Exam Handbook V 2022

EXAMINATION
HANDBOOK
All information herein is correct at the time of printing. We reserve the right to make
amendments, changes, modifications, or alterations without notice. As such, there shall be no
liability in respect of the said amendments, changes, modifications, or alterations. (Updated 6
May 2022)
Financial Planning Association of Malaysia
The Financial Planning Association of Malaysia (FPAM) is a nonprofit

organization with a vision to establish financial planning as a recognized
profession through the promotion of excellence in financial planning for the
benefit of all Malaysians and a mission to establish the global CFP Mark as the
leading symbol of excellence for personal financial planning in Malaysia.
The CFPCERT TM certification marks identify what a financial planner is, establish
a standard of professional practice and create a 'mark of quality that consumers
can recognize and for which practitioners may aspire to attain.
The financial planner who uses this mark is recognized as having met the
highest standards for the practice of financial planning. The Financial Planning
Standards Board (FPSB) works to ensure that a well-defined six-step process
used by a financial planner will place the client's interests and needs first.
Today, there are more than 175,000 CFPCERT TM certificates in 26 countries and
the number is growing. The CFPCERT TM qualification is also recognized by the
Securities Commission and Bank Negara as a prerequisite for the application of
the Capital Markets Services License (CMSL) and Financial Adviser’s License
respectively.
The CFPCERT TM certification program revolves around the "4Es" - Education,

Examination, Experience, and Ethics - which are the cornerstones of the
profession.
The certification course consists of four (4) modules with minimum of 60 hours
of classroom-based lectures per module followed by examinations.
May 2022)
Examination
The certification examination is designed to assess the ability of candidates to

understand the theory learned and to apply it in an integrated format. This is
to ensure that members who are approved to use the CFPCERTTM marks are at
the appropriate level of competency required for practice.
The Certification Examination consists of four (4) modules. Each paper is

designed to test candidates' competence in specific major sections of the
examination syllabus. Candidates must pass all modules to satisfy the
examination requirement for certification.
Module 1- Foundation in Financial Planning AND Tax Planning

Module 2- Insurance Planning and Estate Planning
Module 3- Investment Planning and Retirement Planning
Module 4- Financial Plan Construction and Professional Responsibilities
Sequence of Examination
Candidates are required to attend 60 hours of lectures per module and ensure
that their membership is current before they are permitted to register for the
certification examinations.
Candidates are required to pass Module 1 and register as an Associate member

before they can attempt subsequent modules.
Candidates may attempt modules 2 to 3 in any sequence or number, as long

as they have passed Modules 1.
Candidates must have passed Modules 1 to 3 before they can register for
Module 4 examinations unless they are Challenge Status candidates.
Language of Examination
All examinations are conducted in English.
Duration and Format
Module 1 - 75 Objective Questions to be completed in 3 hours

Module 4 Paper 1 - 60 Objective Questions to be completed in 3 hours

Module 4 Paper 2 - Prepare a Financial Plan based on a case study to be
completed in 3 hours
May 2022)
Grading
Candidates are graded as either “Pass” or “Fail”.
No marks are revealed to the candidates.
Each of the exams is graded independently and the result of one module does
not affect another.
Re-sit and Time Limit
Candidates are only required to re-sit the module which they fail.
There is no limit on the maximum number of re-sit examinations that one

candidate can take for any one of the modules.
Syllabus
A detailed syllabus for the modules is available from FPAM’s website at

www.fpam.org.my
Update of Rules and Regulations
From time to time, there will be updates and changes to the laws governing
the financial industry.
Candidates taking the certification examination are expected to apply their

knowledge of current laws, rules, and requirements which, at the time of the
examination, have been published or released by the relevant authority for SIX
(6) months or longer. This refers to the date such laws, rules, and requirements
were released, not their effective date.
Information Provided in Examination Paper
A Tax Rate Table is provided for Modules 1 and 4 for reference.
Examination Schedule
The detailed schedule for each examination schedule is available on FPAM’s

website at www.fpam.org.my
May 2022)
Examination Registration Procedures
Application Form
Exam registration forms can be obtained from FPAM’s website at

www.fpam.org.my, FPAM’s office, and approved education providers.
Registration for examinations can also be done online. Please refer to FPAM’s
website at www.fpam.org.my for registration procedures.
Application Deadline
The application deadline for each examination is approximately FOUR (4)

weeks prior to the examination date. The exact deadline will be provided in
the examination application form.
Submission of Application Form
Completed applications with payment must be received by the printed deadline.

