CFP & QAFP FAQs

Everything you need to know about CFP and QAFP

 

What does CFP and QAFP stand for?

Certified Financial Planner™ (CFP)
Qualified Associate Financial Planner™ (QAFP)

 

Are there any pre-requisites for the CFP program? 

No, but you do need to have 3 years of related work experience in order to hold the CFP designation once you’ve passed the CFP Examination. 1 year of related work experience for the QAFP certification.

 

I have previously completed parts of the CFP curriculum with another provider (Advocis, CSI, CIFP); will I get any equivalency into your program?

Yes, we grant you some equivalency into our program for courses you have completed within the last 3 years. You will need to provide a transcript to receive equivalencies. There is no additional charge for this.

 

I have a Life Insurance License and Mutual Funds license; will I get any equivalency in the CFP program? 

Yes, having both of these qualifications means that you have met the requirements for the material in Unit 4. This would mean that you can bypass this Unit and go right to Unit 5 after you have finished Unit 3. If you choose to do this there will be a $75 fee for Education Verification with FP Canada when you go to register for your next courses with them.  

 

Are there any deadlines for the assignments and quizzes? 

For both our live webinar classes and our self-paced students there are no specific deadlines to complete our course work. However, your deadlines would be based on when you are aiming to write the exam and when you want to move onto the FP Canada courses.  

 

If I have content-related questions, do I have access to the instructor? 

Yes, please direct your content-related questions to our instructor (Jason Watt) via the 'Discussion boards' found at the top of each course. Feel free to post your discussion topics and Jason will respond typically within a few hours – he monitors these discussion boards daily.  

 

Can I buy hard copies of the textbook? 

Yes textbooks are available for purchase on our website here.  

 

How long does it take to work through the program? 

Including the FP Canada courses, it’s a 14-16 month process depending on when you get started and which exam you are aiming to write. For the Core Curriculum, it will take you roughly 150 hours to complete all 7 Units going the self-study route. If you choose to attend the webinars then it will take roughly 250 hours to work through the 7 Units. We recommend setting aside 10-15 hours a week.  

 

How does the live webinar differ from the recordings? 

The recordings are from the live day so there is no difference in terms of information learned. In the live webinars you will be able to ask the instructor questions in-person. For the recordings you are to reach the instructor through the Discussion Forums in your online resources.

 

Should I buy FP Canada’s practice exam? 

Available for purchase when you register for the exam, the FP Canada practice exam is another good study tool. We recommend using this practice exam a week or two before the actual exam.

 

How long will it take to complete the Advanced Curriculum? 

The Advanced Curriculum is made up of a total of 6 chapters. It is roughly 30 hours of self study, or 50 hours of webinar instruction.  

 

What does my timeline look like? 

Please contact the Student Advisor to make your timeline. These timelines are based on which exam you are aiming to write and when you’re aiming to write it.  

 

Are there any exams? 

Our Core and Advanced Curriculum requires that you complete assignments and chapter quizzes.
The final exam will be written with FP Canada.  

 

Do you have study guides? 

Yes, we currently have a study guide that works through the program in 22 weeks. This roughly follows the same sort of timeline followed by the live webinar class.

 

Do you have any classroom sessions? 

Yes, we have a live webinar that teaches the Core and Advanced Curriculum over 22 weeks. There is 1 session each week that runs from 8:00am MT to 4:30pm MT.  

 

What kind of documentation will I receive from BCC upon completing the course work? 

You will receive a transcript that will need to be submitted to FP Canada when you are registering for either the Professional Education Program or the exam, whichever happens first in your particular path.  

 

What courses are there with FP Canada? 

You will need to complete the Introduction to Professional Ethics (IPE) and the Professional Education Program (PEP) courses with FP Canada.  

 

When can I take them in my path to certification? 

You can take the Introduction to Professional Ethics (IPE) course before you are finished with the BCC courses. You will need to complete the IPE course before you move onto any next step with FP Canada so it is a good idea to get it done before you are done Unit 6. In order to start the Professional Education Program you will need to have the course work finished with BCC and have a transcript for FP Canada showing that you are ready for this next step.  

 

What kind of support can BCC offer while I’m working on these courses? 

BCC does not have access to these courses with FP Canada. We can provide you with as much assistance as possible, however, it is best to reach out directly to FP Canada at info@fpcanada.ca for questions regarding their two courses.  

 

Do you provide any Professional Responsibility credits? 

Yes, we have continuing education (CE) courses that can be completed online and at your own pace which will give you credits that can be used towards the Professional Responsibility category with FP Canada. 

 

How do I finish the CFP?

