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

	Gender
	Frequency	Per cent	Cumulative Per cent
1.0 (Male)	76	69.7	69.7
2.0 (Female)	33	30.3	100
Total	109	100
	Age category
	Frequency	Per cent	Cumulative Per cent
1.0 (<40)	55	50.5	50.5
2.0 ( 40=<x<50)	34	31.2	81.7
3.0 ( >50)	20	18.3	100
Total	109	100

Table 2.

Summary of the analysis done for age and gender

No	Hypotheses	The result of analyses
1	Gender * Success (Number of fails in CFP®)	The null hypothesis is rejected
2	Age category * Fail in CFP®	The null hypothesis is rejected
3	Gender * Number of exemption	The null hypothesis is accepted
4	Age category * Number of exemption	The null hypothesis is rejected
5	Gender * Mark	The null hypothesis is accepted
6	Age category * Mark	The null hypothesis is rejected

Table 3.

Results summary

	No. of Subject Exemptions					% who received maximum (3 exemptions)
Gender	0	1	2	3	Total	% who received maximum (3 exemptions)
Male	40	1	4	31	76	41%
Female	24	4	1	4	33	12%
Total	64	5	5	35	109	32%
			Chi-Square Tests
	Value		df	Asymp. Sig. (2-sided)		Exact Sig. (2-sided)
Pearson Chi-Square	13.578		3	0.004		0.003

Table 4.

	Mark achieved in CFP® Final Exam
Gender	P	CR	D or HD	Total	%P	%CR	% D or HD
Male	12	36	28	76	16%	47%	37%
Female	14	11	8	33	42%	33%	24%
Total	26	47	36	109	24%	43%	33%
	Chi-Square Tests
	Value	df	Asymp. Sig. (2-sided)	Exact Sig. (2-sided)
Pearson Chi-Square	9.000	2	0.011	0.012

Table 5.

Candidate Location

Postcode	Total	%
(NSW)	41	38%
(ACT)	1	1%
(VIC)	31	28%
(QLD)	11	10%
(SA)	7	6%
(WA)	16	15%
(TAS)	1	1%
(NT)	1	1%
Total	109	100%

Table 6.

Licensee

Licensee	Total	%
AMP	3	3%
ANZ	2	2%
CBA	2	2%
IPAC	2	2%
NAB	3	3%
WESTPAC	10	9%
Others	87	80%
Total	109	100%

Table 7.

Prior Education

	Frequency	Per cent	Cumulative Percent
Diploma	16	14.7	14.7
Advanced Diploma	18	16.5	31.2
Bachelors	38	34.9	66.1
Post Grad Diploma	25	22.9	89.0
Masters	12	11.0	100.0
Total	109	100.0

Table 8.

Education * Mark Cross-tabulation

Education		Mark in Final CFP Exam			Total
Education		<40	>40<50	>50	Total
Diploma	Count % within Mark	8 50.0%	4 25.0%	4 25.0%	16 100.0%
Adv Diploma	Count % within Mark	4 22.2%	8 44.4%	6 33.3%	18 100.0%
Bachelors	Count % within Mark	5 13.2%	18 47.4%	15 39.5%	38 100.0%
Post Grad Diploma	Count % within Mark	6 24.0%	13 52.0%	6 24.0%	25 100.0%
Masters	Count % within Mark	3 25.0%	4 33.3%	5 41.7%	12 100.0%
Total	Count	26	47	36	109

Table 9.

Education * Exemption Cross-tabulation

Education		No. of Subject Exemptions				Total
Education		0	1	2	3	Total
Diploma	Count % within Mark	13 81.3%	2 12.5%	0 0.0%	1 6.3%	16 100.0%
Adv Diploma	Count % within Mark	15 83.3%	0 0.0%	2 11.1%	1 5.6%	18 100.0%
Bachelors	Count % within Mark	28 73.7%	1 2.6%	3 7.9%	6 15.8%	38 100.0%
Post Grad Diploma	Count % within Mark	5 20.0%	0 0.0%	0 0.0%	20 80.0%	25 22.9%
Masters	Count % within Mark	3 25.0%	2 16.7%	0 0.0%	7 58.3%	12 100.0%
Total	Count	64	5	5	35	109

Table 10.

