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CFPCertified Financial Planner

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| Overview | Requirements | Enrolment | Course Outline | Fees
| Timetable | Benefits | Examination | Results&Awards | FAQs
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Frequently Asked Questions About CFP Programme CFP logo

A. Financial Planning in General

A1. What is Financial Planning?
A2. What is the role of a Financial Planner?
A3. What is the Financial Planning Process?
A4. What are Practice Standards?
A5. What are the 4E’s?
A6. What is it about the CFP Mark that distinguishes it from other financial planning qualifications?

A7. What is the difference between a Certified Financial Planning Practitioner and the other kinds of financial advisors?
A8. What motivates people to pursue CFP Certification? How does this program benefits them?

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B. CFP Programme and Examination

B1. What is the minimum entry requirement needed to take up the CFP Certification Programme?
B2. How many CFP modules do I need to complete and what are they?
B3. Can I study all six CFP modules in one go? Any prerequisite?
B4. Do you have to pass just one module to earn the CFP mark or several modules over a period of time?
B5. Is there a time frame to complete each module?
B6. Is there a time frame to complete all the 6 modules?
B7. What is the shortest time frame to complete all the 6 modules?
B8. If I fail a module, is there a re-sit and what is the time frame for a re-sit?
B9. If I have to re-sit a module, do I pay just the exam fees or the do I need to pay the course fees as well?
B10. Can I do the six modules with a period of rest in between modules?

Exemptions & Challenge Status
B11. Do I entitled to any exemption(s) if I am a graduate/member of a professional body/RFP holders?
B12. How to apply for Modular Exemption or Challenge Status?
B13. How do I know whether my application is successful?
B14. If I were granted Challenge Status, is there a time limit on when I must pass the Module 6 examination?

CFP Examination
B15. When are the CFP examinations held?
B16. What is the format of the examinations for CFP certification?
B17. Where are the examination held?
B18. When is the examination registration closing date?
B19. How much is the Examination Fee?

Issues Related to EPF and HRDF Claims & Tax
B20. Can I withdraw from EPF to pay for CFP education? Or Can my company make HRDF claim if they sponsor my study?
B21. Is CFP fee tax deductible?

Popularity and Benefits of CFP Programme
B22. Is CFP certification programme recognised and popular in Malaysia and other countries/regions?
B23. I am an Accountant. What are the benefits for me if I were to pursue CFP qualification?
B24. What are Continuing Education (CE) requirements that I have to fulfill?

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C. CFP Workshops, Admin Matters & Education Provider - KMDC

C1. How do I register for the CFP Certification programme?
C2. Have the CFP Education Providers, including KMDC, been approved by the relevant authorities?
C3. Is KDU Management Development Centre (KMDC) one of the education providers approved by FPAM to conduct the CFP program?

CFP Course Fee
C4. Do the CFP Education Providers charge the same for the CFP course?
C5. Who entitled to special discounted rate? Do you offer special rate for those working in the financial institutions and students?
C6. How much is the total cost if I were to take CFP programme with KMDC?
C7. What is KMDC's refund policy if I decide to discontinue a module?

Part Time & Full Time Study for Busy Working Professionals
C8. Does KMDC offer any part-time CFP course?
C9. If I want to take up full time study in CFP, would that be possible?
C10. Do you offer evening CFP classes?
C11. Can I study CFP course with KMDC outside the Klang Valley?
C12. Is it compulsory to attend CFP lectures/workshops? Can I just purchase your CFP materials and do my self study?
C13. When do I need to register for CFP course?
C14. Is KMDC CFP Timetable flexible enough to suit my busy lifestyle?

Learning Support for CFP Students
C15. What kind of learning support and materials will be given to me by KMDC?
C16. How does KMDC ensure that I can pass my CFP examination?
C17. What is the duration for each module?

Study Options: the fast lane and the not so rush option
C18. How to complete all six CFP modules in 3 exam sittings, i.e. 18 months?
C19. I do not want to rush to complete my CFP course in 1.5 years, but, if I do one module at a time, it will take 3 years to complete. That is a bit too long for me. What is your recommendation?

Deferment, Repeat/Resits, Sit-in, Refresher Course
C20. Suppose I am unable to cope with the workload and the study load or sit for the exam, can I defer my exam sitting?
C21. I understand KMDC does offer opportunities for CFP learning members to repeat/re-sit/sit-in for CFP sessions for a small fee. Please elaborate.
C22. I have completed CFP course years ago and I would like to update myself - does KMDC offer any refresher course?
C23. I was with other CFP education provider and completed a few CFP modules, and now I have decided to join KMDC, can I?
C24. I failed my CFP module while with other education provider, can I take advantage of your refresher course to repeat the module that I failed?

Issues related to International Recognition, Migration and Working in other Country
C25. I plan to migrate to Australia, is CFP qualification recognised there? Should I complete my CFP here in Malaysia before moving there?
C26. I have to migrate to Australia in 6 months time and I have only completed Modules 1, 2 & 4. I only have time to complete another 2 modules, i.e. Modules 3 & 5. I understand that I am not eligible to sit for Module 6 examination before I have passed Modules 2-5. Please advice.
C27. I will be leaving for Singapore to work, and I have completed only 3 CFP modules, can I continue to study CFP there?

CFP Education Provider - KMDC
C28.
What is KMDC and which is the largest CFP education provider in Malaysia?
C29.May I know KMDC CFP Examination results?
C30.Does KMDC offer any other course/programmes besides CFP?
C31. Where are KMDC CFP business office and learning centres in Malaysia located?

D. FPAM Membership and CFP Licence

D1. What are the different types of FPAM's membership available?
D2. What are the differences between being an Associate Member and a Certified Member
D3. What can a CFP do that an AFP(M) cannot do?
D4. Who are FPAM’s Charter Members?
D5. Can an individual apply to be a FPAM's Charter Member?
D6. What does the Re-certification process entail?
D7. What additional support does FPAM provide to its members?
D8. What is so special about the CFP Mark?
D9. When do I qualified for the CFP Mark?
D10. What do you mean by "relevant Financial Planning work experience"?
D11. Is it true that a CFP licensee can have his license revoked?
D12. I have passed Module 6, how to apply to be fully certified financial planner?

E. Other Financial Planning Programmes (RFP & IFP)

E1. I have passed RFP Module 1 and 2 of Registered Financial Planner (RFP) programme . Will I be able to get any exemption for CFP?
E2. Are CFP and RFP both internationally and locally recognised?

E3. What would be your recommendation: should I do CFP or RFP or both?

Islamic Financial Planning (IFP)
E4. What is Islamic Financial Planner (IFP) Certification Programme? Is it recognised in Malaysia?
E5. Will a CFP holder entitled to any exemption in IFP?
E6. What areas of knowledge do the IFP programme covers?
E7. What are the IFP modules?
E8. What is the difference between the IFP programme and FPAM’s Islamic Financial Planning Course (IFPC)?
E9. Why should unit trust consultants and takaful agents be an IFP?
E10. How long is the IFP programme?
E11. If I start at Module 1 (M1), how much is my investment to be certified as an IFP?
E12. Are fees paid for the IFP programme eligible for tax deduction?
E13. Must I become an FPAM member to take the IFP programme?
E14. Is the IFP programme recognised by Securities Commission and Bank Negara Malaysia?
E15. Do you have to be licensed to be a Financial Planner or Financial Adviser?
E16. Is the IFP programme recognised internationally?

