FAQs
How do I obtain the CPFA?
You can obtain the NAPA CPFA by successfully passing the NAPA CPFA Examination, which consists of 70 multiple-choice questions. The exam is proctored, delivered at Prometric testing centers nationwide.
You’ll have three hours to complete the exam, and receive immediate notification of your grade.
How long does it take to acquire the CPFA?
On average, about two months.
Is there any specific experience requirement?
No specific experience level is required, but if you are new to retirement plan sales, you might find it helpful to begin with NAPA’s 401(k) Practice Builder.
What do the CPFA study modules cover?
The CPFA Coursework covers four key areas:
- ERISA Fiduciary Roles and Responsibilities
- ERISA Fiduciary Oversight
- ERISA Plan Investment Management
- ERISA Plan Management
How do I prepare for the CPFA Examination?
To study for the examination candidates may purchase online modules. These modules contain:
- All the content covered in the examination, presented using case studies;
- Interactive practice activities based on real life situations;
- Multiple-choice sample questions that mimic the questions found on the examination;
- Additional resources for continuous learning
When can I register for the exam?
Registration is open and you can take the exam any time.
When can I take the exam at a Prometric Testing Center?
Attention: Due to the COVID-19 pandemic, our testing center provider, Prometric, has temporarily canceled the scheduling of all exams at their live in-person Testing Centers. This product will be made available for purchase when we receive feedback from our provider that it is safe to resume normal business operations at their various testing center locations throughout the country. While we know this is unfortunate news, we want to ensure the health and safety of our customers involved with this process. Please re-visit the NAPA website periodically for updates regarding this matter.
If I fail the exam, when can I take it again?
You may retake the exam 45 days after initial attempt.
How much does it cost?
CPFA Exam
$345 for NAPA Members
$370 for Non-Members
NAPA’s Broker-Dealer and RIA Firm Partners are eligible for volume discounts on proctored exams. For more information, please contact SAMTeam@usaretirement.org
CPFA Modules
$670 for NAPA Members
$990 for Non-Members
NAPA’s Broker-Dealer and RIA Firm Partner members whose compliance departments have approved CPFA are eligible for complimentary distribution of the CPFA online modules. For more information, please contact SAMTeam@usaretirement.org
NAPA Credentialed Maintenance Membership Dues
$65 with NAPA Firm Partner*
$610 with no NAPA Firm Partner affiliation
Please Note: If you currently hold other designations in other American Retirement Association organizations and add a CPFA to your current designations, your dues will be different than above. Contact Customer Care with questions.
Are there any on-going fees?
If you are not an advisor/employee with a NAPA Firm Partner, you are responsible for the annual NAPA membership fees in order to obtain and maintain your credential ($610 Non-Firm Partner Member price. For pro-rated prices, please contact Customer Care).
What does the CPFA examination cover?
How many Continuing Education (CE) Credits are required to maintain my credential?
Please read the NAPA CE Policy
How many CE credits are awarded for the CPFA?
Upon successfully completing the online course or passing the proctored examination candidates will earn:
| Online Course | Ten (10) CE credits Ten (10) ERPA CE credits 7.5 CFP CE Credits |
| Proctored Examination | Ten (10) CE credits Ten (10) ERPA CE credits |
How do I sign up?
How do I apply for my credential?
Once you’ve passed the exam, you will submit your credential application at www.napamember.org
How can I confirm CPFA credential status?
Become CPFA Certified
Online Modules | Proctored Exam |
|
|---|---|---|
NAPA Member | $690 | $380 |
Non-NAPA Member | $1,020 | $395 |