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Q.1 What is CFPCM certification?
Q.2 Who should consider CFPCM certification?
Q.3 What are the prospects of a career in Financial Planning?
Q.4 What are the benefits of undergoing the CFPCM certification programme and the CFPCM marks?
Q.5 How are financial planners paid?
Q.6 Who offers CFPCM certification in India?
Q.7 What is FPSB India?
Q.8 Is CFPCM certification a global certification?
Q.9 What are the 4Es criteria for awarding CFPCM certification?
Q.10 What does the CFPCM certification Education programme offer?
Q.11 Which are the six modules under the CFPCM certification education programme and what is the nature of the curriculum?
Q.12 What are the modes available to facilitate completion of education?
Q.13 In what language will the exam be conducted?
Q.14 How do I pursue the CFPCM certification programme?
Q.15 What are the minimum qualifications required to register for the CFPCM certification programme and what are the minimum requirements for being entitled to use the CFPCM marks and to be called as a CERTIFIED FINANCIAL PLANNERCM professional?
Q.16 What are the renewal requirements of CFPCM certification?
Q.17 What is AFP certification?
Q.18 How soon can I complete CFPCM certification? What is the maximum period given to a candidate to complete the CFPCM certification programme?
Q.19 What will I be tested on?
Q.20 What do I gain for immediate recognition when I pass the exam?
Q.21 I might consider upgrading my status to that of a CFPCM certificant sometime in the future. Can I just maintain my AFP license in the meantime?
Q.22 What happens if I have not completed the CFPCM certification education programme even after 7 years?
Q.23 I have successfully cleared all the CFPCM certification modules exams but I only have 2 years of relevant work experience. Am I eligible for the CFPCM certification?
Q.24 What information do I need to provide when I apply for Practitioner certification?
Q.25 Is NJ Gurukul an authorized Education Provider?
Q.26 Does NJ Gurukul provide Distance learning and Challenge Status programme?
Q.27 How many hours of classroom training do you provide?
Q.28 What are the facilities provided by NJ Gurukul in classroom training?
Q.29 What are the facilities provided by NJ Gurukul in distance learning?
Q.30 How much time is required for classroom training?
Q.31 How much time is required for distance learning?
Q.32 Who are the facilitators for the course?

Q.1 What is CFPCM certification?top

Ans- CERTIFIED FINANCIAL PLANNERCM certification or CFPCM certification is an international programme in the field of Financial Planning, wealth management and financial advisory services.It is a mark of excellence granted to individuals who meet the strict standards of education, examination, experience and ethics. It is very prestigious and internationally accepted Financial Planning qualification, recoginized and respected by the global financial community.

Financial Planning is one of the fastest growing careers across the world. Being one of the fastest growing economies, India currently has around 5 crore families with investible surplus. Assuming that one financial planner is handling approx. 1,000 clients we need at least 50,000 Certified Financial Planners in India immediately. This is set to grow at a faster rate. CFPCM certification was rated as Gold Standard in Financial Planning by the Wall Street Journal in the year 2006.

CFPCM certification is the highest level of certification in the field of Financial Planning worldwide with over 1,26,016 CFPCM certificants, who are widely respected by consumers, professionals and industry.

Q.2 Who should consider CFPCM certification?

Ans- CFPCM certification is for financial services professionals, customer relationship officers, insurance agents, stock brokers, those looking to expand their careers in the financial services business, and graduates who want to be professionally and globally recognized.

Q.3 What are the prospects of a career in Financial Planning?

Ans- Financial Planning is one of the fastest-growing professions across the world and financial planners are the most sought after professionals by a fast growing working population that earns well, and needs expert handling of their finances. The opportunities are aplenty with Banks, financial planning outfits, wealth managers, life insurers, accounting firms, stock brokers seeking professionals with such expertise. financial planners offer expert opinions on issues related to retirement planning, estate planning, tax planning, investment planning, insurance planning, financial management of small businesses and trusts, stock brokering, debt and risk analysis. Needless to say a career as a financial planner can prove both challenging and rewarding.

