Question 1Economic concepts
A client notices that 2-year Treasury yields are above 10-year Treasury yields and asks what this usually means. Which explanation is MOST accurate?
The CFP exam format and topics
The exam has 170 multiple-choice questions over two 3-hour sections, 85 in each, with a 40-minute break between them. Questions come as stand-alone items, short scenarios and case studies, across CFP Board's eight Principal Knowledge Domains and 70 topics.
| Questions | 170 multiple choice |
|---|---|
| Time | Two 3-hour sections of 85 |
| Scoring | 1 point each, pass or fail on the total |
| Windows | March, July and November |
| Delivery | Prometric test centers |
| Calculator | Your own financial calculator |
The eight domains and their weights
| Domain | Weight |
|---|---|
| A. Professional Conduct and Regulation | 8% |
| B. General Principles of Financial Planning | 15% |
| C. Risk Management and Insurance Planning | 11% |
| D. Investment Planning | 17% |
| E. Tax Planning | 14% |
| F. Retirement Savings and Income Planning | 18% |
| G. Estate Planning | 10% |
| H. Psychology of Financial Planning | 7% |
Three kinds of question
- Stand-alone questions: typically 2 to 3 sentences with 4 answer options.
- Short scenarios: a client situation shared by typically 3 questions, shown beside each question.
- Case studies: several pages of client facts with typically 8 to 12 questions each.
On the day
- Section 1 has subsections 1A (43 questions) and 1B (42) on one 180-minute clock; Section 2 has 2A and 2B the same way.
- There is a 40-minute scheduled break between sections, and an optional break between subsections; the exam timer does not stop during an optional break.
- Once you finish a subsection you cannot return to it; with time left at the end, only subsection 2B can be reviewed.
- Bring a battery-powered, non-programmable financial calculator; its memory is cleared before each section.
Our practice exam
Our practice exam gives the full 170 questions in two 3-hour sections, each with a case study and short scenarios among stand-alone questions, split across the domains by their weights. CFP Board also includes its own 170-question practice exam with registration.
Try 3 questions
Question 2Health insurance and health care costs
A client, age 67, withdraws $10,000 from her HSA to buy a new car. She has no medical expenses this year. How is the withdrawal taxed?
Question 3Distribution rules and taxation
Jack, 45, left his job and took a $100,000 check from his 401(k); the plan withheld $20,000 for taxes and sent him $80,000. He wants to avoid any tax or penalty. What should he do within 60 days?
Next step
Questions people ask
How many questions are on the CFP exam?
170 multiple-choice questions: 85 in each of two 3-hour sections.
Which domain carries the most weight?
Retirement Savings and Income Planning, at 18%, then Investment Planning at 17% and General Principles of Financial Planning at 15%.
Can I use a calculator on the CFP exam?
Yes. You bring one or more battery-powered, non-programmable financial calculators, which are inspected and must have their memory cleared before each section.