B. Are CFP^CM Practitioners from other countries, like US & Australia, recognised here?
Yes. There is a reciprocal relationship. Currently, licensed CFP^CM Practitioners from other countries are exempted from the required academic courses and are eligible to take the challenge exam, i.e. module six exam.

C. Study Methods

1. Does Financial Perspectives offer a self-study option and what are the advantages of this study method?

2. Does Financial Perspectives offer tutorial classes?

3. Is there a limit on the number of students who can attend the tutorial workshops?

4. Can I switch between study methods?

5. If I'm a self-study student, can I sign up for workshops?


1. Does Financial Perspectives offer a self-study option and what are the advantages of this study method?
Yes. You can study at your own pace and location rather than on a prescribed schedule. For busy adult students with full-time careers, this is a convenient, effective and economical study method. Our courses offer two choices of custom-designed study guides, in an easy to use interactive CD-Rom format or in traditional hard-copy. This is further supplemented with relevant textbooks and additional resource materials. The study-guide takes you through all required learning objectives on a step-by-step basis. Review questions with answers and practice examination questions are provided. The Interactive CD-Rom has included 2 sets of On-line MCQ Practice Questions.

2. Does Financial Perspectives offer classes?
Yes. FP offers a Classroom based study option where results are guaranteed (Conditions apply, please see Qn6). This includes tutorial workshops that are intended to supplement the student's self-directed study. Six tutorial workshops with a total of 22 hours (Module 1-5)of instructional time will be conducted for each course Module. This also includes a 4.5 hour workshop for Examination Preparation which is conducted to better prepare students for the examination. Therefore, a total of 130.5 lecturer-student contact hours are provided for all the 6 Modules. The workshops focus on the core syllabus requirements and are intended to further prepare students in passing the FPAS exams. Extra notes/questions are also provided by the lecturers during classes.

Students who opt for the classroom-based study method will also have access to the Online Student Q & A Service whereby questions or queries can be emailed to us at cfp@fp-edu.com and our lecturers will provide detailed answers.

3. Is there a limit on the number of students who can attend the tutorial workshops?
Yes. Due to classroom restrictions, there are limited places for students who wish to enrol for the tutorial workshops. Places in the workshops are allocated on a first-come first-served basis. We will only open new classes upon sufficient demand.

4. Can I switch between study methods?
Yes, students can opt for different study methods and just pay the price for the particular module according to the study method they have chosen. E.g. If a student chooses the classroom based study method for Mod 1 and subsequently opt to switch to self-study method for Mod 2, they can do that by just paying the fees accordingly to the study method for the particular module.

5. If I'm a self-study student, can I sign up for workshops?
Yes, a self-study student can sign up for workshops if they wish to. Fee payable for attending workshops are: $265 each.

Students have an option of using the interactive CD-Rom and/or traditional printed study guides. These custom-designed study guides and CD-Rom have been specifically developed to meet the FPAS syllabus. The study materials were developed intentionally and then adapted for the Singapore market. The comprehensive study guides are designed to guide the student through the required learning objectives on a step-by-step basis with learning goals and glossary of key terms. Review questions are provided at the end of each lesson and mock examination papers are also included at the end of each study guide. More quiz questions and learning goals have been added to aid students in their understanding of the course. The materials are well-proven; having been used by thousands of candidates both overseas and locally. The study materials are updated regularly to reflect any changes in FPAS syllabus and other legislative or industry changes.

1. Interactive CD-Rom- The user-friendly interface allows for easy navigation. More convenient for easy studying anywhere, anytime. 2 mock examination papers are included and a glossary of key terms are provided at the end of each chapter. Users are able to bookmark, highlight or make notes on the soft-copy.
2. Study Guides- Charts, tables, exhibits and figures are used to present information in a visual manner so as to further clarify concepts. The main points of each lesson are summarised at the end of each chapter.
   

2. Can I still buy the printed study guides if I have chosen the CD only option?
Yes, students who choose the CD only option can subsequently choose to purchase the printed study guide if they wish. The price for the printed guides per module are: $68 each.

3. What textbooks are required?
"A Singapore Guide to Personal Financial Planning" is required for the 1st course module, Foundations in Financial Planning. The second edition has been published in June 2001 and it has been updated to reflect recent Budget, legislative and CPF changes. The book retails for S$88 and FP students will receive a student price of only S$70.00.

E. What are the CFP^CM Program fees?
Students have a choice of different study options, each with a competitive price. The interactive CD-Rom, self-study option is the lowest priced CFP^CM Education Program. There is also a modular payment scheme.

