Question to everyone who has passed the CFP exam

Glad I’m not the only one who thought it would be a great year to start the CFP course work.  I finish the courses in May, and was advised to take it in July. 

Couple of colleagues have told me don’t wait more than 2-3 months after you finish the course.  And of course, take a week off before the exam to cram, using the book/cd or one of the cram courses.

Glad I’m not the only one who thought it would be a great year to start the CFP course work.  I finish the courses in May, and was advised to take it in July. 

Couple of colleagues have told me don’t wait more than 2-3 months after you finish the course.  And of course, take a week off before the exam to cram, using the book/cd or one of the cram courses.

2 1/2 TO 3 MONTHS SHOULD work. Take the live review. Answer as many practice questions as you can. And if the review course provider offers practice exams, real simualted exams that take the full number of hours as the real exam, do that too. You will learn what you need to know in the live review, more than the courses that you took over the last two years
And the last two days or so, before the exam, dont study too heavy. You want to go in with a clear head.
Last thing - make sure you know the calculator backwards and forwards

chris-you study 50 HOURS PER WEEK and you’re not to the cramming part yet? wow. I am half done with classes too, but do about 10-20% of that. crap.

[quote=newnew]chris-you study 50 HOURS PER WEEK and you’re not to the cramming part yet? wow. I am half done with classes too, but do about 10-20% of that. crap.

Chris, If you’re averaging a 90 or more on your section exams, you’ll be just fine.  Honestly, I didn’t find the exam all that challenging, especially when comparing it to the CPA exam.  Perhaps I was older, wiser and better prepared, but I left ten hours of testing feeling like I really nailed the thing, and that was with probably 100 hours total in the review section and only completing the first two modules before I decided to challenge the exam. (a CPA designee can challenge without completing all the modules).  I may have barely passed for all I know, but I sure felt like I knew the material I was tested on and didn’t think it was overly complicated…not nearly as tough as my Kier practice review tests.

Indyone, just curious, do you use both designations or only one? (I believe in a previous thread you indicated a desire to only do taxes for “legacy” clients.) So is it Indyone, CFP or Indyone, CFP, CPA?

It’s Indyone, CPA, CFP.  Don’t know why that order…just sounded better to me.

[quote=Indyone]It’s Indyone, CPA, CFP.  Don’t know why that order…just sounded better to me.

Again, I only did the first two courses before I challenged the exam.  I’m guessing I had all of 100 hours in exam prep after I decided to challenge.

Did you use a prep company for the CPA exams?

I’m assuming you meant CFP, and if so, yes, I used the College for Financial Planning’s study guides (since I’d already paid for them), along with a friend’s Kier test bank CD.  I spent most of my time with the test bank CD…probably 70%, and found it tougher than the real thing.

Yes I did mean CPA.  I’ve reviewed the becker website and I believe it will be the one I use once I get the okay from the state to test.  I’m actually looking forward to diving into the material and taking my mind off the markets. 

[quote=ChrisVarick]

I will be done with my sixth course by the end of December. I was wondering how long it took you guys to actually study the review books/test bank questions/review class before you actually took the CFP exam?

I did about 15-hours of studying in addition to a week long review course.  I should have done more but I passed.  I give a lot of credit to Brett Danko and his training program (www.brettdanko.com).  Even if you didn’t take his courses, I highly suggest that you take his review course.  His materials are concise and the practice questions are fairly strong representations on what you will find on the exam.<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />

I find that the below approach is and effective way to study for the CFP® exam:

Quickly review the pre-study materials before the review course.  The goal is to get through the material, even if you don’t understand it all.  If you have time, go back through the materials again.

While in the review class, remove and put aside pages for the material you know.  Take notes on the materials that you don’t know.  You are now left with a smaller packet of materials to study.  Too many people make the mistake of studying the parts that they already know.

After the review class is over, make a quick pass though the now smaller packet of study materials.  Continue to remove the pages that you know.  Take practice exams and lookup what you got wrong on the exams.  Repeat this part of the process as much as necessary or for as long as you have time.

When it comes to extensive exams like the CFP®, it becomes more important to get though everything rather than try to understand every detail.  With the above approach, you will get through everything and will not be stuck knowing some sections really well and knowing very little about the other sections. 

--WM

[quote=WealthManager][quote=ChrisVarick]

I will be done with my sixth course by the end of December. I was wondering how long it took you guys to actually study the review books/test bank questions/review class before you actually took the CFP exam?

I did about 15-hours of studying in addition to a week long review course.  I should have done more but I passed.  I give a lot of credit to Brett Danko and his training program (www.brettdanko.com).  Even if you didn’t take his courses, I highly suggest that you take his review course.  His materials are concise and the practice questions are fairly strong representations on what you will find on the exam.<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />

I find that the below approach is and effective way to study for the CFP® exam:

Quickly review the pre-study materials before the review course.  The goal is to get through the material, even if you don’t understand it all.  If you have time, go back through the materials again.

While in the review class, remove and put aside pages for the material you know.  Take notes on the materials that you don’t know.  You are now left with a smaller packet of materials to study.  Too many people make the mistake of studying the parts that they already know.

After the review class is over, make a quick pass though the now smaller packet of study materials.  Continue to remove the pages that you know.  Take practice exams and lookup what you got wrong on the exams.  Repeat this part of the process as much as necessary or for as long as you have time.