Application forms submitted after the deadline will not be accepted and
incomplete applications will not be processed. Late submission after the closing
date would be subjected to late registration of RM50.00.
FPAM will NOT be responsible for the loss of application forms and documents
sent by normal mail.
Candidates are advised to contact FPAM’s office if they do not receive their
receipt for exam registration fees THREE (3) weeks after submitting their
application.
Examination Fee
Candidates who are employees or agents of a charter member or corporate

member enjoy a discount on examination fees.
a) For employees / agents of Charter Members * RM 250.00

b) For employees / agents of Corporate Members RM 300.00
c) Members of the public RM 350.00
Candidates pay the same fee for all the modules.
*Not applicable to Charter Member’s subsidiary companies.
May 2022)
Payment Method
The examination fee must be submitted with the application form by Bank
Payment Statement, or Credit card information.
Refund/Withdrawals Policy
Examination fee is non-transferable.
No refund of any examination fee will be made for withdrawals.
Absence from the examination will result in a forfeiture of the entire

examination fee.
Medical or Other Emergencies
In case of medical or other emergencies, candidates may apply for a deferment

of the registration to the next session. No refund of fees will be given.
Deferment will be considered if the following conditions are met:
The request must be made in writing and supported by appropriate

documentation such as a physician's letter.
The request must be received one week before or after the examination.
Examination guide and official receipt
An examination guide and login details will be sent to applicants TWO (2)
weeks before the exam.
The official receipt can be sent via email to applicants upon request.
The receipt act as official proof of examination candidacy. It should be retained

as proof of exam registration.
Examination Results
Examination results are normally available within six (6) to eight (8) weeks
after the examination. The result notification letter will be sent to candidates
by mail.
The result is graded PASS or FAIL. In no instances will the marks be released.
Candidates who are unable to attend the examination will be regarded as
ABSENT.
To protect the privacy of candidates and to maintain the confidentiality of

examination results, no result information will be released over the telephone,
May 2022)
faxed nor will there be emailed.
Certificates
A certificate will be issued only to candidates who have passed all FOUR (4)
modules and have met all the requirements for certification. No certificate will
be issued to candidates who have only passed all FOUR (4) modules but have
not applied for an upgrade to Certified membership.
Certified membership application forms are sent along with the result
notification letter to candidates who have passed Module 4. Forms are also
available at FPAM’s office and from FPAM’s website at www.fpam.org.my
May 2022)
Loss or Damage to Certificates
Candidates who have lost or damaged their certificates may apply for a
duplicate by submitting a written request, which will be subject to an
administration fee of RM30.
EXAMINATION POLICY
Examination Misconduct
Candidates should carefully read the examination regulations in Appendix I

before attending the examination. Failure to observe any of these regulations
may lead to disqualification from the examination.
Incidences of reported cheating are serious offenses and will be investigated

by FPAM. If a candidate is found to have cheated and/or aided or abetted a
cheater or violated any other examination policy, the candidate will be
disqualified and he/she will be subject to disciplinary action taken by FPAM.
Depending on the seriousness of the violation, the candidate may be barred

from taking any certification examination permanently. FPAM reserves the right
to report the violation to the relevant authorities and professional bodies if
necessary.
Examination Marking
Select only one answer for each question.
A candidate's score is based on the number of questions answered correctly.

No points will be deducted for wrong answers.
Only correct answers will earn points. No partial marks will be given.
Pass Score
The pass marks for the examinations are determined after consultation with
the Board of Certification and Standards.
The pass marks may vary from examination to examination and are not
disclosed.
Re-Sit of Examination Policy
Candidates are only required to re-sit the paper they fail.
May 2022)
Enquiries on Examination
If a candidate has any queries after taking the examination, he can submit a
written enquiry to the examination department at FPAM.
If they believe that an examination question contains an error, they can write
in via email or mail within FIVE (5) days of the examination. The submission
will be acknowledged but candidates will not receive an individual response to
the submission.
If they have comments about examination administration, they can write in

