Master Reference

CFP Exam — Master Reference Guide Exam: CFP — Certified Financial Planner Last Updated: June 2026 --- ## Exam Format | Item | Detail | |---|---| | Total Questions | 170 (multiple choice) | | Sessions | Two 3-hour sessions (AM + PM) | | Passing Score | ~67% (approximately 114 correct) | | Question Style | Scenario/case-based; client-focused | | Calculator Allowed | Yes — financial calculator required | | Computer-Based | Yes — Prometric testing centers | --- ## Topic Weights (CFP Board Principal Knowledge Topics) | Domain | Weight | Questions (~) | |---|---|---| | Professional Conduct & Regulation | 8% | ~14 | | General Principles of Financial Planning | 15% | ~26 | | Risk Management & Insurance | 11% | ~19 | | Investment Planning | 17% | ~29 | | Tax Planning | 14% | ~24 | | Retirement & Employee Benefits | 18% | ~31 | | Estate Planning | 10% | ~17 | | Psychology of Financial Planning | 7% | ~12 | | Total | 100% | ~170 | > Study priority by weight: Retirement (18%) > Investment (17%) > Tax (14%) > General Principles (15%) > Insurance (11%) > Estate (10%) > Professional Conduct (8%) > Psychology (7%) --- ## The Financial Planning Process — 6 Steps (Highly Tested) | Step | Description | Key Exam Points | |---|---|---| | 1. Understanding the client's personal and financial circumstances | Gather qualitative and quantitative data | Subjective (goals, values) AND objective (statements, documents) | | 2. Identifying and selecting goals | Define priorities with client | Client's goals drive the plan — not planner's assumptions | | **3. Analyzing…