Here is the path to CFP:

  1. Core Curriculum
  2. Advanced Curriculum
  3. Introduction to Professional Ethics (IPE)
  4. CFP Professional Education Program (PEP)
  5. CFP Exam (+ 3 years of work experience). Also outlined on FP Canada's website here.


How do I finish the QAFP?

Here is the path to QAFP:

  1. Core Curriculum
  2. Introduction to Professional Ethics (IPE)
  3. QAFP Exam
  4. Professional Education Program (QAFP PEP) (+ 1 year of work experience). Also outlined on FP Canada's website here.

 

Can I get the CFP after finishing the QAFP?

Yes you can. The path after QAFP certification would look like this:

  1. Advanced Curriculum
  2. Bridge Program (bridges between the QAFP PEP and the CFP PEP)
  3. CFP Exam

 

Are there any other alternative paths to the CFP?

Yes there are. Please refer to this page on FP Canada's site where they offer information and explanations on other routes to the CFP designation for this who may have prior qualifications such as the CPA.

 

Do I need to have any prior work experience to start the QAFP or CFP program?

No you don't, but you will need to have work experience in order to hold the designation after you have completed the program. For information related to work experience requirements for FP Canada please check out this page

 

Are there any post-secondary requirements for the QAFP or CFP program?

Yes as of April 1, 2022, you will be required to have a 4-year post-secondary degree to obtain the CFP designation. For those seeking the QAFP certification, you will need to have a 2-year post-secondary diploma. For more information on the post-secondary requirements please go to this page on FP Canada's site.

 

Any other items I should buy for this course?

You will need to have an FP Canada-approved Financial Calculator (full list available on pages 23-24 on FP Canada's CFP Certification Guide). Starting in Unit 2 of our program we will begin covering the Financial Calculator.

 

Accessing my account and CFP resources.

After you have successfully registered and created your account, you will be able to login and access your course materials right away.
  1. Go to www.businesscareercollege.com and login on the top right part of the page.
  2. Click on "My Courses" on the left-hand menu.
  3. Your courses will be listed here and you can now click "Begin" on a course to get started*.
*For those who have registered via the Subscription, you will have one additional step after logging in. Go to "My Subscriptions" first and from here you can now click either "Begin" or "Add to My Courses" for each of the Units and they will then be added to the "My Courses" page. 

 

Do I need to print anything off?

It is recommended that you print off the seven case studies that you will be referring to while completing the assignments and quizzes. These case studies are found by going into Unit 1 and opening "Resources" at the top of the page. If you prefer to read a physical copy of the textbook you could choose to print off the PDF's for the text, or you can also purchase the physical copies of the books on our website here.


How do I find the PDF's for the textbook?

 

How are we assessed in this program?

We have assignments and quizzes that will test you on the content while you are working through the Units. Each Unit will contain 3 chapters with chapter quizzes and assignments. In order to successfully complete our program you must score 60% or higher on each assignment and quiz. Once you have achieved that 60% the system will mark it as completed and you can go onto the next item. 

 

Can I do the quizzes and assignments more than once?

Yes you can. You can submit the assignments as many times as needed until you've passed and the quizzes can be written multiple times as well. 

 

What are some best practices to finishing the Core and Advanced Curriculum?

We recommend setting time aside each day to work on the program. Consistency and time management plays a big role in ensuring that you complete the program in a timely manner. The biggest issue our students face is finding enough time to work on the program, so the earlier you get into a good study routine the better. Another tip is to take this program just one chapter at a time; start with chapter 1 and then work your way down from there. Take the Advisor hat off and put the Student hat on when you're in this course. 

 

Who can I go to if I have any content-related questions?

You have access to the instructor (Jason Watt) for any content-related questions via Discussion boards that are found within each course. After you have logged in, click on the course you are working on and right at the top of the course you'll see a blue "Discussion" button. Here you will see a message board where others have posted their topics and you can click through those, or add your own topic and the instructor will respond.

 

Who can I go to if I'm having issues with my account?

Please reach out to our Support team at BCCHelp@weknowtraining.ca or by phone 877-934-5577. They can assist with any account or payment inquiries. 

 

Who can I go to if I have any questions about my progress?

If you would ever like to discuss your progress and/or having an accountability partner, please feel free to reach out to our CFP Program Advisor at kelsey.mcguinty@businesscareercollege.com. 

 

Do I get any CE credits for completing the CFP program?

Yes you will. Each of our Core and Advanced Curriculum Units have been accredited for CE credits for provincial Life and A&S licenses. 

 

Do I get any equivalencies for completing courses with other providers?

