My CFP® Exam Step-by-Step Preparation Plan
- Keturah Orji
- Aug 26
- 12 min read
Updated: Aug 27
I recently passed the Certified Financial Planner (CFP®) exam during the July 2025 cycle (YAY!). This was unlike any exam I’ve ever taken. The method I took to study for this exam was adjusted along the way and I wish I had read a blog post like this to help me feel more confident while studying. I am typically a great test taker, so I didn’t expect the mental toll this exam took. If you’re feeling overwhelmed, confused, or like you might fail, you’re not alone. I felt all of that, and I still passed on my first attempt. I hope this long but needed post helps guide and encourage you. I want to give you everything I wish someone told me. I'm going to break everything down for you into 5 phases just in case you are already on the journey and would like to just jump to where you are.
Before You Begin/Materials Needed
Exam Prep Provider: I used Danko’s Signature program, however I would recommend the upgrade to Signature Plus. My study partners had access to the additional video content, and based on their feedback, that alone would have made worth it. I considered upgrading several times. Danko also gives you access to a deck of notecards on the Brainscape app where you can slowly progress through hundreds of notecards organized by topic.
Other Materials: an excel sheet to track scores and to create study schedules, notecards, sticky notes, HP 10B calculator (or a calculator approved by the CFP Board)
Also, just an FYI: I was working part time while studying, which made managing my time a lot easier than it might be for someone balancing this process with a full-time job and children.
Study Phases
Phase 1: Pre-Live Review I (March 10 - May 20)
Emotion
At this point, I didn't feel confident in the material at all. I wish someone had told me that feeling lost and confused is normal. The amount of information will seem excessive, but you're not alone. There is hope. You can pass the exam.
Logistics
Study Hours per Week: 10 – 16
Overview: During this two-month phase, Danko instructs you to work through two textbooks and the quiz workbook. It comprises of 60 chapters and 6 exams: 6 sections each with 10 chapters and quizzes and a final exam for each section (see results to quizzes below). My daily routine included reading one chapter, highlighting key points as I read, completing 1 quiz, and reviewing results. I took Sundays off from textbook work to attend study groups. On exam days (after I had finished the 10 chapters in a section), I focused only on the exams, no reading. I also typed notes (which I never revisited but helped with retention), listened to Danko’s audio notecards, and used the Brainscape app to memorize content. These were all provided by Danko. I studied about 2 hours a day on average, with final exam days running closer to 2.5 hours.
Since the material begins with General Principles and Insurance, studying initially felt manageable. I still had free time, and passing the exam felt very doable. But as I got towards the final month, the content became more complex, and it took longer to get through each chapter especially in the last three sections, which had longer, denser material. That’s when the “valley of despair” hit. I started doubting whether I could pass the exam. I finally realized just how much material would be covered and how confusing it could all get.
Quiz results (average) and final exam scores
General Principles (GP) -- 79% quizzes, 74% Final Exam
Insurance (INS) -- 78% quizzes, 71% Final Exam
Investments (INV) -- 74% quizzes, 73% Final Exam
Tax (TAX) -- 75% quizzes, 66% Final Exam
Retirement (RET) -- 67% quizzes, 61% Final Exam
Estate (EST) -- 68% quizzes, 56% Final Exam 🙃
Tips
Use AI to build a study schedule (see below): enter the number of chapters, rest days, end goal date (in-person review), etc
Create a study tracker to log hours (Optional but helpful)
Do not circle your answers: Keep the textbook and quiz workbooks clean so you can re-do quizzes later with a fresh perspective, especially helpful for weaker sections. (This especially helped me in my weak sections that I revisited often)
Use sticky notes to cover answers: Since textbook answers come right after the question, cover them with sticky notes the day before you read the chapter. This keeps you honest and sharp.
Form a weekly study group: Find others using the same exam provider to review tricky sections together. Here is a reddit thread to a Discord group where I found 4 other Danko students to study with – we all passed together! 😀
Keep your study group small: 5 people maximum to allow for everyone to be able to ask questions and to maximize efficiency.
Prioritize handwritten notes: Keep it simple, don't rewrite the textbook, put it in your own words, draw pictures (it helps memory!). Make charts that help you connect the information.
Complete Danko's calculator quiz (available online): Tackle it after the Investments section.
Create flashcards for missed concepts
Phase 2: Pre-Live Review II (May 20 - June 15)
Emotion
During this time, my second review of the information and schedule felt less structured since there was no clear direction after finishing all the main assignments from the Danko program. As a result, my motivation started to decrease. It was a tough mental stretch, but I reminded myself that consistency would pay off.
Logistics
Study Hours per Week: 16 – 20
Overview: This phase is completely optional since Danko never stated that you should go through all the material again, but I think it's worth investing the time into because this is when my understanding of concepts started to come together, and my quiz scores were of course higher.