via email or mail within FIFTEEN (15) days of the examination.
Examination Review
Candidates may submit an appeal to have their results checked if they suspect
that it was marked incorrectly.
Appeal forms are sent with the result notification letter to those who failed their
module. They must complete and submit the appeal form to FPAM within FOUR
(4) weeks from the date on the result notification letter together with an
RM100 processing fee.
Requests made after the THIRTY (30) days will not be accepted.
The result of the appeal will be available within FOUR (4)- SIX (6) weeks
after the request is received.
Please note that the report will only indicate if there is any change in result
status. Information on examination scores or grades is not provided in the
appeal letter
Reservation of Right to Cancel Examination
FPAM may decide to change the date, time, or conditions of the administration
of the examination or cancel the administration of the examination, either
entirely or of a particular paper, if FPAM in its sole discretion decides that any
such action is needed to protect the integrity of the Certification Examination,
or because the administration of the examination is hindered by any cause that
could not be reasonably prevented by FPAM, including fire, flood or other
natural disasters; a public enemy, a military authority or Malaysian
Government Movement Control Order.
May 2022)
Amendments
FPAM reserves the right to make changes to the examination regulations, the
examination syllabi, topic coverage, and any other information presented in
this examination handbook when necessary.
Examination Regulations
Misconduct
A candidate may be subject to disciplinary sanctions, including but not limited

to being disqualified from the examination and/or be permanently barred from
taking the certification examination if he or she:
● cheats or attempts to cheat in whatever manner

● improperly obtains knowledge of a question booklet prior to the
examination
● copies from notes, books, electronic or other devices not allowed, or
from the work of another person during the examination
● takes the examination on behalf of or in the name of another person
or allows another person to take the examination on his/her behalf
● communicates or attempts to communicate with any person during the
examination in any manner whatsoever
● copy any examination materials such as the questions or any pages
from it, answer sheets or any other examination materials including
examination questions in any form whatsoever
● reveals specific questions in the examination to parties not authorized
by FPAM to receive such information
● possesses any non-allowable items during the examination
● does anything which causes unnecessary distraction to other
candidates or disruption to the examination
● fails to follow the General Rules or the instructions during the
examination
General Rules
Only candidates with valid proof of identity, namely, i) an identity card by the
government (or a valid passport) will be admitted to the exam.
Only Allowable Items (see "List of Allowable Items") are allowed during the
exam.
Calculators must be on the list of calculators approved by FPAM (see "List of

Authorized Calculators").
Possession of and/or the use of unauthorized items is a violation of FPAM's

Examination Regulations and will result in disciplinary actions including
May 2022)
disqualification and being barred from taking the CFP Certification Examination.
To protect the integrity of examination questions, candidates are prohibited at

all times from revealing the detailed content of examination questions to avoid
misrepresentation to parties not involved in the examination. FPAM reserves
the right to take appropriate action against persons who infringe the copyright
and/or other intellectual property rights in the examination questions, such
actions include but are not limited to being barred from taking the examination,
or any other appropriate civil and/or criminal legal action.
Candidates are recommended to report to FPAM if they are requested by any

unauthorized parties to reveal specific examination questions (as opposed to a
general impression of the examination).
May 2022)
Approved calculators for the Certification Examinations
Please note that the use of calculators is restricted to non-alpha programmable

models only. The use of smartwatches is not permitted during the examination.
The list of approved calculator models is as follows:
1. Casio FC 100
2. Casio FC 100V
3. Casio FC 200V
4. Hewlett Packard hp 10b
5. Hewlett Packard hp 10b2
6. Hewlett Packard hp 10b2+
7. Hewlett Packard hp 12c
8. Hewlett Packard hp 12c platinum
9. Hewlett Packard hp 17b2+
10. Texas Instrument BA2+
11. Sharp EL735
12. Sharp EL733A
13. Sharp EL73
14. Sharp EL738_OM
Remarks: Candidates are NOT allowed to use mobile phones or smartwatches

during the online examination.
May 2022)
Non-Discrimination Policy
FPAM is committed to promoting a fair and equitable environment that is free

from discrimination and/or harassment in line with its obligations under
Malaysian laws. FPAM does not discriminate in certification opportunities or
activities on the basis of race, color, religion, gender, national origin, age,
disability, or any other characteristic protected by law.
Any candidate who meets the pre-requisites for entry to the CFP certification
program will be accepted into the program.
May 2022)
Special Needs/Accommodations Policy
This policy ensures that candidates with disabilities (special needs) are able to
access and participate in the CFP certification program without experiencing
discrimination. The definition of disability is very broad and includes people who
have a physical, learning, sensory, psychiatric, or medical condition. A disability
can be permanent or temporary.
Candidates may request assistance if they have a disability or other need that
may affect their ability to write the examinations of the CFP certification
program under standard conditions.
Candidates must notify FPAM by:

1. Completion of the appropriate section of the enrolment form, and
2. Written request to FPAM.
The written request must include all of the following information:

