TITLE

Pass/Fail? No, Pass Score!

AUTHOR(S)
Heling, Bruce; Mayo, Rick; Jeffery, Bobbi; Moisand, Dan
PUB. DATE
August 2002
SOURCE
Journal of Financial Planning;Aug2002, Vol. 15 Issue 8, p18
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article highlights the author's experiences as a member of the Pass Score Committee for the Certified Financial Planner (CFP) Certification Examination. For many people who take the CFP Certification Exam, perhaps one of the most frustrating aspects of the entire process stems from the inability of the exam-taker to receive a grade. Throughout our schooling, we are taught that we pass or fail based on a certain score. When the CFP Board moved toward a single, comprehensive competency exam, they also used state-of-the art statistical analysis in the world of certification and licensure testing. But in the process of adding greater credibility to the exam process, they also begat great confusion among many financial planners. Each CFP exam consists of about 285 questions, with about 45 of those related to three separate case studies. The case study questions are worth three points each, and all other multiple choice questions are worth two points each. On any given exam, there are approximately 615 potential points--but the total number of potential points is not really relevant to who passes and who fails. This is where the Pass Score Committee comes into play. They determine what the minimally competent CFP certificant would know in order to practice on his or her own before the public. The Pass Score Committee was guided by professionals from The Channcey Group of International, a subsidiary of Educational Testing Services.
ACCESSION #
7179987

 

Related Articles

  • Continuing Education.  // Journal of Financial Planning;Aug2002, Vol. 15 Issue 8, p105 

    This section presents a continuing education examination for financial planners.

  • CFP Board Celebrates 30th Anniversary. Rojeck, Rich // Journal of Financial Planning;Jul2015, Vol. 28 Issue 7, p10 

    The article focuses on the development of Certified Financial Planner (CFP) certification program by CFP Board in pursuit of competent personal financial planning. As a designation for personal financial advice providers, the certification allows financial planning to achieve broad industry and...

  • Global Information Assurance Certification: Securing Today and Tomorrow. Northcutt, Stephen // Certification Magazine;Oct2005, Vol. 7 Issue 10, p28 

    This article focuses on the Global Information Assurance Certification (GIAC) program established by the SANS Institute in 1999. The purpose of GIAC is to provide assurance that certified individuals hold the appropriate levels of knowledge and skill necessary to practice in key areas of...

  • Take ABC Exams at 2016 ABI Events. GILMORE, DIAN // ABI Journal;Jan2016, Vol. 35 Issue 1, p42 

    The article announces the schedules of the 2016 examination of the organization the American Board of Certification (ABC). The topics discussed include the privilege given to applicants who cannot travel, the fees to be paid by the applicants, and the chart showing the dates of the examinations...

  • Taking (Some of) the Mystery Out of the CFP Certification Examination. Ashby, J. David // Journal of Financial Planning;Nov2001, Vol. 14 Issue 11, p108 

    The scoring process used in the CFP Certification Examination and the subsequent results reported to candidates are often confusing and provide little information as to how the exam is graded. Even those teaching in the financial planning educational programs across the country don't have a good...

  • AMP planners go back to school. Kelly, Ross // Money Management;10/7/2004, Vol. 18 Issue 37, p4 

    Focuses on the decision of AMP Financial Planning to require its representatives to pass an examination to continue practicing in Australia. Assurance of the relevance of the knowledge of financial planners; Benefit of the accreditation programs.

  • Could you be a Certified Financial Planner?  // Banking Ireland;Spring2011, Vol. 115 Issue 1, p21 

    The article looks at the Certified Financial Planner (CFP) designation in Ireland. It notes that the designation marks the CFP professional as an ethical, knowledgeable, competent, and professional to the highest global standards. It also mentions that Financial Planning Standards Board (FPSB)...

  • For he's a jolly good fellow. North, Kim // Money Marketing;7/28/2005, p48 

    Presents a question and answer advisory on finding a highly-qualified financial adviser. Need for all financial advisers to have obtained the Certificate in Financial Planning before they can provide client-specific advice; Collaboration of the Financial Services Skills Council with examining...

  • THE IFP VIEW. Cann, Nick // Money Marketing;2/10/2005, p34 

    The author in this article states that a couple of things have happened over the last couple of weeks that have both interested and frustrated him at the same time. Widespread commentary about the new certificate in financial planning launched by the CII is widely seen. This is good news, in as...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics