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Plan Financial Consulting-1 (PFC-1)
Click Here to Access Exams and Quizzes
*Upon registering for a PFC-1 examination, you will receive a downloadable PDF version of that exam in your confirmation email in addition on the instructions page once you access the online examination.
2012 PFC-1 Syllabus
Plan Financial Consulting Certificate Program
Course Overview
Examination Details
Required and Supplementary Reading
Exam Waivers and Grandfathering Rules
Required Reading and Supplementary Study Material References & Errata
Earn College Credit for ASPPA Examinations
2012 QPFC Education Requirement Changes
Plan Financial Consulting Certificate Program
ASPPA has designed the Plan Financial Consultant certificate program to meet the needs of retirement plan professionals who want to specialize as financial consultants. The PFC certificate program provides the framework for a candidate to achieve core competency on the administrative and consulting issues commonly encountered by financial consultants who service the retirement plans market. Successful completion of the certificate program also counts toward the requirements for the Qualified Plan Financial Conultant (QPFC) credential. The PFC-1 exam is administered online in open book multiple choice format. Upon successful completion of the PFC-1 exam, ASPPA will automatically issue the Plan Financial Consultant certificate.
Course Overview
The focus of the Plan Financial Consulting -1 (PFC-1) course is the administrative and consulting issues commonly encountered by financial consultants who service the retirement plans market.
The subject matter of PFC-1:
- Focuses on the administrative and consulting issues commonly encountered by financial consultants who service the retirement plans market.
- Covers all types of defined contribution and defined benefit plans including nonqualified SERPs, cash balance plans, ESOPs and also the Roth 401(k).
- Discusses plan design issues such as eligibility, vesting, nondiscrimination testing, plan documents, top-heavy and the deductibility of contributions.
- Examines the role played by the type of business sponsoring the plan, controlled group issues and the impact that leased employees, independent contractors and Professional Employer Organizations (PEOs) have on qualified plans.
- Addresses the ethical responsibilities of the financial consultant.
It is presumed that a candidate sitting for the PFC-1 examination will have the knowledge of material covered in the Retirement Plan Fundamentals (RPF) series. Please refer to the PFC-1 syllabus for specific learning objectives, exam topic weightings, etc.
Exam Details
Please note: One significant change for the QPFC examination requirements in 2012 includes the PFC-1 examination shifting from a proctored examination to an expanded online, open-book examination (please review all QPFC program changes here).
The PFC-1 exam consists of 85 multiple choice and true/false questions. Upon completion of the PFC-1 exam, you will receive an immediate score and feedback report. A score of 73 or more out of 85 is a passing score on the 2012 PFC-1 examination.
To register, a candidate must have an account with ASPPA, to create an account please click here. Candidates can register online or download the registration form and send via mail or fax to 703.516.9308.
Once registered for the PFC-1 examination, you can access your exam from the Access Exams and Quizzes link on the right side of this page. You may complete a portion of the exam, save it, and return to the exam at another time to complete it. The 2012 PFC-1 exam must be submitted online by December 13, 2012, midnight, Eastern Time, (11pm Central, 10pm Mountain, 9pm Pacific).
Exam Fees - The non-refundable registration fee for the PFC-1 exam is $195.
Estimated hours needed to study - Study time depends greatly on the experience level of the student. The average candidate reports it takes 40-60 hours study time per examination.
Required and Supplementary Reading
All study materials can be ordered by using the online ASPPA Bookstore or downloading the Publications Order Form and following the instructions to phone, fax or mail your order form and payment.
The required reading for the 2012 PFC-1 exam is:
- Retirement Plan Consulting for Financial Professionals, 4th Edition
. Arlington, VA: ASPPA, 2012 by Sarah E. Simoneaux, CPC: $250 list price and a member discount price of $225. [Order online or download the publications order form.]
Recommended Reading:
Supplementary Study Tools
The study tools below are not required preparation for the PFC-1 examination. They are offered as additional study aids.
- 2012 PFC-1 Practice Exam – available for $45, in an online format mimicking the actual exam. Coming July 2012.
It is the candidate’s responsibility to review all of ASPPA’s exam policies and procedures which can be found on Candidate Corner.
Required Reading and Supplementary Study Material References & Errata
For updates to ASPPA’s publications and examinations please click here. Stop by regularly as new updates are posted. It is recommended that the candidate check the errata before preparing for and sitting for an ASPPA examination.
Earn College Credit for ASPPA Examinations
The American Council on Education’s College Credit Recommendation Service (ACE CREDIT) has evaluated and recommended college credit for most ASPPA’s examination programs. Candidates may be able to receive college credit for successful completion of most ASPPA examinations (includes current and previous (no longer offered) examinations. For more information such as which exams credit is awarded, how to obtain credit, etc. please click here.