8/10/2019 Fpsc Level 1 Examination in Financial Planning Blueprint

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Introduction

The FPSC Level 1 Examination in Financial Planning

Blueprint  sets out the parameters as to what is

assessed on the examination and the percentage value

assigned to competencies as defined within the CFP® 

Professional Competency Profile (Competency Profile).

The FPSC Level 1 Examination Blueprint  guides test

developers and the Panel of Examiners in the

development of the FPSC Level 1 Examination and

assists candidates in understanding what will be

tested on the examination.

Every question on the FPSC Level 1 Examination focuses

primarily on a specific element of competency from the

Competency Profile and may also require integration

across several financial planning competencies.

Examination candidates should use the FPSC

 Level 1 Examination Blueprint  together with the

Competency Profile to focus their studies.

Candidates are also expected to have proficiency in

the Professional Skills included within the Competency

Profile. In particular, Professional Skill 1—Professional

Responsibility will be integrated into at least 6% of the

examination questions.

The Technical Knowledge listed in the Competency

Profile is also a fundamental expectation though it is

not explicitly weighed on the examination in the same

way as are the competencies; candidates will be

required to sufficiently apply the knowledge necessary

to demonstrate competence in the practice of financial

planning throughout the examination.

Level of ComplexityVisual C 

The level of complexity generally increases as (1) the

difficulty of the situation and information to process

increases and (2) the number of variables to consider

and the need to integrate different variables increases.

Level of complexity is broken down into three levels for

the exam questions: basic, moderate, and high. Levels

are illustrated in Visual C.

Basic: 51% to 61%

 Application of knowledge of various facets of financial

planning to straightforward financial planning

situations. Questions at the basic level focus on

specific content areas and may require, for instance,

basic calculations, evaluation across single or a small

number of topics, or making simple recommendations.

Moderate: 39% to 49% Application of knowledge in average financial planning

situations with multiple variables. Requires the

assessment and processing of a number of elements

to identify a solution or formulate a recommendation.

Questions at the moderate level focus on more

complex situations and may require, for example,

multistep calculations and the assessment and

integration of multiple variables and interrelated factors.

High: 0%

High complexity is defined as the application of

advanced knowledge of complex financial planning

situations involving multiple variables and considerable

integration to analyze situations and form

recommendations. High complexity questions will not

appear on the FPSC Level 1 Examination.

Question Format

The FPSC Level 1 Examination consists of approximately

95 multiple-choice questions. Questions will be

presented as single independent items or as part of a

case set of questions linked to a detailed case scenario.

Case Set Questions 10% - 20%

Independent Questions 80% - 90%

Duration

FPSC Level 1 Examination: 4 hours

Content

Content on the examination will be allocated by the

elements of competency outlined in the Competency

Profile. Percentages are illustrated in Visuals A and B.

Financial Planning FunctionsVisual A

Proportionally represents the percentage of content on

the examination related to Collection, Analysis, and

Synthesis and graphically illustrates the specific Core

Financial Planning Competencies within each function.

Financial Planning ComponentsVisual B

Includes weightings for the seven Financial Planning

Components that span across all functions. Refer to

the Competency Profile for descriptions.

Blueprint: FPSC Level 1™ Examination in Financial Planning

8/10/2019 Fpsc Level 1 Examination in Financial Planning Blueprint

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0%

10%

20%

30%

40%

50%CLevels ofComplexity

BASIC

51-61%

MODERA

T E

39-49%

HIGH

0%

Blueprint: FPSC Level 1™ Examination in Financial Planning

36-46%

35-45%

FinancialPlanningFunctionsA B

14-24%

1.0 - COLLECTION2.0 - ANALYSIS3.0 - SYNTHESIS

FinancialPlanningComponents

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

3.1:  Synthesizes informationto develop strategiesto create a financial plan

11-21%

3.0: Fundamental FinancialPlanning PracticesSynthesis

1-5%

2.2 :  Assesses informationto develop strategies

11-21%

2.1:  Considers potentialopportunities andconstraints todevelop strategies

15-25%

2.0: Fundamental FinancialPlanning PracticesAnalysis

2-8%

1.2:  Collects qualitativeinformation

13-23%

1.1:  Col lects quantitativeinformation

11-21%

1.0:  Fundamental FinancialPlanning Practices Collection

3-9%

6-16%ESTATE PLANNING

9-19%RETIREMENTPLANNING

6-16%TAX PLANNING

11-21%FINANCIALMANAGEMENT

14-24%ASSETMANAGEMENT

9-19%FUNDAMENTALFINANCIALPLANNING

PRACTICES

In preparing for writing the FPSC Level

1 Examination, candidates should be

aware of the difference in levels of

complexity for the FPSC Level 1Examination and the CFP examination.

The FPSC Level 1 Examination content

focuses on generally less complex

financial planning situations in

comparison to the CFP examination.

See reverse for definitions.

CFP®, CERTIFIED FINANCIAL PLANNER®  and are certification trademarks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planning Standards Council is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB.

 All other® are registered trademarks of FPSC, unless indicated.©2014 Financial Planning Standards Council. All rights reserved. Version 2.0®

10-20%RISK MANAGEMENT