1. Nature of the disability;
2. Recent (within 5 years) supporting medical documentation regarding the
disability;
3. Details of the specific assistance required; and
4. Details of any specific assistance previously granted.
The written request including all supporting documentation must be received

by FPAM no later than 1 month prior to the examination date. The supporting
documentation must be provided by an appropriate professional and should
include: information on your condition, how your ability to complete an
examination under standard conditions may be affected, and whether your
condition is permanent, temporary or ongoing.
Candidates who have a learning disability must provide a valid report from a
psychologist or other qualified professional trained in administering
standardized tests and assessing learning disabilities.
FPAM will make reasonable accommodations candidates requesting special

accommodations. In providing the special accommodations, FPAM will ensure
that the integrity of the CFP certification program and assessment requirements
and processes are maintained.
May 2022)
Confidentiality Policy
The results of all candidates who remain unsuccessful shall be kept confidential
in the custody of FPAM. The documents submitted by the candidates at the
examination are the property of FPAM, are kept confidential in the custody of
FPAM, and are not subject to any public scrutiny. The same is to preserve the
confidentiality of candidate-specific information. These are also used for useful
information to strengthen our examination system and cross-check the relevant
information in case of the review or appeals received post-examination.
Policy on the Release of CFP Certificant Information
FPAM, either through telephone, e-mail responses, or through its website, may
provide any of the following information:
o Whether the person(s) has ever been certified by FPAM, the date of that
certification, and, if not currently certified, the date on which certification
lapsed or was otherwise terminated.
o Whether the person(s) has indicated he/she is in the practice of financial
planning.
o Any past and/or current public disciplinary actions against the person(s) by
FPAM.
o The business name, address, and phone number of the person(s).
o The renewal date for the person(s) current CFP CERT TM certification.
From time to time, FPAM may provide this same information in the form of a
list to education providers, industry organizations, associations, or businesses
related to the financial planning industry as FPAM deems appropriate. A fee
may be charged for the list and may be used one-time only. Certificants may
opt out of being included on these lists by e-mailing notification to FPAM.
FPAM may provide information other than that listed above, including but not
limited to government and self-regulatory organizations, to allow for the proper
identification of the person(s) associated with the requesting agency.
FPAM reserves the right to deny any requests for information.
FPAM may release information on the rare occasions when we are required to
do so by law, are involved in a lawsuit, or in order to enforce the terms of use
conditions.
May 2022)
Privacy Statement
FPAM is bound by and committed to supporting Malaysian laws and regulations.

The aim of FPAM is both to support and to ensure that it complies with the laws
introduced to strengthen privacy protections for the general public. This
Statement addresses any potential concerns you may have about the purposes
for which personal information you provide to FPAM is collected and to whom
this information will be disclosed.
Collection of personal information
The purpose of collecting this information from you is to determine your

eligibility for the CFP certification offered by FPAM and to enable FPAM to
assess, approve or refuse your application and ability to become certified.
Failure to provide full and complete information may result in a limited ability
or willingness on the part of FPAM to assess or approve your application for
certification.
Use and disclosure of personal information
If your application is accepted, the information that you provide will be used by
FPAM to offer and provide services to you and other members of FPAM.
FPAM may also use the information you provide for administrative, planning
and reporting purposes in connection with the provision of services offered by
FPAM and the compilation or analysis of statistics relevant to the financial
planning industry and the education requirements of financial planning
professionals. We may also publish results on the Internet.
In addition to universities and other educational service providers that are

affiliated with or support the provision of educational services offered by FPAM,
FPAM may disclose information that is collected or otherwise obtained from you
to
• governmental agencies
• those who maintain and update our database
• those who assist with mail-outs
• those who deliver educational and other services to FPAM members
FPAM will not otherwise, without your consent, use or disclose your personal
information for any purpose unless it would reasonably be expected that such
purpose is related to the offer, provision and improvement of FPAM services
and benefits to you or where such purpose is permitted or required by law. In
accordance with the Malaysian local spam laws, should you wish to unsubscribe
from commercial electronic messages from FPAM, all future commercial
electronic messages from FPAM will enable you to unsubscribe from that
particular type of electronic message from FPAM and this can be done at any
time. If you do not unsubscribe, FPAM will continue to send you relevant
May 2022)
information of the types described above. FPAM may also use messaging
methods other than email.
Access to personal information
A more detailed outline of the policies of FPAM with respect to the management
of personal information, in general, can be found in FPAM Statement of Privacy
Policy at www.fpam.org.my. Subject to FPAM’s policy as outlined in FPAM’s
exam handbook (which, in order to maintain the integrity of examinations and
assessment, prohibits access to examination materials including answer sheets
and exam question booklets), you may at any time request access to the
personal information that is collected or otherwise held or acquired by FPAM in
relation to you, by contacting 03-79549500 or email to exam@fpam.org.my .
Consent to the collection, use and disclosure
By signing the Application, I consent to the collection, use, and disclosure of

