In order to encourage financial practitioners to actively attend the CFP®/AFP proficiency tests and reduce the number of classroom hours, they can apply for an education waiver for the hours of educational training courses in the subject if they hold one of the following relevant certificates and degrees. (The exam of Basic Test on Financial Markets and Professional Ethics is referred to as “Financial Markets” in the following table.)

Module 1: Foundations of Financial Planning (40 hours)

Module 2: Risk Management & Insurance Planning

Module 3: Employee Benefits & Retirement Planning

Module 4:  Investment Planning

Module 5: Tax & Planning Estate

M1~M5 and AFP Exam

Note:

1. In the event that it has been over 5 years from the issuance date of a certificate or degree when applying for credit waiver or exemption, an applicant should submit a proof of current employment at a financial institution, such as the salesperson registration, proof of employment issued by the company, etc..
   
   *In accordance with the Financial Institution Merger Act,  financial institutions are defined as banking industry (including banks, credit cooperatives, credit departments of farmers’ associations, credit departments of fishermen’s associations, bills finance companies, credit card business institutions and postal savings and remittance bureaus), securities and futures industry (including securities firms, securities investment trust enterprises, securities investment consulting enterprises, securities finance enterprises, futures commission merchants, leverage transaction merchants, futures trust enterprises, managed futures enterprises and futures advisory enterprises), insurance industry (including insurance companies and insurance cooperatives) and trust industry, etc.
   
   
2.  An Applicant may accumulate his/her work experience in insurance or securities which last for more than 2 years.
   
   
3. For the combination of certifications accepted for M1 and M2 education exemption, if an applicant cannot provide the Financial Markets certificate or proof of more than 2 years of insurance-related work experience, he/she may be granted a “partial waive” of 28 hours of the subject. He/she should attend 12 hours of supplementary course for such subject to complete M1/M2.

For the application of an education waiver, please log in to the official website of FPAT, or go to “Download” for “Directions on Education Exemption Route.”.