Q.4. What are the benefits of undergoing the CFPCM certification programme and the CFPCM marks?top

Ans-
  • Enhanced career and employment opportunities in Financial Services Sector.
  • Personal satisfaction in knowing you have earned the profession's highest standard and met the global benchmark.
  • Satisfied clients who appreciate the comprehensive approach to Financial Planning and extend long term relationships and referrals.
  • Your expertise and credibility as a qualified professional is instantly communicated.
  • More revenue streams by increasing your product and service offering to your clients.
  • Enhanced social status by joining the league of professionals.
  • Recognition in over 23 countries across the world.
  • Opportunities to showcase your knowledge on Financial Planning & advising through various media vehicles.

Q.5 How are financial planners paid?

Ans- Financial planners may earn in any of the following three ways:

  • A planner can be paid by a salary from the company for which he/ she works; by fees based on an hourly rate, a flat rate, or on a percentage of the assets and/or income.
  • By commissions paid by a third party from the products sold to clients to carry out the Financial Planning recommendations.
  • By a combination of fees and commissions whereby fees are charged for the amount of work done to develop Financial Planning recommendations and commissions are received from any product sold.

As the profession is in its nascent stage various models are being tried and tested by the financial planners in India. But surely over a period of time the clear trend is towards a fee-only model like other professions, i.e. medicine, law, accountancy, etc.

Q.6 Who offers CFPCM certification in India?

Ans- Financial Planning Standards Board India (FPSB India) offers the CERTIFIED FINANCIAL PLANNERCM certification or CFPCM certification programme. FPSB India is the sole licensing body that awards CFPCM certification in India through an agreement with US based FPSB, Ltd.

Q.7 What is FPSB India?

Ans- Financial Planning Standards Board India (FPSB India) is a Public-Private Enterprise and a Professional Standards Setting body that proactively guides the development and promotion of standards for Financial Planning professionals to benefit the public in the country.

Q.8 Is CFPCM certification a global certification? top

Ans- Yes, currently CFPCM certification is offered and recognized in 23 countries.

Q.9 What are the 4Es criteria for awarding CFPCM certification?

Ans- CFPCM certification worldwide is awarded by FPSB Affiliates to competent and qualifying candidates fulfilling the 4 E Criteria of CFPCM certification, i.e. Education, Examination, Experience and Ethics.

The Education criterion demonstrates to the public that the candidate has acquired the necessary knowledge to become a financial planner.

The Examination Criterion is achieved when a candidate passes the CFPCM certification examination. By passing the CFPCM certification examination, the candidate demonstrates to the public that he/she has the required level of competency to practise Financial Planning.

The Experience criterion is meant to provide the public with the assurance that the candidate understands different products of Financial Planning and their intricacies for a specific client apart from the counseling nature of personal Financial Planning.

The Ethics Criterion means, that to get the CFPCM certification, candidates after meeting Education, Examination & Experience criteria must agree to abide by FPSB India's Code of Ethics and Rules of Professional Conduct, Practice Standards and Disciplinary Rules and Procedures. Careful adherence to these standards of professional conduct helps turn initial consultations into trusted, long-term consulting relationships with clients and gain public confidence in the profession and certification.

For details, login www.fpsbindia.org.

Q.10 What does the CFPCM certification Education programme offer?

Ans- The programme helps the individual understand the Financial Planning process and makes him capable of explaining the process to his/ her clients. He/ She would also be able to draft comprehensive financial plans of international standards for individuals. The CFPCM certification programme covers the following areas:

  1. Introduction to Financial Planning,
  2. Risk Analysis & Insurance Planning,
  3. Retirement Planning & Employee Benefits,
  4. Investment Planning,
  5. Tax Planning & Estate Planning, and
  6. Advanced Financial Planning.

Q.11 Which are the six modules under the CFPCM certification education programme and what is the nature of the curriculum?top

Ans- The six modules under the CFPCM certification education programme are -

  1. Introduction to Financial Planning,
  2. Risk Analysis & Insurance Planning,
  3. Retirement Planning & Employee Benefits,
  4. Investment Planning,
  5. Tax Planning & Estate Planning, and
  6. Advanced Financial Planning.

For details, login www.fpsbindia.org.

Q.12 What are the modes available to facilitate completion of education?

