Frequently Asked Questions About the CFP® Certification Education Program
What our students say...
"When I started the CFP Certification Education Program you think you're
just going to gain some book knowledge needed to pass the CFP exam.
What you get, however, is so much more! Not only do you learn the
information, but you're taught how to apply it in your everyday situations.
Another huge benefit of this program is the relationships you develop with
your colleagues. This network is so important in today's business
world. Joshua R. Salley, CFP
This CFP® Certification Education Program contains the career knowledge needed by financial planners, as described by CFP® Board. This program is offered over a 22-month period. Classes are from 6 p.m. to 9 p.m. on Tuesdays. Classes start in September 2013.
What is CFP® certification?
CFP® certification is a nationally and internationally recognized professional certification. Certified Financial Planner Board of Standards Inc. awards the CFP®, CERTIFIED FINANCIAL PLANNER® and CFP® (with flame design) marks to individuals that fulfill initial and ongoing certification requirements: satisfy the educational requirements, three years of work experience in a financial planning field, pass the CFP® Certification Examination, compliance with CFP Board's Code of Ethics and Professional Responsibility, continuing education and recertification.
What is Certified Financial Planner Board of Standards?
CFP Board is a nonprofit professional regulatory organization. CFP Board was founded in 1985 and exists to benefit the public by establishing and enforcing requirements for CERTIFIED FINANCIAL PLANNER® certificants. It is funded by the fees it collects for examination and certification. CFP Board also registers educational programs in financial planning. Registered educational programs, such as the CFP® Certification Education Program at Midlands Technical College, satisfy CFP Board's educational requirement. For more information, see www.cfp.net.
What are the tuition and total costs to program participation?
Tuition for each course is $699. You should expect to pay approximately $750 for the required text books. The costs for the optional review courses and associated texts, CFP® Certification Examination fee and CFP Board Certification fee are not included in the tuition and are separate from the costs of the program. You may expect to pay approximately $650 - $1,000 for the optional review course, $595 for the CFP® Certification Examination fee and $100 for the CFP Board Certification fee.
Call our VA Coordinator at (803) 738-7717 to begin the VA application process. To register or for information about payment plans available for this program, call (803) 732-0432.
What are the program's entrance requirements?
As of 2007, the CFP Board requires that applicants hold a bachelor's degree from an accredited college or university. In addition, successful financial planning students who sit for the exam need three or more years of experience in the financial services industry. Applicants who do not meet these degree and work experience requirements are asked to interview with the program's director.
What is the general time commitment expected of students?
Our instructors estimate that they spend three hours of preparation time for each hour of actual classroom instruction each week. Students should be prepared to commit the same amount of time to their studies. Dalton Publications, a leading educator, estimates that students should spend 200 - 250 hours studying for the comprehensive exam.
What is the format of the CFP® Certification Exam?
The CFP® Certification Exam is a rigorous professional exam given over a two-day period for a total of 10 hours. The exam consists of multiple choice questions and three major case problems. The exam tests comprehension, synthesis and evaluation as well as knowledge of facts and terms.
CFP® CERTIFICATION
EDUCATION PROGRAM
The Midlands Technical College (MTC) CFP® Certification Education Program will expand your skills and career options. Specifically designed for professionals in the financial services industry, this program will help you extend your knowledge, establish your credibility and broaden your network of contacts. Among the program benefits are the following:
- Up-to-Date Knowledge
Our combination of experience, information and methodology will give you the knowledge you seek to more effectively serve your clients. - Expanded New Career Options
Your fellow students will typically offer a valuable network of contacts. Participants in the CFP® Certification Education Program include accountants, bankers, stockbrokers, investment advisors, insurance advisors, financial planners and other professionals. - Valuable Credentials
Certification as a financial planner indicates a commitment to delivering professional and comprehensive services that will impress and reassure your clients. The combination of certification as a financial planner and a certificate from Midlands Technical College will provide you with the credibility that today's sophisticated clients demand.
About CFP® Certification
In today's competitive financial planning environment, the CFP Certification is the mark of a true professional. Begin your personal quest for the certification that proves you are a leader in your profession. The CFP Certification Education Program will help you expand your knowledge and credibility, broaden your contact network and deliver expertise to your clients.
Midlands Technical College's CFP® Certification Education Program is registered with Certified Financial Planner Board of Standards Inc. (CFP Board). Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER® and federally registered CFP® (with flame design), which it awards to individuals who successfully complete initial and ongoing certification requirements. Midlands Technical College does not certify individuals to use the CFP®, CERTIFIED FINANCIAL PLANNER® and federally registered CFP® (with flame design) certification marks. CFP® certification is granted only by Certified Financial Planner Board of Standards Inc. to those persons who, in addition to completing an educational requirement such as this CFP Board-Registered Program, have met its ethics, experience and examination requirements.
The Program Curriculum
The program consist of the following seven sequential courses, taught by practicing local professionals and CFP® certificants:
- Fundamentals of Financial Planning CEPFP 690
A foundation providing the student with a comprehensive overview of the financial planning process, emphasizing goal and priority setting, data gathering and implementing a financial plan. Also covered is time value of money concepts, financial calculator protocol, legal environment, financial analysis and ethical and professional considerations in financial planning.
- Insurance Planning CEPFP 691
This course covers the various aspects of life, disability and medical insurance. Students also learn about property& casualty insurance (including homeowners, liability and auto insurance), employee benefits and social security& insurance regulations.
- Investment Planning CEPFP 692
An analysis of investment alternatives in a risk-return framework, with an emphasis on selection, timing and diversification techniques. This course teaches students how to construct and manage various investment vehicles appropriate for clients' needs. Proficiency on the financial calculator is required for this course.
- Retirement Planning and Employee Benefits Planning CEPFP 693
This course instructs students on how to effectively plan, implement and monitor personal and business-sponsored retirement plans.
- Estate Planning CEPFP 694
This course allows students to learn the techniques which minimize the impact of state and federal taxes on transfers of wealth, gifts and bequests, trusts, charitable transfers and intra-family business and property transfers. This course will stress the need for balancing tax and non-tax considerations in creating successful estate plans.
- Income Tax Planning CEPFP 695
A module emphasizing the concepts and methods of determining tax liability for individuals and ways to efficiently manage a client's taxes.
- Financial Plan Development/Capstone CEPFP 696
The final class in the CFP® Certification Education Program utilizes case studies and mini-cases to tie together the various disciplines studied. It builds on the material covered in the first six courses of the CFP® Certification Education Program. Emphasis is on the application of financial planning concepts in an integrated planning environment.
Click Here for Course Descriptions
To register for any of the above courses, call 803-732-0432.
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