CFP Module 4 study plan

Build a one-page map of the financial planning process (engagement, data gathering, analysis, recommendation, implementation, monitoring) and label where each other domain feeds in

Draft a personal formula sheet for time value of money: present/future value of a lump sum, ordinary annuity, annuity due, and uneven cash flows, with one worked example each

Identify the five largest gaps in your current knowledge of the planning process and rank them by exam weight

Set up a spaced-repetition deck and load the first 40 cards covering the planning process and TVM conventions

Compute after-tax cost of life insurance options (term vs. whole vs. universal) for a sample client and compare 20-year outlays

Explain the underwriting and risk-classification factors that change premiums, and apply them to three hypothetical clients

Distinguish the main disability income policy provisions (own-occupation vs. any-occupation, elimination period, benefit period, residual benefits) with a comparison table

Solve 25 practice items on insurance policy structure and riders, logging every miss with the reason

Diagram the estate planning tools ladder: wills, intestacy, probate, trusts, powers of attorney, beneficiary designations

Calculate federal estate tax exposure for a sample estate using current exemption and portability rules, stating assumptions explicitly

Compare the tax and control consequences of outright gifts, irrevocable trusts, and joint ownership

Write a 10-question self-quiz on estate tools and score it without notes

Integrate risk management and estate planning into a single sample client plan, tying each recommendation to a stated goal

Practice writing recommendation language that names the tool, the tax consequence, and the monitoring trigger

Review all week 1-3 error logs and re-solve every missed item cold

Build a checklist for spotting conflicts between beneficiary designations and a will

Compute risk and return measures: holding period return, arithmetic vs. geometric mean, standard deviation, covariance, beta, and Sharpe ratio, on a small data set

Apply portfolio theory to build two efficient portfolios and justify the choice given a stated risk tolerance

Classify asset classes and their typical risk/return roles, including alternatives and real assets

Solve 30 practice items on portfolio theory and asset allocation, tagging each by concept

Compare equity and fixed income valuation approaches, including duration, convexity, and yield measures, with worked examples

Evaluate the tax efficiency of asset location across taxable, tax-deferred, and tax-free accounts for a sample allocation

Analyze the cost and tax impact of a rebalancing decision, including capital gains and wash sale rules

Draft an investment policy statement for a sample client with objectives, constraints, and review triggers

Compute retirement needs using the annuity, capital preservation, and purchasing power approaches, and compare the results

Analyze Social Security claiming strategies for a two-earner couple, quantifying the break-even ages

Evaluate the tax treatment of distributions from qualified plans, IRAs, and Roth accounts, including required minimum distributions

Compare retirement income vehicles (annuities, systematic withdrawals, bucket strategy) on cost, liquidity, and longevity protection

Take a timed 100-item mixed mock exam under exam conditions and score it by domain

Re-solve every missed item and write the rule or concept that would have prevented each miss

Review the full spaced-repetition deck and retire cards you can answer instantly

Write a final one-page summary of the 15 concepts you are most likely to forget