Yes we can provide equivalencies for eligible courses that have been completed within the last 3 years. To see if your courses are eligible please email your transcript to our CFP Program Advisor at kelsey.mcguinty@businesscareercollege.com.

 

I am going direct to CFP and I have finished Units 1-6, what are my next steps?

You will now need to complete the Advanced Curriculum which is a total of one Unit (6 chapters) with a new case study. This will be your final course with BCC.

 

I am going taking the QAFP to CFP route and I have finished Units 1-6, what are my next steps?

You are now ready to go onto the FP Canada course, Introduction to Professional Ethics (IPE) and then you are eligible to write the QAFP exam. 

 

How do I receive my transcript?

The transcript will be emailed to you by our BCC Help Team. In this email they will be asking for your permission to send it to FP Canada. 

 

Who is FP Canada?

They are the professional body who takes care of the CFP and QAFP designations. They manage the certification exams, continuing education, and yearly maintenance of the designations. There are also two courses that you need to complete with FP Canada. FP Canada have approved our Core & Advanced Curriculum, otherwise we have no affiliation. 

 

How do I create my FP Canada account?

You can go to the FP Canada website and they have a Log In button on the top right part of the page. From there you can login, or create an account. 

 

Where is my FP Canada ID?

Your FP Canada ID will be associated to your FP Canada account. If you have any questions regarding your FP Canada account please reach out to FP Canada directly at info@fpcanada.ca. 

 

How do I access Introduction to Professional Ethics (IPE)?

This course will be purchased and accessed through your FP Canada account. Please reach out to FP Canada directly for assistance at info@fpcanada.ca. 

 

Do you have an Exam Prep course for the QAFP Exam?

Our QAFP exam prep course consists of 2 full-length mock exams which you will dissect with the instructor either by attending live webinars, or viewing recordings on your time. Our webinars focus on reviewing the questions, going over exam writing strategies, and time management tips for the day of the exam. For information please go to our website here.

 

How much does it cost to write the QAFP exam?

For current pricing info please go to FP Canada's website here. Please be advised that there is an Early Bird registration period which begins when exam registration opens up (typically 4-5 months before the exam) and ending about 2 months before the exam is set to begin.

 

Where do I write the QAFP exam?

The QAFP exam is written either online or in-person. For a full list of in-person exam write locations, please refer to page 8 in FP Canada's Guide to the QAFP Examination available here.

 

When is the QAFP exam offered?

The QAFP exam is offered three times a year. Typically January, May, and October, however dates are subject to change. FP Canada announces the exam dates typically one set of dates at a time.

 

What are my next steps after writing the QAFP exam?

After writing the QAFP exam, you can choose to stop with your QAFP or you can go onto the full CFP. If you are stopping at the QAFP your next (and final) step will be to complete the QAFP Professional Education Program (QAFP PEP). If you are continuing onto the rest of the CFP, your next steps will be to finish the Advanced Curriculum (Unit 7 with BCC), followed by the CFP Professional Education Program (CFP PEP), then you're eligible to write the CFP exam. If you have any questions around what path you should take, please reach out to our Student Advisor who will be able to discuss these options with you.

 

How long does it take to complete the Advanced Curriculum (Unit 7)?

The Advanced Curriculum consists of a total of 6 chapters and takes about 30-50 hours to complete. 

 

Are there any new case studies in the Advanced Curriculum?

Yes there will be one new case study that is introduced (Peter) for this Unit.

 

Does BCC have a final exam? 

No BCC does not have a final exam. We assess your learning through the chapter assignments and quizzes that are completed along the way through each Unit.

 

How do I access the Professional Education Program?

The QAFP and the CFP Professional Education Programs are purchased and available through your FP Canada account. Please take a look at this link for the QAFP Professional Education Program, or this link for the CFP Professional Education Program.

 

Do you have to complete the CFP Professional Education Program (CFP PEP) to write the CFP exam?

Yes you do. The CFP Professional Education Program (CFP PEP) will need to be completed at least 2 months before the CFP exam you're aiming to write. For current deadlines please reach out to FP Canada directly at info@fpcanada.ca.

 

Do you have an Exam Prep course for the CFP exam?

Our CFP exam prep course consists of 2 full-length mock exams which you will dissect with the instructor either by attending live webinars, or viewing recordings on your time. Our webinars focus on reviewing the questions, going over exam writing strategies, and time management tips for the day of the exam. For information please go to our website here.


Selecting an exam prep webinar after registration.

 

How do I find the CFP/QAFP mock exams?

 

How many times can you write the mock exams?

Our mock exams have unlimited attempts. 

 

How to view Exam Prep webinar recordings.

 

What does FP Canada provide for Exam Prep?

