Mapping of Syllabus CFP CM Certification Program. Critical Abilities mapped to Exam Specification

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1 Mapping of Syllabus CFP CM Certification Program Critical Abilities mapped to Exam Specification

2 Education Standards of CFP Certification Program The body of knowledge to cover learning outcomes in the Financial Planner Competency Profile Financial Planner Abilities Financial Planner Professional Skills Financial Planning Body of Knowledge To deliver Financial Planning to a client, a financial Planning professional needs to combine the ability to carry out the tasks of financial planning, by using appropriate professional skills, and drawing on knowledge of financial planning matters. The Financial Planning Functions of Collection, Analysis and Synthesis are mapped on the following Financial Planning abilities: Financial Management Asset Management Risk Management (Insurance) Tax Planning Retirement Planning Estate Planning

3 Education Standards of CFP Certification Program Acceptable coursework should provide around 600 hours of education delivery and study: 240 hours of classroom or equivalent, plus 1.5 multiplier factor for preparatory and additional study (240 x 1.5 = base hours = 600 total hours) Coursework should be set at the European Qualification Framework (EQF) level 6 or equivalent. Level is defined as follows: Knowledge Skills Competence Example Advanced knowledge of a field of work or study, involving a critical understanding of theories and principles. Advanced skills, demonstrating mastery and innovation, required to solve complex and unpredictable problems in a specialized field of work or study. Manage complex technical or professional activities or projects, taking responsibility for decisionmaking in unpredictable work or study contexts; take responsibility for managing professional development. Honours Bachelor Degree, Vocational University German State-certified Engineer, Business Manager and Designer. Slide 3

4 Category Testing of Competency Exam Specification and Pattern Pattern of Question Bank Exam 1/2/3/4 Section-I Section-II Section-III Section-IV Section-V Total Total : 77 / Total : 150 The weights of individual parts in each of Exam 1 4 along with distribution of is : Percentage Distribution Section -I Section-II Section -III Section -IV Section -V 22% 21% 23% 18% 16% 15% 22% 33% 20% 10% Part II, III & IV cover 62% of total items which account for 75% of total.

5 Category Testing of Competency Exam Specification and Pattern Pattern of Question Bank Exam 1/2/3/4 Section-I Section-II Section-III Section-IV Section-V Total Mark Categories Segregation of question items (nos.) Total Question items breaku p Total 3&4 Category: 24 items (31% of total items) 82 (55% of total ) 1 mark Introduction Module Component Module Introduction Module Component Module Introduction Module Component Module Introduction Module Component Module Total

6 Testing of Competency Exam Specification and Pattern Indicative Difficulty Grade and Mapping of Exam Duration The mark categories would broadly determine the nature of question items contained in those categories along with a commensurate difficulty grade. Category 1-mark 2-mark 3-mark 4-mark Significance Grade Total items Theoretical testing knowledge Theoretical (predominantly) testing clarity of concepts or Numerical testing basic skills Numerical testing analytical skills Numerical testing advanced analytical skills, strategy evaluation & synthesis Grade 1 Grade 2 Grade 3 Grade 4 Total Weight (%) % % % % Expected Time/Per Item 35 seconds 90 seconds 150 seconds 240 seconds Total Expected Time 22 Minutes 23 Minutes 35 Minutes 40 Minutes Total % 120 Minutes

7 Category Skills Development and Exam Mapping Theoretical related to Introduction to Financial Planning Theoretical Areas covered under Introduction to Financial Planning and asked to the extent of 20% in each of Exam 1 4 are: 12 Financial Planning Process Code of Ethics and Professional Responsibility Model Rules of Conduct CFP usage Brief Overview to Financial Markets Economic Environment Analysis Behavioral Finance Pattern of Question Bank 20% of Introduction FP Module embedded in Exam 1/2/3/4 Section-I Section -II Section -III Section -IV Section -V Total

8 Category Skills Development and Exam Mapping Numerical related to Introduction to Financial Planning Numerical Areas covered under Introduction to Financial Planning and asked to the extent of 20% in each of Exam 1 4 are: 14 Time Value of Money calculations Personal Financial Statement Analysis Cash Flow Management Loan Schedules and Refinancing of Loans Net Worth Calculation Computation of Returns CAGR, IRR, XIRR, etc. Savings Ratio and Liquidity Ratios Pattern of Question Bank 20% of Introduction FP Module embedded in Exam 1/2/3/4 Section-I Section -II Section -III Section -IV Section -V Total

