CFP (Certified Financial Planner) Exam Survival Guide

Window: Global (board-specific rules) | Domains: FP process, Insurance, Investments, Tax, Retirement, Estate, Ethics

Must-do topics

• Ethics & FP process: fiduciary duty, conflicts, scope, data gathering, goal setting, plan delivery & monitoring
• Risk/Insurance: life/health/DI/LTC; needs analysis (HUMAN LIFE/VALUE vs capital retention), policy types, riders
• Investments: asset allocation, risk/return, CAPM basics, funds/ETFs, rebalancing, behavioral biases
• Tax planning: filing status, deductions/credits, basis, capital gains, small-business taxation
• Retirement: accumulation vs distribution, Social Security/PF/EPF analogs, annuities, required distributions
• Estate: wills, trusts, titling, beneficiary designations, gift/estate tax basics, portability

Top traps (avoid)

• Recommending products before completing risk analysis + suitability
• Confusing needs vs wants in cash-flow prioritization
• Ignoring tax consequences (basis, holding period, NIIT) in rebalancing
• Estate plan: naming estate as beneficiary when not appropriate

Time split

• 140–170 Q (varies by board) → ~1–1.2 min/Q
• First pass: ethics/definitions/scenario intent → second pass: calcs

Last-48h checklist

• Ethics decision tree; disclosure checklist
• Insurance needs calc examples; riders cheat sheet
• Retirement vehicles limits & withdrawal rules
• Estate documents quick map: will, POA, HC proxy, trusts

Quick facts

• Emergency fund: 3–6 months core expenses (more for unstable income)
• Sequence-of-returns risk matters most at retirement start
• Tax location: place bonds in tax-deferred; equities in taxable (context-dependent)
• Beneficiary designations override will provisions

Speed tactics

• Map scenario → domain (risk, tax, retire, estate) → pick tool
• Eliminate options violating fiduciary duty or suitability
• When torn, choose the plan that documents, discloses, and diversifies

Day-of mini-plan

• 10-min ethics warm-up + 5 quick calcs (insurance need, PV, rebalancing)
• Pace checkpoints every 30 Q; reserve 10 min for flagged items