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CFPCM Certification

CFPCM Certification:

The CERTIFIED FINANCIAL PLANNERCM Certification examinations have been designed by FPSB India to assess the ability to apply Financial Planning knowledge to real-life Financial Planning situations. CERTIFIED FINANCIAL PLANNERCM Certification examinations, you will be able to exhibit your level of competency to practice Financial Planning.


ELIGIBILITY CRITERIA

COURSE CONTENT

 


DURATION OF THE COURSE




ENROLLMENT ELIGIBILITY:

  • To enroll for CFPCM Certification and sit for the exams the minimum requirement is to have a Tenth Standard Degree (S.S.C., I.C.S.E, C.B.S.E any other equivalent degree)
  • To qualify as a CFPCM Certificant the minimum requirement is to clear all modules and:
  • Graduation Degree (Any field) + 3 years Work Experience

    •  

    or

     

  • Higher Secondary Education Degree or equivalent + 6 years work experience in any financial field
  • To qualify as an Associate Financial Planner (AFP) the minimum requirement is:
  • Clear any one Module of the CFPCM Certification
  • Tenth Standard Degree (S.S.C., I.C.S.E, C.B.S.E any other equivalent degree)
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Course Content

Introduction to Financial Planning - Module 1

This module serves as an introduction to financial planning broadly covering the following:
  • The six-step process financial planning
  • Client interactions
  • Code of Ethics
  • Time value of money applications
  • Personal financial statements
  • Cash flows and debt management
  • Asset acquisition
  • Education planning
  • Overview of risk management investment planning & retirement planning
  • Special circumstances
  • Plan integration ethics and business aspects of financial planning
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Insurance and risk management - Module 2 (Exam I)

This module exhaustively covers the knowledge requirements relating to:
  • Risk management and insurance decisions in personal financial planning.
  • Identifying client's exposure to mortality, heath, disability, property, liability, and long-term care risk is emphasized.
  • Selecting the apt risk management technique
  • Various Insurance Policies and Strategies:
  •  General Insurance
  •  Life Insurance
  •  Motor Insurance
  •  Medical Insurance
  •  Insurance of Business Risk
  • Regulation of Insurance
  • Insurance Pricing
  • Insurance Companies
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RETIREMENT PLANNING AND EMPLOYEE BENEFITS - Module 3 (Exam II)

This module emphasizes on the process of wealth creation and the retirement planning strategies for individuals. It broadly covers:
  • Retirement need analysis techniques
  • Development of retirement plans
  • Various retirement schemes such as:
  •  Employees Provident Fund (EPF)
  •  Public Provident Fund (PPF)
  •  Superannuation Fund
  •  Gratuity
  •  Other Pension Plans
  • Post-retirement counseling

This is an important and a critical module that every financial planner must have knowledge of, so that he can secure his clients' retirement.

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INVESTMENT PLANNING - Module 4 (Exam III)

This module discusses about the various investment vehicles and investment strategies required to execute any sound financial plan. The broad categories it includes are:
  • Risk Return Analysis
  • Mutual Funds
  • Derivatives
  • Asset Allocation
  • Investment strategies
  • Portfolio construction and management
  • Regulation of an Investment Advisor
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TAX PLANNING AND ESTATE PLANNING - Module 5 (Exam IV)

This module broadly covers the knowledge required by a CFPCM Professional to advise their clients on the various tax laws and tax planning tools, namely:
  • Income-tax computation for Individuals, Companies, Trusts and other bodies.
  • Capital Gains and Indexation
  • House Property
  • Deductions and Allowances
  • Non Resident Indian tax laws
  • Tax Management Techniques

Estate planning, the second section to this module, is also vital to any financial plan. It mainly covers:
  • Wills
  • Trusts
  • Indian Succession Act
  • Power of Attorney
  • Joint ownership of property

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ADVANCED FINANCIAL PLAN CONSTRUCTION - Module 6 (Exam V)

This module materializes the concepts learnt from the previous modules into a comprehensive financial plan constructed for individuals. It thoroughly explains the following aspects related to the construction of a financial plan:
  • Establishing client- planner relationships
  • Analyze Client Objectives, Needs and Financial Situation
  • Developing and presenting the financial plan
  • Implementing the financial plan
  • Monitoring the financial plan

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DURATION OF THE COURSE

The course can be completed within a span of 1year. Whereas, the maximum duration within which one has to complete the course is 7 years.

Exam Details

The examination will be centrally administered by the NCFM, National Stock Exchange of India, at centers and timings, which will be notified by the National Stock Exchange through the hall tickets to be sent to all registered candidates.

