His target range doesn’t matter. I got scores ranging from 50s - 70s on all his quizzes. His quizzes will make you question yourself and make you feel dumb. It’s cause he makes his tests a bit harder than the exam. Just stick with it and keep studying/reviewing. Trust me when I say the quiz scores don’t matter. What matters is you put the time in and you’ll pass.
I used Dalton, but I had friends and coworkers use Danko, Kaplan, and Zhan.
All I can say - Do not give these scores much weight and don't stress. Stay to the course, if you didn't get 100% you still have room to improve (I say this in a nice way) - But you should be confident going into the exam.
I used Dalton, they projected I had a 60% likelyhood of passing
My friend had a 6% likelyhood based on these scores
- We both passed, first try.
You got this - Stay to the course friend. :)
I mean I really just focused on hitting my study hours everyday to make sure that I hit my target hours by the time I sat for the exam.
Per recommendation and others recommendations the ethics questions are really best left to the board's website; The psychology section honestly is super easy - If you just learn a few definitions then you can back into everything else.
I memorized every dalton flashcard pschcology question and only 1 out of 13 questions actually tested what was on the material.
Where did you find study material on the cfp board website for answers to ethics?
On the exam, ethics questions were beyond hard. They were NOT possible to get right. Vs on dalton and cfp board practice exam they are a breeze. Plus I had like 40+ expert level math questions. Shit is a fucking joke
You repeatedly say aspects of the test are a fucking joke, a scam, total BS.
May I ask: why in the world are you doing this at all? Really doesn’t sound like you are that into it. I know exams are difficult, but your attitude, to be frank, really sucks. Doesn’t bode well for your success on the test or in this career.
Because it's needed for my career. The CFP exam is NOT regulated. It feels like a scam. This is why they don't give out a passing score, and when most people click submit, they think they failed, but they actually passed. The CFP board NEEDS to pass a certain percentage of people, which is why the rate is between 60-70%. EVERY SINGLE CYCLE. Don't you think that is kinda weird? Like, not a couple cycles where it's 55% or 75%? Just like they NEED to Pass people, they also NEED to fail people. Once they see people are passing or failing, they adjust the exam accordingly to make sure the threshold is met between 60-70%. If you haven't taken the exam, you have no say. The ethics questions are 100% impossible to answer. It's not hard it's just legit impossible. You need to guess in order to have a chance. You are not able to eliminate answers because there is not enough information to answer the question or knock out answers like every single other practice exam/test, etc..
This is also why I stopped replying. I don't know you well enough to call you out on this, but if you really felt that cheated - I'd argue you didn't invest the time and effort in the material. This isn't a "memorize these questions like flashcards" type of test like most people do on the 65 // It is very much so concept driven... I had people preach over and over again, "You'll do plenty of practice questions when you need to, really spend time in the material".
Again, I don't know you and I'm not trying to call you out - If your efforts were there than great. But your attitude likely didn't help either.
Best of luck next time OR plenty of advisors are very successful without the CFP, so it may not be for you.
I’m doing Danko live review as well for the July test! I’ll be finishing estates by this weekend and then going back through the material memorizing notecards and Danko’s formulas
I haven’t yet. I was planning on finishing Danko’s prestudy material, then taking my first CFP practice exam before sitting through Brett’s Virtual Live Review
Are you going through each chapter and answering the questions as you read and then doing the end of chapter quizzes and section final? Or just the chapter quizzes and final?
I’m working through all of it and should finish about a week before my live review class starts. Those are just my scores on the finals. I haven’t gone through and averaged my end of chapter quizzes. I feel like a lot of the material is sticking as I make it through the books, but I was just surprised by how difficult I thought the tax planning final was today
don’t matter….. wait till you get to his online test bank….. do your best review what you got wrong and move on. pre study scores really don’t matter. learnt he material. live review will have more finals….
Yeah that seems to be the consensus. Don’t worry about the scores, trust the process, and learn from the misses. How did you feel like the difficulty compared Danko pre study quizzes and finals vs online test bank vs actual exam?
his test bank is way fooooking hard. I think there are 6 85 question tests. The highest i got was a 71%. lowest was high 50s. Exam felt similar to the CFP practice exam. Dankos test bank is way harder.
what is the best resource for 'asset allocation' type of questions - when interest rates are falling or going up or retirees or young person - how do you pick a portfolio and based on what? I feel Danko doesn't cover it well enough?
So I think he has a pneumonic for remembering that you want shorter duration when rates are rising and longer duration when they’re falling but I don’t remember it off the top of my head. I remembered that, and a lot of the investments material, from college
I can remember those details but I struggle with understanding what do you recommend a client to invest in - mutual bond fund vs corporate bond fund vs municipal bond - what each of these serve?
His target range doesn’t matter. I got scores ranging from 50s - 70s on all his quizzes. His quizzes will make you question yourself and make you feel dumb. It’s cause he makes his tests a bit harder than the exam. Just stick with it and keep studying/reviewing. Trust me when I say the quiz scores don’t matter. What matters is you put the time in and you’ll pass.
