My first attempt at taking the exam was over six years ago. Unfortunately, I did not adhere to the study guidelines set forth in the Dalton preparation course I’d enrolled in to prepare for exam. The biggest mistake I made was not dedicating the necessary amount of study time the CFP Board and Dalton provided as a framework for successful test takers, 225-250 hours. I simply sat for the exam too soon.
On my second attempt, I was determined to not repeat that same mistake.
Taking into consideration the amount of time since my first attempt, I decided to add 50 hours to my preparation runway. The additional time allowed me to revisit the material at a comfortable pace, but it also meant sitting for the exam one window later than I would have without taking this extra time. Given my work schedule and activities I needed to maintain throughout my studies, it would take 30 weeks at 10 hours a week to achieve a total of 300 hours. Now that the framework was in place, I set up my weekly 10-hour schedule. The bulk of my studying would need to take place on the weekends due to my work schedule. Between Saturday and Sunday, I needed to study 7 hours leaving 3 hours of study time to tackle during the week. This left me with two study free days.
For my mental health, I needed the break to do things I enjoyed especially considering that both days were still full-on workdays. It felt counterproductive but preparing for the exam is a journey which was quite lonely at times. What helped was talking about the process with my family and friends. They were my rock, very supportive, and listened.
One big thing that aided my confidence was a notecard that I read before I picked up my study material and after I completed my studies. It read, “I am learning everything I need to learn to successfully pass the exam”.
Despite my nerves and eagerness to pass the test this was a fact that I couldn’t refute. I was doing the work. I was learning everything I needed to learn. Period. In times of uncertainty, I would read that card out loud.
There are several reputable programs available to test takers. While it’s important to vet the program to ensure it works with your learning style, it’s just as important to stick to the plan set forth in the program of your choosing. Keep it simple and follow the program as it’s laid out. Don’t cut corners. Commit the time it takes to complete the coursework.
That said, as we neared the exam date about 6-8 weeks out, I reviewed most of the exam topics (1/2 on Saturday and 1/2 on Sunday) so that the material stayed fresh but on weeknights I focused my attention on the test bank only. Right around this time I started boiling my notes down that I took from the books into flash cards. I also printed the tax tables and formula sheet from the CFP Board website that would be provided on the exam and started to use that as I used the test bank, in order to simulate exam conditions.
The day before the exam I took off work, watched a couple funny movies, and didn’t review any study material. I ate well and slept well. The day of the exam, I took about 10 questions in the test bank as a pre-exam warm up. I said to myself while sitting in front of the computer just before the test began, “I’m ready. I’ve learned everything I needed to learn to pass the exam I’m about to take. Now my only job is to answer each question and pass it”.