Anyone around here taken the test or a certificant? The results of the March test I took were mailed out Tuesday. I'm watching for the mail to be delivered. Very nervous.
I took and passed the CFP exam. I found the exam hard. When I took it, there was < 60% pass rate. Just remember "fairness" is a key principle of Certified Financial Planner Board of Standards. /sarcasm
Yeah, the pass rate has been averaging 50% lately. How long ago? The exam is hard in the fact that you can know the information backwards and forwards, and they still ask some off the wall question in a way you have never thought of. If I didn't pass, I will be very discouraged because I couldn't have been more prepared.
I took the CFP test in the summer of 2004. I learned in the review course, that I took, that the pass was historically (then) less than 60%. For the test I took, the pass rate was something like 52%, which is just flat out unfair. I knew some strong students who failed and had to sit again. Since I passes the test, The Board has bumped the experience requirement. IMO more unfairness. After the test, I looked for an intern position and failed to find one. Most of the jobs openings were sales positions, i.e. the transaction side of the business versus the wealth/asset management side.
I am not too familiar with the designation, but I thought the CFA was a better credential for asset management?
CFP is more incorporating financial plans, laws, estate planning, retirement plans. CFA is more analysis.
People with CFAs get well paid to construct equity portfolios. Equity mutual funds, for one, hire CFAs.
