UNIVERSITI TUNKU ABDUL RAHMAN
Certified Financial Planner (CFP) Certification Programme
CFP®, CERTIFIED FINANCIAL PLANNER® and CFP® are certification marks owned outside the United States by Financial Planning Standards Board Ltd. FPAM is the marks licensing authority for the CFP Marks in Malaysia, through agreement with FPSB.
UTAR does not certify individuals to use the CFP, CERTIFIED FINANCIAL PLANNER and CFP marks. CFP certification is granted only by FPSB and FPAM to those persons who, in addition to completing an educational requirement offered by this FPAM-approved Education Provider, have met the ethics, experience and examination requirements.
Entry Requirement
- Bachelor Degree
- For Non degree holder, if you have SPM qualification and at least 5 years of relevant work experience, you can sit for Prior Learning Recognition Assessment (PLRA) – a multiple-choice test. Once passed, you are eligible to apply for CFP programme. Candidates are only allowed to register for the PLRA assessment 2 times and there must be a break of 6 months between the attempts. If you are interested to take the exam, please contact Ms Fong Lai Peng from FPAM, at Email: laipeng@fpam.org.my or Tel: 03-7954 9500 to arrange for the exam.
- UTAR Degree student (Student from Bachelor of Finance and Bachelor of Banking & Finance are exempted from Module 3)
- Adults who just want to gain knowledge in personal financial planning and have no intention to take the exam to become Financial Planner.
CFP Career Pathway
CFP Pathway
Here to download CFP PDF Pathway guide
Modular Exemption
Degree holders of following qualifications are granted exemption as listed below
| Qualification | M1 | M2 |
| FiMM active member who has passed ‘CUTE’ examination | X | |
| FiMM active member who has passed ‘PRS’ examination | X | |
| Registered Financial Planners (MFPC) Holder | X | X |
| Shariah Registered Financial Planners (MFPC) Holder | X | X |
*Please note that successful applicants must attend the Tax Planning Workshop before registering for further modules.
UTAR Students from Bachelor of Finance and Bachelor of Banking & Finance are exempted from Module 3.
How to apply for CFP Modular Exemption?
- Attach a certified copy of your degree and academic transcript or a certified copy of your approved credentials to support your application. Certification can be done by a Commissioner of Oath, CFP certificant, our approved Education Providers or member of MIA. All certifications must bear the full name and membership number of certificant (where applicable).
- Complete the Trade membership (if you are not a member yet) and Associate membership forms. Enclose together with payment to FPAM. Payment is only required for Associate membership application.
- Applicants are required to complete both the Trade Membership and Associate Membership forms.
- All applications are subject to review and approval by FPAM. FPAM may in its absolute discretion refuse to grant the modular exemption to any applicant.
- If you have any concerns, issues or further queries regarding your modular exemption, please contact FPAM by email at membership@fpam.org.my
Modular Exemption Form please contact:
Ms Iris at tel: +603 9019 8088 or email: vooiwk@utar.edu.my (UTAR Sungai Long)
or Ms Joyce Loo at tel: +605 468 8888 ext: 2568 or email: looyh@utar.edu.my (UTAR Kampar)
Challenge Status
Only Malaysians who possess the following qualifications or professional credentials with 3 years relevant work experience in personal finance are eligible to apply. Exemption is for Modules 1-3 of the CFP certification. Applicants are allowed only 3 consecutive attempts under this option.
- Qualifications:
- Professional Accountants (CA(M), CPA(M), ICAEW, CPA(Australia), AICPA, ACA, ACCA, ICMA and AIA)
- Chartered Secretaries (ICSA & Fellow of MACS)
- Chartered Financial Consultants (ChFC)
- Chartered Financial Analysts (CFA)
- Islamic Financial Planner (IFP) - Applicants are required to attend Insurance Planning & Estate Planning workshop in addition to the Module 4 workshop
- PhD (Business, Accounting & Economics)
- Masters (Business Administration/Finance/Economics/Accounting) from accredited universities
- 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. The 3 years of relevant work experience must be within the 5 years prior to application for Challenge Status.
- 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 enrol for the normal CFP certification examinations.
How to apply for CFP Challenge Status?
- Complete Trade membership registration form. Trade membership fee is waived for one year only.
- Attach a certified copy of your Masters or PhD and academic transcript or a certified copy of your approved professional qualifications to support your application. Certification can be done by a Commissioner of Oath, CFP certificant, our approved Education Providers or a member of MIA. All certificates must bear the full name and membership number of certificant (where applicable).
- Enclose letter(s) from present/past employer(s) confirming 3 years of relevant work experience. If you are self-employed, a CFP certificant or a member of MIA can attest to your years of work experience.
- All applications are subject to review and approval by FPAM. FPAM may in its absolute discretion refuse to grant the challenge status exemption to any applicant.
