance. They also include a study mode that enables you to review questions and answers at your own pace.
Candidate Forum
Get ready to connect with other CFP candidates and discuss the exam in the Candidate Forum!
The Candidate Forum is a great resource for those preparing for the CFP exam. It provides a platform for candidates to share their experiences, ask questions, and receive support from their peers. You can access the Candidate Forum through the CFP Board website, and it’s free for all candidates to use.
By participating in the Candidate Forum, you’ll be able to connect with other candidates who are going through the same process as you are. You can exchange tips and strategies, discuss difficult concepts, and even form study groups.
Additionally, the Forum is monitored by experienced CFP professionals who can provide guidance and answer any questions you may have. Overall, the Candidate Forum is a valuable resource for those preparing for the CFP exam. It can help you feel more confident and prepared for exam day.
Investopedia
You’ll love using Investopedia to study for the CFP exam because it offers in-depth explanations and examples of complex financial concepts. The website is well-known for its educational content on finance and investing, and it has a dedicated section for the CFP exam. Here are three reasons why Investopedia is a great resource for your exam preparation:
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Investopedia covers all the topics that are tested on the CFP exam, such as financial planning, retirement planning, estate planning, tax planning, and more. You can find detailed articles, videos, and tutorials on each topic, along with practice questions and quizzes to test your knowledge.
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The website is easy to use, with a clean layout and intuitive navigation. You can browse the topics by category or use the search bar to find specific information. The articles are written in plain language, making complex concepts easier to understand.
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Investopedia has a mobile app that you can download for free on your smartphone or tablet. This allows you to study on-the-go, wherever you are. The app has all the same features as the website, including articles, videos, and practice questions.
Investopedia is a valuable resource that can help you prepare for the CFP exam. With its comprehensive coverage, user-friendly interface, and mobile app, you’ll have all the tools you need to succeed.
American College of Financial Services
The American College of Financial Services is a prestigious institution that offers a range of financial planning programs and certifications for professionals in the industry. One of their most popular programs is the CFP Certification Education Program, which is specifically designed to prepare individuals for the CFP exam.
The program is offered online and includes comprehensive study materials, interactive learning tools, and access to experienced instructors who can answer any questions you may have. In addition to the CFP Certification Education Program, the American College of Financial Services offers a wide range of other study resources that can help you prepare for the exam.
These resources include study guides, flashcards, practice exams, and more. The institution is also known for its high-quality research and publications, which can provide valuable insights into various financial planning topics that may be covered on the exam.
Overall, the American College of Financial Services is a great resource for anyone looking to prepare for the CFP exam, whether you’re just starting out in the industry or you’re a seasoned professional looking to take your career to the next level.
CFP Flashcards
One effective way to enhance your knowledge and retention of key financial planning concepts is through the use of CFP flashcards. These cards contain bite-sized pieces of information that are easy to memorize and recall.
They are also portable, which means you can bring them with you wherever you go and use them to review important concepts during your downtime. CFP flashcards are available from a variety of sources, including online study programs, study guides, and independent publishers.
They cover a wide range of topics, such as retirement planning, tax planning, estate planning, and risk management. By using these flashcards regularly, you can reinforce your understanding of key concepts and increase your chances of passing the CFP exam.
So if you’re looking for a convenient and effective way to study for the CFP exam, be sure to consider using flashcards as part of your study routine.
Study Groups
If you’re looking for a way to enhance your CFP exam preparation, consider joining a study group. Collaborating with peers can help you stay motivated and accountable, while also providing a space to share study materials and discuss key concepts.
By reviewing and discussing the material with others, you’ll gain a deeper understanding of the concepts and be better prepared for the exam.
Collaborate with Peers
You’ll benefit greatly from working together with your peers to prepare for the CFP exam. Collaborating with fellow exam takers can provide a wealth of knowledge and resources that you might not have access to on your own. Here are three ways to make the most out of your collaborative efforts:
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Divide and conquer: Divide the study material amongst your peers and create a schedule to keep each other accountable. This will ensure that everyone is on track and has covered all the necessary topics.
