Accomplishments
CFP, CLU, ChFC
Curriculum for the CFP
The Certified Financial Planner (CFP) designation is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards, Inc. (CFP Board)[
To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee.
The CFP Certification Examination is a 10-hour multiple choice exam, divided into one four-hour session (Friday afternoon) and two three-hour sessions (Saturday). The exam includes three major case problems and are designed to assess the student's ability to apply his or her knowledge of the aforementioned areas to financial planning situations. The exam was set as a requirement in 1993 and at that time CFPs were grandfathered without having to pass this exam.
The following courses have been completed for examination
Fundamentals of Insurance Planning HS 311
Focuses on the role of planning for insurance needs. Covers basic concepts in risk management and insurance, insurance industry operations, legal principles pertaining to this industry, and regulation of insurers. Examines social insurance, life insurance and annuities, medical and disability income insurance, long-term care insurance and personal property and liability insurance. Concludes with an overview of commercial property and liability insurance and a case study.
Individual Life Insurance HS 323
Focuses on life insurance policies and annuities available for the personal needs of individuals and their use in financial planning. Covers individual insurance products and insurance reserves regulation. Also covers insurance company organization, operations and investments.
Life Insurance Law HS 324
Examines legal rights and obligations of the policy owner and the insurance company, the way disputes between insureds and insurers are resolved and general principles of the judicial process. Covers legal aspects of life insurance, including basic principles of contract law; policy provisions and the incontestable clause; assignments, ownership rights and creditor rights; beneficiary designations and disposition of proceeds; the law of agency; and advertising and privacy issues.
Fundamentals of Estate Planning HS 330
Covers various aspects of estate and gift tax planning, including the nature, valuation, transfer, administration and taxation of property. Provides a basic understanding of the estate and gift tax system, including strategies of estate planning. Discusses gratuitous transfers of property outright or with trusts, wills and powers of appointment; use of the marital deduction; valuation of assets; and buy-sell agreements. Covers the client interview, fact finding, ethical standards and development of personal estate plans.
Planning for Business Owners and Professionals HS 331
Focuses on tax and legal aspects of organizing a business; compensation planning for the business owner; business succession planning; buy-sell agreements; estate planning and estate freezing techniques; methods for transferring a family business; lifetime disposition of a business interest
Financial Planning: Process and Environment HS 300
Provides an overview of the financial planning process, including communication techniques, ethics, risk tolerance, time-value-of-money concepts, financial planning applications, regulatory issues and the legal and economic environment for financial planning. Offers an understanding of the role and responsibilities of a financial planner, along with some analytical skills to aid in financial decision making.
Individual Health Insurance HS 313
Provides an overview of individual health insurance that is designed to meet the needs of individuals, families and certain business situations. Covers medical expense insurance, disability income insurance and long-term care insurance. Discusses types of policies, contractual provisions, regulation and underwriting. Consumer-directed health plans are also covered.
Income Taxation HS 321
Examines the federal income tax system with particular reference to the taxation of individuals. Covers such concepts as gross income, exclusions from gross income, deductions, tax credits, capital gains and losses, taxation of life insurance and annuities and income taxation of partners, partnerships, corporations and shareholders.
Group Benefits HS 325
Analyzes group insurance benefits including the governmental environment, contract provisions, marketing, underwriting, rate making, plan design, cost containment and alternative funding methods. Covers the various private programs related to the economic problems of death, old age and disability. Discusses cafeteria plans, as well as consumer-directed health plans, such as HSAs and HRAs.
Planning for Retirement Needs HS 326
Focuses on selecting the right retirement plan for the business and on individual retirement planning. Covers qualified plans, SEPs, SIMPLEs and 403(b) plans and non-qualified deferred compensation plans. Emphasizes the practical knowledge needed for choosing the best retirement plan, especially for the small business, and designing a plan that will meet a client’s needs. Also covers individual retirement planning including IRAs and Roth IRAs, Social Security benefits, saving for retirement and planning for retirement plan distributions.
Investments HS 328
Covers various aspects of the principles of investments and their application to financial planning. Discusses risk analysis and risk and return computations. Looks at stocks, bonds, investment companies, options and futures contracts. Includes an extended discussion of tax issues in investing and issues in the practice of portfolio management, including strategic and tactical asset allocation. Provides many examples of ethical and practical issues in managing a client’s portfolio.
