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100+ Free CFP Hong Kong Practice Questions

CFP Certification Examination (IFPHK, Hong Kong) practice questions are available now; exam metadata is being verified.

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Approximately 69% Foundation, 53% Advanced Paper 1, 46% Advanced Paper 2 (post-2021 averages) Pass Rate
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Personal allowances under Hong Kong salaries tax (such as the basic allowance and married person's allowance) function to:

A
B
C
D
to track
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Key Facts: CFP Hong Kong Exam

3 papers

Foundation + 2 Advanced

IFPHK CFP Examination Requirements

100% MCQ

Multiple-Choice Format

IFPHK Examination Handbook

2x / year

June and December

IFPHK

5% + 5%

MPF Contribution Split

MPFA

2%-17%

HK Salaries Tax Bands

GovHK

No estate duty

Abolished 2006

Inland Revenue Department

The IFPHK CFP Certification Examination uses three multiple-choice papers: Foundation Level, Advanced Level Paper 1, and Advanced Level Paper 2 (the integrative capstone). It tests seven subject areas: foundations of financial planning, investment planning, insurance and risk management, Hong Kong tax planning, employee benefits and retirement (MPF), estate planning, and integrated financial planning. Each paper is graded PASS or FAIL; IFPHK does not publish a fixed raw passing percentage. Exams are held twice a year (June and December) in English or Traditional Chinese. Hong Kong specifics include MPF 5%+5% contributions (HK$7,100 minimum and HK$30,000 maximum relevant income, HK$1,500 cap), salaries tax of 2% to 17%, and no estate duty since 2006.

Sample CFP Hong Kong Practice Questions

Try these sample questions to test your CFP Hong Kong exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under the IFPHK CFP certification process, in what order must a candidate normally sit the three examination papers?
A.Advanced Level Paper 2, then Paper 1, then Foundation Level
B.Foundation Level, then Advanced Level Paper 1, then Advanced Level Paper 2
C.Any order the candidate prefers
D.Advanced Level Paper 1 and Paper 2 first, then Foundation Level
Explanation: The IFPHK CFP certification path is sequential: candidates start with the Foundation Level examination, then sit Advanced Level Paper 1, and finally Advanced Level Paper 2, which is the integrative capstone paper. This staged structure builds knowledge before testing integration.
2What is the question format used across all three IFPHK CFP certification examination papers?
A.Open-ended essay responses
B.Practical portfolio submissions
C.Oral case-study interviews
D.Multiple-choice questions
Explanation: All IFPHK CFP certification papers (Foundation Level, Advanced Level Paper 1 and Paper 2) use a multiple-choice question (MCQ) format with equal marks per question, graded pass/fail. This standardised format applies even to the integrative Paper 2.
3The IFPHK CFP examinations are typically offered how often each year?
A.Twice a year, usually in June and December
B.Once a year in September
C.Monthly on demand
D.Four times a year, quarterly
Explanation: IFPHK holds each CFP examination paper twice a year, normally in June and December. Candidates select an exam window and may sit papers in successive sittings as they progress through the certification path.
4In which languages may a candidate sit the IFPHK CFP certification examinations?
A.English only
B.English or Traditional Chinese
C.Traditional Chinese only
D.English, Simplified Chinese, or Cantonese transcription
Explanation: IFPHK offers the CFP certification examinations in either English or Traditional Chinese, reflecting Hong Kong's bilingual professional environment. Candidates choose their preferred language at enrolment.
5Advanced Level Paper 2 in the IFPHK CFP examination primarily tests a candidate's ability to do what?
A.Integrate all of the financial planning subject areas into comprehensive plans
B.Recall isolated facts from a single subject area
C.Demonstrate spoken client-communication skills
D.Pass a separate ethics-only examination
Explanation: Advanced Level Paper 2 is the integrative capstone: it tests a candidate's ability to combine knowledge and skills across all seven financial planning subject areas to construct comprehensive financial plans, rather than testing each area in isolation as earlier papers do.
6Which of the following is one of the seven financial planning subject areas covered by the IFPHK CFP curriculum?
A.Corporate merger arbitrage
B.Insurance planning and risk management
C.Sovereign credit rating analysis
D.Commodity futures market-making
Explanation: Insurance planning and risk management is one of the seven core IFPHK CFP subject areas, alongside financial planning principles, investment planning, retirement planning, tax planning, estate planning, and financial management. These define the certification syllabus.
7The first step of the financial planning process taught in the IFPHK CFP curriculum is best described as:
A.Implementing the recommendations immediately
B.Selling a packaged investment product
C.Monitoring the plan annually
D.Establishing and defining the client relationship and scope of engagement
Explanation: The recognised financial planning process begins with establishing and defining the client-planner relationship, including the scope of the engagement and the planner's responsibilities. Only after gathering data, analysing, and developing recommendations does implementation follow.
8A CFP professional places the client's interests ahead of their own when giving financial advice. This duty is best described as:
A.A fiduciary or client-first duty
B.A suitability-only obligation
C.A caveat emptor principle
D.A best-execution trading rule
Explanation: CFP professionals are bound by a client-first (fiduciary) standard of conduct, requiring them to act in the client's best interests with integrity, objectivity, and diligence. This exceeds a mere suitability obligation.
9When gathering client data, which of the following is an example of qualitative (rather than quantitative) information?
A.The client's annual salary
B.The market value of the client's MPF account
C.The client's risk tolerance and attitude toward debt
D.The outstanding balance on the client's mortgage
Explanation: Risk tolerance and attitudes are qualitative data: they describe feelings, goals, and preferences rather than numbers. Salary, MPF value, and mortgage balance are quantitative figures used in the financial position analysis.
10A client has monthly income of HK$50,000 and fixed monthly debt repayments of HK$20,000. What is the client's debt-service ratio?
A.20%
B.40%
C.50%
D.60%
Explanation: The debt-service ratio equals total debt repayments divided by income: HK$20,000 / HK$50,000 = 40%. Hong Kong mortgage lenders commonly cap the debt-servicing ratio around 50%, so this client retains some borrowing capacity.

About the CFP Hong Kong Practice Questions

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