You may be eligible to CFP partial exemption (exempted for 1 or more modules) or CFP Challenge Status, i.e. get up to 5 exemptions and go straight to Module 6, the last paper. The information provided below will give you a clearer picture on whether you are qualified for partial exemption or Challenge Status or not.

Besides these, if you have completed CFP programme, you may be eligible to take up IFP Challenge Status of Islamic Financial Planner Certification program (IFP) - exempted for 5 modules an go straight to IFP Module 6.

Another good news is: if you intend to seek dual recognition: CFP and RFP (Registered Financial Planner), a CFP holder is exempted for 4 RFP modules plus more.

Click on the links below for more information.

• CFP Modular (Partial) Exemption

FPAM recognizes that certain professional qualifications cover some of the components in financial planning and have decided to waive certain CFP Modules for eligible members. Holders of these degrees and/or credentials are exempted from the following CFP modules:

How to apply for CFP Partial Exemption?

Download the application form below and follow the instruction on the form, submit required documents with the completed form and send it to FPAM or KMDC.

Download Application Form for applying for partial exemption (PDF file).

go to Top

• CFP Challenge Status - Skip 5 modules and go direct to Module 6

Members having the following qualification and/or professional credentials and have gained 3 years of personal finance related experience are eligible to apply for the CFP challenge status. This CFP challenge status is only open for Malaysians.

1. Qualifications:
· Professional Accountants (MIA, CPA (M), CPA (Aust.), AICPA, CA, ACCA, CIMA and AIA.)
· Chartered Secretaries (ICSA & Fellow of MACS)
· Chartered Financial Consultants (CHFC)
· Chartered Financial Analysts (CFA)
· Doctorate in Business Administration (DBA)
· PhD (Business, Accounting & Economics)
· Masters (Business Administration/Finance/Economics/Accounting) from accredited universities

2. Members must have 3 years of personal finance related experience which can be in any or all the following areas: Insurance, mutual funds, securities, asset management, accounting, estate planning, banking, taxation, trusts, retirement planning and financial planning. (For definition of relevant financial planning experience, please click here)

3. There will be three (3) consecutive examination attempts only for the challenge status commencing immediately after obtaining approval from FPAM. After the 3 attempts or non-attempts, they must enroll for the normal CFP certification examinations.

How to apply for CFP Challenge Status?

If qualified, you may apply for Challenge Status. Download the appropriate information and form(s) then submit to FPAM or KMDC together with required documents. Instructions on how to apply and the documents required are already stated in the application form:

Click the links below to Download:

Application for CFP Challenge Status Form and

• CFP Challenge Status Application Checklist and
• Sample Work Letter -_Self-employed or
• Sample Work Letter -_Agents(Unit Trusts, Insurance, Will Writing, Remisers) or
• Sample Work Letter -_Employer (Financial Institution, Accounting & Tax Firms, Regulatory bodies..)

go to Top

• IFP Challenge Status

The IFP Challenge status is now open to qualified candidates of the Islamic Financial Planner (IFP) program. Under the IFP Challenge, the approved candidate is only required to sit for IFP Module 6, by completing 40 hours of classroom-based lectures and passing the IFP Module 6 examination.

Candidates having the following professional credentials, academic qualifications and industry experience are eligible to apply for the IFP challenge status:

(i)	CFP, RFP and ChFC holder
(ii)	Master or Doctorate degree holder in Islamic banking and finance
(iii)	Bachelor degree holder in Islamic studies or from Islamic Universities with 5 years minimum working experience in the Islamic financial services industry
(iv)	At least a Bachelor degree holder in any discipline with 15 years minimum working experience in the Islamic financial services industry

A candidate is entitled to a maximum of three (3) consecutive examination attempts only for the IFP Challenge commencing immediately after obtaining approval. After the 3 attempts or non attempts, they must enroll for the normal IFP certification examinations.

A preparatory course before going into the M6 course for approved candidates is required. For more information, please contact FPAM and downlaod the IFP Challenge Status Application Form HERE

go to Top

• Dual Recognition: CFP & RFP:- Exempted for 4 RFP modules

It is possible to seek dual recognition, or pursue CFP and RFP concurrently.

(Please note: this is only applicable for those who are pursuing or have completed CFP program and not vice versa. For RFP holders, there is NO exemption at all if you wish to pursue CFP program. However, for RFP holders who wish to pursue CFP program, KMDC has an incentive scheme, please click HERE.)

For CFP holders or those who are still pursuing CFP program and intend to seek dual recognition of CFP and RFP, here are two options to consider:

Option 1: for those who have completed CFP

1. If you have completed all six CFP modules, it is possible to seek RFP exemption of up to four modules (for example: RFP Module 3 Investment Planning, RFP Module 4 Tax Planning, RFP Module 6 retirement Planning and RFP Module 7: Applications in Financial Planning).

2. Sit for examinations of the remaining RFP modules, say, RFP Module 1 Fundamentals of Financial Planning, RFP Module 2 Risk Management & Insurance Planning and RFP Module 5 Estate Planning.

Note: You are eligible to sit for RFP examinations once you have attended the CFP modules of similar contents.

Option 2: for those who want to pursue CFP & RFP concurrently

Step 1. Study the following CFP modules, then sit for both CFP and RFP examinations. You are eligible to sit for RFP examinations provided you have attend classes for the relevant CFP modules:

CFP Module 1 Foundation of Financial Planning = RFP Module 1 Fundamentals of Financial Planning

CFP Module 2 Risk Management and Insurance Planning = RFP Module 2 Risk Management & Insurance Planning

CFP Module 5 Retirement Planning and Estate Planning = RFP Module 5 Estate Planning

(Please note that for RFP programme, Retirement Planning and Estate Planning are divided into two modules: Module 5 Estate Planning and Module 6 Retirement Planning.)

The entire RFP course comprises of 7 modules:

Module 1: Fundamentals of Financial Planning
Module 2: Risk Management & Insurance Planning
Module 3: Investment Planning
Module 4: Tax Planning
Module 5: Estate Planning
Module 6: Retirement Planning
Module 7: Applications in Financial Planning

Step 2. Seeking Exemptions:

As CFP holders can have up to 4 RFP exemptions, thus you can enroll in the following CFP modules: Module 3 Taxation, Module 4 Investment, Module 5 (Partial) Retirement Planning and Module 6 Financial Plans Construction and Professional Responsibilities. Once you have passed these modules, go and apply for RFP exemptions:

CFP Module 3 Taxation Planning = RFP Module 4 Tax Planning

CFP Module 4 Investment Planning = RFP Module 5 Investment Planning

CFP Module 5 Retirement Planning = RFP Module 6 Retirement Planning

CFP Module 6 Financial Construction and Professional Responsibilities = RFP Module 7 Applications in Financial Planning

Check HERE for more information.

go to Top