Examination Matters & Student Membership 2019

The Financial Planning Association of Singapore (FPAS) is solely responsible for all matters pertaining to Examinations, Certifications and Exemptions. Queries pertaining to these should be directed to FPAS via email to [email protected]. For the latest updates, please check FPAS website at https://fpas.org.sg.

 

  1. Examinations are held by FPAS three times a year: March (Cycle 1), July (Cycle 2) and November (Cycle 3).
  2. New candidates MUST register and pay for a yearly renewable Standard/Student Membership with FPAS in order to enrol for the AFPCM / AWPCM / CFP® Certification Program(s) with us. Go to FPAS website to set up your membership account online with FPAS directly.
  3. Registered students will be notified by FPAS via email of each upcoming examination registration period, or you may check the official exam schedule here.
  4. To register for Exams, login to your FPAS membership account when the exam registration window opens.
  5. Exam registration and payment of exam fees must be made directly to FPAS and in compliance with all FPAS terms and conditions.
  6. The examination fees payable directly to FPAS is $180 each for Module 2, 3, 4 and 5 and $280 for Module 6. (Module 1 exam fee of $180 is INCLUDED during your FPAS registration for new Student Membership with effect from 24 April 2019)

 

Examinations for Module 1 to 5 are conducted in Multiple Choice Questions (MCQs) and candidates are required to use a 2B pencil to shade the answers onto an Optical Answer Sheet (OAS). Examinations for Module 6 are conducted in pen-and-paper format for essay writing. A student has 7 years to pass all 6 modules if they wish to pursue the CFP® title.

 

Module Exam Duration Exam Format
Module 1 : Foundations in Financial Planning 3 hours
(+15 mins reading time)
95 MCQs
Module 2 : Risk Management & Insurance Planning 3 hours
(+15 mins reading time)
95 MCQs
Module 3 : Tax Planning & Estate Planning 3 hours
(+15 mins reading time)
95 MCQs
Module 4 : Investment Planning 3 hours
(+15 mins reading time)
95 MCQs
Module 5 : Retirement Planning 3 hours
(+15 mins reading time)
95 MCQs
Module 6 : Financial Plan Construction & Professional Responsibilities 3 hours
(+30 mins reading time)
1 Case Study
(Essay writing)

 


New Entrants into the Singapore’s CFP® Certification Programme are allowed to attempt at most 3 new modules at the first exam sitting, where Module 1 is compulsory. The additional 2 Modules are optional, which can be chosen from Module 2 to Module 5 of your choice.

 

New Entrant Examples:

  • Participant Joe is only keen to learn Module 4 using his SkillsFuture Credit. He is welcome to attend class lectures for Module 4 without attending Module 1, as long as he is not attempting the examination in this intake. (Module 1 is a prerequisite for a new entrant exam registration and we strongly urge new entrants to start with Module 1 to have a good understanding of financial planning calculations)

 

  • Candidate Paul is new to Financial Planning and would like to attempt Module 4 exam only. This is NOT allowed. He has to take Module 1 first to achieve a broad understanding of the Financial Planning process, or alternatively he could register for Module 1 AND Module 4 concurrently.

 

  • Candidate Sean is new and would like to attempt Module 1, 2 and 3 together in his first exam sitting. As he included Module 1 in his examination registration, he is allowed to attempt Module 1, 2 and 3 in the same Examination Cycle.

 

  • Candidate Tracy is new and wishes to attempt Module 1, 4 and 5 in her first attempt with a goal of achieving AWP® title. As she included Module 1 in her exam registration, she is allowed to attempt Module 1, 4 and 5 together in the same Examination Cycle.

 


Existing Candidates are allowed to attempt any or all Module 2, 3, 4 and 5 at subsequent examination sittings on condition that they have passed Module 1.

 

Existing Candidates Examples:

  • Candidate Clarence passed Module 1 in Cycle 1 Exams. He can proceed to attempt Module 4 and 5 in Cycle 2 Exams, with the goal of achieving AWP® title.

 

  • Candidate Dexter passed Module 1 and 4 in Cycle 2 Exams. He can proceed to attempt Module 2, 3 and 5 in Cycle 3 Exams.

 

  • Candidate Ethan failed Module 1 in Cycle 1 Exams. He can re-attempt Module 1 + new Module 5 in Cycle 2 Exams. He CANNOT attempt Module 5 by itself in Cycle 2 Exams.

 

  • Candidate Florence passed Module 1 in Cycle 3 Exams. She can continue to attempt Module 2, 3, 4 and 5 together in Cycle 1 Exams the following year.

 


The Final Step (Module 6): Module 6 can only be attempted on the successful completion and passing of Module 1, 2, 3, 4, and 5.

 

The Last Module Example:

  • Candidate Tan has passed Module 1, 2, 3 and 4. She is keen to attempt Module 5 and 6 together in 1 exam sitting. This is NOT allowed. She will need to clear Module 5 first in 1 exam sitting and then proceed to take Module 6 in the next exam cycle, on condition that she pass Module 5.

 


The Speedster*: The fastest possible way to achieve CFP® certification in just 3 exam cycles (approximately 1 year).

 

The Speedster* Examples:

  • Candidate Hafiz has 7 years of experience in the financial planning industry. He joined our class lectures in January and cleared Module 1 & 4 in Cycle 1 Exams. He proceeded to attend class lectures in Cycle 2 and cleared Module 2, 3 and 5 as well. Hafiz continued with KapitalMinds for Module 6 class lectures, attempted his final paper in Cycle 3 Exams and passed Module 6. For his hard work and efforts, he achieved his CFP® certification in just 3 exam cycles!

 

  • Candidate Ian has 1 year of experience in the bank as a Wealth Manager. He has cleared Module 1 at Cycle 2 Exams. He decided to take time off from his work and proceeded to attempt Module 2, 3, 4 and 5 in Cycle 3 Exams. He attended 3 hours of class lectures per day for each module (4 days a week) and study 3 hours per day on his own. He managed to pass all 4 modules with his focus and determination. Ian continued with KapitalMinds for Module 6, and then proceed to attempt Module 6 in Cycle 1 Exams the following year. Regardless of how Ian split his studies, he is still able to achieve his CFP® certification in just 3 exam cycles too!

One of our student sharing on his experience on completing his CFP® certification the Speedster* way:
“I have familiarity with comprehensive financial planning as part of my daily work for my clients. However there are still substantial amount of new learning I acquired through the coursework. I am very thankful to my wife who understood the numerous weekends I need to spend studying to acquire the CFP® mark over the 9 months!”

 

 

* KapitalMinds Recommendation: The CFP® certification program is a substantial coursework at a professional level. If you are planning to complete the certification program on a part-time basis, do pace yourself to ensure you complete the program to join one of the few elite professionals in the industry.