Jason,
Short answer: I'm glad I took all the courses but you'd be fine if you didn't.
Long answer: While I could have gone the challenge route, I chose to take all the course plus a full 10 week review. I started taking the courses in August 2016 and I was shooting for the November 2017 exam.
Very interesting subjects and plenty I did not already know. The courses are time consuming and the amount of material is overwhelming.
Eventually by December I realized there is just too much information to absorb completely so I decided to get through the courses so I can get started on the review. I finished the capstone in Feb, just in time for tax season. That's when I decided to shoot for the July 2017 exam. If I didn't pass at least I had November 2017 to retake. (a March exam is out of the question with tax season).
April 18th I started the review (give yourself at least 10-12 weeks). Very intense studying, lots of time away from life and life still gets in the way. The review material is a condensed version of the courses, just what you need to know to pass the exam. I remember being glad I took the course because it helped me on the review material. However, if you don't have the time or money then the review courses teach you more than you can handle anyway. I just don't think I would have done well on the capstone course without having the six previous courses first.
I did pass in July, first try. I hope my experience helps you decide. I don't think you would regret skipping the course but I don't regret taking them either.
As for CPE, I was able to overlap some of the AICPA PFS courses with my CPA CPE. Then, for some reason, the AICPA changed their format and weren't very responsive in helping me figure out how to continue, so I stopped trying that course of action. As a result, I had to retake some of the same material once I signed up for the full CFP course.
Best wishes on what ever you choose.
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Catherine Morgan
CPA
Alpharetta GA
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Original Message:
Sent: 12-01-2017 15:32
From: Jason Ross
Subject: Challenge Candidate
Hi,
I'm interested in pursuing a CFP designation. I'm currently a CPA and eligible to be a challenge candidate. Due to a busy schedule, I'd have to take all courses "self-study" instead of "live" or "live online." I have a few questions:
1) I was looking at the Kaplan package for challenge candidates. If I take only their course 107 and the Essential review for the exam, will that cover all the material I need to pass? On one hand, I don't want to cheat myself out of the education on the first 5 courses if they will be helpful. On the other, I don't want to waste time taking courses on material that I already know or will learn in a review course anyway. Will I regret skipping the first six courses?
2) I have to take continuing professional education to maintain my CPA license in 2018 anyway. What would be the best way for me to fill my CPA requirements while taking courses that will help me study for the CFP exam? I believe there is some overlap.
Thanks in advance.
-Jason
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Jason
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