A. Financial Planning in General

A1. What is Financial Planning?

Financial Planning is the process of meeting your life goals through the proper management of your finances. These goals may include buying a home, saving for your child’s education, starting a business or planning for comfortable retirement.

A2. What is the role of a Financial Planner?

A financial planner is someone who uses the financial planning process to draw-up a plan with an objective to meet your life goals. The planner takes a “big picture” view of your financial situation and make financial planning recommendations that are right for you. He takes into consideration all of your needs - budgeting, saving, taxes, investments, insurance and retirement planning. He can also work with you on a single financial issue but within the context of your overall financial situation.

This makes the financial planner different more comprehensive in his approach than other financial advisors who may be trained only on specific areas of your financial needs.

A3. What is the Financial Planning Process?

This Process consists of six steps:

i. Establishing and defining the client-planner relationship
The financial planner should explain clearly or document the services to be provided to you and define both his and your responsibilities. The planner should explain fully how he will be paid and by whom. You and the planner should agree on how long the professional relationship should last and on how decisions will be made.

ii. Gathering client data, including goals
The financial planner should ask for information about your financial situation. You and the planner should mutually define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. The financial planner should gather all the necessary documents before giving you the advice you need.

iii. Analysing and evaluating your financial status
The financial planner should analyse your information to assess your current situation and determine what you must do to meet your goals. Depending on what services you have asked for, this could include analysing your assets, liabilities, cash flow, current insurance coverage, investments and tax strategies.

iv. Developing and presenting financial planning recommendations and/or alternatives
The financial planner should offer financial planning recommendations that address your goals, based on the information you provide. The planner should go through the recommendations with you to help you understand them to help you make informed decisions. The planner should also listen to your concerns and revise the recommendations accordingly.

v. Implementing the financial planning recommendations
You and the planner should agree on how the recommendations will be carried out. The planner may carry out the recommendations or serve as your “coach”, coordinating the whole process with you and your other professionals like your lawyers or stockbrokers.

vi. Monitoring the financial planning recommendations
You and the planner should agree on who will monitor your progress towards your goals. If the planner is in charge of the process, he should report to you on a time basis mutually agreed upon to review your situation and adjust the recommendations, if needed, to complement the changes in your life.

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A4. What are Practice Standards?

Practice Standards were developed to help CFP practitioners better understand and implement the financial planning process. These standards also explain what is expected of a CFP practitioner and are to be adhered to when providing financial planning advice.

Practice Standards describe the process that a financial planner should reasonably be expected to follow during a financial planning meeting. These standards are based on the six-step financial planning process :

  • Establishing and defining the client-planner relationship
  • Gathering client data including goals
  • Analyzing and evaluating the client’s financial status
  • Developing and presenting financial planning recommendations and/or alternatives
  • Implementing the financial planning recommendations
  • Monitoring the financial planning recommendations

A5. What are the 4E’s?

The 4E’s are:

i. Education
Before commencing the certification examinations, a candidate must complete the academic requirements of the CFP syllabus. They are:
Module 1 - Foundation in Financial Planning
Module 2 - Risk Management and Insurance Planning
Module 3 - Tax Planning
Module 4 - Investment Planning
Module 5 - Retirement Planning & Estate Planning
Module 6 - Financial Plan Construction & Professional Responsibilities

ii. Examination
Once a candidate has completed the Education requirement, he can enroll for the Certification Examination. The examination is designed to assess the candidate’s ability to apply the theoretical knowledge he has acquired to financial planning situations in an integrated format, thereby assuring the public that the candidate has acquired the level of competency required for practice.

iii. Experience
In addition to having to complete the financial planning education and examination requirements, a candidate is required to show evidence of having worked in a financial planning-related position for a period of at least three years before or after the successful completion of the Certification Examination.

iv. Ethics
Once a candidate has completed the above 3 E’s and prior to certification, he is required to disclose past or pending litigation or agency proceedings and to acknowledge the right of FPAM to enforce its Code of Ethics and Professional Responsibility.
Only when the candidate has fulfilled his ethics requirement, is he entitled to be a full fledge CFP licensee.

A6. What is it about the CFP Mark that distinguishes it from other financial planning qualifications?

The CFP mark identifies individuals who have met the education, examination, experience and ethics requirements established by the Financial Planning Standards Board Ltd. (FPSB). FPSB owns the CFP Mark outside the United States and licenses qualified individuals to use this mark and refer themselves as “CFP Licensees”. The CFP designation is an internationally recognised mark for the highest level of competence in financial planning.

Financial Planning Association of Malaysia - FPAM, is the marks licensing authority in Malaysia in line with the international standards.

A7. What is the difference between a Certified Financial Planning Practitioner and the other kinds of financial advisors?

A CFP Practitioner follows certain standards - called Practice Standards - when providing financial planning advice. Practice Standards describe the process you should reasonably expect a financial planner to use during a financial planning engagement. These standards are based on the six-step Financial Planning Process, documented by the Financial Planning Standards Board through their research on the “Job Analysis” of what a financial planner is expected to be.

A8. What motivates people to pursue CFP Certification? How does this program benefit them?

7 reasons that motivate people for obtaining CFP Certification according to survey*:

1. Broaden or Deepen Knowledge in Personal Finance, 73.9%
2. Establish Professional Credibility, 74.6%
3. Increase Earning Power, 34.9%
4. Career Advancement or Get Promoted, 34.2%
5. Certify Existing Knowledge in Personal Finance, 39.3%
6. Change Career or Get Established in New Career, 18.4%
7. Employer Required or Strongly Encouraged, 14.3%

Those seeking the CFP designation have tended to be generalists that may specialize in one or more specific areas: estate planning, retirement planning, investment planning, risk management and insurance planning, and tax planning. Those holding the CFP designation have typically found employment with the financial planning firms, insurance companies, banks, unit trusts, and accounting firms.

CFP programme is regarded as better prepared individuals in the following areas: overall financial advisory services to individuals and families, advice on insurance planning, tax planning, retirement planning, estate planning and investment planning. In short, the CFP designation is perceived as a generalist designation that provides the best preparation for comprehensive personal financial planning.

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B. CFP Education and Examination

B1. What is the minimum entry requirement needed to take up the CFP Certification Programme?

To qualify for the CFP Certification Programme, the candidate must be at least a holder of SPM or its equivalent. However, CFP entry requirement from 2014 will be raised to a degree! FPAM has announced that by 2014, the CFP qualification will have a degree requirement. The Financial Planning Standards Board (FPSB) has recently recommended that a degree is now a requirement for Certified Financial Planner (CFP) certification. It however, recognises that this is not always possible immediately and has allowed for a period for gradual conformity. Thus, for those who only have SPM level, please ensure that you sign up for CFP course NOW. Please check HERE for more information.

B2. How many CFP modules do I need to complete and what are they?