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Examination I, II, III, & IV

All the exams are for duration of 2 hours each.

A student can appear for the examination of maximum 2 modules at any point of time provided he is not re-appearing. There is no maximum limit in case of re-appearing for the examination of any module(s).



Paper Pattern
  • Multiple-choice examination; all questions designed to have a question body with 2 to 5 alternative answers.
  • Fully automated examination process. The candidates are expected to select the correct answer.
  • The marks for each question are provided along with the question.
  • Wrong answers will attract a negative marking of 20% of the marks assigned to the question.

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Permitted Accessories during the examination
  • MS Excel in the computers on which they take examinations. Proficiency with MS Excel, particularly the finance function formulae and calculations is essential.
  • Candidates are permitted to bring in their calculators-scientific/financial.
  • Candidates are expected to use only blue or black ballpoint pen or a pencil.
  • No exchange of accessories will be permitted during the examination.

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Examination Results

Results are processed on-line as soon as the candidate submits the paper and is declared within 7 working days of the examination

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Examination V (Advanced Financial Plan Construction)

 The examination will be administered by FPSB India, at centers and timings, notified by FPSB India

The duration for this examination is 4 hours.



Eligibility Criteria:

  • Completed his/her graduation successfully from a recognized university and
  • Cleared Module I, II, III, & IV of CFPCM Certification Program
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Examination Results

Module VI examination shall involve case study/studies and will be conducted offline. The candidates will be expected to answer/solve the cases given in their respective answer sheets. The candidates will be evaluated based on the following learning objectives:
  • Determining the client's financial status by analyzing and evaluating the client's information
  • Developing and preparing a client-specific Financial Plan tailored to meet the goals and objectives of client, commensurate with client's value, temperament, and risk tolerance (including asset allocation)

The candidates are expected to know the terms and basic information on Key Financial Products (Mutual Funds, Insurances, Bonds etc.) available in the market. They would be expected to utilise this knowledge to determine the solution of questions asked. Results for Module VI will be declared within 30 days of the examination.

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Permitted Accessories during the examination:
  • MS Excel in the computers (provided at the center) on which they take examinations. Proficiency with MS Excel, particularly the finance function formulae and calculations is essential.
  • Candidates are permitted to bring in their calculators-scientific/financial.
  • Candidates are expected to use only blue or black ballpoint pen or a pencil and if required, may use color pencils for any graphical depiction (Sketch pens or ink pen should be avoided).
  • Candidates may bring their geometric tools like compass, scale, etc
  • No exchange of accessories will be permitted during the examination

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Evaluation System

A candidate who scores 50% or more will pass the examination.

Grade

Score(Percentage)

A

Equal and above 75%

B

Between - Equal & above 60% and less than 75%

C

Between - Equal & above 50% and less than 60%


The FPSB India examinations in India will not provide candidates with scores. Given the aspirational needs of the candidates, grades will be provided on the scorecard instead. This system is to enable an aspirational value for Grade A, denoting exceptional performance and a below average differentiation for Grade C. Grade B will include the majority of the successful candidates in the examination.

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Already a Qualified Professional? Appear for the ‘Challenge Status Program’


The CERTIFIED FINANCIAL PLANNERCM Certification is attracting the attention of a wide cross section of the student and professional community in India. There have been expressions of interest from professionals as diverse as:


Chartered Accountants, Masters of Business Administration, Engineers etc. as well as from persons employed with some of the biggest financial service organizations in the country.


Financial Planning Standards Board (FPSB) India recognizes that these professionals have their hectic schedules which will not permit them to devote adequate time for academics. In order to give them an opportunity a fast track Certification Program is available, which is called the Challenge Status Programme.

Candidates who meet the eligibility criteria (see below) have to appear only for a single 4 hour paper, instead of appearing for all 5 modules.

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Associate Financial Planner (AFP)

On successfully completing a single module, the applicant is qualified as an AFP.

Membership Benefits & Services recognized by the Financial Planning Standards Board of India:
  • Certificate conferring the award of the mark.
    Certificants may use the mark as follows:
    AFP
    Associate Financial Planner
    E.g. Mr. Sachin Ganguly, AFP
    Mr. Sachin Ganguly, Associate Financial Planner
  • Name published on online AFP Membership directory
  • Subscription to Financial Planning Journal
  • Reflects your professional standards as a competent Financial Planning professional
  • Discounts offered in various events & seminar
  • Networking with global Financial Planners forum
  • You can earn more by increasing your product offering to your client
  • You become a coach and problem solver
  • Your career and professional development opportunities are enhanced
  • Your professional standards reflect your enhanced social status

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Nurturing Your Aspirations

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