CFC Philippines study guide
CFC Philippines · Work through your exam, one topic at a time.
The Certified Financial Consultant (CFC) is a Philippine professional credential for practitioners who advise individuals and businesses on personal finance, investments, insurance, retirement, tax, and estate matters. Candidates typically come from banking, insurance, wealth advisory, accounting, and independent planning practices, and often pursue the CFC to signal a broad, client-facing planning competence rather than a narrow product or technical specialty. The CFC Philippines study guide has 9 sections and about 2,508 words.
01Financial Planning Process and Professional Standards
This domain tests whether you can run a disciplined, client-centered planning engagement and document it to professional standards. Expect questions on the six-step process, engagement scope, know-your-client, suitability, disclosure, and the boundary between advice and product sales.
301 words, about 2 min02Risk Management and Insurance Planning
This domain tests pure-risk identification and insurance solutions: life, health, disability, property, and liability. Expect questions on insurable interest, indemnity, policy limits, exclusions, beneficiary designation, and needs analysis under the Philippine Insurance Code.
311 words, about 2 min03Investment Planning and Asset Allocation
This domain tests portfolio construction for a client’s goals, horizon, risk capacity, liquidity, and tax position. Expect questions on asset classes, diversification, correlation, expected return, rebalancing, and the investment policy statement.
286 words, about 1 min04Retirement Planning and Employee Benefits
This domain tests how to project retirement needs and integrate Philippine social security, employer benefits, and voluntary savings. Expect questions on SSS/GSIS pensions, Pag-IBIG, PERA under RA 9505, replacement ratios, inflation, longevity, and withdrawal sequencing.
283 words, about 1 min05Tax Planning
This domain tests lawful tax efficiency across income, investments, business, and transfers under the NIRC as amended by the TRAIN Law (RA 10963). Expect questions on graduated income tax, the 8% option, VAT and percentage tax, final taxes, and timing of deductions.
283 words, about 1 min06Estate Planning and Wealth Transfer
This domain tests how property passes at death and how to reduce friction, taxes, and family conflict. Expect questions on wills, intestate succession, legitime, compulsory heirs, estate tax, donor’s tax, beneficiary designations, and ownership structures under the Civil Code and Family Code.
284 words, about 1 min07Personal Financial Management and Cash Flow Planning
This domain tests day-to-day financial control: budgeting, emergency reserves, debt, net worth, and goal funding. Expect questions on cash-flow statements, financial ratios, credit costs, and prioritizing competing goals.
261 words, about 1 min08Business and Corporate Financial Planning
This domain tests financial planning for business owners: entity choice, working capital, break-even, cash forecasting, owner compensation, risk transfer, and succession. Expect questions on the Revised Corporation Code (RA 11232), BIR compliance, and separating business and personal finances.
246 words, about 1 min09Ethics and Fiduciary Responsibility
This domain tests the conduct expected of a financial professional: loyalty, care, confidentiality, disclosure, suitability, and management of conflicts. Expect scenario questions on commissions, referrals, custody of client funds, guarantees, and documentation.
253 words, about 1 min