CGMA

 Qualification

Financial Planning Standards Board (FPSB) India manages and conducts the CFP programme in India.

With the syllabus covering personal finance, risk and insurance planning, retirement planning, estate planning, and taxation planning; the CFP certification prepares you for a sound and successful career in personal finance and investment planning.

With most of banking, finance and investment organisation looking for a Certified Financial Planner (CFP) the career opportunities are immense. 

Qualification

There are two entry routes to the CFP progamme:

1) The Regular Program

In this route the syllabus is spread over 5 exams

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• Eligibility is open for anyone who has cleared Std. 12th / HSC

• Work experience is not mandatory to apply

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2) The Challenge Status Program

This route has just one exam that covers the entire syllabus.

To be able to apply under this program you have to meet certain criteria:

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• You should have a post graduate degree / CA / MBA or CFA or other degrees as mentioned here

• You also need work experience of 3-5 years before applying for this program

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Once you clear the exams, you can sign the Code of Ethics, be a certified CFP and use the trademark CFP Marks.

If you take up the Regular Program, to use the CFP Marks (the trademarks), you have to acquire work experience of 3-5 years

Once you are certified, one can join the ranks of other CFP professionals, forming an exclusive network of qualified financial planners

syllabus

Module 1 : Introduction to Financial Planning

It covers the six-steps process which includes:

• Financial Planning process

• Client interactions

• Time value of money applications

• Personal financial statements

• Cash flow and debt management

• Asset acquisition

• Education planning

• Overview of risk management

• Investment planning

• Retirement planning

• Special circumstances

• Plan integration

• Ethics and business aspects of financial planning

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Module 2 : Risk Analysis and Insurance Planning

• Risk management and insurance decisions in personal Financial Planning

• Identifying client's exposures to Mortality, Health, Disability, Property, Liability and long term care risk is emphasized

• Selecting the appropriate risk management technique

• Insurance pricing

• Various Insurance policies & strategies:

  • General Insurance

  • Life Insurance

  • Motor Insurance

  • Medical Insurance

  • Insurance of business risk

  • Regulation of Insurance Industry

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Module 3 : Retirement Planning and Employee Benefits

• Retirement need analysis techniques

• Development of retirement plans

• Various retirement schemes such as:

  • Employees Provident Fund (EPF)

  • Public Provident Fund (PPF)

  • Super Annuation Fund

  • Gratuity

  • Other Pension Plans, Post Retirement Counselling

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Module 4 : Investment Planning

• Risk Return Analysis

• Mutual Funds

• Derivatives

• Asset Allocation

• Investment Strategies

• Portfolio Construction & Management

• Regulation of an Investment Advisor

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Module 5 : Tax and Estate Planning

Tax Planning :

• Income Tax Computation

• Capital Gain & Indexation

• House property

• Deductions & Allowances

• Non Resident Indian Tax Laws

• Tax Management Techniques

Estate Planning :

• Wills, Trust, Indian Succession Act

• Power of Attorney

• Joint ownership of property

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Module 6 : Advanced Financial Planning

• Establishing client planner relationship

• Analyze client objectives, needs & financial situation

• Developing the financial plan

• Implementing the financial plan

• Monitoring the financial plan

assessment

The exams are computer based and can be booked through NSE's website.

Examination Pattern (Exam 1 to 4) - 2 Hours

• The Questions are based on respective Modules of the CFPCM Certification Curriculum

• The candidates will answer a multiple choice objective type examination,administered on-line by NSE.

•  All questions are designed to have a question body with 4 alternative options.

•  There is no negative marking.

•  The following is the Question Paper Pattern.

• One-fifth of the marks will be allotted in each of Exam 1 – 4 to the module “Introduction to Financial Planning”

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Total 77 Questions for 150 Marks for marks ranging from 1-4.

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Examination Pattern (Exam 5) - 4 Hours

   FPSB India shall upload on their website probable case studies, out of which any two will be asked in the examination.

The case studies depicting real life scenario of individual Financial Planning situations.

   Each question will carry pre-specified marks for each correct answer.

   Students will be evaluated based on the following learning objectives:

   Determining the client’s financial status by analyzing and evaluating the client's information.

   Ability to comprehend and analyze client specific situations and select the best solution among the given options. This entails a thorough and sound understanding of the well-defined comprehensive CFPCM certification curriculum, covering all the modules (Module I to Module VI).

   The following is the Question Paper Pattern for each of the two case studies to be asked in Exam 5/CSP.

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Total 15 questions for 50 Marks for marks ranging from 2-5 marks.

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Grading

GradeScore (Percentage)

A - Equal and above 75%

B - Equal and above 60% and less than 75%

C - Equal and above 50% and less than 60%

Fail- Less than 50%

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Results are available immediately after submitting the answers.

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