Ans- FPSB India has authorized Education Providers to deliver the CFPCM certification education programme to the students. Alternatively, a candidate can adopt "Self Study" mode whereby he/she can choose any courseware or study material available in the market and study by self. The CFPCM certification Education programme is delivered by authorized Education Providers through distance learning, e-learning mode, part-time and full-time Education programmes.

Q.13 In what language will the exam be conducted?

Ans- Challenge Status / Exam 5 is now available in both English and Hindi. To apply for the appropriate one, please fill the relevant option in the Examination Enrollment Form.

Q.14 How do I pursue the CFPCM certification programme?

Ans- There are 2 pathways through which an aspirant can register for the CFPCM certification programme, namely:

  1. Regular Pathway through either Education Providers or "Self Study"
  2. Challenge Status Pathwaytop

Q.15 What are the minimum qualifications required to register for the CFPCM certification programme and what are the minimum requirements for being entitled to use the CFPCM marks and to be called as a CERTIFIED FINANCIAL PLANNERCM professional?

Ans- A candidate with any background can strive for the CFPCM certification. The candidate enrolling with FPSB India to pursue CFPCM certification is required to have a basic education of atleast SSC or Class 10 pass, but he/she needs to be HSC or Class 10+2 pass for the award of CFPCM certification subject to fulfilling experience criteria.

Regular Pathway:

In order to enroll for the CFPCM certification education programme, the applicant must have at least passed his SSC (Class 10th) or equivalent. However, the applicant will be entitled to use the CERTIFIED FINANCIAL PLANNERCM certification or CFPCM marks only after he/she has acquired a minimum qualification of HSC. Standard guidelines have been provided by FPSB India on eligibility criteria. The candidate will have to give a 2 hour objective exam on each of the following subjects:

  1. Risk Analysis & Insurance Planning,
  2. Retirement Planning & Employee Benefits,
  3. Investment Planning,
  4. Tax Planning & Estate Planning, and
  5. 4-hour exam on Advanced Financial Planning.

Challenge Status Pathway:

Challenge Status programme

Designed as a fast track CERTIFIED FINANCIAL PLANNERCMcertification, it is targetted at professionals as diverse as CFA (USA), ICWA, C.A., MBA, PG, etc. as well as experienced employees and managers employed in the financial service industry. Standard guidelines have been provided by FPSB India on

  • Eligibility criteria
  • Special features of CSP
  • Basic study material together with reference material, and
  • Syllabus & references for CSP. Examination for CSP is similar to Exam No. 5 of general CERTIFIED FINANCIAL PLANNERCMcertification candidates. A special Challenge Status Registration form has to be filled in.

For details, login www.fpsbindia.org. top

Q.16 What are the renewal requirements of CFPCM certification?

Ans- The following are 2 requirements for renewing the CFPCM certification:

A. Continuing Education:
The CE requirement of 15 points is effective immediately upon certification and one is required to meet this to be a CFPCM certificant. Continuing Education (CE) plays a vital role to maintain and enhance the professional competence of the CFPCM professional in a dynamic industry. FPSB India has made Continuing Education one of the key requirements for continued use of FPSB India's CFPCM marks.

B. Renewal Fee:
CFPCM certificants pay a renewal fee currently set at .5,000/- per year. To avoid the late fee, the CE requirement must be fulfilled and FPSB India must receive a duly-completed CE Reporting Form along with the Fee(s) before the renewal date.

Q.1 7 What is AFP certification?

Ans- To professionalize the product-based advisory and specialized advisory services, FPSB India has established AFP certification which is targeted at existing professionals who want to upgrade their knowledge about Financial Planning without undergoing the entire CFPCM certification programme. The various certifications available under this option are:

  • AFP certification (Risk Analysis & Insurance Planning)
  • AFP certification (Retirement Planning & Employee Benefits)
  • AFP certification (Investment Planning)
  • AFP certification (Tax Planning & Estate Planning)

However, FPSB India and the industry encourages students to undertake the complete CFPCM certification programme to practise Financial Planning in its true comprehensive spirit.

Q.18 How soon can I complete CFPCM certification? What is the maximum period given to a candidate to complete the CFPCM certification programme?