FP Canada has a practice exam that you can purchase when you register for the exam. This mock exam can only be written once and you will be timed. It is a good way to test your timing as well as get a good feel for the format of their exam. 

 

How much does it cost to write the CFP Exam?

For current pricing info please go to FP Canada's website here. Please be advised that there is an Early Bird registration period which begins when exam registration opens up (typically 4-5 months before the exam) and ending about 2 months before the exam is set to begin.

 

How many times can you write the exams with FP Canada?

You will have 4 attempts at writing the CFP exam and you also have 4 attempts to write the QAFP exam.

 

How long does it take to receive your grade back from FP Canada?

Typically it takes about 4-6 weeks for the results to be released. You will receive an email from FP Canada stating your results are ready to be viewed in your account once they've been released. 

 

Are there other designations I can get after finishing the CFP?

Some common paths that others take after finishing the CFP is completing the CLU and/or the CHS designations. Both of these designations require that you have all (or part) of the Core Curriculum completed, so after finishing you're CFP you will have met that requirement and can get started on the CLU and/or CHS courses with Advocis right away.

 

I have an active Life license and Mutual Funds license, do I get any equivalencies in the Core Curriculum?

Yes, for having an active Life and Mutual Funds license you are eligible to bypass Unit 4 with BCC. However, it is our recommendation that you consider completing Unit 4 to ensure that you are learning the information in the way that FP Canada are expecting you to. Ultimately, doing the quizzes and assignments in Unit 4 will help you in preparing for the exam. To apply for these equivalencies you will need to go through the Education Exemption process with FP Canada which includes a $75 fee. More information on FP Canada's Education Exemption can be found here.

 

How do I use the "Review Course" resources?

 

How do I submit assignments, check feedback, and ask the grader questions?

 

Length of the QAFP Program

Typically takes about 12-14 months to complete the entire program including the steps with FP Canada and writing the QAFP Exam.

 

What is the Core Curriculum?

The Core Curriculum is the first step to achieving the QAFP or CFP certification. It consists of 6 Units for a total of 18 chapters in the Core Curriculum. After successful completion of the Core Curriculum you would be eligible to write the QAFP Exam, or to continue onto Unit 7 for those aiming for CFP certification.

 

What is the Advanced Curriculum?

The Advanced Curriculum contains one Unit (Unit 7) and is the final Unit for those working towards the CFP certification. After successful completion of this course you would be eligible to continue to FP Canada and complete their two courses (Introduction to Professional Ethics and Professional Education Program) before writing the CFP exam.

 

Who can I go to if I have questions on the path to CFP/QAFP certification?

Please ensure you are checking out FP Canada's pages on the paths to certification:

Direct Path to CFP Certification

Direct Path to QAFP Certification

QAFP Bridge to CFP Certification

Questions and/or would like a personalized timeline based on your goals? Please feel free to book a call with our CFP Student Advisor. 

 

Looking for a receipt or certificate?

Click here for receipt article

Click here for certificate article

 

When are the Exam Prep Courses offered?

Our exam prep courses can be purchased at any time and the live instruction component typically starts about 2 months before the exam itself. 

If you purchase the recorded option, you will get access to the previously recorded webinars as well as any of the new webinars being taught so you will always have access to the most recent material.

If you purchased the live webinar option, you too will get access to previously recorded webinars and any new webinars as well. 

 

What do I get access to with the purchase of the Exam Prep course?

  Contains: QAFP Prep CFP Prep
Review Course (Core Curriculum)

Units 1-6 course material (textbook, webinar recordings, chapter review quizzes)

Review Course (Advanced Curriculum) Unit 7 course material (textbook, webinar recordings, chapter review quizzes) -
QAFP Exam Prep 2 full length mock exams and exam prep webinar recordings
CFP Exam Prep 2 full length mock exams and exam prep webinar recordings -
Live instruction Only:
QAFP Exam Prep Live Webinars This is where you would select your live dates if you're attending the live webinars -
CFP Exam Prep Live Webinars This is where you would select your live dates if you're attending the live webinars -

Please Note: You will only get access to the Live Webinars course if you have selected to purchase the Live Webinar option. 

 

Where are the mock exams for CFP and QAFP Exam prep?

Mock exams and solutions are available directly within either the CFP Exam Prep Course or the QAFP Exam Prep Course, depending on which one you're looking for. 

1. Log into the site

2. Go to "My Courses" on the left-side menu.

3. Go to "CFP Exam Prep Course" for the CFP mock exams, or go to "QAFP Exam Prep Course" for the QAFP mock exams.

4. If this is your first time in the course you will have to accept the Academic Code of Conduct before the contents of the course will be available.