cfp study notes 2023: CFP (Certified Financial Planner) Modules, Syllabus, Topics, Learning Outcome, Best Study Materials, Study Books

cfp study notes: Numerous modules on financial planning, risk management, investment management, and other topics are included in the CFP Syllabus. The FPSB’s financial planning program is based on the CFP syllabus. Every aspect of a Certified Financial Planner is covered in this exam preparation.

Candidates who want to work as financial planners, financial advisors, financial analysts, management trainees, project associates, etc. choose certified financial planner courses. The major goal of the CFP curriculum is to prepare students to become competent financial planners by teaching them how to invest and plan their finances.

CFP Curriculum

There are two approaches or multiple pathways through which the CFP Exam can be taken. They are also referred to as Challenge Status Pathways or Regular Pathways.

Candidates for the Regular Pathway must have passed 5 CFP tests, each of which is made up of 6 modules, in order to be eligible to receive the CFP Certification.
Candidates for the Challenge Status Pathway must achieve the minimal Eligibility Standards for Advanced Financial Planning or have better credentials, such as an LLB, Ph.D., CA, CS, etc.

The CFP curriculum includes the foundational knowledge and practical abilities needed to solve financial challenges in the real world. Candidates must pass five of the six examinations in order to become Certified Financial Planners and receive the CFP certificate. The 6 modules for the CFP course examination are listed below.

Overview of Financial Planning

  • Planning for risk analysis and insurance
  • Planning for retirement and employee benefits
  • Investment Management
  • Planning for taxes and estates
  • Comprehensive Financial Planning

cfp study notes

The main topics are covered in CFP courses, from the fundamentals to applications and practical abilities needed to become a certified financial planner. The following table chart lists the key modules and key subjects that are covered in each module:

cfp study notes
CFP ModulesCFP Topics
Introduction to Financial PlanningEstablishing client-planner relationships
Analyse Client Objectives, Needs, and Financial Situation
Implementing and Monitoring the Financial Plan
Regulatory requirements for CFP Certificants
Assessment of risk and client behavior
Cash flow planning, Budgeting, Personal use asset management
Financial Mathematics
Legal aspects of Financial Planning, etc.
Risk Analysis and Insurance PlanningIntroduction to Risk Analysis and its processes
Insurance and Risk Contract
Legal principles in insurance
Identification of life, medical, householders, auto, and other property and liability risk exposures
Life insurance needs analysis and policy analysis
Medical insurance
Insurance of business risk, etc.
Retirement Planning and Employee BenefitsIssues in retirement planning
Types of plAns. Defined benefit plans, Defined contribution plans, Superannuation and other retirement plans
Group Life and Health Insurance
Retirement income streams
Post-retirement counseling
Reform proposals
Investment PlanningHow investment planning is different from selling investment products
Investment risk
Measuring and Managing Risk
Investment portfolio
Fixed income instruments
Mutual funds and Equity shares
Asset allocation
Tax Planning & Estate PlanningTax Planning Considerations
Tax Computations
Tax Planning Strategies
Estate Planning
Property documentation, etc.
Advanced Financial PlanningFinancial Planning Process
Determining the client’s financial status by analyzing and evaluating the client’s information
Risk management
Estate planning
Capital needs at retirement, projections at death, disability, general conditions, and others
List of prioritized action items
Foreign exchange issues for individuals, etc.

CFP Books & Study Guides

One can simply find a number of books or online resources to cover the CFP course syllabus because there are so many study materials available. Numerous books and cfp study materials written by some of the greatest institutions and writers are accessible in India. Books published specifically by the Indian Institute of Banking and Finance and other reputable top universities might be consulted.

Name of the BookName of the Author
Insurance Planning FundamentalsJames F Dalton
Your Guide to CFP Certification Exam: A Supplement to Financial Planning Coursework and Self-Study Materials (2019 Edition)Matthew Brandeburg
Wiley Study Guide for 2019 CFP Exam: Complete SetWiley
CFP Exam Calculation WorkbookCoventry House Publishing
CFP – All Modules Set (6 Modules i.e. set of 8 books) + 20 CASE STUDIES + 15 MOCK TESTSVedanta Educare
Risk Analysis,Insurance and Retirement PlanningIndian Institute of Banking and Finance
Investment Planning Tax Planning and Estate Planning (2017 Edition)Indian Institute of Banking and Finance
Investment Analysis and Portfolio ManagementPrasanna Chandra
Risk Analysis & Insurance Planning (CFP Module 2)Sanjiv Bajaj and Indranil Sarkar

