Education Exemptions for CIFP-Sponsored Professional Credentials
On a case-by-case basis and upon formal, written application to CIFP, individuals may be granted an education exemption in the curricula tied to the professional credentials sponsored by CIFP based on qualifying courses and programs completed at other education institutions such as Canadian colleges and universities as well as approved education providers operating within the financial services sector. CIFP may also grant an education exemption for individuals who hold certain industry designations in good standing.
CIFP assesses the external education of the learner for currency as well as against the required learning objectives of the CIFP curriculum to ensure academic standing is warranted. CIFP employs a fair, objective and impartial process to evaluate the validity of external education as it relates to the CIFP programs of study. As such, the judgement rendered by CIFP on an education exemption application is final.
For individuals who hold a recognized industry credential in good standing, the table summarizes the education exemptions they will receive for the three designations administered by the Canadian Institute of Financial Planning:
- Registered Retirement Analyst™ (RRA™)
- Registered Financial and Retirement Advisor® (RFRA/CR®)
- Registered Retirement Consultant® (RRC®)/Conseillers en Retraite® and Conseillères en Retraite® (CR®)
| Industry Designation |
Sponsoring Body |
Exemption Granted in CIFP Program of Study |
| RRA |
RFRA or RRC/CR |
| Qualified Associate Financial Planner™ (QAFP™) |
FP Canada |
full curriculum |
Part III: Financial Planning |
| Certified Financial Planner® (CFP®) |
full curriculum |
full curriculum |
| Trust and Estate Practitioner (TEP) |
Step Canada |
n/a |
Part II: Estate Planning |
| Certificate in Estate and Trust Administration (CETA) |
| Professional Financial Advisor™ |
The Institute for Advanced Financial Education |
full curriculum |
n/a |
| Chartered Life Underwriter (CLU®) |
full curriculum |
full curriculum |
| Personal Financial Planner (PFP®) |
Canadian Securities Institute |
full curriculum |
- Part III: Financial Planning (if individual has PFP designation only)
- Part I Retirement Planning and Part III: Financial Planning [if individual holds PFP designation and has completed the Lending, Retirement and Insurance Supplement (LRIS)]
- full curriculum: if individual holds PFP designation and has completed the Lending, Retirement and Insurance Supplement (LRIS) and Law, Estate and Tax Supplement (LETS)
|
Qualifying full credit courses and diploma/degree programs completed at Canadian colleges and universities will qualify for either a full or partial exemption in the RRC/CR, RFRA/CR or RRA programs of study. Given the number of different courses and diploma/degree programs on offer and the frequency with which they may be subject to change, applications for education exemptions are assessed on a case-by-case basis.
CIFP assesses the external education of the learner for currency as well as against the required learning objectives of the CIFP curriculum to ensure academic standing is warranted. Courses and diploma/degree programs must have been completed no longer than five years prior to the application for an education exemption to be considered current.
Individuals who hold the following professional designations in good standing may choose to challenge the final examination(s) directly for any of CIFP’s programs of study (i.e. they are exempt from completing the formal assessments that are ordinarily a mandatory component for each education program):
- planificateur financier (Pl. Fin.)
- bachelor of laws degree (LL.B.) or juris doctor (J.D.)
- Chartered Professional Accountant (CPA)
- Chartered Financial Analyst® (CFA®)
- Fellow, Canadian Institute of Actuaries (FCIA) or Fellow, Institut canadien des actuaires (FICA)
For the Registered Retirement Consultant /Conseillers en Retraite and Conseillères en Retraite and Registered Financial and Retirement Advisor programs of study, eligible individuals who choose to pursue an alternate education pathway must still satisfy the retirement plan requirement to successfully complete the program.
Individuals who have completed the program of study for the Registered Retirement Analyst designation are exempt from the core curriculum learning objectives contained in the RRC/CR or RFRA/CR should they wish to further their studies.