F. The AFP^CM Program

1. What is the AFP^CM Program?

2. If I take the AFP^CM Program first, can I then take the CFP^CM Program?

1.What is the AFP^CM Program?
The AFP^CM Program is not a separate program per se but rather the first course module of the CFP^CM Program, i.e. Foundations in Financial Planning. It is a broad based module touching on all aspects related to personal financial planning and builds the foundation for the remaining 5 modules of the CFP^CM program. Students are required to pass the FPAS certification examination for this single course module and fulfill the FPAS ethics requirement to earn the right to use the professional marks - AFP^CM and Associate Financial Planner.

2. If I take the AFP^CM Program first, can I then take the CFP^CM Program?
Yes, as the first course module of the CFP^CM Program is the same as the course module for the AFP^CM Program. Students would then be required to only take course modules 2 - 6 to complete the remainder of CFP^CM Program.

G. Examination Guidelines

1. Who sets the examination papers?

2. Do students from different education providers of the CFP^CM Program sit for the same examinations?

3. What is the time schedule for exams?

4. What happens if I fail an exam paper?

5. How many times can I retake the examinations for each module, if I fail?

6. What is the grading system of the exams?

7. How do I register for FPAS exams?

8. Are past years' examination papers available for reference?

1. Who sets the examination papers?
The examinations will be set by the FPAS, with the assistance of the examination board of the Certified Financial PlannerTM Board of Standards.

2. Do students from different education providers of the CFP^CM Program sit for the same examinations?
Yes, all students of the FPAS-approved education providers must sit for the same examinations.

3. What is the time schedule for exams?
The curriculum for the CFP^CM Program consists of six course modules. After completing the material for each course module, students are required to sit for an exam paper related to each module. These exams will be held in April/May, July and November each year. Please check with FPAS directly for the exam dates.

4. What happens if I fail an exam paper?
If a student fails an exam paper, he or she is required to sit for the examination again in the following semester. The student may also attempt additional papers in the following semester whilst retaking the first paper. Note that FP updates our study materials each semester and students are advised to obtain the updated course materials for that particular course module prior to retaking an exam paper.

5. How many times can I retake the examinations for each module, if I fail?
There is no limit on the number of attempts at the examinations as long as you complete the CFP^CM Program within 7years.

6. What is the grading system of the AFP^CM and CFP^CM exams?
Please check with FPAS for details.

7. How do I register for FPAS exams?
You will have to complete a FPAS registration form for examination and make the required payment, i.e. S$100 each for Modules 1-5, and S$230 for Module 6. Examination fees are paid directly to FPAS. The registration form for examinations is available online at www.fpas.org.sg

8. Are past years' examination papers available for reference?
No, past years' examination papers are never released and the FPAS syllabus will be changed constantly to meet changing market conditions. Therefore, the examination preparation classes conducted by FP will aid students in their preparation for the examinations as students will sit for a mock examination simulating the actual FPAS examination. The questions in the mock examination are prepared by FP's experienced lecturers.

I. Admission Requirements & Enrolment Procedures

1. What is the minimum admission requirement?

2. What is the procedure for Enrolment?


1.What is the minimum admission requirement?
At least a full GCE 'A' level certificate or higher. Individuals who also have three years working experience in any profession may also qualify.

2.What is the procedure for Enrolment?

1. Applications must be made with a properly completed Enrolment form.
2. Applicants must attach copies of documents supporting their admission and/or exemption requests. Certified True Copies of documents are required for exemption requests.
3. Applicants must include a crossed cheque, made in favour of "Financial Perspectives Pte Ltd" with the Enrolment Form.
4. A properly completed Enrolment Form, supporting documents and a cheque for the appropriate amount should be sent to Financial Perspectives. Please note that incomplete enrolment forms or the lack of supporting documents will cause a delay in processing the student enrolment.

J. About SDF reimbursement

1. Does the SDF provide course fees reimbursement for the programs?

2. How does one qualify for the SDF reimbursement?

3. What must be done in order for the company sponsor to receive the SDF     

4. Does one have to finish the entire CFP^CM Program before reimbursement can be    

5. Does one have to pass an examination before reimbursement can be made?

6. Who should be contacted for questions related to SDF reimbursement?

1.Does the SDF provide course fees reimbursement for the programs?
Yes. SDF provides course fees reimbursement for all 6 modules of the CFP^CM programs upon completion of FP's classroom based study method. Terms and Conditions Apply. .

