AFP study plan

Map the Financial Planning domain into a checklist of subtopics and rate your confidence on each from 1-5

Define the six-step financial planning process and write each step from memory

List the components of a client balance sheet and cash flow statement and compute net worth from a sample set of numbers

Identify which client data categories (assets, liabilities, goals, risk tolerance) drive each planning recommendation

Compute time value of money problems (future value, present value, annuity) by hand and with a calculator for at least 15 scenarios

Explain how inflation and real vs nominal returns change a savings projection

Draft education-funding and retirement-savings projections for two hypothetical clients

Compare at least three savings vehicles by tax treatment and liquidity

Build a sample investment policy statement and justify each asset allocation choice against client risk tolerance

Explain risk-return tradeoffs, diversification, and rebalancing to a non-expert in plain language

Outline insurance needs analysis for life, disability, and property coverage

Summarize the main tax-planning levers (deductions, credits, timing, account placement) and where each applies

Review the mock plan against the six-step process and flag any missing step

List the core fiduciary duties and professional standards topics you must know and rate your confidence on each

Write out definitions for the key ethical concepts (fiduciary duty, conflicts of interest, disclosure, suitability) in your own words

Identify three realistic conflict-of-interest scenarios and describe the correct professional response for each

Apply the professional standards to at least 10 short scenario vignettes and justify each answer in one sentence

Distinguish between what must be disclosed, what must be avoided, and what is permitted in ambiguous client situations

Explain how compensation structures and referral arrangements create conflicts and how to manage them

Summarize confidentiality obligations and the exceptions that permit disclosure

Re-solve the vignettes you previously missed and explain what changed in your reasoning

Draft a personal decision checklist for ethics questions that forces you to identify the duty, the conflict, and the required action

Re-test the Financial Planning subtopics you rated lowest in week 1

Practice explaining two ethics scenarios aloud as if teaching them to a colleague

Take two timed mixed-domain practice sets and record accuracy per domain

Categorize every missed question by cause (knowledge gap, misread, calculation error, ethics judgment)

Re-study only the highest-frequency error categories and rewrite those concepts in your own words

Build a one-page formula and concept sheet you can review in under 10 minutes

Take two full-length timed practice exams under realistic conditions

Review only flagged weak areas and the one-page formula sheet, avoiding new material

Rehearse the ethics decision checklist on 10 fresh vignettes until the reasoning is automatic

Confirm logistics (test-day timing, allowed materials, rest plan) and write a final confidence assessment per domain