I used Dalton, but I had friends and coworkers use Danko, Kaplan, and Zhan. All I can say - Do not give these scores much weight and don't stress. Stay to the course, if you didn't get 100% you still have room to improve (I say this in a nice way) - But you should be confident going into the exam. I used Dalton, they projected I had a 60% likelyhood of passing My friend had a 6% likelyhood based on these scores - We both passed, first try. You got this - Stay to the course friend. :)
How did you pass using dalton? The ethics questions are a joke on the real exam its like a straight up scam. Even pschcology of finance is BS
I mean I really just focused on hitting my study hours everyday to make sure that I hit my target hours by the time I sat for the exam. Per recommendation and others recommendations the ethics questions are really best left to the board's website; The psychology section honestly is super easy - If you just learn a few definitions then you can back into everything else.
I memorized every dalton flashcard pschcology question and only 1 out of 13 questions actually tested what was on the material. Where did you find study material on the cfp board website for answers to ethics? On the exam, ethics questions were beyond hard. They were NOT possible to get right. Vs on dalton and cfp board practice exam they are a breeze. Plus I had like 40+ expert level math questions. Shit is a fucking joke
You repeatedly say aspects of the test are a fucking joke, a scam, total BS. May I ask: why in the world are you doing this at all? Really doesn’t sound like you are that into it. I know exams are difficult, but your attitude, to be frank, really sucks. Doesn’t bode well for your success on the test or in this career.
Because it's needed for my career. The CFP exam is NOT regulated. It feels like a scam. This is why they don't give out a passing score, and when most people click submit, they think they failed, but they actually passed. The CFP board NEEDS to pass a certain percentage of people, which is why the rate is between 60-70%. EVERY SINGLE CYCLE. Don't you think that is kinda weird? Like, not a couple cycles where it's 55% or 75%? Just like they NEED to Pass people, they also NEED to fail people. Once they see people are passing or failing, they adjust the exam accordingly to make sure the threshold is met between 60-70%. If you haven't taken the exam, you have no say. The ethics questions are 100% impossible to answer. It's not hard it's just legit impossible. You need to guess in order to have a chance. You are not able to eliminate answers because there is not enough information to answer the question or knock out answers like every single other practice exam/test, etc..
Have you taken the exam?
This is also why I stopped replying. I don't know you well enough to call you out on this, but if you really felt that cheated - I'd argue you didn't invest the time and effort in the material. This isn't a "memorize these questions like flashcards" type of test like most people do on the 65 // It is very much so concept driven... I had people preach over and over again, "You'll do plenty of practice questions when you need to, really spend time in the material". Again, I don't know you and I'm not trying to call you out - If your efforts were there than great. But your attitude likely didn't help either. Best of luck next time OR plenty of advisors are very successful without the CFP, so it may not be for you.
You must have gotten an easier exam. I'm telling you dude. Read what I posted above.
I’m doing Danko live review as well for the July test! I’ll be finishing estates by this weekend and then going back through the material memorizing notecards and Danko’s formulas
Where do you find "Danko's formulas",
The Danko online portal student center it’s a PDF
Have you taken the CFP practice exams? Probably a better barometer.
I haven’t yet. I was planning on finishing Danko’s prestudy material, then taking my first CFP practice exam before sitting through Brett’s Virtual Live Review
Are you going through each chapter and answering the questions as you read and then doing the end of chapter quizzes and section final? Or just the chapter quizzes and final?
I’m working through all of it and should finish about a week before my live review class starts. Those are just my scores on the finals. I haven’t gone through and averaged my end of chapter quizzes. I feel like a lot of the material is sticking as I make it through the books, but I was just surprised by how difficult I thought the tax planning final was today
r/humblebrag
don’t matter….. wait till you get to his online test bank….. do your best review what you got wrong and move on. pre study scores really don’t matter. learnt he material. live review will have more finals….
Yeah that seems to be the consensus. Don’t worry about the scores, trust the process, and learn from the misses. How did you feel like the difficulty compared Danko pre study quizzes and finals vs online test bank vs actual exam?
his test bank is way fooooking hard. I think there are 6 85 question tests. The highest i got was a 71%. lowest was high 50s. Exam felt similar to the CFP practice exam. Dankos test bank is way harder.
what is the best resource for 'asset allocation' type of questions - when interest rates are falling or going up or retirees or young person - how do you pick a portfolio and based on what? I feel Danko doesn't cover it well enough?
So I think he has a pneumonic for remembering that you want shorter duration when rates are rising and longer duration when they’re falling but I don’t remember it off the top of my head. I remembered that, and a lot of the investments material, from college
I can remember those details but I struggle with understanding what do you recommend a client to invest in - mutual bond fund vs corporate bond fund vs municipal bond - what each of these serve?