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CFP® exam practice questions

The CFP® Certification Exam tests how you apply financial planning knowledge to real situations, across eight areas from professional conduct to estate planning. Education, experience and ethics requirements apply too.

The CFP exam at a glance

Scored questions
170
Time
6 h
Passing score
Set by CFP Board for each exam (not a fixed percentage)
Fee
See CFP Board
Sponsorship
Education, experience and ethics requirements apply
Prerequisites
CFP Board education requirement (or approved credentials)
Format
Two 3-hour sessions of 85 questions, with stand-alone questions, short scenarios and longer case studies.

Checked by ELLE in October 2026. Exams change, so always confirm on the official site before you book.

Try 5 free questions

1 A client asks how much to keep in an emergency fund. What is the most common guideline?

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Answer: B. Three to six months of essential living expenses is the usual starting point. More may make sense for people with variable income or a single income in the household.

2 How are qualified distributions from a Roth IRA taxed?

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Answer: C. Qualified Roth IRA distributions are tax-free. A distribution is qualified after the five-year rule is met and the owner reaches 59½ (or another qualifying event applies).

3 Which describes term life insurance?

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Answer: A. Term insurance covers a stated period and usually has no cash value, which is why it costs less than permanent insurance for the same amount of coverage.

4 When giving financial advice, how must a CFP® professional act under CFP Board’s Code of Ethics and Standards of Conduct?

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Answer: B. CFP® professionals have a fiduciary duty when giving financial advice: they must act in the client’s best interests, with duties of loyalty, care and following client instructions.

5 Which assets generally pass to heirs without going through probate?

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Answer: A. Assets owned by a revocable living trust pass under the trust’s terms without probate. Assets passed by will go through probate.

Study tips for the CFP

  • Study by the eight principal knowledge domains, giving the most time to retirement, investment and tax planning.
  • Practice case studies: read the question first, then the case, so you know what to look for.
  • Keep a list of the numbers you use often (contribution limits, thresholds) and update it from current sources.
  • Simulate the real day: two three-hour sessions with a break, at least twice before the exam.

Ready for the full CFP prep?

ELLE Certify builds a study plan to your exam date, with practice by topic, timed exams, a coach that explains every answer, and a list of the questions you missed. All inside a community of women who have been where you are.

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Practice questions written by ELLE for study only. ELLE is not affiliated with or endorsed by FINRA, NASAA, the SEC or CFP Board. CFP® and CERTIFIED FINANCIAL PLANNER® are certification marks owned by Certified Financial Planner Board of Standards, Inc.