2.How does one qualify for the SDF reimbursement?
All students wishing to qualify must enrol in FP's classroom based programs and have their company/sponsor pay for the course fees, FPAS membership fee and FPAS exam fees directly from the company/sponsors account. These companies need not be charter/corporate members. Note payment from the company/sponsor account must be made at the time of enrollment. If the sponsor is not a Pte Ltd company, then payment should be made from the regular business account used by the sponsor. In addition, the sponsor must apply for SDF assistance using Form 1 (Version U) and this application MUST reach the SDF at least one full working day prior to the commencement of the tutorial workshops. Form 1 (Version U) is available from the SDF directly (see below for contact details.)

3.What must be done in order for the company/sponsor to receive the SDF reimbursement?
Company/sponsor must submit a claim form, which will be directly provided by the SDF after application (Form 1) has been received. Along with the claim form, the company/sponsor must have a receipt for payment (proving payment made from company/sponsor account), confirmation that each agent attended at least 75% of the classes, and confirmation that the agent attempted the relevant exam. The receipt and confirmations would then be submitted to the SDF along with the claim form.

4.Does one have to finish the entire CFP^CM Program before reimbursement can be made?
No. Reimbursement can be applied for after the examination of each module.

5.Does one have to pass an examination before reimbursement can be made?
No. Reimbursement can be made even if an examination is not successfully passed, i.e. SDF requires only that the exam be attempted and there must be at least 75% attendance during the classes.

6.Who should be contacted for questions related to SDF reimbursement?
Please contact:
Singapore Workforce Development Agency
Incentives Management Division
No 1 Marina Boulevard
#17-01 ONE Marina Boulevard
Singapore 018989
Tel: 6223 0012 and Fax: 6512 1333
E-mail: wda_sdf@wda.gov.sg

K. More about SDF

1. Who can apply for SDF Grant?

2. How To Apply?

3. When to Submit the SDF Application Form?

1. Who can apply for SDF Grant?
- SME's registered or incorporated in Singapore, including Agency Managers can apply for their sponsored employees/advisors.
- Principals and Agency Managers can apply for their Agents under the follow scenarios:
a)When there is a letter from the principle certifying that the individuals is an authorized agents, and there is a copy of the agency contract and license.
b)When the agent has a basic agent's contact with the principal, the agency manager pays for the agent's training ( Payment voucher as evidence)and the agency manager has a contract with the same principal.

2.How to Apply?
You MUST fill up the Form 1 (Version U) for each different module. This application MUST reach the SDF at least one full working day prior to the commencement of the tutorial workshops.Please mail together with copy of payment Invoice (from FP) & relevant documents (stated above) to:

The Singapore Workforce Development Agency
Incentives Management Division
No 1 Marina Boulevard
#17-01 One Marina Boulevard
Singapore 018989
Tel: 6223 0012 Fax: 6512 1333
Email: wda_sdf@wda.gov.sg

3. When to submit the SDF Application Form?
The application form must be received by the SDF at least ONE FULL working day before the commencement date of the course module class the Trainee(s) will be attending.

L. About the Financial Planning Association of Singapore

1. How does FPAS plan to promote financial planning in Singapore?

2. What are FPAS's membership fees?

3. Who are the Charter/Corporate Members?

1.How does FPAS plan to promote financial planning in Singapore?
In February of 2000, FPAS embarked on a three-year public awareness campaign to promote the benefits of and need for financial planning. FPAS is joined in this three-year campaign by the CPF Board and the Ministry for Community Developments and Sports. Together all three organisations will educate Singaporeans of the need to take charge of the finances and to plan early. Members of the public will be encouraged to seek expert advice through FPAS trained financial planners, i.e. Certified Financial PlannersTM . FPAS will also conduct other public relations campaigns to promote awareness of financial planning among Singaporeans and the credibility of CFP^CM's, or Certified Financial PlannersTM.

2.What are FPAS's membership fees?
FPAS has three categories of individual memberships. The FPAS membership fees are:

3.Who are the Charter/Corporate Members?
The list of Charter/Corporate Members is available from FPAS or their website. Employees of the Charter/Corporate members are entitled to the reduced rates for the AFP^CM and CFP^CM Programs.

