100+ Free CFP Japan Practice Questions
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For business succession, the 非上場株式等についての相続税の納税猶予及び免除 (business succession tax deferral, 事業承継税制) primarily provides what benefit for qualifying unlisted company shares?
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Key Facts: CFP Japan Exam
6
Exam Subjects
JAFP CFP Certification
50
Questions per Subject
JAFP CFP Examination
2 hrs
Time per Subject
JAFP CFP Examination
Jun & Nov
Exam Sessions per Year
JAFP CFP Examination
JPY 6,600
Single-Subject Fee
JAFP CFP Examination
3 yrs
Experience for Certification
JAFP CFP Certification
Japan's CFP certification examination, run by the Japan Association for Financial Planners (JAFP), is fully multiple-choice across six subjects: Financial Asset Planning, Real Estate Investment Planning, Life & Retirement Planning, Risk & Insurance, Tax Planning, and Estate & Business Succession Planning. Each subject paper has 50 four-option questions worth 2 points each (100-point maximum) with a 2-hour limit, and candidates may take subjects across multiple cycles. Exams run twice a year (June and November), three subjects per day over two days. JAFP sets a relative pass line per administration rather than a fixed cutoff, with recent lines around 24-33 of 50. The exam fee is JPY 6,600 for one subject or JPY 3,300 per subject when taking two or more.
Sample CFP Japan Practice Questions
Try these sample questions to test your CFP Japan exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1Under JAFP's CFP certification examination, the 金融資産運用設計 (Financial Asset Planning) paper consists of how many questions, and what is the scoring per question?
2An investor buys a bond at 98.00 (per 100 face), holds it one year receiving a 1.5 coupon, and sells at 99.00. What is the approximate one-year holding-period return (単利, simple)?
3In Japan, interest from a listed corporate bond received by an individual is generally taxed under which regime as of 2026?
4A stock has an expected return of 8% with a standard deviation of 20%, and a portfolio combines it 50/50 with a risk-free asset returning 2%. What is the portfolio's expected return and standard deviation?
5Within the 2024 reformed NISA (新NISA), what is the annual investment limit for the growth investment portion (成長投資枠)?
6A bond with a face value of 100 has a 2% annual coupon, 4 years to maturity, and is priced at 96. Using the simple-yield (単利最終利回り) approximation, what is the yield to maturity?
7The Sharpe ratio of a portfolio with a 9% return, a 3% risk-free rate, and 15% standard deviation is closest to:
8For a Japanese individual investor, a 特定口座 (specified account) with 源泉徴収あり (withholding) offers what key advantage?
9A foreign-currency time deposit converts JPY to USD at a TTS rate of 150 and back at a TTB rate of 148 one year later, with a 4% USD interest rate. Ignoring tax, the round-trip exchange-rate effect on principal is approximately:
10Under Japan's deposit insurance system (預金保険制度), how much principal per depositor per bank is protected for a standard yen ordinary deposit?
About the CFP Japan Exam
The JAFP CFP certification examination is a six-subject, fully multiple-choice exam covering Financial Asset Planning, Real Estate Investment Planning, Life & Retirement Planning, Risk & Insurance, Tax Planning, and Estate & Business Succession Planning. Each subject has 50 four-option questions in a 2-hour paper, and all six must be passed to qualify for the CFP mark.
Questions
50 scored questions
Time Limit
2 hours (120 minutes) per subject paper
Passing Score
Relative pass line set per administration; recent lines roughly 24-33 of 50 questions
Exam Fee
JPY 6,600 (tax included) for one subject, or JPY 3,300 per subject when taking two or more in a cycle (Japan Association for Financial Planners (JAFP))
CFP Japan Exam Content Outline
Financial Asset Planning (金融資産運用設計)
Investment products, bonds, equities, investment trusts, NISA, foreign-currency assets, portfolio theory, risk-return measures, financial-income taxation, and investor protection.
Real Estate Investment Planning (不動産運用設計)
Property valuation approaches, capitalization rates, zoning and floor-area ratios, the Building Standards Act, leasehold rights, real-estate taxation, and investment-yield analysis.
Life & Retirement Planning (ライフプランニング・リタイアメントプランニング)
Cash-flow tables, time-value coefficients, public pensions, iDeCo and DC/DB plans, social insurance, education funding, mortgages, and the financial-planning process and ethics.
Risk and Insurance (リスクと保険)
Life, medical, and non-life insurance products, premium deductions, benefit taxation, corporate insurance accounting, earthquake and fire coverage, and policyholder protection.
Tax Planning (タックスプランニング)
Japanese income tax, deductions and credits, classification of income, consumption tax, blue-return filing, depreciation, loss offsetting, and scope of the Certified Tax Accountant Act.
Estate & Business Succession Planning (相続・事業承継設計)
Inheritance and gift tax, statutory shares and reserved portions, the small residential land reduction, wills, unlisted-share valuation, and business-succession tax relief.
How to Pass the CFP Japan Exam
What You Need to Know
- Passing score: Relative pass line set per administration; recent lines roughly 24-33 of 50 questions
- Exam length: 50 questions
- Time limit: 2 hours (120 minutes) per subject paper
- Exam fee: JPY 6,600 (tax included) for one subject, or JPY 3,300 per subject when taking two or more in a cycle
Keys to Passing
- Complete 500+ practice questions
- Score 80%+ consistently before scheduling
- Focus on highest-weighted sections
- Use our AI tutor for tough concepts
CFP Japan Study Tips from Top Performers
Frequently Asked Questions
How many questions are on the JAFP CFP exam?
Each of the six CFP subject papers has 50 four-option multiple-choice questions, for 300 questions across all subjects. Every question is worth 2 points, giving a 100-point maximum per subject paper.
How long is each CFP Japan subject exam?
Each subject paper is 2 hours (120 minutes). JAFP administers three subjects per day over two test days, so candidates taking all six subjects sit them across two days.
What is the passing score for the CFP Japan exam?
JAFP sets a relative pass line for each administration rather than a fixed percentage. In recent cycles the line has fallen roughly between 24 and 33 correct of 50 questions, depending on the subject and difficulty.
How much does the CFP Japan exam cost?
The exam fee is JPY 6,600 (tax included) for a single subject. When applying for two or more subjects in the same cycle, the fee is JPY 3,300 per subject.
Can I take the CFP subjects separately?
Yes. Candidates may take one subject at a time and decide how many subject papers to attempt per cycle. All six subjects must eventually be passed to qualify for CFP certification.
When is the CFP Japan exam held?
JAFP holds the CFP certification examination twice a year, in June and November, with three subjects offered on each of two test days per session.
What are the six CFP exam subjects in Japan?
The six subjects are Financial Asset Planning, Real Estate Investment Planning, Life & Retirement Planning, Risk & Insurance, Tax Planning, and Estate & Business Succession Planning, all reflecting Japanese law and regulation.
What is required to become CFP certified in Japan?
Beyond passing all six exam subjects, JAFP requires three years of qualifying practice experience and completion of the CFP entry training, plus adherence to the code of ethics, before awarding the CFP mark.