I took the CFP® exam four times before I finally passed. I know what you're going through. I've been there. It hurts, it's frustrating, and you might be wondering if you're wasting your time. I'm here to tell you that you can do this.
Here are my tips on how to approach the CFP® exam:
- First, don't let the results discourage you. After you take some time to relax, take an objective look at where you were before the exam. Was there something you still didn't fully understand? Focus on those topics or areas, but make sure to cover everything, not just those weak areas. You might have strengths this time that can turn into weaknesses next time.
- Practice, practice, practice! You can't over-study for this exam; it's impossible. Focus more on practice questions than trying to memorize materials. Take note of your scores by topic along the way, especially low outliers. Those are the areas you can and should address with study materials. I suggest working practice questions until you're sick of them.
- Review each answer after you've completed a set of practice questions, even the ones you got right. It serves as a self-check on your reasoning. The reasoning is consistent throughout the exam, so if you're reasoning correctly in practice, it will be correct during the exam.
- This sounds simple, but answer what the question is asking. Sure, the choices might offer good suggestions in a scenario, but is that actually answering what the question asked? You can know every rule sideways and that won't matter if you didn't answer what the question asked.
- It works out to be about two minutes per question. Some might take longer; some might not take as long. Mark the questions that will be hard for you and move on to other questions; circle around to the marked questions when you have time. Don't leave anything unanswered, even if you have to guess.
- Confidence is essential. Doubting your reasoning during the exam is asking to fail. Breathe. Take a few slow, deep breaths just before you start the exam.
I finally passed the exam on my fourth attempt, and I put in over 200 hours each time. I needed the first three attempts as practice. I failed, learned from the failures, and persevered. This exam rewards perseverance. If I can do this, you can too! Keep up the momentum. Keep your chin up. The reward is worth the struggle.