CFP Course Modules Books

CFP Course or ModulesName of the BookName of the Author
Course 1: Introduction to Financial PlanningTools and Techniques of Financial Planning, 13th EditionStephan R. Leimberg
Course 2: Insurance and Risk ManagementInsurance Planning, 7th EditionDalton, Gillice, and Langdon from Money Education
Course 3: Investments PlanningTools and Techniques of Investment Planning, 4th EditionStephan R. Leimberg
Course 4: Tax PlanningIncome Tax Planning, 14th EditionThomas P. Langdon, E. Vance Grange, Michael A. Dalton
Course 5: Retirement Planning and Employee BenefitsThe Tools and Techniques of Employee Benefits & Retirement Planning, 17th EditionStephen R. Leimberg, Joseph F. Stenken, and John J. McFadden
Course 6: Estate PlanningPrinciples of Estate Planning, 3rd EditionCarolynn Tomin and Colleen Carcone
Course 7: Capstone Course in Financial PlanningThe Fundamentals of Writing a Financial Plan, 1st EditionJohn E. Grable, Michelle E. Kruger, and Megan R. Ford

cfp study material free download pdf India

Learning Outcomes for CFP

Some of the learning objectives for the CFP course syllabus include the following:

  • must adhere to and put into effect the Financial Planning Practice Standards, Code of Ethics, and Professional Responsibility of the CFP Board.
  • comprehend the CFP’s position in analyzing one’s risks, retirement planning, etc.
  • should be aware of the significance of investment planning as it pertains to financial planning.
  • basic knowledge of the ethical concerns raised by the financial industry.
  • to comprehend and assess the suitability of tax methods for various situations.
  • After earning the CFP certification, students can pursue lucrative careers as Financial Planners, advisors, Financial Managers, and other related professional responsibilities. This field of finance in India has a very broad scope.

Top 5 Tips to Prepare for the CFP® Exam


Q. What benefits do Certified Financial Planners offer?

The most well-known certification program in this profession, the Certified Financial Planner (CFP) designation, enhances employment rates at wealth banks, mutual funds, and other institutions. This certification program accelerates job advancement, strengthens vital skills, and expands consulting services.

Q. How long does the CFP Certification Course last?

Ans. The CFA certification course’s overall duration is adjustable, so the amount of time required to finish it will depend on the aspirant’s level of commitment and concentration. Depending on the candidate’s potential, the entire CFP Certification course might take anywhere from six months to two years to complete. The length of the self-paced course is determined by the course provider, and

Q. The CFP course lasts how long?

Ans. The pace of the CFP course is determined by the course provider and the candidates. Typically, CFP courses go for a minimum of 6 to 9 months and a maximum of 3 to 4 years.

Q. Can I pursue CFP after I graduate from high school?

Ans. A CFP course can be pursued after passing the 10+2 exam, yes. To be eligible to be certified as a CFP by the FPSB, a candidate must have passed class 12 and must have passed the five tests covering all six modules of the CFP course certification program. They can choose the Regular Pathway mode of the CFP course (Financial Planning Standards Board).

Q. What qualifies for CFP course enrollment?

The primary requirement for CFP eligibility is the completion of class 10+2 from an approved board. For applications under the Challenge status, candidates must have passed the CA/Intermediate level, CFA, ICWA, CAIIB, CS, etc. exams.

Q. How much does a CFP course cost?

Ans. Depending on a number of factors, the average cost of the CFP certification and training might range from INR 40,000 to 60,000.

Q. Is CFP a reliable course?

Ans. Yes, for those looking to advance their careers in finance, the CFP is a superb and very solid professional option. After successfully completing the CFP course, there are several employment prospects as well as good potential for working in private consulting as a Financial Advisor. The majority of CFPs are engaged or employed by a variety of industries, such as banks, NBFCs, financial institutions, wealth management firms, mutual funds, etc.

Q. How much does a CFP make in India?

Ans. Candidates who successfully complete the CFP course can find a number of well-paying positions. At the beginning of their career, a Certified Financial Planner (CFP) can expect to make an average of INR 4,15,700 per year (or INR 22,520 per month), depending on factors like region, designation, etc. In India, the highest average CFP salaries are about INR.

Q. Is CFP applicable in India?

CFP credentials are accepted in India, thus yes. One of the internationally recognized credentials that offer the highest standards in personal financial planning is the CFP designation in India. The CFP program teaches a variety of financial planning and management principles.

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