Certified Financial Planner (CFP) passing rate is 4 times as high as the national average
[2009-6-12]
School of Business of Yeungnam University is rising as a delivery room of international certified financial specialists.
According to Yeungnam University on 12th, as a result of CFP(Certified Financial Planner) exam held on 23rd and 24th, there was a splendid achievement that 80% of applicants from financial license preparation class of the School of Business passed the exam. This is the result which is 4.3 times higher than the national average passing rate which is merely 18.7%.
‘CFP’ is the highest level of financial specialist certified by CFP Board of the United States from the intention of contributing to public interest by raising speciality of financial planning. To become a CFP, 4 E's that are basic qualification requirements including Ethics, Education, Experience and Exam must be satisfied. Especially, one must acquire AFPK license in advance after receiving a required education from a AFPK(Associate Financial Planner Korea) designated educational facility that could be called 'preliminary preparation process for CFP'. to pass the exam. Only CFP can provide general financial services to customers.
Thus, one must pass many barriers where a lot of time and effort are required in order to become a CFP. Despite this fact, the interest toward CFP is getting greater in a situation where the financial borders between the countries was vanished by the enforcement of the law regarding the Capital Market and Financial Investment Service Act. For instance, CFP is reckoned as a prospective career to the extent of placing no. 1 in the career preference survey of the Unite States.
For this reason, the School of Business of Yeungnam University had signed MOU with Edustock which is a CFP designated education center since Oct, 2008 and started online and offline education of CFP at the same time. During the vacation, Professor Im, Byung-Jin and CFP instructors held a special lecture to unburden students' mind preparing for CFP license exam. Especially, the acting CFPs of Korea FP Association have met the students directly to encourage younger students as they told about the know-how in the preparation stage of license and experiences in the practical work process. As a result, it gave a splendid achievement of recording a passing rate reaching up to 4.3 times the national average as 8 out of 10 students who have completed the education at the end of May this year.
On that result, Professor Han, Young-Chun (52) of the School of Business said that "we will manage the AFPK course and CFP course more systematically and organically to produce more internationally certified financial specialist." by saying "the social demand for more specialized financial service gets greater as economy grows. At the same time, the demand for ethics of financial specialists is getting higher by experiencing international financial crisis recently. Therefore, a CFP possessing both the professionalism and ethics is indeed the financial specialist that we need."