any information provided in the Application in accordance with and for the
purposes outlined in this Privacy Statement. I acknowledge that in providing
this consent, I have read and fully understood the matters outlined in this
Privacy Statement and the implications of consenting to the proposed
collection, use and disclosure.
May 2022)
Appendix I
General Rules for Examination
1. Only candidates with valid proof of identity will be admitted to the

examination.
2. Only allowable items are permitted for the examination.
3. Calculators must be on the list of calculators approved by the
organization. Candidates must clear all memory from their calculators
prior to the examination.
4. Candidates must read and understand the examination regulations
before the examination.
5. Candidates must read and understand the organization’s examination-
related policies before the examination.
May 2022)
Grounds for Discipline
A candidate should be subject to disciplinary sanctions if he or she:
1. Is found cheating in whatever manner;

2. Takes the examination on behalf of, or in the name of, another person
or allows another person to take the examination on his/her behalf;
3. Communicates or attempts to communicate with any person during the
examination;
4. Takes away, or attempts to take away from the examination, any
examination materials;
5. Reveals specific questions in the examination to parties not authorized
by the organization to receive such information;
6. Possesses any items not allowed during the examination;
7. Does anything that causes unnecessary distraction to other candidates
or disruption to the examination; or
8. Fails to follow general rules or instructions.
Disciplinary action may include, but is not limited to, being disqualified from
the examination and/or be permanently barred from taking the CFP
examination.
May 2022)

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EXAMINATION

The Financial Planning Association of Malaysia (FPAM) is a nonprofit

The CFPCERT TM certification program revolves around the "4Es" - Education,

The certification examination is designed to assess the ability of candidates to

The Certification Examination consists of four (4) modules. Each paper is

Module 1- Foundation in Financial Planning AND Tax Planning

Candidates are required to pass Module 1 and register as an Associate member

Candidates may attempt modules 2 to 3 in any sequence or number, as long

All examinations are conducted in English.

Duration and Format

Module 1 - 75 Objective Questions to be completed in 3 hours

Module 4 Paper 1 - 60 Objective Questions to be completed in 3 hours

Candidates are graded as either “Pass” or “Fail”.

No marks are revealed to the candidates.

Re-sit and Time Limit

There is no limit on the maximum number of re-sit examinations that one

A detailed syllabus for the modules is available from FPAM’s website at

Update of Rules and Regulations

Candidates taking the certification examination are expected to apply their

Information Provided in Examination Paper

A Tax Rate Table is provided for Modules 1 and 4 for reference.

The detailed schedule for each examination schedule is available on FPAM’s

Exam registration forms can be obtained from FPAM’s website at

The application deadline for each examination is approximately FOUR (4)

Submission of Application Form

Completed applications with payment must be received by the printed deadline.

Candidates who are employees or agents of a charter member or corporate

a) For employees / agents of Charter Members * RM 250.00

Candidates pay the same fee for all the modules.

*Not applicable to Charter Member’s subsidiary companies.

Examination fee is non-transferable.

No refund of any examination fee will be made for withdrawals.

Absence from the examination will result in a forfeiture of the entire

Medical or Other Emergencies

In case of medical or other emergencies, candidates may apply for a deferment

Deferment will be considered if the following conditions are met:

The request must be made in writing and supported by appropriate

Examination guide and official receipt

The receipt act as official proof of examination candidacy. It should be retained

To protect the privacy of candidates and to maintain the confidentiality of

Candidates should carefully read the examination regulations in Appendix I

Incidences of reported cheating are serious offenses and will be investigated

Depending on the seriousness of the violation, the candidate may be barred

Select only one answer for each question.

A candidate's score is based on the number of questions answered correctly.

Re-Sit of Examination Policy

Candidates are only required to re-sit the paper they fail.

If they have comments about examination administration, they can write in

Reservation of Right to Cancel Examination

A candidate may be subject to disciplinary sanctions, including but not limited

● cheats or attempts to cheat in whatever manner

Calculators must be on the list of calculators approved by FPAM (see "List of

Possession of and/or the use of unauthorized items is a violation of FPAM's

To protect the integrity of examination questions, candidates are prohibited at

Candidates are recommended to report to FPAM if they are requested by any

Please note that the use of calculators is restricted to non-alpha programmable

The list of approved calculator models is as follows:

4. Hewlett Packard hp 10b

5. Hewlett Packard hp 10b2