CeFA

Aegis

Well, I took and passed my first CeFA module today. I just wanted to thank everyone who contributes to this area for getting me interested in the subject of investments and financial advice, and also for pointing out my glaring errors when they arise. It's all good for the learning process!

Module 2, here I come!

The_Fiddler_2

Well Done

How long did it take you to do the module and did you do it by self study ?

Aegis

The_Fiddler wrote: »

Well Done

How long did it take you to do the module and did you do it by self study ?

Thanks

Self study, took me about a month, but only working a few hours a week, and the exam itself took a little under an hour. The material itself isn't too bad, but it's quite broad and didn't all coincide with my interests! Still, the next module DOES interest me quite a lot, so I'll see how long that takes me. I'm currently scheduled in for about 10 days from now, but I think that I need to do more work, so I'll defer it for a few weeks!

whackwhack

Aegis, What made you go down the CeFA route as opposed to the CFP? I ask as I am about to go down the CFP road.

Aegis

Two reasons really... Fewer modules and a slightly lower overall cost from what I could tell of the two systems. Other than that, it's pretty much down to personal preference!

Edit: the other thing to consider is that CFP is from the same guys that have the diploma and advanced certificate levels, which will soon be required for dispensing anything other than basic advice. However, the CeFA qualification will be sufficient to set out on the more advanced CII routes.

dunstonh

CeFA and CFP are little different. Personally I prefer the CII offerings (FPC/CFP) as you get used to the exam style when you go to diploma level.

When the FSA RDR changes come (and assuming they stick with the increased qualification requirements) then tied agent advice will not require extra exams. Although the product range they will be able to offer will effectively be downgraded to reflect the fact that they are salesmen and not advisers. IFAs will need to upgrade to get Diploma or equivalent. Although there is also talk of an ISO standard and no doubt there will be multiple companies offering that.

If you are going to be an adviser, then the CFP is probably the better option. If you are going to be a salesman then either is fine.

Brum_Man

Aegis wrote: »

Two reasons really... Fewer modules

Technically not as CFP 3 and 4 are only half modules so most people take them as one exam. CeFA just actually put them together, but it's still broken down in to the two units.

Having seen the material that people I work with have through for CeFA and what I got when I was doing CFP I would definitlely go down the CII route as the study material seems much better.

Aegis

Brum_Man wrote: »

Technically not as CFP 3 and 4 are only half modules so most people take them as one exam. CeFA just actually put them together, but it's still broken down in to the two units.

Having seen the material that people I work with have through for CeFA and what I got when I was doing CFP I would definitlely go down the CII route as the study material seems much better.

Ah well, I'll cope with what I've got I guess

GjrBartlett

Good Afternoon all,

I'm also currently studying for my CeFA module 1.
Has anyone any useful advice on the exam? (I'll hopefully be taking it in a few weeks!)
Are the questions similiar to the ones on the CDT?

If anyone has other good advice, hints or tips, please feel free to post.

Regards and Thanks in advance.

GjrBartlett

Aegis

GjrBartlett wrote: »

Good Afternoon all,

I'm also currently studying for my CeFA module 1.
Has anyone any useful advice on the exam? (I'll hopefully be taking it in a few weeks!)
Are the questions similiar to the ones on the CDT?

Some are, a lot aren't. Personally I regret buying the CDT and consider it to have been a bit of a waste of money given the number of questions that came up in my real exams that hadn't even been hinted at by the CDT.

Make sure you know your stuff a lot more than required to get a pass or merit on the CDT, because I went from getting distinctions with that to getting a pass and a merit pass in the real exams.

Aegis

Just Passed CeFA 2 today. I was much better prepared for this one, and got 87% total, so Merit Passes in both units. Just CeFA 3 and the synoptic exam to go now!