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Quiz each other: Conducting mock exams and quizzes with your peers can help you assess your knowledge and identify areas that need improvement. This will also give you a chance to learn from each other’s strengths and weaknesses.
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Discuss difficult concepts: Some concepts may be difficult to grasp on your own. Discussing these concepts with your peers can provide different perspectives and help you understand them better. This will also give you an opportunity to share your own insights on topics that your peers may find challenging.
Share Study Materials
Sharing study materials with peers is a great way to expand your knowledge base and gain new insights into the material. Not only can you benefit from their knowledge, but you can also help them with areas where you excel. This can create a more dynamic and collaborative study environment that can ultimately lead to better results on the CFP exam.
When sharing study materials, it’s important to be organized and clear about what you’re sharing. Make sure you’re sharing accurate and up-to-date information and that you aren’t violating any copyright laws. You can share materials through email, online study groups, or even in person.
By sharing study materials with your peers, you can create a supportive network that can help you achieve your goals and succeed on the CFP exam.
Review and Discuss Key Concepts
Now that you have shared your study materials with others, it is time to review and discuss key concepts for the CFP exam. This is an important step to ensure that you fully understand the material and can apply it correctly on the exam.
To help you with this step, we have compiled a list of the top 5 study resources for the CFP exam. These resources will provide you with comprehensive coverage of the exam topics, as well as practice questions and exams to test your knowledge. Take a look at the table below to see a quick overview of each resource before we dive into more detail.
| Resource | Description | Price |
|---|---|---|
| Kaplan | Offers live and online courses with experienced instructors | $1,299 – $1,799 |
| Dalton Education | Provides online self-study courses with quizzes and exams | $1,295 – $1,595 |
| Zahn Associates | Includes online courses and study materials with a 100% pass guarantee | $1,295 – $1,795 |
| Wiley | Offers comprehensive study materials with online courses and practice questions | $1,295 – $1,795 |
| CFP Board | Provides official study materials and practice exams | $695 – $1,295 |
By reviewing and discussing key concepts using these top study resources, you will be well on your way to passing the CFP exam and achieving your certification. Don’t be afraid to ask questions and seek help from instructors or study groups along the way. Good luck!
Textbooks
When preparing for the CFP exam, textbooks are essential resources for you. They offer comprehensive coverage of exam topics, providing you with a deeper understanding of the material.
In addition, they offer in-depth analysis of key concepts, helping you to identify areas where you need to focus your study efforts. Moreover, textbooks often come with additional practice problems and exercises, giving you ample opportunities to test your knowledge and reinforce your understanding.
Comprehensive Coverage of Exam Topics
You’ll benefit greatly from using study resources that provide comprehensive coverage of all the topics on the CFP exam. These types of resources are designed to help you fully understand the concepts and principles that will be tested on the exam. They also ensure that you won’t miss any important topics or areas of study that could appear on the exam.
Comprehensive study resources can come in many forms, such as study guides, online courses, and review books. These resources typically include detailed explanations of key concepts, practice questions, and other helpful tools to help you prepare for the exam.
By using these resources, you’ll be able to identify areas where you need to focus your study efforts and ensure that you’re fully prepared for the exam.
In-Depth Analysis of Key Concepts
To truly grasp the material on the CFP exam, it’s essential that you delve into an in-depth analysis of the key concepts. This means going beyond a surface-level understanding of the topics and really getting into the nitty-gritty details.
Here are three reasons why this is so important:
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It helps you to truly understand the material: By taking the time to analyze key concepts in depth, you’ll gain a deeper understanding of the material. This will enable you to remember it more easily and apply it in a practical setting.
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It prepares you for the exam: The CFP exam is known for being challenging, and it requires a high level of knowledge and understanding. By conducting an in-depth analysis of key concepts, you’ll be better prepared to tackle the exam and answer questions with confidence.
