Frequently Asked Questions

Q1: Can I transfer courses to meet your requirements?

Students may transfer a maximum of two of the six required courses in the certificate program. Transferred courses must meet the following requirements:

• Courses must be from an accredited college or university or from another CFP Board-Registered Program.
• College courses must be offered at the upper division baccalaureate level or higher.
• Courses must cover substantially the same subject matter as the course for which it is substituted.
• The introductory (FPC 300: Principles of Financial Planning) and insurance (FPC 301: Insurance Planning) courses must have been completed within the past 10 years. The four others must have been completed within the past 5 years.
• Students must have earned at least a B- in the course to be transferred.

Students who wish to transfer a course should submit a transcript along with information about the course (such as a course outline or copies of exams).

Note that we do not waive courses based on passing state or SEC licensing exams or work experience. State license exams are at a far lower level than the work required in the certificate program and the CFP® Certification Examination. Prior work experience is too difficult to assess as to depth, breadth, and currency. The organized academic approach is preferable for the purpose of fulfilling the educational requirements that are based on coverage of specific topics.

Q2: What are the requirements to obtain CFP® certification?

You must complete a CFP Board-Registered Program. At Grand Valley, that means successfully completing our six required courses. You may then sign up to take the 10-hour CFP® Certification Examination. After you pass, you must meet the ethics standards and work experience requirements.

Beginning January 1, 2007, candidates for certification must have a bachelor’s degree, in any discipline, from a regionally-accredited U.S. college or university in order to obtain CFP® certification. The college degree requirement is a condition of initial certification; it is not a requirement to be eligible to take the CFP® Certification Examination and does not have to occur before sitting for the exam or fulfilling the work experience. Please refer to CFP Board's web site at www.CFP.net.

Q3: Can I be admitted into the program without a bachelor's degree?

Since a bachelor's degree will soon be required to sit for the CFP® Certiviation Examination (see Q2 above), we normally require a bachelor's degree for students entering our program. However, exceptions might be made on a case-by-case basis under circumstances such as:

• A student is working on a bachelor's degree but is not yet finished.
• A student only wants to take one class for CE credit and does not intend to complete the program.
• A student wants to complete all the courses to obtain the knowledge, but does not intend to take the CFP® Certification Examination.

All exceptions will be determined by Gregg Dimkoff, Director.

Q4: Where can I buy the required textbooks?

All required materials for our classes are carried in the bookstore located on the first floor of DeVos Center. We currently use two textbooks for each course – Please click here for textbook list. Some of the texts may be available from other sources. Instructors supplement the texts with their own notes and handouts.

You must also have a financial calculator, i.e., one that can calculate both IRR and NPV. Most students prefer the TI BA II PLUS or the HP 10B or 12C.

Q5: How large are the classes?

Enrollment varies, but generally you will be in a class with 15-30 students.

Q6: Do these courses qualify for continuing education credit requirements for Michigan insurance licensees?

Yes, our courses are registered with Michigan's Office of Financial and Insurance Services (OFIS), and we will report your hours for credit unless you sign a waiver. Note that as of February 1, 2006, the State requires all Michigan licensed agents and solicitors to earn 24 hours of State-approved education credit every two years, three of which need to be in ethics. Each of our courses provides 30 hours of continuing education credit.  Beginning with our Winter 2008 semester, FPC 300 has been approved by OFIS as meeting the ethics credit hour requirement.

If you do not wish to receive CE credits, you should submit a signed “Request for Waiver of Continuing Education Credits” form with each class registration, and you can subtract $30 from the tuition for each class.

Also note that, under State of Michigan continuing education rules, you cannot receive CE credits if you miss part of any class.

The state of Michigan no longer requires a breakdown for Life/Health or Property/Casualty. The 21 credits remaining after the 3 credit ethics requirement can be in whichever line of authority you choose.

Q7: How long does it take to complete all six courses in your certificate program?

Most of our students take one course per session (sessions begin in September, January, and April), and finish in two years. However there is flexibility, and the completion time can vary from one to four years depending on individual student needs.

Q8: Is it possible to take two classes at the same time?

Yes, and about 25% of our students do so. We stagger class dates so that each class meets every other Saturday.

Q9: What is the pass rate on the CFP® Certification Examination for students who have completed your certificate program?

Our certificate program was established in 1998. As of November 2005, 70 of our graduates had taken the exam. Our cumulative pass rate at that time was 77% (compared to the 75% national pass rate).

Q10: Who teaches your classes?

All classes are taught by either Seidman School of Business Finance Department faculty, or by professionally qualified adjunct faculty such as attorneys and certified public accountants.

Q11: How do I get more information about this CFP Board-Registered Program?

For more information about Grand Valley's program, contact Dr. Gregg Dimkoff at (616) 331-7428 or dimkoffg@gvsu.edu , or Jo Ann Shelton at (616) 331-7427 or boonshej@gvsu.edu.

You may also contact the CFP Board at http://cfp.net

Q12: Will I get a refund if I have to withdraw from a course?

The withdrawal deadline date for a full course refund is 5:00 p.m. on the Friday following the first class meeting. There will be no refunds after that date. Also note that application fees cannot be refunded. However, any course that you have paid for can be retaken tuition free.