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Registered Financial Planner (RFP) Exam — Philippines

Practice Questions100 questions

2026 Statistics

Key Facts: AFP Exam

Not published

Passing Score

Current RFPI public page

Not published

Exam Questions

Current RFPI public page

Not published

Time Limit

Current RFPI public page

PHP 6,800

Current Program Fee

RFPI live-online registration

1 / 3 years

Relevant Experience

Degree holder / undergraduate

15 hours

Annual Continuing Education

RFPI requirement

Use this bank as broad Philippine personal-finance practice, not as a claim that the AFP certification exam has 100 questions, lasts two hours or uses a 70% cut score. Current RFPI requirements include the AFP Program, one year of relevant experience for degree holders or three years for undergraduates, adherence to the code, and 15 CE hours each year.

Sample AFP Practice Questions

Try these sample questions to test your AFP exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 105+ question experience with AI tutoring.

1Under the Registered Financial Planners (RFP) Philippines standards, what is the correct sequence of the six steps in the financial planning process?

A.Establish client relationship, Gather client data, Analyze financial status, Develop recommendations, Implement recommendations, Monitor the plan

B.Gather client data, Analyze financial status, Establish client relationship, Develop recommendations, Implement recommendations, Monitor the plan

C.Establish client relationship, Gather client data, Develop recommendations, Analyze financial status, Implement recommendations, Monitor the plan

D.Establish client relationship, Develop recommendations, Gather client data, Analyze financial status, Implement recommendations, Monitor the plan

Explanation: The six-step financial planning process according to RFPI standards begins with establishing and defining the client-planner relationship. This is followed by gathering client data and determining goals, analyzing and evaluating the client's financial status, developing and presenting financial planning recommendations, implementing the recommendations, and finally, monitoring the financial planning recommendations.

2Which of the following client goals is formulated correctly according to the SMART criteria?

A.Save enough money to buy a house in the near future.

B.Accumulate a down payment of Php 500,000 for a condominium in Quezon City by saving Php 10,000 monthly for the next 50 months.

C.Invest in high-yield mutual funds to retire comfortably with a high standard of living.

D.Clear all credit card debts as quickly as possible by reducing daily lifestyle expenses.

Explanation: A SMART goal must be Specific, Measurable, Actionable/Attainable, Realistic, and Time-bound. Accumulating Php 500,000 (Specific/Measurable) for a condo in Quezon City by saving Php 10,000 monthly (Actionable/Realistic) over 50 months (Time-bound) meets all these criteria.

3A financial planner is gathering qualitative and quantitative data from a new client. Which of the following is considered qualitative data?

A.The client's outstanding credit card balance of Php 45,000 with BPI.

B.The client's monthly premium of Php 5,000 on a variable unit-linked (VUL) insurance policy.

C.The client's attitude toward risk, financial values, and expectations regarding their children's education.

D.The client's monthly basic salary of Php 75,000 from an IT firm.

Explanation: Qualitative data refers to non-numerical information regarding the client's attitudes, beliefs, values, risk tolerance, and expectations. Quantitative data involves objective, numerical facts such as income, asset values, debts, and cash flows.

4According to the Code of Ethics of RFP Philippines, which principal duty requires a planner to act in the best interests of the client, placing the client's interests above their own?

A.Client First

B.Competence

C.Confidentiality

D.Diligence

Explanation: RFP Philippines labels this ethical principle Client First: a financial planning professional must act honestly and must not put personal gain or advantage before the client's interests. Objectivity is a separate principle requiring intellectual honesty, impartiality, conflict management, and sound professional judgment.

5If a client wants to accumulate Php 1,000,000 in 6 years, and can earn an annual interest rate of 6% compounded annually, what is the approximate present value they must invest today? (Round to the nearest peso)

A.Php 704,961

B.Php 747,258

C.Php 673,000

D.Php 841,973

Explanation: Using the Present Value formula: PV = FV / (1 + r)^n. Here, FV = 1,000,000, r = 0.06, n = 6. PV = 1,000,000 / (1.06)^6 = 1,000,000 / 1.418519 = Php 704,961.

6What is the future value of an ordinary annuity of Php 50,000 paid at the end of each year for 5 years, assuming an interest rate of 5% compounded annually?

A.Php 276,282

B.Php 250,000

C.Php 290,096

D.Php 262,500

Explanation: The formula for the future value of an ordinary annuity is: FVA = PMT * [((1 + r)^n - 1) / r]. FVA = 50,000 * [((1.05)^5 - 1) / 0.05] = 50,000 * [0.27628156 / 0.05] = 50,000 * 5.525631 = Php 276,282.

7A client is planning for their child's university education, which will begin in 10 years. They need to pay Php 150,000 at the beginning of each year for 4 years. If their investment fund earns 7% compounded annually, what single lump-sum amount must they invest today to fully fund these future tuition costs?

A.Php 276,363

B.Php 292,519

C.Php 255,497

D.Php 285,150

Explanation: The four tuition payments occur at times 10, 11, 12, and 13. Discounting them to time 0 gives 150,000/(1.07)^10 + 150,000/(1.07)^11 + 150,000/(1.07)^12 + 150,000/(1.07)^13 = Php 276,362.77, which rounds to Php 276,363.

