AFP facilitates the development of the FP&A exam following
generally accepted best practices for credentialing agencies and
The Standards for Educational and Psychological Testing. AFP
employs professional testing experts to assist in all aspects of
the exam development process to ensure psychometric soundness and
legal defensibility of the program. The success of the FP&A
credential is a function of active practitioner involvement.
Practicing FP&As are involved at every stage of the
The job analysis process provides a systematic procedure of
identifying and validating the performance domains of the financial
planning and analysis professional and the knowledge and skills
that are necessary to execute job responsibilities. Subject matter
expert practitioners develop a list of job tasks and
responsibilities, from which a survey is developed. The information
derived from the analysis provides the basis from which the
examination specifications are developed. More than 600 survey
respondents validate the job tasks and responsibilities and rank
the importance of each.
Using the job analysis results, a committee of volunteers with
extensive FP&A field experience develop the specifications
(number of exam question items per knowledge domain) for the
Download the PDF.
Under the guidance of test development professionals, groups of
subject matter expert practitioners write, edit and approve test
questions. These questions, each of which are referenced to
selected FP&A texts or approved by consensus of the exam development committee, are assembled into exam forms following
the test specifications blueprint. Exam forms are validated to
ensure they are fair and reliable and hold every candidate to the
same standard. A list of recommended references can be found here.