Free CFP Practice Exam
CFP practice exam with questions across all 8 domains: ethics, financial planning, insurance, investments, tax, retirement, estate, and behavioral finance.
CFP® Certification Exam
CERTIFIED FINANCIAL PLANNER® Exam. 170 questions, 6 hours (two 3-hour sessions), pass/fail (~70%). Offered 3x per year: March, July, November.
Practice by CFP Topic
Target a specific area, or launch the full exam below
Professional Conduct & Regulation
CFP Board Code of Ethics, fiduciary duty, regulatory requirements, and consumer protection laws. 8% of exam — 14 questions.
General Principles of Financial Planning
Financial planning process, cash flow, time value of money, education planning, and economic concepts. 15% of exam — 26 questions.
Risk Management & Insurance
Life, disability, LTC, health, property insurance; risk analysis and product selection. 11% of exam — 19 questions.
Investment Planning
Portfolio theory, asset allocation, investment strategies, performance measurement, and behavioral finance. 17% of exam — 29 questions.
Tax Planning
Income tax, capital gains, business entities, tax-advantaged strategies, and tax-efficient investing. 14% of exam — 24 questions.
Retirement Savings & Income
Qualified plans, IRAs, Social Security, Medicare, distribution strategies, and income planning. 18% of exam — 31 questions. Largest domain.
Estate Planning
Wills, trusts, gift strategies, estate tax, charitable giving, and wealth transfer techniques. 10% of exam — 17 questions.
Psychology of Financial Planning
Behavioral biases, client communication, money scripts, and counseling techniques. 7% of exam — 12 questions.
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Full CFP® Practice Exam
All 8 domains weighted to match the official CFP Board blueprint — 170 questions across two simulated 3-hour sessions.
About the CFP Exam
The CERTIFIED FINANCIAL PLANNER™ (CFP®) exam is required to earn the CFP designation from the CFP Board — the gold standard credential for personal financial planning professionals in the United States. The exam tests your ability to apply financial planning knowledge to realistic client scenarios across six principal knowledge domains. The CFP designation signals to clients and employers that you meet rigorous education, examination, experience, and ethics requirements.
The exam contains 170 questions across two 3-hour sessions (85 questions each), for a total of 6 hours. Questions are a mix of standalone items and case-based scenarios. The pass rate is approximately 60–65%. The CFP Board does not publish a specific passing score — results are reported as pass or fail. The exam is offered three times per year: March, July, and November.
CFP Exam Topic Breakdown
| Principal Knowledge Domain | Weight | Key Areas |
|---|---|---|
| Professional Conduct and Regulation | 8% | CFP Board standards, fiduciary duty, practice standards, disclosure |
| General Financial Planning Principles | 15% | Financial planning process, time value of money, education planning, special needs |
| Education Planning | 6% | 529 plans, Coverdell ESAs, financial aid, student loans |
| Risk Management and Insurance | 11% | Life, health, disability, LTC insurance; needs analysis; policy types |
| Investment Planning | 17% | Asset classes, portfolio theory, retirement accounts, behavioral finance |
| Tax Planning | 14% | Income tax, deductions, capital gains, charitable giving, tax-efficient strategies |
| Retirement Savings and Income Planning | 17% | Social Security, Medicare, qualified plans, RMDs, retirement income strategies |
| Estate Planning | 12% | Wills, trusts, gifting strategies, estate tax, beneficiary designations |
Sample CFP Exam Questions
1. A 55-year-old client plans to retire at 62. She has a traditional IRA worth $500,000 and expects to need $40,000/year from the IRA in retirement. She is concerned about sequence-of-returns risk. Which strategy BEST addresses this concern?
2. A married couple has a combined estate of $18 million. They want to minimize estate taxes while ensuring the surviving spouse is provided for. Which strategy is MOST appropriate?
3. A client is in the 32% federal tax bracket and is considering a $10,000 charitable gift. She can either donate cash or appreciated stock with a basis of $3,000 now worth $10,000. Which approach provides the GREATEST overall tax benefit?
Study Tips for the CFP Exam
Retirement Savings and Income Planning and Investment Planning together account for 34% of the exam — the two largest domains. For retirement, master Social Security optimization strategies (file and suspend, restricted application history, break-even analysis), RMD rules, qualified plan contribution limits and distribution rules, and retirement income sequencing. For investments, know portfolio theory, asset allocation, behavioral biases, and tax-efficient investing.
The CFP exam heavily emphasizes case-based reasoning — the ability to integrate multiple planning domains in a realistic client scenario. Many questions require you to identify the BEST recommendation across competing strategies. Practice distinguishing between what is merely correct and what is most appropriate given the client's specific situation. The CFP Board's released practice questions are the best single study resource.
The CFP designation can substitute for the Series 65 in many states; advisers affiliated with a broker-dealer typically also hold the Series 7.
Frequently Asked Questions — CFP Exam
What are the requirements to sit for the CFP exam?
To register for the CFP exam, you must complete a CFP Board-registered education program (minimum 225 hours of coursework across the principal knowledge domains) and hold a bachelor's degree (or be in the final year). You can sit for the exam before completing the experience requirement, but you cannot use the CFP marks until all requirements — education, exam, experience (6,000 hours or 4,000 hours in an apprenticeship), and ethics — are met.
What is the CFP exam pass rate?
The CFP Board reports a pass rate of approximately 60–65% for first-time candidates. The pass rate is higher for candidates who completed a CFP Board-registered education program compared to those who used only self-study.
How long is the CFP exam?
The CFP exam is 6 hours total, divided into two 3-hour sessions of 85 questions each (170 questions total). Sessions are separated by a 40-minute break. Questions include both standalone items and case study scenarios where multiple questions relate to a single client situation.
What is the fiduciary standard for CFPs?
Since 2020, CFP professionals are required to act as fiduciaries at all times when providing financial advice — not just during formal planning engagements. This means always acting in the client's best interest, avoiding conflicts of interest, and making full disclosure when conflicts cannot be avoided. This is stricter than the suitability standard that previously applied to some CFP activities.
How does the CFP differ from the CFA?
The CFP focuses on comprehensive personal financial planning for individual clients — covering retirement, tax, estate, insurance, education, and investment planning in an integrated way. The CFA focuses on investment analysis and portfolio management, primarily for institutional and high-net-worth clients. CFPs typically work as financial planners or advisers; CFAs typically work in investment management, research, or institutional finance. Both are highly respected but serve different career paths.
What topics are most heavily weighted on the CFP exam?
Retirement Savings and Income Planning (17%) and Investment Planning (17%) are the two largest domains, followed by General Financial Planning Principles (15%) and Tax Planning (14%). Estate Planning (12%), Risk Management and Insurance (11%), Education Planning (6%), and Professional Conduct (8%) round out the exam.
How many times can I take the CFP exam?
The CFP Board allows candidates to take the exam up to four times per two-year period, with a maximum of seven total attempts. After failing four times, candidates must complete additional education before sitting again. The exam is offered in March, July, and November.