There are SIX CFP modules:

Module 1: Foundation in Financial Planning

Module 2: Risk Management and Insurance Planning

Module 3: Taxation Planning

Module 4: Investment Planning

Module 5: Retirement Planning and Estate Planning

Module 6: Financial Plan Construction and Professional Responsibilities

CFP Module 1 provides you an overview of Financial Planning industry and related topics; then Module 2-5 will provide you with in-depth knowledge of various financial planning topics; and the final module, Module 6, you will learn how to construct financial plan and professional responsibilities. Click HERE for the CFP syllabus.

B3. Can I study all six CFP modules in one go? Any prerequisite?

No. It is recommended that you do it in 3 stages:

Stage 1: CFP Module 1 is the prerequisite of Stage 2 (Module 2- 5) and once you passed Module 1 examination, you can move on to Stage 2.

Stage 2: study CFP Module 2, 3, 4 and 5 which are in-depth study in these specific topics: Risk Management and Insurance (Module 2), Taxation (Module 3), Investment (Module 4), Retirement and Estate Planning (Module 5). You can take all 4 modules in one semester and sit for all 4 examinations in the one exam sitting (no worries, the exam timetable are well planned and will not crash with each other); or take one module at a time in any sequence; or do 2 modules or 3 modules at any one time. Once you passed all 4 modules in Stage 2, then you are eligible to move on to Stage 3.

Stage 3: study CFP Module 6. You are expected to have adequate knowledge in risk management and Insurance, taxation, investment, retirement and estate planning; and now you will study how to construct financial plan and learn about professional responsibilities.

B4. Do you have to pass just one module to earn the CFP mark or several modules over a period of time?

You have to pass all the 6 modules in order to become a Certified member. However, exemptions are granted to individuals who have certain academic qualifications. Please check this web page or move on to Question B11 for more information on the grant of exemptions.

B5. Is there a time frame to complete each module?

There is no fixed time frame and the examinations are conducted once every 6 months, usually in June and December.

B6. Is there a time frame to complete all the 6 modules?

There is no fixed time frame. CFP Modules 1 to 5 must be completed before you are eligible to attempt Module 6. A candidate can attempt Modules 2 to 5 in any sequence.

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B7. What is the shortest time frame to complete all the CFP 6 modules?

The shortest time frame required is 18 months, i.e. 3 exam sittings.

B8. If I fail a module, is there a re-sit and what is the time frame for a re-sit?

You will have to re-register for the module that you failed in. You can register for the next available examination sitting. It is better to resume your study as soon as possible when the memory is still fresh.

B9. If I have to re-sit a module, do I pay just the exam fees or the do I need to pay the course fees as well?

If you need to re-sit a module, you are required to register for the next examination and pay the exam fees. KMDC charges a small administrative fee (RM300 to RM350 only in 2013) for re-sit if you wish to attend additional revision classes. Please refer to Question C22 for the explanation.

B10. Can I do the six modules with a period of rest in between modules?
Yes.

Exemptions & Challenge Status

B11. Do I entitled to any exemption(s) if I am a graduate/member of a professional body/RFP holder?

Yes, probably. FPAM has recognized that certain professional qualifications cover some components in financial planning and have decided to waive certain modules for eligible members. You may be granted modular exemption(s); or Challenge Status - skip CFP Module 1 to Module 5 and go straight to Module 6. Please check HERE for more information.

The table below provide a glance of the exemption(s) that may be granted:

Qualification
Module
M1
M2
M3
M4
M5
M6
Registered Financial Planner (RFP)
X
X



 
Chartered Financial Practitioners (Namlifa)
X




 
MII Dip. In Financial Planning
X




 
Chartered Life Underwriters
X
X



 
Life Underwriters Training Council of Fellows
X
X



 
Graduate Diploma in Applied Finance and Investment
X


X

 
Member of Malaysian Institute of Taxation

X


 
Bachelors Degree (Finance / Accounting/ Economics) - must included taxation module

X


 
Professional Accountants (MIA, CPA(M), CPA(Aust), AICPA,
CA, ACCA, ICMA, CIMA, AIA)
X
X
X
X
X
 
Chartered Secretaries (ACIS & FCIS)
X
X
X
X
X
 
Company Secretaries (ICSA/ Fellow of MACS)
X
X
X
X
X
 
Chartered Financial Consultants (ChFC)
X
X
X
X
X
 
Chartered Financial Analysts (CFA)
X
X
X
X
X
 
Doctorate in Business Admin
X
X
X
X
X
 
PhD (Business, Accounting or Economics)
X
X
X
X
X
 
Masters (Business Admin / Finance / Economics / Accounting) from accredited universities
X
X
X
X
X
 
(X - denotes exemption)

B12. How to apply for CFP Modular Exemption or Challenge Status?

If qualified, you may apply for modular exemption or Challenge Status. Download the appropriate information and form(s) then submit to FPAM or via KMDC:

You are required to submit the relevant forms and documents to FPAM, accompanied by an Application for Trade Member Form together with payment (if you are not already a member), as FPAM will only grant approval to its members.

All certificates and academic transcripts must be certified. Working experience from present employer must be written using the employer's letterhead. If you are seeking for exemptions for Module 1 or Challenge Status, you must apply at least one month before the registration for any examination and not together with the examination registration form. Please check HERE form more information.

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B13. How do I know whether my application is successful?

Upon approval, FPAM will allocate you a reference number to quote when you subsequently register for the examination. If your application is disapproved, FPAM will return you the whole set of documents.

B14. If I were granted Challenge Status, is there a time limit on when I must pass the Module 6 examination?

CFP Challenge Status candidates are given 3 exam sittings to complete their Module 6 exam. Failing which they are required to enroll for the full CFP Certification Programme.

CFP Examination

B15. When are the CFP examinations held?

The examinations are held twice a year, usually in mid June and mid December. Please check KMDC web page HERE for the dates and venues of the examinations.

B16. What is the format of the examinations for CFP certification?

CFP Module 1 to 5 consists of 60 multiple choice questions each to be completed in 2 hours.
Module 6 comprises of 2 papers. Paper 1 is a 60 multiple choice questions paper to be completed in 3 hours and Paper 2 is an essay styled case study question paper to be completed in 3 hours. Both the papers would be conducted on the same day.

B17. Where are the CFP examination held?

Location Exam Centre
Kuala Lumpur/Klang Valley Universiti Malaya (Dewan Peperiksaan)
Penang Universiti Sains Malaysia (Dewan Peperiksaan A & B)
Johor Baru Universiti Teknologi Malaysia (Dewan Peperiksaan P16)
Kuching Universiti Malaysia Sarawak
Kota Kinabalu Universiti Malaysia Sabah

Check KMDC web page HERE for more information about CFP examination held in Malaysia.

B18. When is the CFP examination registration closing date?

There are two exam sitting per year; in mid June and mid December. The closing date for examination registration is usually about 8 weeks from the examination date. Check FPAM web site for more information.

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B19. How much is the CFP Examination Fee?

That depends on whether you are attached to FPAM's Charter member or Corporate member or none. Charter and corporate member are corporations that support FPAM in the development of the financial industry.

FPAM's CFP Examination Fee:
Staff of FPAM's Charter member RM200 per exam sitting
Staff of FPAM's Corporate member RM250 per exam sitting
Individual RM300 per exam sitting

To check if your employer is the Charter or Corporate member of FPAM, Click HERE.