9 Critical Areas Financial Planning Abilities Numerical problems testing Analytical skills, Advanced Analytical skills, Strategy Evaluation & Synthesis 1. Risk Analysis & Insurance Planning 19 Section II: Insurance provisions basis- Depreciation, Market/Reinstatement Cost-benefit Analysis and Claim Settlement value Section III: Economic value of human life Replacement of future income of the insured Replacement of expenses and financial liabilities of the family Provision in life cover of certain financial goals/ liabilities Review of coverage for changes in income, assets /liabilities Investment Linked Insurance and Insurance Linked Annuities Return on Savings Component Section IV: Basis of property cover - Reinstatement, book or market value Personal umbrella policy- Mortgage cover Use of excess/deductible and franchise

10 Critical Areas Financial Planning Abilities Numerical problems testing Analytical skills, Advanced Analytical skills, Strategy Evaluation & Synthesis 2. Retirement Planning & Employee Benefits 19 Section II: Pre-retirement (Accumulation) & Post-retirement phase (Distribution), Early retirement vs. Delaying retirement, Risk of living longer, Income generation using fixed assets, Supplementing retirement income through other sources Section III: Estimate Retirement Corpus, Ascertain client s Asset Allocation in accumulation phase, Optimize rate of return from chosen Asset Classes, Step increase in investment, Rebalance accumulated funds in line with defined Asset Allocation, annuity product to transfer fund near retirement, Reverse Mortgage. Section IV: PPF - Systematic accumulation for retirement corpus, Immediate vs. Deferred annuities, Annuities - Period certain, Life certain and Life with period certain.

11 Critical Areas Financial Planning Abilities Numerical problems testing Analytical skills, Advanced Analytical skills, Strategy Evaluation & Synthesis 3. Investment Planning Section II: Asset Allocation, Expected Rate of Return, Goal specific Asset Allocation, Asset Allocation changes near the goals, Selection of asset mix according to client s goals. Section III: Additional lump sum vs. Systematic staggered investments, Monitoring portfolio progress for goals, Portfolio Beta, Variance, Semi-variance & Covariance, Standard Deviation, Correlation and Correlation Coefficient, Effect of diversification on portfolio risk & return, Yield to Maturity, Dividend Discount Model, Analysis of Growth, Dividend Payout & Reinvestment options (MF Schemes). 18 Section IV: Systematic Investment Plan, Systematic Withdrawal Plan and Systematic Transfer Plan, Risk and return on a portfolio - Sharpe, Treynor and Jensen s Ratio, Capital Asset Pricing Module (CAPM).

12 Critical Areas Financial Planning Abilities Numerical problems testing Analytical skills, Advanced Analytical skills, Strategy Evaluation & Synthesis 3. Tax Planning and Estate Planning 19 Section II: Salary Allowances, Perquisites and Deductions, Income from Self Occupied/Let out House Property, Capital Gains Long Term/Short Term, Indexed cost of acquisition/renovation and exemptions, Income from Other Sources - Chargeability, Exemptions, Deductions & Tax Liability, Clubbing of Income, Deductions under Chapter VI-A Section III: Deferral of tax liability, Taxability of Equity, Debt and Insurance products, Transaction in the nature of Gifts/Prizes/Winnings, Dividend and Bonus stripping provisions, Agricultural income and Wealth tax 18 Section IV: Estate Planning, Determine value of client s estate and liquidity aspects, Trust structures for Tax Efficiency and Trust as Pass-through entity.

13 CFP CM, CERTIFIED FINANCIAL PLANNER CM and are certification owned outside the U.S. by Financial Planning Standards Board Ltd. Financial Planning Standards Board India is the licensing authority for the CFP in India, through agreement with FPSB Ltd. Financial Planning Standards Board India 702, 7th Floor, Leela Business Park Andheri Kurla Road, Andheri (E) Mumbai Phone: , Fax: Website:

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