CFP Certified Financial Planner Test Prep

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| By Gregorynaomi

Gregorynaomi

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Quizzes Created: 1463 | Total Attempts: 756,371

Questions: 10 | Attempts: 178 | Updated: Mar 22, 2023

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CFP Certified Financial Planner Test Prep - Quiz

The Certified Financial Planner (CPF) is a certification endorsed by CFP Board in which examination, training, ethic requirements and a fee is required for the approval. The certification entertains the renewal of certification after a specific period of usage and excellent exams are taken for the acquisition of CFP license. Have this quiz!

Questions and Answers

1.

What type of question is the CFP Certification exam?
- A.
  
  Multichioce
- B.
  
  Essay
- C.
  
  Fill in the blank
- D.
  
  Checkbox
Correct Answer
A. Multichioce

Explanation
The CFP Certification exam is a multiple-choice question type.

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2.

How many questions is present in the exam?
- A.
  
  140
- B.
  
  150
- C.
  
  160
- D.
  
  170
Correct Answer
D. 170
3.

How many sessions is the exam broken into?
- A.
  
  2
- B.
  
  4
- C.
  
  6
- D.
  
  8
Correct Answer
A. 2

Explanation
The exam is broken into two sessions.

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4.

What type of break is in between the sessions of the exam?
- A.
  
  30-minute
- B.
  
  35-minute
- C.
  
  40-minute
- D.
  
  45-minute
Correct Answer
C. 40-minute

Explanation
The type of break that is in between the sessions of the exam is a 40-minute break.

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5.

What time is required for the completion of a session?
- A.
  
  1 hour
- B.
  
  2 hours
- C.
  
  3 hours
- D.
  
  4 hours
Correct Answer
C. 3 hours

Explanation
The completion of a session requires 3 hours.

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6.

How many years of full-time experience in financial planning is required for the certification?
- A.
  
  1
- B.
  
  2
- C.
  
  3
- D.
  
  4
Correct Answer
C. 3

Explanation
The certification requires a minimum of 3 years of full-time experience in financial planning. This indicates that the individual must have worked in the field of financial planning for at least 3 years on a full-time basis in order to be eligible for the certification.

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7.

How many hours of education is required for the renewal of CFP certificate?
- A.
  
  25 hours
- B.
  
  30 hours
- C.
  
  35 hours
- D.
  
  40 hours
Correct Answer
B. 30 hours

Explanation
The correct answer is 30 hours. This is the amount of education required for the renewal of a CFP certificate.

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8.

What is the full meaning of CIMA?
- A.
  
  Certified Investment Management Analysis
- B.
  
  Certified Investment Management Analyst
- C.
  
  Certified Investment Management Analytics
- D.
  
  Certified Investment Management Analyses
Correct Answer
B. Certified Investment Management Analyst

Explanation
CIMA stands for Certified Investment Management Analyst. This certification is awarded to individuals who have demonstrated their expertise in investment management analysis.

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9.

What is the total number of elements of financial planning?
- A.
  
  4
- B.
  
  6
- C.
  
  8
- D.
  
  10
Correct Answer
C. 8

Explanation
The total number of elements of financial planning is 8. This means that there are 8 different components or factors that need to be considered and included in the process of financial planning. These elements may include setting financial goals, creating a budget, managing debt, saving and investing, insurance planning, tax planning, retirement planning, and estate planning. Each of these elements plays a crucial role in creating a comprehensive and effective financial plan.

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10.

What year was the "Apprenticeship Experience" option included in the certification qualifications?
- A.
  
  2009
- B.
  
  2010
- C.
  
  2011
- D.
  
  2012
Correct Answer
D. 2012

Explanation
The "Apprenticeship Experience" option was included in the certification qualifications in 2012.

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