When it comes to extensive exams like the CFP®, it becomes more important to get though everything rather than try to understand every detail.  With the above approach, you will get through everything and will not be stuck knowing some sections really well and knowing very little about the other sections. 

--WM

I used the kier books, and flashcards. I recorded 205 hours of total study time over about 3 months.

[quote=ChrisVarick]

Total, but the number can be deceptive.  Please remember that I went to the review course which was intensive.  I estimate that 5-hours of the 15 were pre-review course and the other 10 were post-review.  I also didn’t count time listening to audio versions of the flashcards that the instructor offered.  I listened to them for about 30-minutes each way to and from work for over a week.  I also continually reduced the number of flashcards that I listened to.<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />

With that said, I do truly believe that the review method that I posted is very effective.  Review only what you don’t know and be sure to get through every topic rather than know everything about some topics.

--WM

[quote=WealthManager][quote=ChrisVarick]

Total, but the number can be deceptive.  Please remember that I went to the review course which was intensive.  I estimate that 5-hours of the 15 were pre-review course and the other 10 were post-review.  I also didn’t count time listening to audio versions of the flashcards that the instructor offered.  I listened to them for about 30-minutes each way to and from work for over a week.  I also continually reduced the number of flashcards that I listened to.<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />

With that said, I do truly believe that the review method that I posted is very effective.  Review only what you don’t know and be sure to get through every topic rather than know everything about some topics.

--WM

[quote=ChrisVarick][quote=WealthManager][quote=ChrisVarick]

Total, but the number can be deceptive.  Please remember that I went to the review course which was intensive.  I estimate that 5-hours of the 15 were pre-review course and the other 10 were post-review.  I also didn’t count time listening to audio versions of the flashcards that the instructor offered.  I listened to them for about 30-minutes each way to and from work for over a week.  I also continually reduced the number of flashcards that I listened to.<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />

With that said, I do truly believe that the review method that I posted is very effective.  Review only what you don’t know and be sure to get through every topic rather than know everything about some topics.

--WM

[quote=ChrisVarick][quote=WealthManager][quote=ChrisVarick]

Total, but the number can be deceptive.  Please remember that I went to the review course which was intensive.  I estimate that 5-hours of the 15 were pre-review course and the other 10 were post-review.  I also didn’t count time listening to audio versions of the flashcards that the instructor offered.  I listened to them for about 30-minutes each way to and from work for over a week.  I also continually reduced the number of flashcards that I listened to.<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />

With that said, I do truly believe that the review method that I posted is very effective.  Review only what you don’t know and be sure to get through every topic rather than know everything about some topics.

--WM

[quote=ChrisVarick] 

[quote=deekay][quote=ChrisVarick][quote=WealthManager][quote=ChrisVarick]

Total, but the number can be deceptive.  Please remember that I went to the review course which was intensive.  I estimate that 5-hours of the 15 were pre-review course and the other 10 were post-review.  I also didn’t count time listening to audio versions of the flashcards that the instructor offered.  I listened to them for about 30-minutes each way to and from work for over a week.  I also continually reduced the number of flashcards that I listened to.<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />

With that said, I do truly believe that the review method that I posted is very effective.  Review only what you don’t know and be sure to get through every topic rather than know everything about some topics.

--WM

Let's bring this topic back up.  I'm planning to sit for the test this July.  Before I shell out some bucks for the study guides I thought I would ask the opinions of those of you who passed which one(s) are best.  My plan is to do a self-study and online.  I do not have the time to head out of town for a week or weekend for a crash course.  I do have two and a half months to study though.

I don't think it matters too awful much what material you use to study.  What is important, in my opinion, is a good in-person or at least a live on-line reveiw course.  Having someone walk you through what has been tested in the past and being able to ask that person a question was incredibly helpful for me.  I used the college for fin'l planning for both the coursework and reveiw.  My reveiw was 5 weeks (I think) of Monday/Wednesday/Friday for 3 hours a night.  It was led by an indy in Florida for the investments, an accountant for the accounting and an attorney for the estates.  Either way, good luck.

Does anyone know where i can buy a cd that contains practice questions for the cfp exam?

Kier CFP Review

I want to use the most inexpensive coursewoek out there for the cfp. Bryant university online self study $1700 then pay for a really good exam review. Either dalton at university of miami or Zahn. Think that is a good plan. Can you share what programs you used?

@infoe - I just passed the CFP in July on the first attempt. I used the Bryant University online self study and then used the 10 week Keir program. I didn’t want a 4 day “cram” review because I learn better over a longer period. The 10 week Keir program allowed for questions and replays if you missed a session. YMMV depending on your experience and background.

@beaglemeister

I am considering the Bryant University online course, you felt it prepared you enough?

[quote=AlpineBlue]@beaglemeister

I am considering the Bryant University online course, you felt it prepared you enough?[/quote]

If you are new to the industry, you may want to use the Bryant virtual classroom course for a deeper dive on the material. If you are going to do the profession justice, you need to learn the principles, not just “cruise through” the course.

On the other hand, if you have a few years in the business under your belt, you may want to take the self paced program and just get through it so you can get to the cram course. (This is what I did). The self paced program allows you to attack the material at your own pace, spending more time on your weak areas and “reviewing” the areas that you already have mastery of.

I recommend the 10 week Keir cram course as it definitely prepared me for the CFP exam without having to sit in a hotel room for 3 days. I did take a time off before the exam and study in a college library for about a week. Passed on the first try.