Testing out of CFP® Education | BIF

Earning your CFP^® certification marks a major milestone in your financial planning career, but there's no question that completing the required CFP^® Education can take time. But what if you could put the credentials you've already earned to work to bypass some (if not all) of the classes?  

If you hold select industry designations, CFP Board and BIF allows you to turn your past hard work into immediate progress. You can earn direct credit, test out of specific courses, or transfer previous coursework. This approach can save you months of time and a lot of money while fast-tracking your path to certification! 

The Standard CFP^® Education Requirements

First, let's start with the basics and the education requirements. CFP Board requires candidates to complete a comprehensive, college-level program of study in personal financial planning with seven distinct courses:

1. Introduction to Financial Planning
2. Insurance Planning
3. Investment Planning
4. Tax Planning
5. Retirement Savings and Income Planning
6. Estate Planning
7. Financial Plan Development (Capstone)

Completing all seven courses takes most professionals nine to eighteen months (though BIF is set up to make it as streamlined and painless as possible to work through all the courses!). However, your existing credentials can significantly reduce that timeline.

Leverage Your Existing Designations

CFP Board recognizes how much expertise comes with holding specific industry designations. Depending on the designation, you qualify for either direct course credit or an opportunity to test out of a requirement.

Accelerated Path

For specific credentials, you can skip all of the required coursework except the Capstone course. These include: 

• Certified Public Accountant (CPA)

• Chartered Financial Analyst (CFA®)

• Chartered Financial Consultant (ChFC®)

• Chartered Life Underwriter (CLU®)

• Licensed attorney Doctor of Business Administration PhD in Financial Planning, Finance, Business Administration or Economics

• Official CFP® certification from outside the United States 

If you hold any of these credentials, you'll need to have it verified by CFP Board but can then move on to completing the Capstone course, saving you months of coursework!

Learn more here: Can You Take an Accelerated Path to CFP^® Certification?

Earn Direct Course Credit

Direct credit means you automatically satisfy the education requirement for a specific course. You do not need to take the course materials or pass a final exam for that section. You simply provide proof of your active designation, and we apply the credit to your BIF student profile.

The "Test Out" Option

Some designations qualify you to test out of Course 1: Introduction to Financial Planning. To use this option, you purchase the course and immediately access the final exam. Once you pass that exam, you satisfy the course requirement without needing to complete the weekly modules or assignments, saving you several weeks of time.

Eligible Designations at a Glance

Review the list below to see if your current credentials qualify you for immediate credit or a test-out opportunity. Remember, you can apply these benefits to a maximum of two courses.

Transfer Credits from Other Providers

Perhaps you started your CFP^® education journey elsewhere but want to finish your coursework with BIF. You do not have to start over from the beginning.

If you previously completed a comparable CFP^® course with another CFP Board Registered provider, BIF accepts direct transfer credits. You can transfer up to two completed courses into our program. Simply provide your course completion certificate showing a passing result. Our team will review your documentation and apply the appropriate credits to your account.

Take the Next Step with BIF

Your past professional development should count toward your future success. By taking advantage of direct credits, test-out options, and transfer credits, you cut down your study time and reduce your overall tuition costs.

Reach out to our Student Success Team to learn how we can help youmap out the fastest, most efficient route to earning your CFP^® certification.