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AICPA established the Personal Financial Specialist PFS credential for CPAs who specialize in various areas of financial planning. In order to receive the credential, CPAs must pass the PFS Exam. A financial planning exam that covers all of the planning process that make up planning, including tax, retirement and insurance planning as well as a few niche areas like employee education, and elder planning.
PFS exam is a computer-based exam that lasts 5 hours, including a 30-minute break if needed.
There are a total of 160 questions per exam module. About half are discrete stand-alone multiple-choice questions and half are case studies with accompanying MCQs.
MCQs consists of a stem that includes factual or scenario data and provides four or five options.
The case studies will vary in length and include short scenarios followed by 2–5 multiple-choice questions and two larger comprehensive cases with 12–18 related multiple-choice questions.
First time exam registrants
$300 – PFP Section members
$400 – AICPA members
$500 – non-members
Re-take exam registrants $100