Final Examination Fail * Exemption Cross tabulation

Education	No. of Fails in Final Exam		No. of Subject Exemptions				Total
Education	No. of Fails in Final Exam		0	1	2	3	Total
Diploma	1.00	Count % within Exemption	9 75.0%	2 16.7%	0 0%	1 8.3%	12 100.0%
	2.00	Count % within Exemption	2 100.0%	0 0.0%	0 0%	0 0.0%	2 100.0%
	3.00	Count % within Exemption	2 100.0%	0 0.0%	0 0.0%	0 0.0%	2 100.0%
	Total	Count % within Exemption	13 81.3%	2 12.5%	0 0%	1 6.3%	16 100.0%
Adv Diploma	1.00	Count % within Exemption	10 76.9%	0 0	2 15.4%	1 7.7%	13 100.0%
	2.00	Count % within Exemption	4 100.0%	0 0%	0 0.0%	0 0.0%	4 100.0%
	3.00	Count % within Exemption	1 100.0%	0 0	0 0.0%	0 0.0%	1 100.0%
	Total	Count % within Exemption	15 83.3%	0 0	2 11.1%	1 5.6%	18 100.0%
Bachelors	1.00	Count % within Exemption	18 72.0%	0 0.0%	1 4.0%	6 24.0%	25 100.0%
	2.00	Count % within Exemption	6 75.0%	1 12.5%	1 12.5%	0 0.0%	8 100.0%
	3.00	Count % within Exemption	3 100.0%	0 0.0%	0 0.0%	0 0.0%	3 100.0%
	4.00	Count % within Exemption	1 50.0%	0 0.0%	1 50.0%	0 0.0%	2 100.0%
	Total	Count % within Exemption	28 73.7%	1 2.6%	3 7.9%	6 15.8%	38 100.0%
Post Grad Diploma	1.00	Count % within Exemption	3 15.0%	0 0	0 0	17 85.0%	20 100.0%
	2.00	Count % within Exemption	1 25.0%	0 0%	0 0%	3 75.0%	4 100.0%
	4.00	Count % within Exemption	1 100.0%	0 0%	0 0%	0 0.0%	1 100.0%
	Total	Count % within Exemption	5 20.0%	0 0%	0 0%	20 80.0%	25 100.0%
Masters	1.00	Count % within Exemption	1 14.3%	1 14.3%	0 0%	5 71.4%	7 100.0%
	2.00	Count % within Exemption	1 25.0%	1 25.0%	0 0%	2 50.0%	4 100.0%
	4.00	Count % within Exemption	1 100.0%	0 0.0%	0 0.0%	0 0.0%	1 100.0%
	Total	Count % within Exemption	3 25%	2 17%	0%	7 58%	12 100%

References

Authors

Metrics

Articles in this issue

DOI: https://doi.org/10.2478/fprj-2017-0002 | Journal eISSN: 2206-1355 | Journal ISSN: 2206-1347

Journal RSS Feed

Language: English

Page range: 26 - 47

Submitted on: Oct 17, 2016

Accepted on: Feb 20, 2017

Published on: Mar 18, 2024

Published by: Financial Advice Association of Australia

In partnership with: Paradigm Publishing Services

Publication frequency: 2 issues per year

Keywords:

Education,

Demographics,

Certification program,

CFP®

Related subjects:

Business and economics,

Political economics,

Economic theory, systems and structures,

Business management,

Business management, other,

Industries,

Banks, financial service provider, insurers

© 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.

Volume 3 (2017): Issue 1 (December 2017)

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

Figures & Tables

Figure 1.

Table 1.