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It sets you apart from other candidates: By demonstrating a strong understanding of the material, you’ll set yourself apart from other candidates who may only have a surface-level understanding of the concepts. This can give you a competitive edge when it comes to job opportunities and career advancement.
Additional Practice Problems and Exercises
Don’t overlook the importance of incorporating additional practice problems and exercises into your study routine if you want to solidify your understanding of the key concepts.
While in-depth analysis of key concepts is crucial, putting what you’ve learned into practice is equally important. Doing practice problems and exercises will help you identify any areas where you may be struggling and give you the opportunity to work on those weaknesses.
There are many resources available for extra practice problems and exercises, including online courses, study guides, and practice exams. Make sure to choose resources that are specifically designed for the CFP exam, as these will be the most helpful in preparing you for the actual test.
By dedicating time to practicing problems and exercises, you’ll not only improve your knowledge and skills, but you’ll also boost your confidence in your ability to pass the exam.
Frequently Asked Questions
How long does it typically take to prepare for the CFP exam?
To prepare for the CFP exam, it typically takes a few months of dedicated studying. The exact amount of time needed will depend on your level of knowledge and experience in the financial planning field.
On average, most candidates spend around 200-300 hours studying for the exam. This includes reading through study materials, completing practice exams, and reviewing any areas of weakness.
It’s important to create a study schedule and stick to it, as well as to take advantage of any study resources available to you. With enough preparation and hard work, you can pass the CFP exam and become a certified financial planner.
Are there any specific prerequisites or qualifications required to take the CFP exam?
To take the CFP exam, there are certain prerequisites and qualifications that you must meet. Firstly, you need to have a bachelor’s degree or higher from an accredited institution.
You also need to have completed a registered program in personal financial planning or hold certain professional designations such as CPA, ChFC or CFA.
In addition to that, you need to have at least three years of professional experience related to financial planning.
Once you meet these qualifications, you can register for the CFP exam and start preparing for it using various study resources.
Can you take the CFP exam online or is it only available in-person?
You can take the CFP exam online or in-person. The exam is administered by the Certified Financial Planner Board of Standards and can be taken at various testing centers across the country, as well as online through a remote proctoring system.
However, it’s important to note that there are certain technical requirements and guidelines that must be followed in order to take the exam online. Be sure to carefully review the CFP Board’s instructions and guidelines before scheduling your exam.
How often can you retake the CFP exam if you don’t pass it on the first try?
If you don’t pass the CFP exam on your first attempt, you can retake it as many times as needed. However, you must wait at least 30 days before taking the exam again.
Additionally, you should review your study materials and identify areas where you need to improve. Consider using different study resources or seeking additional support from a CFP professional or study group.
With dedication and persistence, you can pass the CFP exam and achieve your goal of becoming a certified financial planner.
Are there any discounts or financial assistance available for CFP exam preparation materials or the exam fee itself?
If you’re wondering whether there are any discounts or financial assistance available for CFP exam preparation materials or the exam fee itself, the answer is yes.
Some companies or organizations offer discounts or reimbursements for CFP exam fees to their employees. Additionally, the CFP Board has a scholarship program for individuals who meet certain eligibility criteria.
As for exam preparation materials, some providers offer discounts or payment plans for their study resources. It’s worth doing some research and reaching out to these companies or organizations to see what options are available to you.
Conclusion
So there you have it, the top 5 study resources for the CFP exam. From traditional textbooks to flashcards and study groups, there are plenty of options to choose from to help you prepare for the exam.
Kaplan Financial Education and Dalton Education offer comprehensive study packages, while the Certified Financial Planner Board of Standards provides official study materials. For those looking for a free option, Investopedia offers a wealth of information and resources to supplement your studies.
It’s important to remember that everyone learns differently, so it’s worth trying out a few different resources to find what works best for you. Don’t be afraid to reach out to fellow CFP candidates and form study groups, as this can be a great way to stay motivated and accountable.
With dedication and the right resources, you can pass the CFP exam and take the next step in your financial planning career. Good luck!
