Continuing Education Credit for an Online Course
Jordan, a CFP® professional, completed a 2-hour online course titled 'Advanced Estate Planning Strategies' offered by a non-approved provider. The course included a 10-question quiz, and Jordan passed with a score of 80%. The course was self-study and not pre-approved for CE credit by the CFP Board. Jordan also attended a 1-hour webinar on 'Ethics in Financial Planning' that was approved by the CFP Board for 1 hour of Ethics CE. Jordan needs to fulfill the 30-hour biennial CE requirement, including 2 hours of Ethics. Jordan's reporting cycle ends on December 31, 2024. Jordan claims both courses for CE credit.
1. Can Jordan claim the 2-hour online course for CE credit? Explain why or why not, and cite the relevant CFP Board CE requirement.
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No, Jordan cannot claim the 2-hour online course for CE credit. According to the CFP Board's Continuing Education requirements, courses must be pre-approved by the CFP Board or offered by a CFP Board Registered Program. The course described is from a non-approved provider and is not pre-approved, so it does not qualify for CE credit. Additionally, the course must cover one of the accepted topic areas and include an assessment, but the lack of pre-approval is disqualifying. Therefore, Jordan cannot count these 2 hours toward the 30-hour requirement.
2. Can Jordan claim the 1-hour ethics webinar for CE credit? If so, how many hours and in which category?
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Yes, Jordan can claim the 1-hour ethics webinar for CE credit. The webinar is approved by the CFP Board for 1 hour of Ethics CE. The CFP Board requires 2 hours of Ethics CE per biennial cycle, so this 1 hour counts toward that requirement. Jordan should report it as 1 hour of Ethics CE.
3. Assuming Jordan has no other CE credits, what is Jordan's total qualifying CE hours? What should Jordan do to meet the requirement before the December 31, 2024 deadline?
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Jordan's total qualifying CE hours are 1 hour (the ethics webinar). The online course does not count. To meet the 30-hour requirement, including 2 hours of Ethics, Jordan needs 29 more hours, of which at least 1 more hour must be Ethics. Jordan should seek out CFP Board-approved courses covering accepted topics and ensure they are pre-approved or from a Registered Program. Jordan must complete these before December 31, 2024, and retain certificates for audit purposes.