Issues Related to EPF and HRDF Claims & Tax

B20. Can I withdraw from EPF to pay for CFP education? Or Can my company make HRDF claim if they sponsor my study?

Yes. Your CFP tuition fee and examination fee are now eligible for EPF withdrawal, provided you are a member of EPF and at least a diploma holder. For more information about EPF withdrawal scheme, please visit EPF's web site:Click HERE

For detail instruction on how to withdraw EPF for your CFP education, CLICK HERE

As for HRDF, if your company contributes to HRDF (Human Resource Development Fund), and sponsor your CFP study, then the company is eligible to make HRDF claim.

Click here for more information about HRDF Claim

B21. Is CFP fee tax deductible?

No at the moment, only membership fees are eligible for claiming tax deduction.


Popularity and Benefits of CFP Programme

B22. Is CFP certification programme recognised and popular in Malaysia and other countries/regions?

Yes, besides Malaysia, CFP is widely recognized many countries: USA, Canada, Japan, Australia, Hong Kong, China, Taiwan, Indonesia, India, Singapore, United Kingdom, New Zealand, Germany, France, South Korea, Brazil, Austria, South Africa, Switzerland, Thailand, Ireland and Netherlands. (Check this site)

As of end of 2012, there are 147, 822 CFP certified practitioners worldwide and the number is growing. In Malaysia, CFP certification programme has becoming more and more popular. The Financial Planning Association of Malaysia (FPAM) currently has 2657 certified practitioners.

Majority of Malaysia's CFP holders are mainly from financial industry: about 65% of them are attached to banks, unit trust, insurance, financial advisory and stock broking companies, with another 18% are accountants. About 16% of CFP holders in Malaysia are from non financial corporations.

B23. I am an Accountant. What are the benefits for me if I were to pursue CFP qualification?

The CFP qualification is very popular with accountants in Malaysia. In fact 16% of total CFP members are accountants (661 members). This is the largest among all professions. Members of professional accounting bodies like MIA, CIMA, ACCA, ASCPA, AIA are exempted from the first 5 modules of the certification exams. They only have to sit for Module 6, the last paper.

Accountants normally do well for the paper as their background in accounting & finance gives them the analytical skill that is so vital for the exams. Their background also enables them to grasp the concepts easily.

The benefits of the CFP programme for accountants are:
  • Financial planning is an added value service that they can provide to their clients. Most of them already provide accounting, tax or audit services to their clients. Financial Planning would be an extra service that they can provide.
  • They already have an existing client base to tap on should they want to expand their business. These clients already have a rapport and business relationship with them and the trust is already there. Unlike others who need to build a client base, accountants already have an existing one.
  • The CFP qualification is recognized worldwide. Accounting is one of the professions most in demand worldwide and accountants are very mobile. Having a globally recognized qualification gives them an added advantage.
  • Accountants provide many value added services. Financial planning is one of them and it is one of the fastest growing professions worldwide.
  • The CFP qualification is also a qualification to enter the financial services sector for those who wish to switch profession. For those who wish to enhance their career and climb the corporate ladder, the CFP is one of the most recognized qualifications. Most of the financial institutions in Malaysia are Charter members of FPAM and send their employees to undergo the CFP course.

B24. What are Continuing Education (CE) requirements that I have to fulfill?

Certified members must complete 30 hours of Continuing Education (CE) every two years in order to renew their CFP licence. It is mandatory that certified members must devote 2 CE hours to update himself/herself on the Code of Ethics and Professional Responsibility.

Associate members must complete 20 hours of CE every two years.

Excess credits acquired in one reporting period cannot be carried over to another reporting period.

Continuing Education Audit

Random audits will be conducted to ensure that Certified and Associate members fulfill their continuing education requirement.

Members selected for the CE audits will be required to complete the CE report and submit proof of CE activities participation.

Certified and Associates members are therefore required to keep supporting documentation in the event they are audited or to show proof of attendance.

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C. CFP Admin Matters, Workshops & Education Provider - KMDC

C1. How do I register for the CFP Certification programme?

You may download forms from this web page - just scroll down to the bottom of the page and click on the links provided there; or check this web page for detail instructions; or email KMDC: start@kmdc.com.my; or call us: 012-3989030 (weekends), 03-7953 6969 (during office hours).

For registration of CFP course with KMDC, follow these simple steps:

1. Applicants can download KMDC Application Form HERE and submit it to us together with your other documents (e.g. certified transcripts, business card or company's letter).

2. Candidates enrolling for the CFP programme (Module 1, Challenge Status and all first timers) must be FPAM's Trade members. The Trade member fee is RM50 per annum. Do download FPAM Trade Member Application Form HERE

3. For your convenience sake, you may fax to us your forms and documents to 03-7953 6966. For payments, just fill up the authorise column on KMDC Application Form and FPAM Trade Member Application Form to authorise KMDC to charge your tuition fee and FPAM to charge your membership fee respectively.

For detail information on how to enrol and make payments for CFP course, please click HERE.

C2. Have the CFP Education Providers, including KMDC, been approved by the relevant authorities?

The provision of education is undertaken by suitably qualified Education Providers duly approved by FPAM. Approval is granted by FPAM subject to the Education Providers having fulfilled certain requirements such as:

i. Having an established track record in the field of education
ii. Capable of teaching the CFP certification program
iii. Employment of professional academic and support staff to ensure comprehensiveness of programs
iv. Adherence to all of FPAM’s rules and regulations

C3. Is KDU Management Development Centre (KMDC) one of the education providers approved by FPAM to conduct the CFP program?

Yes. In fact, we are now the leading CFP education provider in Malaysia with highest market share and we are always the top performer in CFP examination.

CFP Course Fee

C4. Do the CFP Education Providers charge the same for the CFP course?

The approach of the independent Education Providers in providing the CFP course may differ slightly, depending on their methodology and course materials but in compliance with the syllabus determined by FPAM. The fees for the courses are set by the Education Providers within the range approved by FPAM.

Below is the FPAM's recommended CFP course fees:

Module 1 & Module 6: RM1650 per module

Modules 2 - 5: RM1100 per module

For KMDC CFP Fee, please read Question C6 below or click HERE.

C5. Who entitled to special discounted rate? Do you offer special rate for those working in the financial institutions and students?

Yes, KMDC offers corporate rate for all staff that attached to any financial institutions, e.g. banks, unit trust, insurance, financial advisory and stock broking companies, financial service providers and full time students (including fresh graduates). They will enjoy a saving of RM200 - RM350 per module. Do read Question C6 below.

C6. How much is the total cost if I were to take CFP programme with KMDC?

KMDC CFP Course Fee

Module
Standard Fee (2013)
KMDC Corporate Rate (2013)*
Module 1
1650
1480
Module 2
1100
1080
Module 3
1100
1080
Module 4
1100
1080
Module 5
1100
1080
Module 6
1650
1580
KMDC Application Fee
300
200
Total Tuition Fee**
8000
7380
Exam Fee
Add RM200 or RM250 or RM300 per exam sitting. For those who are attached to Charter member of FPAM, pay only RM200 per exam sitting; and those attached to the corporate member of FPAM, pay only RM250. Otherwise, pay RM300 per exam sitting. To check information on FPAM membership - Charter Member and Corporate Member, click HERE.
FPAM Membership Fee
FPAM Trade Membership (Module 1 & Challenge Status): RM50 per annum; FPAM Associate membership (Module 2-6): RM150 per annum. You need to be a member of FPAM to be eligible to sit for FPAM CFP examination.

