There are several eligibility requirements for obtaining a CFMP title. Candidates must be at least 18 years old, hold a high school diploma, and be eligible for undergraduate admission into a university. Candidates who have never passed a Comptia a+ or ICM Business Management examination or Comptia A+/BSEMP examinations may not take the exams for the subsequent year. Successful applicants will need to pass three short writing essays and one more test. Prior to the exam, they should prepare for a questionnaire and oral presentation.
The process of applying for a CFMP exam is similar to that of any other licensing exam. Candidates will need to submit an application form, a curriculum vita, and details about their academic background and work experience. Upon approval of these documents, they will be able to sit for the examination. The duration of the entire examination is six months. However, there are some variations between the United Kingdom, Canada, Australia, Ireland, New Zealand, and American countries.
In the United Kingdom, a candidate will need to register with the Companies’ Council for Professional Development (CPDA), before taking the test. CPDA will assign a fee, which will serve as the benchmark for applicants. After receiving the fee, candidates can request for a refund if they do not pass the examination. CPDA has different regulations in Canada, Australia, and Ireland, and in the United States, a candidate cannot request for a refund once they have submitted their application due date. However, if a candidate manages to pass the exam and receive a CPDA certification, they can then enter into a contract for employment with any of the Canadian banks that are accredited by CPDA.
For international applicants, the process of applying for a CFMP certification is different from that of local applicants. Candidates need to fill out an application form, and they are required to provide financial statements and resume. Before a candidate can apply for a CPDA registration, they must register with the Canadian Bank Marketing Professionals (CBMP) Registration. Once a candidate has registered with the CMP, they will receive a unique identification number. On their ID, they will see a series of four numbers.
The four numbers will be paired up, and the first number corresponds to the International Standard for Professional Assessment (ISPM). Candidates who pass this exam, and complete all other requirements, will receive a CFPI certification. To maintain CPDA membership, financial marketing professionals must update their registration every two years.
In order to prepare for the CFA exam, financial planners and practitioners must attend training classes, and they should also refer to the CPDA’s Brochure and glossary of financial terms. The CFA exam contains five modules; Financial Modeling, Processes and Measurement, Process Design and Analysis, Financial Reporting and Auditing and Assurance. Each of these areas will require specific knowledge and skill sets, and it is important for these aspects to be covered well. In addition, a candidate’s knowledge in finance and accounting will also play a role in this exam.
Once a candidate has received the necessary CFPI training and passed the exam, they will need to join an appropriate CFA exam board. Some examiners will not allow candidates who are new to the industry to become members until they have proven their CFA competence. However, even if a candidate does not join an appropriate CFA association right away, he or she should research different associations to find out what their requirements are. Most of these associations will accept applications from candidates who are new to the industry but will conduct background checks on past CFA examiners. Candidates who successfully complete the prerequisite courses and pass the exam will then be considered for membership.