M. Others

1. If I am granted exemptions from certain modules, do I still pay the full amount in course    

2. Must the course modules be taken sequentially?

3. Are the written exams the main criteria for certification? If not, what are the other

4. What is the difference between the CFP^CM, CFA and CPA designations?

5. What is the difference between the CFP^CM and ChFC/S designation?

6. What is the difference between the AFP^CM and AFC designations?

1.If I am granted exemptions from certain modules, do I still pay the full amount in course fees?
Students must first enrol in the CFP^CM program and then apply for exemptions. With the modular payment scheme, students need only to pay for the modules that they are taking.

2.Must the course modules be taken sequentially?
It is recommended that the course modules are taken in sequence but this is not required. Students must however take Module 1 (Foundations in Financial Planning) first and Module 6 (Financial Plan Construction and Professional Responsibilities) last. Module 1 can be attempted first along with one other Module (excluding Module 6). After Module 1 has been cleared, students may attempt all Modules simultaneously, i.e. modules 2-5, before attempting paper 6. For the typical student who intends to expedite his studies, we recommend Module 1 and 2 upon enrollment and then Modules 3, 4 and 5 in the following semester. Assuming all papers have been cleared, Module 6 would be attempted in the third semester.

3.Are the written exams the main criteria for certification? If not, what are the other requirements?
Upon successfully completing the CFP^CM Program and passing all examinations, students are required to fulfill the ethics requirement by being an active member of FPAS. In addition, students must also satisfy the experience requirement by having three years relevant experience.

4.What is the difference between the CFP^CM, CFA and CPA designations?
CFP^CM stands for Certified Financial PlannerTM. CFP^CM Practitioners are financial planners and primarily advise individuals about a broad range of issues related to personal finances. This includes overall financial planning along with personal investment portfolio planning, insurance planning, retirement planning, tax and estate planning. CFP^CM Practitioners offer a broad range of services directed at individuals and covering many areas related to personal finance.

CFA stands for Chartered Financial Analyst. CFA's are primarily investment professionals with a more narrow range of services as they are highly specialised investment professionals. In general, their activities are not geared toward providing advice to individuals. Instead, CFA's are employed as fund managers, research analysts, pension fund administrators, etc.

CPA stands for Certified Public Accountant. CPA's are primarily tax and audit professionals with a more narrow range of services as they are highly specialised tax and audit experts. In general, their activities are not geared toward providing advice to individuals. Instead, CPA's generally advise companies on tax and audit matters.

5.What is the difference between the CFP^CM and ChFC/S designation?
CFP^CM stands for Certified Financial PlannerTM and this designation is awarded by the Financial Planning Association of Singapore (FPAS) in conjunction with the CFP^CM Board of Standards. The CFP^CM designation is the most recognised financial planning designation globally and there are approx. 60,000 licensees worldwide. CFP^CM Practitioners are able to practice in other countries since the are recognised globally. The International Standards Organization (ISO) in Geneva, Switzerland is in the process of establishing global standards for personal financial planing and these standards will be based on the CFP^CM six-step financial planning process. CFP^CM Practitioners are recognised as objective advisers as they do not represent any one industry. In fact, CFP^CM Practitioners are composed of leading bankers, fund managers, lawyers, accountants, stock brokers, private bankers and insurance advisors, which is why the designation is so highly recognised. CFP^CM Practitioners are being promoted by FPAS, the CPF Board and the MCDS, through their 3-year public education campaign, as objective professionals that the public should seek out when requiring financial advice.

ChFC/S stands for Chartered Financial Consultant and this designation is awarded by the Singapore College for Insurance in conjunction with the American College. The "S" signifies that the designation is awarded locally in Singapore and holders must display this at all times. The ChFC designation has grown out of the insurance industry and as such, those pursuing it are primarily insurance agents.

6. What is the difference between the AFP^CM and AFC designations?
AFP^CM stands for Associate Financial Planner and this designation is awarded by the Financial Planning Association of Singapore. AFP^CM candidates are required to sit for one examination paper only, i.e. the first paper of the CFP^CM Education Program (Foundations in Financial Planning.) Upon successful completion, AFP^CM licensees will then only need to complete Modules 2-6 of the CFP^CM Program. Since AFP^CM licensees are licensed by FPAS, they are promoted to the public as being capable of providing general financial planning advice. The public is able to access a list of AFP^CM licensees from the FPAS website (www.fpas.org.sg) in order to receive advice from them.

AFC stands for Associate Financial Consultant and this designation is awarded by the Life Insurance and Financial Advisors Society. AFC candidates are required to sit for two examination papers. AFC's are not recognised by FPAS and they are not exempt from any of the CFP^CM Program modules.