* Those entitled to KMDC Corporate Fee included all staff from ANY financial institutions, such as banks, unit trust, insurance, financial advisory and stock broking companies, financial service providers and full time students including fresh graduates.

**Note: the Tuition fee mentioned above excluded FPAM examination fee, FPAM membership fee and KMDC application fee.

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C7. What is KMDC's refund policy if I decide to discontinue a module?

KMDC's policies on Refund of Fees:
1. All fees which have been paid are NOT refundable unless the course does not commence at KMDC, or the candidate’s application is not accepted.
2. If the candidate withdraws from the course in writing within 14 working days from the commencement date of each course, a 50% of course fee will be refunded less administrative charges, after which no refund will be given.
3. All withdrawals are subject to an administrative charge of RM200. Candidates are advised to contact KMDC staff from the Programmes Department in writing as soon as the situation for withdrawal arises, stating reason for withdrawal. Proof may be required.

Part Time & Full Time Study for Busy Working Professionals

C8. Does KMDC offer any part-time CFP course?

KMDC offers CFP programme as part-time course only. That is, most CFP classes are conducted during weekends. Only a few classes are offered during weekdays when a minimum number of participants are met.

C9. If I want to take up full time study in CFP, would that be possible?

Possible. Just enrolled in several CFP modules in one semester. If you enrolled in 3-4 CFP modules in a semester, your study load is equivalent to full time study in colleges or universities. However, as mentioned earlier, most CFP classes are conducted on weekends.

C10. Do you offer evening CFP classes?

Currently, KMDC does not offer any evening class in KL or PJ. We do not recommend evening class as the traffic situation in the city will most likely makes you late for class; furthermore, most people find it tough to pay attention in class after a hectic day of work.

C11. Can I study CFP course with KMDC outside the Klang Valley?

Yes, we have coordinators in a few major cities towns and cities across Malaysia and we do offer outstation classes on demand.

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C12. Is it compulsory to attend CFP lectures/workshops? Can I just purchase your CFP materials and do my self study?

In compliance with the FPAM requirements of 40 contact hours, KMDC provide at least 48 and up to 63 hours of face-to-face lectures/workshops/and revision sessions.

C13. When do I need to register for CFP course?

There are two semesters per year. For first semester, CFP classes commence from February after Chinese New Year and end in early June just before the June Examination. For the second semester, CFP classes start in July till early December. December examination will usually be held in mid December. Please check KMDC CFP Timetable and register for your desired CFP class(es) at least one week before the commencement date stated in the KMDC CFP timetable.

C14. Is KMDC CFP Timetable flexible enough to suit my busy lifestyle?

KMDC's delivery strategy allows FLEXIBILITY to you in view of your hectic working schedules. We offer Saturday, Sunday and weekday sessions. For each module, there will be 3 to 8 intakes per semester. Some intakes will commence early while some will commence in the middle of the semester, and the last intakes will start just about 2 months before the examination. Thus, you do have many choices.

However we recommend that you enroll and start early in order to accommodate the demands of your personal and professional lives. In addition, you can now sit for a few modules simultaneously and is still able to manage each module comfortably following the recommended study schedule.

Learning Support for CFP Students

C15. What kind of learning support and materials will be given to me by KMDC?

KMDC offers 6 full day face-to-face CFP workshops including revision seminar for each module with contact hours up to 54 hours (more for Module 6). Besides that, we provide free training and special workshop on Financial Calculator and Time Value of Money. For study materials, we provide you KMDC CFP manuals, lecture notes, sample exam papers and online materials. KMDC also organizes financial planning seminars regularly for our CFP learning community and the public. Besides that, KMDC provides online Financial Planning software, PlanPlus from Canada for every CFP students enrolled with us.

C16. How does KMDC ensure that I can pass my CFP examination?

KMDC provides you with extra hours of face-to-face workshops - from 2009 onwards, up to 54 hours for CFP Module 1-5, and up to 63 hours for Module 6 - compare with FPAM's requirement of 40 contact hours, we offer 14 - 23 contact hours more. We provide normal lectures/workshops, mock exam and revision seminars, extra free training sessions on financial calculator and time value of money, and online financial planning software, PlanPlus. Each CFP learning members will also be given a few sets of sample exam papers in advance. Our CFP timetable is so flexible that you have many choices - and able to repeat all the sessions for a small fee or replace the session(s) that you missed for free. Read Question C19 for details.

The best of all -- we have a strong team of highly qualified facilitators who are industry practitioners and well liked by our CFP learning community. To check the profiles of our CFP facilitators, click HERE.

KMDC has built up its reputation as CFP education provider that provides high quality education with value-added service. Our CFP examination results also speaks for itself - we are always the top performer with highest pass rate. Do check HERE for KMDC past CFP examination results and awards.

C17. What is the duration for each CFP module?

Based on a 17-week semester with the common expectation that you would spend between seven to ten hours per week studying and preparing for your CFP course. You may take a longer or shorter period to complete each module.

For example, your CFP Module 2 class commences in late February, and there are 6 full day sessions to attend. Thus, you will likely to complete the module in 6 - 12 weeks depending on the CFP Schedule.

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Study Options provided by KMDC

C18. How to complete all six CFP modules in 3 exam sittings, i.e. 18 months?

There are two options:

Option 1: Sit for CFP Module 1 in your first exam sitting; then sit for Module 2, 3, 4 and 5 in your second exam sitting and last, provided you passed all the examinations, take on Module 6 in your 3rd exam sitting. However, most working professionals find the study load is too much for them to bear if they were to study and sit for examination for 4 modules in one exam sitting. We do not recommend this option.

Option 2: This is a better option for most people and we strongly recommend it. Here is how:- while you have enrolled for your CFP Module 1, do enrol and sit in for another 2 more modules, say, Module 2 & 4 classes. Just register for Module 1 examination for your first exam sitting as you will not be allowed to sit for any other modules' examination before you passed CFP Module 1.

Then, on the following semester, enrolled for another 2 modules, say, Module 3 & 5; and repeat Module 2 & 4 - take them as refresher course (to take any modules that you had taken and paid for earlier, you only have to pay a small administrative fee to KMDC this time). Sit for all 4 modules, i.e. Module 2, 3, 4 and 5 in your second exam sitting. Provided you passed all the modules, you can do Module 6 in your 3rd exam sitting. Read Question C22 for more information.

Remember: do enroll early as early birds do get to enjoy a lot more privileges.

C19. I do not want to rush to complete my CFP course in 1.5 years, but, if I do one module at a time, it will take 3 years to complete. That is a bit too long for me. What is your recommendation?

We recommend that you study CFP Module 1 in your first exam sitting, then take on CFP Module 2 & 4 in your second exam sitting, and Module 3 & 5 in your 3rd exam sitting and finally, Module 6 in your fourth exam sitting. Thus, you will be able to complete all six CFP modules in 2 years.

