The CFP Board announced on Monday the availability of an artificial intelligence-backed exam preparation tool for people pursuing the certified financial planner designation.
Those who sign up for the CFP exam can purchase access to the CFP Exam Prep platform, which adjusts responses to test-takers’ questions to personalize their study path. Candidates can use the text prep tool through an app or their browser. The exam costs $295 alone, or $385 in a bundle with the board’s existing CFP Practice Exam.
The tool comes as the CFP Board seeks to continue boosting use of the designation by acting or future financial planners. Its latest exam, in March, saw the most test takers ever sit for the exam at 3,854 candidates. The pass rate, however, was only 65%.
The CFP Exam Prep platform will supplement the board’s CFP Practice Exam, which it had previously offered potential candidates, and seek to simulate the actual exam.
The new AI-driven test prep was developed by the CFP with Prometric, its test administrator partners. The text platform, which comes in a one-year subscription, includes CFP exam questions, real-time tracking and feedback, customizable quizzes and detailed answers with rationale.
The next CFP exam is in July.
More than 100,000 people currently hold the certification, more than double the 50,000 who held it when CEO Kevin Keller took over in 2007.
Keller announced his retirement plans earlier this year, with a departure date of May 2026. The CFP Board is currently conducting a search for his replacement.
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