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Apr 24, 2024
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2012-13 Catalog [ARCHIVED CATALOG]
Personal Financial Planning Certificate
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 Return to: Certificate Programs
Program Design
The Personal Financial Planning certificate program is designed for anyone employed in the insurance and financial services industry, people who wish to change careers or increase their personal understanding of financial planning, and for undergraduate student who plan to enter the insurance and financial services industry and who would like to get a head start. Passing the six courses in this certificate program qualifies students to sit for the Certified Financial Planning (CFP®) Board of Standard’s qualifying examination. Students enrolled in this program should have foundational knowledge about accounting and business gained through on-the-job training or through college instruction.
Students in this program are likely to be:
- Insurance and/or financial services industry professionals and employees who seek to update and strengthen their knowledge and who want to take the CFP® Board’s exam.
- Mature individuals seeking a career change.
- Adult learners returning to the labor force who would like to join the insurance and financial services industry.
- Undergraduate students who intend to enter the field, want the CFP® professional designation, and who will complete their undergraduate degree within three years of passing the Board’s qualifying examination.
- Anyone who wishes to enhance his/her personal knowledge of financial planning in a more rigorous academic setting beyond the basic, introductory level.
To be eligible to sit for the qualifying exam, a person must pass an accredited program, such as this one, and pay a testing fee to the Board upon application for the exam. Once the exam is passed, you must have a bachelor’s degree within three years and three years of work experience in a financial planning firm (or industry-related capacity) to have the CFP® professional designation confirmed. Further information is available on the Board’s web site: www.cfp.net .
Curriculum
The program may be completed in as few as three semesters; some students take only one per semester if they have a heavy work schedule. Courses are offered each fall and spring semester, once a week for 15 weeks. The courses are very rigorous, and to earn the certificate, students must complete each course with a grade of C or higher. To enter the program, all students must first apply for admission to MCC although they do not have to take placement or assessment tests if they already have a college degree or have taken and passed certain courses at another accredited college.
Students need a working knowledge of Financial Accounting and a financial calculator which is capable of computing internal rate of return (IRR). Students are advised to begin with BFP*210 Fundamentals of Financial Planning and to try to follow the program sequence as much as possible. Contact the program administrator for help with problems, answers to questions and provide advice: dwaldron@mcc.commnet.edu .
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Learning Outcomes
Upon successful completion of all Personal Financial Planning certificate program requirements, graduates will
- Explain issues and concepts related to the financial planning process in determining how an individual can set and meet life goals through the proper management of financial resources relative to their lifestyle, health, insurance, estate, education and retirement needs.
- Apply financial planning concepts, tools and techniques in an objective, integrated and comprehensive manner for the benefit of individuals to help them achieve their financial objectives, using the financial planning process.
- Demonstrate an understanding of their responsibilities to the public, to clients, to colleagues and to employers in terms of acting in an ethical and professionally responsible manner in all professional services and activities.
- Demonstrate mastery of the financial planning topics determined by the Certified Financial Planner Board of Standards to constitute the core curriculum for personal financial planning practitioners: gather client data and determine goals and expectations; analyze and evaluate a client’s financial status; develop and present a financial plan; calculate and interpret time value of money; demonstrate an understanding of risk management, the process of risk analysis, and life insurance needs analysis; understand investment theory and strategies; explain the features of investment vehicles; calculate measures of investment and portfolio performance; understand the provisions of current Federal tax laws; apply tax planning strategies; and apply retirement and estate planning strategies.
Total Credits Required: 18
Note:
‡ While there are no prerequisites for the financial planning courses, a working knowledge of Financial Accounting (or completion of ACC* 115: Financial Accounting ) is strongly advised for BFP* 210 and all other courses in the program.
‡‡ MCC’s Personal Financial Planning certificate program is CFP® Board-approved. The Board has made a curriculum change, which they describe as follows:
“All students of CFP Board-Registered Programs whose initial dates of matriculation occur on or after January 1, 2012 will be required to take a financial plan development course registered with CFP® Board. Completion of the course will be required for those who register under “Challenge” status for the March 2012 or later administrations of the CFP® Certification Examination.” BFP* 265: Case Study and Analysis (SAMPLE), fulfills the new curriculum requirement. Any student who is already enrolled in this certificate program (and has declared it as a program of study), may follow the course requirements listed in previous catalogs that can be found on the MCC website.
Additional information about requirements, exam topics, etc. can be found at the Board’s website: http://www.cfp.net/become. Students interested in taking the certification exam and have a career in the field are strongly encouraged to visit the site. |
Return to: Certificate Programs
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