Taking CFP Module 2 & 4 before Module 3 & 5 has its advantages: as you will learn more about insurance (Module 2) and investment (Module 4) before moving on to retirement and estate planning in Module 5. As for Module 3 - taxation laws changes every year, it is best to leave it to a latter stage.

Deferment, Repeat/Resits, Sit-in

C20. Suppose I am unable to cope with the workload and the study load or sit for the CFP exam, can I defer my exam sitting?

Yes, you can just attend the classes and need not register for the coming examination but enroll for the next exam sitting instead. Please do inform us your intention in wiring.

C21. I understand KMDC does offer opportunities for CFP learning members to repeat/re-sit/sit-in for CFP sessions for a small fee. Please elaborate.

Yes, we do offer opportunities for our CFP learning members to repeat or re-sit or sit in for their CFP sessions.

Repeat - KMDC CFP learning members who signed up for the early intake of CFP session, for example, Mr. Tan enrolled for Module 4 early intake which starts in February. He will complete his Module 4 in late March, and wants to repeat Module 4 with another facilitator in the coming April intake. As long as the seats are available (some CFP classes do fill up fast), he can do so by enrolling himself into this April intake of Module 4 and pay a small administrative fee to KMDC. In this way, he learns more and better prepared for the coming examination.

Another example, Cik Norila enrolled for Module 1 and will sit for CFP Module 1 examination in June; at the same time, she enrolled and paid for Module 2 and Module 4 tuition fee as well - her intention is to only attend the CFP Module 2 & 4 workshops and will only sit for the exams of these two modules next round in December. She can repeat Module 2 & 4 in the coming semester and this time, she only requires to pay a small administrative fee for each module in order to attend the workshop for the second time. As for the exam fee, She of course has to pay her exam fees to FPAM.

Re-sit - Normally refers to learning members that failed his or her CFP examination previously and want to re-sit for the same module in the next semester. A small administrative fee applies - this is to cover the costs of refreshments and lecture notes.

The 2013 administrative fee for Resits and Repeat mentioned above varies, it depends on which option you choose. Option 1: RM300 only for 6 day of classes inclusive of lecture notes, sample exam papers and refreshments. Option 2: RM350 only for 7 day of classes which included 1-Day exam revision seminar, lecture notes, sample exam papers and refreshments. CFP course manual is excluded as the learning members should already been given one copy of course manual the first time he or she enrolled for that particular CFP module previously.

Sit-in - Normally refers to CFP Challenge Status candidates and those who were granted with modular exemption; they just want to sit-in to gain more knowledge on the module(s) that they were exempted. Since they do not have to sit for the examination, thus they only need to pay a lower tuition fee. Option 1: Pay only RM700 per module for 7 days of classes inclusive of revision seminar, lecture notes, sample exam papers, course manual and refreshments. Option 2: Pay only RM250 for course manual, lecture notes, sample exam papers, 1-day exam revision seminar,excluding 6 days of normal sessions.

Refresher Course - for KMDC CFP alumni who have completed his/her CFP course and fully certified, and yet they want to come back for refresher course. They only need to pay RM300 for 6 day of normal sessions inclusive of course manual, lecture notes and refreshments. For non KMDC alumni, the fee for refresher course is RM600 per module.

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C22. I have completed CFP course years ago and I would like to update myself - does KMDC offer any refresher course?

Yes, we do. If you are a CFP holder and KMDC alumnus, and wish to do a refresher course (any CFP modules), you can enrol with us - each module will cost only a fraction of the full tuition fee, i.e. at RM300 per module for 6-day workshop. For non KMDC alumni, the fee for refresher course is RM600 per module.

C23. I was with other CFP education provider and completed a few CFP modules, and now I have decided to join KMDC, can I?

Of course, you are welcome to join KMDC CFP courses. Talk to our staff to see if you are entitled to any special offers.

C24. I failed my CFP module while with other education provider, can I take advantage of your refresher course to repeat the module that I failed?

Yes, you can repeat the failed module with us provided you signed up and make payment for at least one new CFP module with us.

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Issues related to International Recognition, Migration and Working in other Country

C25migrate to Australia, is CFP qualification recognised there? Should I complete my CFP course here in Malaysia before moving there?

Yes, CFP is recognised in Australia. It is advisable that you complete your CFP course here in Malaysia first then complete a top exam in Australia. Also do check with the Australian authority (www.fpa.asn.au) from time to time for latest updates on the conversion process. In Australia, the minimum entry requirement for CFP is a bachelor degree.

C26. I have to migrate to Australia in 6 months time and I have only completed CFP Modules 1, 2 & 4. I only have time to complete another 2 modules, i.e. Modules 3 & 5. I understand that I am not eligible to sit for Module 6 examination before I have passed Modules 2-5. Please advice.

Sign up and attend all remaining modules, i.e. Modules 3, 5 and 6. Sit for Modules 3 & 5 examination in the here in Malaysia - you still have time to do that. Then, when you go over to Australia, do your own revision and prepare for Module 6 examination. Provided you have passed Modules 3 & 5, register and come back to Malaysia for Module 6 examination.

C27. I will be leaving for Singapore to work, and I have completed only 3 CFP modules, can I continue to study CFP there?

It is better to complete your CFP course in Malaysia. If you have done 3 CFP modules here and want to continue it in other country like Singapore, you will be required to start all over again. However, if you have completed your CFP course here in Malaysia, you will then do a conversion examination there in Singapore. Perhaps, you should consider signing up for our KL/PJ weekend CFP classes and come back to attend classes and examination in Malaysia.

Please check with the Singapore authority (www.fpas.org.sg) for latest updates on the conversion process.

CFP Education Provider - KMDC

C28. What is KMDC and which is the largest Financial Planning education provider in Malaysia?

KDU Management Development Centre Sdn. Bhd. - KMDC, is an education provider and training provider for working professionals and corporate in Malaysia. It is a subsidiary of PAramount Corporation and sister company of KDU University College and Sri KDU Smart School. KMDC has since 2003, providing CFP Certification course to the public. Though we are not the pioneer and in fact a late comer in CFP education, we manage to achieve the Number 1 Market Leader position since 2008. KMDC's market share is still on the rise. In Klang Valley and Penang, we have over 75% market share (2012 June) and in whole Malaysia, 55%. This information is based on the statistics provided by FPAM as of June 2012.

C29. May I know KMDC CFP Examination results?

Yes, we are very transparent about our examination results. KMDC is also proud to announce that we constantly achieve high pass rate for CFP examination. For a consecutive of 10 examinations in the past 5 years, KMDC has achieved an average of 84% pass rate. We are also the top award winner - in 2011, out of 13 FPAM CFP Award, KMDC wins 12.

For more information on CFP examination results and awards, please click the link below:
http://www.kmdc.com.my/html/programmes/CFP_Results&Awards.html

C30. Does KMDC offer any other courses/programmes besides CFP ?