8Using the Rule of 72, approximately how many years will it take for an investment of Php 100,000 to double to Php 200,000 if it earns an annual compound return of 8%?

A.9.0 years

B.7.2 years

C.8.0 years

D.12.5 years

Explanation: According to the Rule of 72, the number of years to double an investment is calculated by dividing 72 by the annual interest rate (expressed as a whole number). Years = 72 / 8 = 9.0 years.

9Which of the following statements best describes the difference between the Nominal Interest Rate and the Effective Annual Rate (EAR)?

A.The nominal rate is always higher than the EAR when compounding occurs more than once a year.

B.The nominal rate represents the actual annual interest earned, whereas the EAR ignores compounding.

C.The nominal rate is the stated annual interest rate, while the EAR reflects the actual interest earned per year after accounting for compounding frequency.

D.There is no difference between nominal rate and EAR when interest compounds monthly.

Explanation: The nominal interest rate is the stated rate that does not account for compounding within the year. The Effective Annual Rate (EAR) adjusts the nominal rate to reflect the actual interest earned or paid due to the compounding frequency (daily, monthly, quarterly) within a 12-month period.

10A client has a monthly net take-home pay of Php 60,000. Their monthly non-discretionary (fixed) expenses are Php 35,000, and discretionary (variable) expenses are Php 15,000. What is the client's savings ratio?

A.16.67%

B.25.00%

C.41.67%

D.10.00%

Explanation: Savings = Net Income - Total Expenses = Php 60,000 - (Php 35,000 + Php 15,000) = Php 10,000. The savings ratio is Savings divided by Net Income: Php 10,000 / Php 60,000 = 16.67%.

About the AFP Exam

The Associate Financial Planner (AFP) is an entry-level designation awarded by Registered Financial Planners Philippines. RFPI's current public requirements focus on completing its AFP Program, relevant experience, ethics and annual continuing education; the public page does not publish a fixed exam count, duration, cut score or weighted blueprint.

Assessment

Question count not published by the exam provider

Time Limit

Not published by RFP Philippines on its current AFP certification page

Passing Score

Not published by RFP Philippines on its current AFP certification page

Exam Fee

The current live-online AFP program registration lists PHP 6,800; an exam-only fee is not separately published (RFPI Philippines)

AFP Exam Content Outline

No published percentage

Personal Financial Planning & TVM

Broad practice in the financial-planning process, cash flow, budgeting, behavioral finance, goals, time value of money and plan construction; no official AFP weight is published.

No published percentage

Investment Planning

Broad practice in risk profiles, asset allocation, Philippine securities, pooled funds, fixed income, portfolio construction and review.

No published percentage

Insurance Planning & Risk Management

Broad practice in risk identification and treatment, life and health coverage, policy features, needs analysis and client suitability.

No published percentage

Tax Planning

Broad practice in current Philippine income, investment, transfer and donor-tax rules as they affect a financial plan.

No published percentage

Estate Planning

Broad practice in succession, wills, compulsory heirs, property regimes, estate liquidity, estate-tax computation and planning instruments.

No published percentage

Ethics & Financial Planning Practice

Broad practice in client-centered planning, confidentiality, conflicts, documentation, implementation, monitoring and RFPI professional responsibilities.

How to Pass the AFP Exam

What You Need to Know

Passing score: Not published by RFP Philippines on its current AFP certification page
Assessment: Question count not published by the exam provider
Time limit: Not published by RFP Philippines on its current AFP certification page
Exam fee: The current live-online AFP program registration lists PHP 6,800; an exam-only fee is not separately published

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

AFP Study Tips from Top Performers

1Master the Time Value of Money (TVM) formulas, especially calculations for ordinary annuities and annuities due.

2Verify current Philippine tax rates, thresholds and eligibility directly against current BIR guidance before relying on a memorized number.

3Memorize the legitime shares and compulsory heir rules under the Civil Code of the Philippines.

4Differentiate between traditional life insurance (term, whole life) and Variable Unit-Linked (VUL) policies.

5Review all eight RFPI ethics principles using their official names, including Client First, Integrity, Objectivity, Fairness, Professionalism, Competence, Confidentiality, and Diligence.

Frequently Asked Questions

What is the Associate Financial Planner (AFP) exam in the Philippines?

The AFP designation is an entry-level professional certification awarded by Registered Financial Planners (RFP) Philippines. It validates a professional's foundational knowledge in personal financial planning, investments, insurance, taxation, and estate planning under the Philippine regulatory and legal framework.

How many questions are on the Philippine AFP exam?

RFP Philippines does not publish a fixed AFP certification-exam item count on its current public certification page. Do not treat this site's practice-bank size as the official exam count.

What is the passing score for the AFP exam?

RFP Philippines does not publish a numeric AFP cut score on its current public certification page. Follow the instructions issued for your specific program cohort.

How much does the AFP exam and certification cost?

The current RFPI live-online AFP registration form lists a PHP 6,800 program fee. It does not separately identify a universal exam-only fee, and partner offerings may have different arrangements.

What is the study timeline recommended for the AFP exam?

RFP Philippines does not publish a universal study-hour requirement. Build a plan around your cohort materials and spend extra time on calculations and current Philippine tax and succession rules.