Ans- A candidate appearing for CFPCM certification examination through regular mode will require at least 3 months to complete the certification. However, a candidate appearing through Challenge Status mode can complete it within a month. An applicant is required to complete the CFPCM certification programme within a maximum period of 7 years from the date he/she registers for the CFPCM certification education programme.

Q.19 What will I be tested on? top

Ans- CFPCM certification students are assessed on the following:

  • Professional advice and understanding of client's needs; the fact-finding process; and the elements of good practice.
  • Knowledge and application of protection of capital, savings and investment, and retirement related products.
  • Knowledge of Indian financial services industry regulatory framework and taxation. Syllabus is available in CFPCM Syllabus section.

Q.20 What do I gain for immediate recognition when I pass the exam?

Ans- Success in passing the exam opens up several opportunities for immediate recognition by your peers, customers and the financial services industry as a whole. Successful candidates will be awarded a certificate. They will be invited to apply for certification with the FPSB India. CFPCM certificants who successfully apply for certification will be able to indicate their CFPCM certification on their professional identifications, including visiting cards and letter head.

Q.21 I might consider upgrading my status to that of a CFPCM certificant sometime in the future. Can I just maintain my AFP license in the meantime?

Ans- Yes. You can maintain your AFP license, but we would encourage you to continue with the programme that would ultimately lead you to the prestigious CFPCM mark that is globally recognized. If for some reason you are unable to continue with the programme, you have a maximum of 7 years to complete the CFPCM certification education programme course from the date of your first module registration.

Q.22 What happens if I have not completed the CFPCM certification education programme even after 7 years?

Ans- You will be required to re-register for the CFPCM certification education programme course. In other words, you will need to undergo all the modules 1-6 once again.

Q.23 I have successfully cleared all the CFPCM certification modules exams but I only have 2 years of relevant work experience. Am I eligible for the CFPCM certification?

Ans- In your case, you will be issued a Special Certificate by FPSB India mentioning that you have successfully accomplished the CFPCM certification exams against an annual fee which is equivalent to the certification fee and following your successful completion of 3 years of work experience, you shall be awarded the CFPCM certification.

Q.24 What information do I need to provide when I apply for Practitioner certification?

Ans-
  • Application Fee of . 5,000.
  • Self-declaration Form duly signed by the candidate and the Special Declaration Form signed by the HR head of the company, if he/she is employed. In case the candidate is self-employed, then the form has to be signed by a Gazetted Officer.
  • Qualification certificates (signed by the HR Head or Gazetted Officer as applicable).
  • Work-experience certificates (signed by the HR Head or Gazetted Officer as applicable).
  • Please note : Incomplete applications can be subject to significant delays.

Q.25 Is NJ Gurukul an authorized Education Provider? top

Ans- Yes. NJ Gurukul is an authorized Education Provider with FPSB India.

Q.26 Does NJ Gurukul provide Distance learning and Challenge Status programme?

Ans- No. As of now we do provide Distance Learning apart from the classroom training course but we do not provide the Challenge Status programme.

Q.27 How many hours of classroom training do you provide?

Ans- We provide 140 hours of classroom training for 6 modules. We provide 40 hours of classroom training per module. .

Q. 28. What are the facilities provided by NJ Gurukul in classroom training?

Ans- NJ Gurukul provides extensive classroom training along with its own study material with practice book. Online query solving is also available for the candidates.

Q. 29. What are the facilities provided by NJ Gurukul in distance learning?

Ans- NJ Gurukul provides the CFPCM learning kit comprising of study material with practice book. A help module is also made available online to the candidates, in addition to the mock tests, which are also available online.

Q. 30. How much time is required for classroom training?

Ans- Classroom training is approximately of 8 months, which includes the 15 day break after each module so as to enable the candidates to prepare and appear for the exam.

Q. 31. How much time is required for distance learning?

Ans- Distance learning depends on the individual. Once the candidate registers himself / herself with FPSB, then after a period of one month, he/she can appear for the exam.

Q.32 Who are the facilitators for the course?

Ans- The course is being steered by qualified CFPCM with a passion to prepare the planners. The trainers are successful professionals who are perfect for the specific modules.