Yes, we do. We offer a series of management development programmes, executive seminars and workshop, in-house training and other certification courses, such as Project Management. Do visit the sites below for more information:

KMDC Programme Main Page: http://www.kmdc.com.my/html/programmes/programmes_main.html

KMDC Programme Calendar: http://www.kmdc.com.my/html/programmes/prog_calendarMonth.htm

KMDC Programme Portfolio /In-House Training/Custom Programme: http://www.kmdc.com.my/html/programmes/programmes_portforlio_Custorm&InHouse.html

C32. Where are KMDC Business Office and learning centres in Malaysia located?

Business Office (for enquiry and application only):

KDU Management Development Centre
Block A, KDU University College Section 13 Campus,
No. 76, Jalan Universiti (next ot Sin Chew Jit Poh
46200 Petaling Jaya, Selangor, Malaysia. <Location Map>
Tel: +603-7953 6969, 7953 6968; Mobile: +6012-3989030   Fax: +603-7953 6966
Business Hours: Monday - Friday 9:00am - 6:00pm
Email: start@kmdc.com.my Web site: www.kmdc.com.my

KMDC CFP Petaling Jaya Learning Centres:

KDU University College Damansara Jaya Campus
Level 1 (Room 104-109), SS22/41, Damansara Jaya
47400 Petaling Jaya
Selangor Darul Ehsan <Location Map>
Tel: 03-7953 6969, 012- 398 9030 Fax: 03-7963 6966 Email: start@kmdc.com.my
(For all enquiries and applications, please contact our business office at KDU Section 13 Campus

KDU University College Section 13 Campus (Next to Sin Chew Jit Poh)
Block A, KDU Section 13 Campus,
76, Jalan Universiti,
46200 Petaling Jaya, Selangor Darul Ehsan, MALAYSIA. <Location Map>
Tel: 03- 7953 6969, 7953 6968, 012- 398 9030 Fax: 03-7953 6966
Email: start@kmdc.com.my
(For all enquiries and applications, please contact our business office at KDU Section 13 Campus)

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D. FPAM's Membership and CFP Licence

D1. What are the different types of FPAM's membership available?

FPAM membership consists of individuals and companies who practice or support the financial planning profession respectively. As a professional association, FPAM requires its members to abide by a Code of Ethics and Professional Standards. 

To protect the consumer and thereby instilling public confidence in its certified licencees, FPAM will investigate formal complaints through a Review and Disciplinary System. 

There are five categories of members:

1. Charter Member

This category of members are corporations that support the development of the financial planning industry. 

2. Corporate Member

Invited corporations with interest in financial planning.

3. Certified Member

Certified Members CFP are individuals who have earned the CFP certification. The have passed the certification examinations after completing the CFP Course provided by approved Education Providers. 

They have also acquired three years’ relevant experience and agreed to abide by the Professional Standards and Code of Ethics. 

The CFP qualification is an internationally recognised mark and symbolises the highest level of professionalism in financial planning.

4. Associate Member

Associate members are individuals who have earned the AFPM certification. They have shown technical competency by completing the AFPM course provided by approved Education Providers. They also need to abide by the Professional Standards and Code of Ethics. 

5. Trade Member

Trade members are individuals who undertake to pursue the CFP and AFPM courses provided by approved Education Providers.

D2. What are the differences between being an Associate Member and a Certified Member

An Associate member is someone who has completed the Foundation In Financial Planning module (CFP Module 1) and registered as an Associate member of FPAM. He or she understands the 6-step financial planning process and is able to explain the process to clients and provide clients with only segmented plans but would not be competent enough to write a comprehensive financial plan. He or she agrees to abide by the FPAM Code of Ethics and Professional Responsibilities.

A Certified member is someone who has completed the CFP certification course and after meeting the 4E requirements of certification (Education, Examination, Experience and Ethics) is awarded the CFP Mark, the highest standard in financial planning. A Certified member is able to take the clients through the 6- step process of financial planning and write and execute a comprehensive financial plans for his or her clients as well as monitor the status / progress of the implementation of the clients’ plans. He or she would have at least 3 years of relevant experience and agree to abide by the FPAM Code of Ethics and Professional Responsibilities.

D3. What can a CFP do that an AFP(M) cannot do?

An AFPM licensee is one who is trained and is competent to recommend the full range of financial products to match the needs of his clients. He/she understands the financial planning process. He/she is able to explain the process to clients and provide clients with only segmented plans but would not be competent enough to write comprehensive financial plans.

A CFP licensee would be able to do all that an AFPM licensee can do plus write and execute comprehensive financial plans for his/her clients, as well as monitor the status of the clients' plans.

D4. Who are FPAM’s Charter Members?

FPAM's Charter Members are corporate members of FPAM who contribute and support the development of the financial planning industry in Malaysia.

If you are employed by any of FPAM's Charter Members, you are entitled to the Charter Member’s employees’ rate for examination registration fees. Click on the link here to check for the Charter members of FPAM: http://www.kmdc.com.my/html/programmes/cfp_links.html

D5. Can an individual apply to be a FPAM's Charter Member?

No. Only institutions can apply to be Charter members

D6. What does the Re-certification process entail?

Once certified, a CFP practitioner is required to maintain technical competence and fulfill ethical obligations. Every two years, he must complete a minimum of 30 hours of continuing education to keep abreast of current developments in the financial planning profession in order to better serve his clients. Two of the 30 hours are to be spent studying or discussing FPAM’s Professional Code of Ethics and Practice Standards.

In addition to the biennial continuing education requirement, every CFP practitioner must also voluntarily disclose any public, civil, criminal or disciplinary actions that may have been taken against him in the past two years as part of the continuing Re-certification process.

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D7. What additional support does FPAM provide to its members?

FPAM has a comprehensive web site which students can access for updated information on the latest developments in financial planning. There are also links to the web sites of other financial planning bodies worldwide.

There is also a mini library at FPAM’s premises with reference materials and books on financial planning for use by its members.

D8. What is so special about the CFP Mark?

The CFP mark identifies individuals who have met education, examination, experience and ethics requirements established by the Certified Financial Planner Board of Standards, Inc., (CFP Board) of Denver, Colorado. The CFP Board owns the CFP Certificate and licenses qualified individuals to use this mark and refer themselves as "CFP Licensees". The CFP designation is an internationally recognised mark for the highest level of competence in financial planning.

FPAM has been awarded the licence to conduct courses in Malaysia in line with these international standards.

D9.. When do I qualified for the CFP Mark?

You will earn your CFP Certificate once you have completed and pass all six (6) modules with 3 years of relevant Financial Planning work experience.

D10. What do you mean by "relevant Financial Planning work experience"?

Relevant financial planning work experience can be obtained from the following 3 work areas:
(i) Working in the financial services industry
(ii) Self employed, sole proprietors, partners or directors in industries relating to financial planning or financial services
(iii) Insurance/unit trust/will writing/trusts agents and remisers

For detail information about relevant financial planning work experience, click HERE.

D11. Is it true that a CFP licensee can have his license revoked?

Yes.

D12. I have passed Module 6, how to apply to be fully certified financial planner?

