The Financial Planning Standards Council
(FPSC) has announced that in December, 1,015 candidates across Canada wrote the FPSC Level 1 Examination in Financial Planning and the CFP examination. And within that total, a record number of applicants sat for the CFP Exam.
According to the FPSC, 473 candidates took the CFP examination last month. That was the highest number since 2010, when the council implemented enhanced requirements to the CFP certification that included a two-stage exam, an FPSC-Approved Capstone Course and a three-year work experience requirement.
“We are pleased to see such a large the number of candidates seeking Certified Financial Planner certification―which represents the highest level of knowledge, skills and abilities in the financial planning profession,” said FPSC President and CEO Cary List.
The overall pass rate for the 473 CFP exam candidates was 64%. Among the 329 candidates who took it for the first time, 73% passed. Meanwhile, 43% of the 144 candidates reattempting the test passed it.
Of the 542 candidates who took the FPSC Level 1 exam in December, meanwhile, 69% passed. Four hundred and thirty-nine were first-time writers, among whom 72% passed. The pass rate for the 103 retaking the test was lower at 53%.
According to the FPSC, there are approximately 16,500 CFP professionals across Canada — part of a global community of more than 170,000 CFP professionals in 26 territories around the world.
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