- If you have any concerns, issues or further queries regarding your challenge status exemption, please contact FPAM by email at membership@fpam.org.my
The application fee of RM450 for Challenge Status excludes all examination fees. Please note that applications which are incomplete or not supported by certified copies of documents will not be processed. Fax and /or photocopy applications will not be accepted.
.
FPAM Fees
| Exam Fee | M1 / M2 / M3 (RM) | M4 (RM) |
| UTAR Student | 250 | 500 |
| Charter Member Rate | 250 | 500 |
| Corporate Member Rate | 300 | 600 |
| Individual (Public Rate) | 350 | 700 |
The membership types for individuals are Trade, Associate and Certified
| Member Fee | Jan - Dec (RM) | July - Dec (RM) |
| Trade Member (For M1 Participant) | 50 | 25 |
| Associate Member (For M2 - M4 Participant) | 150 | 75 |
| Certified Member (For those who completed all modules) | 410 | 285 |
To check the Charter and Corporate members listing, please click here:
Charter Member: http://fpam.top/membership/types-of-members/charter-members/
Corporate Member: http://fpam.top/membership/types-of-members/corporate-members/
- If you are working in one of the Charter or Corporate members of FPAM, please get the endorsement on the examination form to be entitled to discounted rate for examination fees.
- UTAR Student, Alumni & Staff are entitled to the charter rate for the examination fee.
.
Course Outline
CFP Module 1
Foundation in Financial Planning
CFP course provides a comprehensive examination of the entire financial planning process, along with an overview of the specific areas of personal income tax planning, risk management and insurance, investment planning, retirement planning, and estate planning.
Topic 1 : The Financial Planning Industry in MalaysiaTopic 2 : The Economic Environment and its Effects on Financial Planning
Topic 3 : Risk Management and Insurance Planning
Topic 4 : Investment Planning
Topic 5 : Income Tax Planning
Topic 6 : Retirement Planning/Estate Planning
Topic 7 : The Basics of A Financial Plan
Topic 8 : Code of Ethics
CFP Module 2
Insurance Planning & Estate Planning
This CFP module covers various aspects of fundamental concepts in risk management And insurance, including how insurance rates are developed, what types of contracts are available, how to read insurance proposals, and how life insurance is used in financial planning. Other topics include health insurance plan and legal aspects of insurance.
Topic 1 : Fundamental Concepts in Risk Management
Topic 2 : Insurance Fundamentals
Topic 3 : Legal Principles in Insurance
Topic 4 : The Role of Insurance in Financial Planning
Topic 5 : Factors Affecting Life Insurance Needs
Topic 6 : Understanding Life Insurance Policy Contracts
Topic 7 : General Insurance Policy Contracts
Topic 8 : Health Insurance
Topic 9 : Annuity Policy Contracts
Topic 10 : Legislation and Rules in the Insurance Industry
Topic 11 : Consumer Protection and Life Insurance Industry Codes of Practice
Part II : ESTATE PLANNING
Topic 12 : Estate Planning Fundamentals
Topic 13 : Wills and Will Planning
Topic 14 : Trusts
Topic 15 : Powers of Attorney
Topic 16 : Duties and Powers of the Personal Representative
Topic 17 : Special Estate Planning Issues for Business Owners
CFP Module 3
Investment Planning & Retirement Planning
To understand the concepts of risk and return, the financial markets and the various financial instruments available, financial mathematics and statistics, the analysis of financial statement, the basic concepts and tools of asset valuation, asset pricing models and portfolio management. The aim is for candidates to gain the knowledge to evaluate alternative investments, the advantages and disadvantages, and to make suitable investment recommendations to clients.
Topic 1 : Investment Concepts
Topic 2 : Concepts of Portfolio Theory and Performance Measures
Topic 3 : Equity Market
Topic 4 : Investment in Debt Securities
Topic 5 : Derivatives and Structured Products
Topic 6 : Collective Investment Scheme and Unit Trusts
Topic 7 : Real Estate Investment
Topic 8 : Investment for Retirement
Part II : RETIREMENT PLANNING
Topic 9 : The Underlying Principles of Retirement Planning
Topic 10 : Retirement Schemes
Topic 11 : The Employee Provident Fund (EPF) and Private Retirement Scheme (PRS)
Topic 12 : Retirement Income Streams
Topic 13 : Role of Financial Planner in Pre-Retirement Counseling
CFP Module 4
Financial Plan Construction and Professional Responsibilities
Topic 1 : Financial Planning and The Regulatory Environment
Topic 2 : Financial Planning Process
Topic 2a : Establishing Client-Financial Planning Professional Relationships
Topic 2b : Gathering Client Data and Determine Goals and Expectations
Topic 2c : Determining the Client’s Financial Status and Evaluating the Client’s Information
Topic 2d : Analyse Client Objectives, Needs and Financial Situation
Topic 2e : Developing and Presenting the Financial Plan
Topic 2f : Implementing the Financial Plan
Topic 2g : Monitoring the Financial Plan