In the final 3 weeks before my in-person review, I decided to go through all the textbooks and quizzes AGAIN, but at a quicker pace with handwritten notes. I began circling answers directly in the book and focused on the sections with the highest exam weight, starting with Retirement (18%), then General Principles (15%), and so on , so that if I didn't finish my second review, I’d still have reviewed the most important sections. Here's the breakdown of the exam. However, I didn't retake the entire 6 final exams; I just revisited the questions I got wrong.
On top of this, Danko’s team started hosting Zoom calls to go through the sections (GP, INS, etc.) and releasing additional quizzes and cases for Signature and Signature Plus students so I began to join those Wednesday calls and complete the quiz and case when they were released.
Tips
Expect to forget earlier material if your pre-study phase is spread out, but no worries it will come back quickly once you review it again.
Keep progressing in Brainscape:
Use app daily
Listen to the audio notecards to keep information at the top of your mind.
Start Brainscape early, it’s worth it!
Print and review the Code of Ethics about twice a week starting now
Complete CFP Board Case Study ethics questions:
This document is 90 pages, aim to finish all. It is the application of the Code with real scenarios
Signature Quiz/Case Results
GP: 75% Quiz, 57% Case
INS: 55% Quiz, 56% Case
INV: 74% Quiz, 82% Case
Phase 3: In-Person Live Review (June 17 - June 20)
Emotion
I was on an emotional rollercoaster during this phase. There were some sections I was so confident in and other days that I again started to doubt being able to pass the exam. It was an extremely draining few days as I am not a person that sits down and studies for 8-10 hours.
Logistics
Study Hours: 3.5 days of 10 hour classroom sessions
Overview: I attended the in-person review in Philadelphia with Brett Danko. Let me tell you, 3.5 days of 10 hour studying blocks was miserable for me, but Danko’s storytelling clarified so many topics. There is a separate textbook for this phase with condensed information and more questions and quizzes. The most valuable thing I learned during this time is how to eliminate answers. Danko was able to show us several times that before you've even finished reading the question you can sometimes start to eliminate answers already. For example, if the question is asking about a business owner that wants to set up a retirement plan for employees that is flexible. You can go ahead and eliminate the 2 pension plan answer choices. Knowing what I know now I probably would have attended John Choi’s in person review, only because I favored his personality. They both teach the information so well so there is no wrong choice.
The pace of the review is extremely fast, so it becomes clear why the Danko team emphasizes finishing those textbooks before these sessions or else you will be lost. The information is not being taught, it is being reviewed.
Looking back, I am glad that my review was so close to the exam. I think it helped the information to be very fresh in my head.
Tips:
Remember, cover all the answer keys ahead of time
Avoid circling answers in the workbook as you review with Danko. You will use these same questions to study when you return home.
Capture quick tips: Be ready to write down notes from stories shared or other quick tips that are shared verbally and you may not remember
Track weak areas: Use sticky notes to mark sections you need to revisit more thoroughly.
Know your limits: Although Danko recommended, we start doing some of the LIVE review quizzes in the evenings, I knew myself well enough to know I needed to rest after those long days. I just gave my brain a complete break after those long sessions.
Phase 4: The Build Up (June 21 - July 5)
Emotion
I started to realize that all of Danko’s quizzes and exams were always separated by section and became nervous and worried that I wouldn't be able to score as well once all the topics were combined and that I would start confusing things or not know what to do for questions without the context of what topic it is. This was just fear of the unknown - trust that you are learning the information well.
Logistics
Study Hours per Week: 20+ hour study weeks!😩
Overview: Danko provides a general study schedule for your exam date, but it wasn't specific enough for me, so I created my own which is included at the end of this blog. He also recommends you customize it for yourself. I stopped watching the Danko team calls live and instead only watched the recording when it corresponded with the section I was studying. For example, if I wasn’t studying Retirement until Saturday, I would save the recorded video to be watched while I am completing the Retirement section rather than watching it live while studying the Tax section.
I really wanted quizzes that had everything intermingled, but luckily that ended up not being a problem. You won't start doing this until the final days which at the time I was very antsy about. I felt like I knew the information well enough and just wanted the question banks to be released to start seeing my application, but Danko does things the way he does for a reason, and it worked for me. If you truly learn and understand the information, questions won't be an issue.
As much as I wanted to avoid it, I did take the CFP Board’s free practice exam that you receive when you sign up for the exam. I took it about 1 week before the exam and the results are screenshotted below. It simulated the exam perfectly with the exact same features, so I do really recommend you do it. Also, almost all of Danko’s materials are written, so it is good practice to be on a computer and open tax tables and formulas virtually. This is also where I discovered the cases have a magnifying glass to be able to search them which is super helpful. My weaknesses on the practice exam didn't match what I thought my weaknesses were so that was confusing to me, but I just continued to study all the sections, especially my weak areas that had a larger weight on the exam.
Signature Quiz/Case Results
TAX: 85% Quiz, 73% Case
RET: 97% Quiz, 57%Case
EST: 80% Quiz, 71% Case
Board Practice Exam: weighted 75% (I had ChatGPT weight it for me using the percentage breakdown of the exam)
Phase 5: Final Week (July 6- July 13)
Emotion
At this point, the nerves start to kick in over time because the exam will be there soon, but I just focused on what I need to complete each day based on my study schedule. The study schedule helped calm my nerves and take my mind off the exam date quickly approaching. Continue doing what you have been doing, consistency works. I started to wish I had chosen an earlier exam day to be honest, but the timing was perfect.
