QAFP™ Exam Breakdown

Financial Planning Areas

Category Low Mid High
Fundamental Financial Planning Practices 11% 16% 21%
Financial Management 12% 17% 22%
Investment Planning 11% 16% 21%
Insurance and Risk Management 8% 13% 18%
Tax Planning 7% 12% 17%
Retirement Planning 9% 14% 19%
Estate Planning and Legal Aspects 7% 12% 17%
Total 100%

Question Type Breakdown


Independent – 73 Questions
Case Study – 20 Questions
Total – 93 Questions

Financial Planning Functions

  • Collection: gathering the client’s information
    • Gathering both quantitative and qualitative information
    • Identifying relevant facts and documentation
    • Preparing and organizing information in a way that allows for appropriate analysis
  • Analysis: assesses the client’s situation and identifies and evaluates appropriate strategies
    • Identifying issues and opportunities
    • Performing required calculations
    • Developing projections
    • Preparing and assessing the resulting information to identify and evaluate appropriate strategies
  • Recommendation: develops recommendations to help optimize the client’s situation
    • Developing recommendations, in order of priority, that help meet the client’s personal goals, needs and priorities

Financial Planning Functions

Category Low Mid High
Collection
Fundamental financial planning practices collection 3% 6% 9%
Gathers and prepares quantitative information 12% 17% 22%
Gathers qualitative information 8% 13% 18%
Analysis
Fundamental financial planning practices analysis 3% 6% 9%
Assesses the client’s situation 13% 18% 23%
Considers and evaluates strategies 16% 21% 26%
Recommendations
Fundamental financial planning practices recommendations 3% 6% 9%
Develops recommendations to help optimize the client’s situation 13% 18% 23%
Total 100%

Level of Complexity

Increases as the difficulty of the situation and information to process increases and the number of variables to consider and the need to integrate variables increases

Basic

  • Application of knowledge to various facets of financial planning to simple financial planning situations
  • May require basic calculations
  • Evaluation across single or small number of topics
  • Making simple recommendations

Moderate

  • Application of knowledge in avg financial planning situations with multiple variables
  • Requires processing of a number of elements to identify a solution or formulate a recommendation
  • May require multi-step calculations and the assessment and integration of multiple variables and interrelated factors

High

  • Application of advanced knowledge of complex financial planning situations
  • Involves multiple variables and considerable integration to analyze situations and form recommendations

Category Low Mid High
Basic 38% 42% 46%
Moderate 49% 53% 57%
High 2% 6% 10%
Total 100%