Factors Associated with Success on the CFP Certification Examination
DOI:
https://doi.org/10.61190/fsr.v12i2.4758Abstract
We surveyed examinees from three administrations of the CFP Certification Examination. Factors that are statistically significantly associated with passing the exam include primary business activity; highest degree earned; undergraduate GPA; the CPA, Enrolled Agent, and securities licenses or designations; and being a personal financial planning practitioner. Other studies have identified associations between CPA exam success and both highest degree earned undergraduate GPA. We are not aware of other studies that have established a relationship between experience in the field and success on the related professional exam. Interestingly, employer incentives for candidates, including bonuses, raises, and promotions, do not have a significant impiict on pass rates.
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