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The Demographics that Predict Success in the Australian Certified Financial Planner (CFP®) Certification Program Cover

The Demographics that Predict Success in the Australian Certified Financial Planner (CFP®) Certification Program

Open Access
|Mar 2024

Figures & Tables

Figure 1.

Source: Financial Planning Association
Source: Financial Planning Association

Summary of the analysis done for age and gender

NoHypothesesThe result of analyses
1Gender * Success (Number of fails in CFP®)The null hypothesis is rejected
2Age category * Fail in CFP®The null hypothesis is rejected
3Gender * Number of exemptionThe null hypothesis is accepted
4Age category * Number of exemptionThe null hypothesis is rejected
5Gender * MarkThe null hypothesis is accepted
6Age category * MarkThe null hypothesis is rejected

Education * Mark Cross-tabulation

Education Mark in Final CFP ExamTotal
<40>40<50>50
DiplomaCount% within Mark850.0%425.0%425.0%16100.0%
Adv DiplomaCount% within Mark422.2%844.4%633.3%18100.0%
BachelorsCount% within Mark513.2%1847.4%1539.5%38100.0%
Post Grad DiplomaCount% within Mark624.0%1352.0%624.0%25100.0%
MastersCount% within Mark325.0%433.3%541.7%12100.0%
TotalCount264736109

Candidate Location

PostcodeTotal%
(NSW)4138%
(ACT)11%
(VIC)3128%
(QLD)1110%
(SA)76%
(WA)1615%
(TAS)11%
(NT)11%
Total109100%

j_fprj-2017-0002_tab_004

Mark achieved in CFP® Final Exam
GenderPCRD or HDTotal%P%CR% D or HD
Male1236287616%47%37%
Female141183342%33%24%
Total26473610924%43%33%
Chi-Square Tests
ValuedfAsymp. Sig. (2-sided)Exact Sig. (2-sided)
Pearson Chi-Square9.00020.0110.012

Education * Exemption Cross-tabulation

Education No. of Subject ExemptionsTotal
0123
DiplomaCount% within Mark1381.3%212.5%00.0%16.3%16100.0%
Adv DiplomaCount% within Mark1583.3%00.0%211.1%15.6%18100.0%
BachelorsCount% within Mark2873.7%12.6%37.9%615.8%38100.0%
Post Grad DiplomaCount% within Mark520.0%00.0%00.0%2080.0%2522.9%
MastersCount% within Mark325.0%216.7%00.0%758.3%12100.0%
TotalCount645535109

Final Examination Fail * Exemption Cross tabulation

EducationNo. of Fails in Final Exam No. of Subject ExemptionsTotal
0123
Diploma1.00Count% within Exemption975.0%216.7%00%18.3%12100.0%
2.00Count% within Exemption2100.0%00.0%00%00.0%2100.0%
3.00Count% within Exemption2100.0%00.0%00.0%00.0%2100.0%
TotalCount% within Exemption1381.3%212.5%00%16.3%16100.0%
Adv Diploma1.00Count% within Exemption1076.9%00215.4%17.7%13100.0%
2.00Count% within Exemption4100.0%00%00.0%00.0%4100.0%
3.00Count% within Exemption1100.0%0000.0%00.0%1100.0%
TotalCount% within Exemption1583.3%00211.1%15.6%18100.0%
Bachelors1.00Count% within Exemption1872.0%00.0%14.0%624.0%25100.0%
2.00Count% within Exemption675.0%112.5%112.5%00.0%8100.0%
3.00Count% within Exemption3100.0%00.0%00.0%00.0%3100.0%
4.00Count% within Exemption150.0%00.0%150.0%00.0%2100.0%
TotalCount% within Exemption2873.7%12.6%37.9%615.8%38100.0%
Post Grad Diploma1.00Count% within Exemption315.0%00001785.0%20100.0%
2.00Count% within Exemption125.0%00%00%375.0%4100.0%
4.00Count% within Exemption1100.0%00%00%00.0%1100.0%
TotalCount% within Exemption520.0%00%00%2080.0%25100.0%
Masters1.00Count% within Exemption114.3%114.3%00%571.4%7100.0%
2.00Count% within Exemption125.0%125.0%00%250.0%4100.0%
4.00Count% within Exemption1100.0%00.0%00.0%00.0%1100.0%
TotalCount% within Exemption325%217%0%758%12100%

Gender and Age

Gender
FrequencyPer centCumulative Per cent
1.0 (Male)7669.769.7
2.0 (Female)3330.3100
Total109100
Age category
FrequencyPer centCumulative Per cent
1.0 (<40)5550.550.5
2.0 ( 40=<x<50)3431.281.7
3.0 ( >50)2018.3100
Total109100

Results summary

No. of Subject Exemptions% who received maximum (3 exemptions)
Gender0123Total
Male4014317641%
Female244143312%
Total64553510932%
Chi-Square Tests
ValuedfAsymp. Sig. (2-sided)Exact Sig. (2-sided)
Pearson Chi-Square13.57830.0040.003

Licensee

LicenseeTotal%
AMP33%
ANZ22%
CBA22%
IPAC22%
NAB33%
WESTPAC109%
Others8780%
Total109100%

Prior Education

FrequencyPer centCumulative Percent
Diploma1614.714.7
Advanced Diploma1816.531.2
Bachelors3834.966.1
Post Grad Diploma2522.989.0
Masters1211.0100.0
Total109100.0
DOI: https://doi.org/10.2478/fprj-2017-0002 | Journal eISSN: 2206-1355 | Journal ISSN: 2206-1347
Language: English
Page range: 26 - 47
Submitted on: Oct 17, 2016
|
Accepted on: Feb 20, 2017
|
Published on: Mar 18, 2024
In partnership with: Paradigm Publishing Services
Publication frequency: 2 issues per year

© 2024 Sharon Taylor, Suzanne Wagland, Amanda Taylor, published by Financial Advice Association of Australia
This work is licensed under the Creative Commons Attribution 4.0 License.