Logistics
Study Hours/Week: 4+ hour study days!
Overview: Danko's 85-question quizzes are perfect prep for the exam because it took me about 2 - 2.5 hours just like the timing of the exam will. I only did one each day, but some of my study partners did two each day. I also completed about 1 online case each day with the 85-question quiz and finished all the rest of the online cases 2 days before my exam date. Be sure to complete all the cases and quizzes released because new information is taught. The last few days I rewatched all 6 Signature calls on 2x speed to get a quick refresher of all the information.
Results
Avg of 15 cases: 73%
Tips
Intentionally build rest into your study days. Sleep well, hydrate, exercise - these things do not accidentally happen, you have to plan.
Avoid Burnout: You don’t want to go into the exam drained. You want to feel fresh with a clear mind ready to perform better than any other practice exams or quiz you have completed. Rest allows your brain and body to do that.
THE EXAM (July 14)
Format (pictured below):
The exam is in 4 quarters. The first 2 quarters are 3 hours, lunch is 40 minutes, then the last two quarters are again three hours. The reason it isn't just considered two halves is because after the first quarter, you must submit all those answers and cannot go back into that section once you continue. There is an unscheduled break that is offered between quarter 1 and quarter two and again between quarter 3 and quarter 4, but you can take an unscheduled break whenever you want so I would recommend not using up your exam time on an unscheduled break unless necessary.
Software tutorial (a few minutes)
Section 1 (3 hours)
1a – 43 questions (Must submit answers to move on)
1b – 42 questions
Break (40 minutes)
Section 2 (3 hours)
2a – 43 questions (Must submit answers to move on)
2b – 42 questions
Survey (5 minutes)
Preliminary Results 😬
Overview
A few days before the exam, I drove to the location and walked around the building to be sure I knew where to go. On exam day, I arrived about 30 minutes early (7:30am) but still ended up starting a few minutes late due to a long check-in line.
I finished the first half with 10 minutes left so I went to the bathroom before submitting quarter two because as soon as I hit the submit button, the 40-minute lunch break timer immediately begins. This allowed me to not use up my lunch time using the bathroom.
Logistics
Arrival Time: 30 minutes early
1st Half Exam Strategy: Used final minutes to take bathroom break
Lunch break: Took a 20-minute lunch, did not study, and checked in early to avoid cutting into the second half’s 3-hour timer. This allowed my brain to rest and recover so that I could start the second half fresh and renewed.
Results: After the exam, a survey must be completed before seeing the results.
Tips
Use the Right-Click Feature: This allows you to eliminate answer choices by crossing them out. Once you narrow down your options, re-read the question and choose the best answer.
Don’t Overthink Questions: If two answers seem right, go back and read the question again to see if there's information that may help you eliminate what you can, pick the best choice, and move on. Trust your prep, either you know it, or you don’t.
Flag Difficult Questions: Answer the questions you know first and skip the difficult questions so you can come back and take your time.
Case Questions: Make sure you read through all the information provided, but don’t spend too much time dwelling on minor facts provided until you read the questions about the case.
Stick to Your First Answer: As you’ve heard thousands of times, unless you are confident do not change your original answer.
Receiving Results Post-Exam
Before seeing your result, you'll be prompted to complete a short survey. Expect some nerves, your heart will probably be beating out of your chest as you answer the questions, waiting to see your pass/fail notice in tiny font. In addition to the on-screen notification, you’ll receive an e-mail confirming your exam result.
Final Reflection
My exam date was Monday, July 14th. I decided to do the middle of the exam cycle because I attended the last in-person review (closest to the exam) so I wanted some extra time to study after Philly, BUT I didn't want to be the last person to take it or just be waiting around and anticipating the day. I also wanted a weekend right before my exam for studying. Some of my study group mentioned being glad they took it on the second day of the cycle, but that it was hard to squeeze all the required studying in with attending Philly so late. So consider going to an earlier in person review if you want to test the earlier days of the exam cycle.
The only thing I felt was missing from Danko’s program was a way to monitor your weaknesses. With question banks from other programs, the software will start to tell you what areas you're performing worse in and that would have been helpful for me.
Because the Board doesn’t tell you how you performed if you pass, I have no idea if I overstudied or not, but the way I see it is it’s better to put in all the hours now and only go through 1 review and 1 exam versus taking it lightly then having to pay for additional review programs and additional exams and put more study time in.
Total Study Time
330+ hours (doesn't include listening to podcasts/notecards)
7,600+ questions🥴
Here is a link to a study schedule template if you would like to use it. The first tab is the Pre-Live phase schedule and the second tab is a very customized schedule for after the in-person Live review.
I also have a short blog on my 4 key ingredients to passing the exam.
Good luck and feel free to comment any questions you may have! #KOtheCOMP
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