Sample of Practice CFP® Exam Questions
One of the keys to being truly “exam ready” for the CFP® exam is to work as many sample practice CFP® exam questions as possible. There are a number of benefits to working practice CFP® exam questions; here are a few:
- It gives you an opportunity to practice what you know.
- It will identify what you don’t know.
- By getting questions right (and wrong) you are also learning the subtleties of how questions can be asked and how they should be answered.
- Sometimes there are differences between academic and real world questions, such as margin trading and how much equity an investor is required to contribute under a margin call.
I remember a students saying to me one time... “I know the material. I know the material when you teach it and I know the material when we work a question in class. However, when I work a problem on the same material by myself, I get it wrong.” My response was, “Then you really don’t know the material. You need to change the way you’re thinking and keep working practice questions on the topics you think you know. Once your scores are 70%+, then you “know the material,” so keep working the practice CFP® exam questions.”
I would suggest that at least half of your preparation time for the CFP® exam should be spent working sample CFP® exam questions. As a benchmark, that means spending about 100 hours, working about 3,000 questions in total. As part of The Dalton Review® for the CFP® exam, we have approximately 1,500 questions in our pre-study materials and another 1,500 questions in our Online Examiner Test Bank. Many of the questions in the pre-study materials and the Online Examiner Test Bank were developed by former members of the CFP Board of Examiners.
Request CFP® Exam Sample Questions for Free
Check out our FREE CFP® exam sample questions to test your level of knowledge. Reprinted from THE DALTON REVIEW® Online Questions Bank, these are moderate difficulty questions, similar to what you can expect on the CFP® exam.
How Many Questions Are on the CFP® Exam?
The CFP® exam is a computer-based test consisting of 170 multiple-choice questions which you can answer within two 3-hour sections, each divided into two subsections. The CFP® exam questions cover five key areas of fundamentals of financial planning, insurance planning, investments, income taxation, retirement and employee benefits and estate planning.
What Types of Questions Are on the CFP® Exam?
The CFP® exam questions fall into three buckets: short scenarios, stand-alone, and case studies. Case studies are an opportunity for students to showcase and apply course material knowledge to real-world scenarios. There are typically between 8 and 12 questions per case study.
Scenario-based questions follow a multiple-question format, with 3 questions per scenario displayed on the left side of the screen and the accompanying questions on the right, presented one at a time. Lastly, 2-3 sentence long stand-alone questions come with 4-answer options to choose from.
What Is the CFP® Exam Format?
Three hours are provided for the first 85 questions and another 3 hours for the last 85 questions. Each section is subdivided into two subsections. Candidates may take an optional unscheduled break after question 43 of the first subsection.
What Is the Hardest Section of the CFP® Exam?
Generally, the hardest area for students tends to be tax, retirement and estate planning. In fact, passing or failing the exam often comes down to the difference between getting 5-7 questions right or wrong, in those subject areas.
CFP® Exam Prep Courses With Practice Tests
Our comprehensive CFP® exam review packages are designed to equip candidates with the educational tools and confidence they need to perform at their best and pass the exam with flying colors. Our CFP® exam review packages include:
- Thousands of practice CFP® exam practice questions
- Study guides with cases from past CFP® exams
- Exam Readiness Assessment to determine your chances of passing
- Recorded online lectures on the most important exam topics
- Attend live online or traditional classroom reviews, or attend both at no extra cost
- All live online review lectures are recorded and available for playback any time.
Take it a step further with our Guarantee to Pass™ bundle, which ensures you either pass or receive your money back. Our Guarantee to Pass™ package includes:
- One-on-one coaching sessions after the Review Readiness and Exam Readiness Assessments
- ~20 hours of Supplemental Lectures covering the most challenging concepts that could be tested
- Supplemental Questions and Answer Lectures designed to stretch your knowledge so that regardless of how hard a question is asked, you will get it right.
Joseph M. Gillice, CPA, CFP®
Dalton Education, LLC
What Professionals Say About Dalton
"I recommend Dalton's CFP study program to anyone who is planning to sit for the test. It is thorough, well guided, and offers many resources for individual support. I can honestly say that I went into the exam KNOWING that I was going to pass."
"It came down to the enrollment advisor's responsiveness in addressing my questions/concerns as primary and then the ability to be flexible with online courses and working through the coursework. Absolutely would recommend Dalton! After having taken the exam (and passed!) last week, I appreciate Dalton's questions even more as they were more realistic to what I saw on the exam. Thank you! Keep up the good work!"
"Combined with hard work and dedication, Dalton Education made sure I had what was needed in order to succeed. Without their experience, diligence, and structure, I would have spent more time worrying about what to study and when rather than putting in the hours needed to pass. Dalton knows how to get it done the first time around!"
"I have thoroughly enjoyed the Dalton Education CFP study program. I completed the 10 week review for the exam, including a 4 day live review. I successfully passed the CFP exam and I owe my success to Dalton and their incredible team of instructors. The Dalton materials, coursework, virtual classroom and schedule are not only intuitive and user friendly for a working mother, but they are top notch. I felt prepared for the exam, and after passing the exam I realized how Dalton had not only prepared me for everything but they over prepared me. I have a deep understanding for financial planning, and I look forward to taking my career to the next level. Thank you Dalton! A huge shout out to a team of highly intelligent and helpful instructors!"
"Dalton provided me the materials, resources, and structure that I needed to complete my certification. From the beginning, I greatly appreciated a detailed schedule for staying on track with the material while allowing you the flexibility between deadlines to manage your work and personal life alongside my certification work. It helped me plan study time accordingly and gave me a practical benchmark for preparation time. That said, each professor teaching the material stood out to me whether it was because of their experience with the CFP exam, pedigree, and/or knowledge and presentation of the material."
"What I love about the CFP course through Dalton is the flexibility. I have co-workers who are taking the program through other providers and they are stuck all day on a Saturday reviewing and taking tests – not for me. Also, the exam prep materials are amazing! I love the flash cards and the Quick Sheets. The instructors are amazing and I have felt very supported along the way. I would definitely recommend Dalton to others."
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