Having passed CFP Module 6 does not automatically elevate you to fully certified financial planner. You will have to apply and these are the procedures:

  • Option 1: Submit proof (document) that you have at least 3 years of relevant working experience outlining details from your present/past employer (in company’s letterhead) over the immediate 3 years from the date of the application including employer details, (name of company, telephone number, person to contact) positions held and primary duties. OR
  • Option 2: Complete the CFP Application Working Experience Summary Form certified by your employer with Company’s stamp ( Name, Designation and contact number)
  • Complete FPAM's Certified Member Application Form and enclose together with payment of RM400 payable to “Financial Planning Association of Malaysia”

For Challenge Stastus candidates:

  • Complete the Certified Application Form and enclose together with payment of RM400 payable to “Financial Planning Association of Malaysia”
  • Certified working experience letter will not be required (this had been given to FPAM earlier when you applied for Challenge Status)

Certified acceptance Letter and Certificate will be sending to your correspondence address via registered mail in ONE month from the date of the application.

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E. CFP and Other Financial Planning Programmes (RFP and IFP)

E1. I have passed RFP Module 1 & 2 of Registered Financial Planner (RFP) programme. Will I be able to get any exemption for CFP?

Yes, if you haved passed the Module 1 & Module 2 of RFP programme and provided that you are a degree holder, you will be eligible to apply for partila exemption, i.e. to be exempted from CFP Module 1 & 2. Application for modular exemption for Module 1 and Module 2 would need to be supported by result slips as proof of completion of the 2 modules. Certificates of attendance would not be accepted for modular exemption application. 

E2. Are CFP and RFP both internationally and locally recognised?

CFP is globally recognised. Both CFP and RFP are locally recognised by Bank Negara Malaysia and Securities Commission.

E3. What would be your recommendation: should I do CFP or RFP or both?

As we have highlighted earlier, CFP is both internationally and locally recognised. However, the choice is yours to make.

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

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 (any 4 modules between RFP Module 1 - Module 6).

2. Sit for examinations of the remaining 3 RFP modules including Module 7. There is no need to attend RFP classes of these 3 modules.

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

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

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

Here is a suggestion:

As CFP holders can have up to 4 RFP exemptions, thus you can enroll in the following CFP modules: Module 1 Foundation in Financial Planning, Module 3 Taxation, Module 4 Investment, Module 5 Retirement & Estate Planning. Once you have passed these modules, go and apply for RFP exemptions:

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

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

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. Below is an example:

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

CFP Module 6 Financial Plan COnstruction and Professional Responsibilities = Module 7: Applications in Financial 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.

Islamic Financial Planning Certification Programme

E4. What is Islamic Financial Planner (IFP) Certification Programme? Is it recognised in Malaysia?

The Islamic Financial Planner (IFP) is a training and certification programme designed especially for professionals and executives serving the retail segment of the Islamic financial market. This programme is a joint collaboration between Islamic Banking and Finance Institute Malaysia (IBFIM) and the Financial Planning Association of Malaysia (FPAM).

Islamic Financial Planner (IFP) qualification has been recognised by Bank Negara Malaysia (BNM) for the purpose of becoming a Financial Adviser’s representative. The business of financial advisory in respect of insurance products is a regulated activity under the purview of BNM. IFP qualification has also been recognised by Securities Commission for the purpose of applying for a Capital Markets Services Representative’s License (CMSRL) to carry out the regulated activity of financial planning.

Click here to download IFP brochure.

E5. Will a CFP holder entitled to any exemption in IFP?

Yes, the IFP Challenge has been introduced.  Candidates qualified for the IFP Challenge status will need to attend classes and pass the Module 6 (M6) examination.

Click here to download IFP FAQ

E6. What areas of knowledge do the IFP programme covers?

The IFP programme covers the major components of financial planning with the Islamic aspects being comprehensively integrated into each of the IFP modules.

E7. What are the IFP modules?

The six modules of the IFP programme covering the Islamic financial planning components are:

Module

ISLAMIC FINANCIAL PLANNER (IFP)

M1

Fundamentals of Islamic Financial Planning

M2

Risk Management and Takaful Planning

M3

Islamic Investment Planning

M4

Zakat and Tax Planning

M5

Islamic Estate and Waqf Planning

M6

Financial Plan Construction and Professional Responsibilities

E8. What is the difference between the IFP programme and FPAM’s Islamic Financial Planning Course (IFPC)?

Being a six-module training programme, whereby candidates undergo more than 40 hours of training for each module, the IFP programme coverage is more extensive and has more depth in comparison to the IFPC. The IFPC (also known as Practice Module 1) was designed as an add-on to the CFP programme and is part of FPAM continuing education (CE) courses.  IFPC is a continu
   
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Select one or more mail lists to subscribe to:

CFP & Personal Financial Planning Course
Finance/Accounting/CFA Course
In-House or Public Management Training Programme
Project Management Programme
Sales, Social Media & Marketing Programme

Email address

KMDC CFP Facebook
Personal Finance FB Page

KMDC Executive Learning
Executive Education FB Group

KMDC Project Management
Project Management FB Group

Yes, financial planning is a regulated industry. The SC and BNM require a professional to be licensed as a financial planner and financial adviser respectively.

E16. Is the IFP programme recognised internationally?

IBFIM and FPAM have every intention to promote the IFP programme internationally.

Click here to download IFP FAQ

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Subscription Button
Select one or more mail lists to subscribe to:

CFP & Personal Financial Planning Course
Finance/Accounting/CFA Course
In-House or Public Management Training Programme
Project Management Programme
Sales, Social Media & Marketing Programme

Email address
KMDC CFP Facebook
KMDC Executive Learning
KMDC Project Management

ESSENTIAL INFORMATION (Application and Payment) (requires Acrobat Reader)

+ Download KMDC CFP Application Form 2014 HERE
+ Download NEW: KMDC CFP & IFP Timetable (2014 July - December) HERE
+ Download Document on "How to enrol for CFP Exam and Courses" HERE
+ Download CFP Brochure (KMDC Version) HERE
+ Download CFP Brochure (FPAM Version) HERE
+ Download CFP Syllabus HERE
+ Download 2014 CFP Standard Fees & Corporate Package HERE
+ Promotion: 2014 CFP & IFP Friend2Friend Scheme & Nomination Form HERE
+ Promotion: 2014 CFP Early Bird Promotion (Semester 1) HERE
+ Download KMDC & KDU LOCATION MAP HERE
+ Download Instructions on Using SMS for Checking Information & Enrolment HERE
+ Download Request for EPF Withdrawal Form HERE

MORE INFORMATION (requires Acrobat Reader)

+ Download FPAM Trade Member Application Form HERE (For Module 1 students)
+ Download FPAM Associate Member Application Form HERE (For Modules 2-6 students)
+ Download FPAM Examination Registration Form HERE
+ Download FPAM CFP Partial Exemption Application Form HERE
+ Download FPAM CFP Challenge Status Application Form HERE
+ Download FPAM's Document: "Definition of Relevant Financial PLanning Experience" HERE
+ Download FPAM Certified Member Application Form HERE (For those completed Module 6)
+ Download FPAM Certified Member Application Work Experience Summary Form HERE
+ FPAM Web Site HERE
+ FPAM Chartered Members and Related Links HERE
+ Download RFP Exemption Table HERE

I WOULD LIKE TO : + CONTACT A COURSE COUNSELOR + GO BACK TO PROGRAMME MAIN PAGE