Non-disclosed - The PFS exam is a non-disclosed examination. This means the questions and answers are not published nor are candidates permitted to remove any examination materials from the testing site. Each examination is carefully graded by our team of psychometricians to ensure that the questions are statistically valid.
Computer-based - The PFS exam is a computer-based examination that lasts a total of 5 hours, including a 30-minute break. Please note that there is not a particular point in the exam where this break is required but candidates are allowed to take up to 30 minutes for a break at one point or during multiple points of the exam.
Multiple-choice - The PFS examination contains 160 multiple-choice questions in two general formats: approximately 50% discrete stand-alone multiple-choice questions and 50% case studies with accompanying multiple-choice questions. A multiple-choice question consists of a stem that includes factual or scenario data and provides four or five options.
Case studies - The case studies will vary in length and include short scenarios followed by 2-5 multiple choice questions and two larger comprehensive cases with 12-18 related multiple-choice questions. The fact pattern of each case study will contain sufficient information to enable the candidate to answer the question. This part of the examination is designed to test the candidate’s analytical reasoning skills and ability to apply financial planning theory and methodology in a comprehensive manner.
Reference material - Candidate will have access to a reference sheet of the appropriate tax rates and limits during the exam.
Mock exam session video - view a short tutorial. Your PFS exam experience will be similar. If you have questions, please contact the PFP Division at firstname.lastname@example.org.
Note: The questions and exhibits utilized in this mock exam session are merely for demonstrative purposes only and do not reflect actual exam content.