Review a compact Applied Financial Planning Exam 1 cheat sheet for PFP competencies, conduct, client management, asset and liability, insurance, investments, tax, retirement, and estate planning before Finance Prep practice.
Use this AFP Exam 1 cheat sheet as an integrated-planning checklist before mixed practice. The exam usually rewards the answer that follows the planning process, respects professional conduct, and connects the client facts to the correct planning domain.
| Item | AFP Exam 1 cue |
|---|---|
| Provider | CSI |
| Exam | Applied Financial Planning Certification Examination - AFP Exam 1 |
| Format | 105 stand-alone multiple-choice questions in 3 hours |
| Main practice behavior | PFP competency application across planning domains |
| Finance Prep status | live practice available |
| Domain | Weight | What to know | Common trap |
|---|---|---|---|
| Professional Conduct and Regulatory Compliance | 10% | ethics, standards, disclosure, professionalism, regulatory boundaries | treating technical correctness as enough when conduct is weak |
| Client Relationship and Practice Management | 6% | engagement scope, communication, planning process, client management | recommending before clarifying the process step |
| Asset and Liability Management | 11% | cash flow, debt, liquidity, net worth, borrowing, household constraints | missing the balance-sheet fact that blocks a strategy |
| Risk Management and Insurance | 12% | exposure, amount, duration, ownership, beneficiary, product fit | choosing a product before identifying the risk need |
| Investment Planning | 17% | asset allocation, account type, risk, tax, return, diversification | choosing return before objective and risk capacity |
| Tax Planning | 14% | deductions, credits, deferral, after-tax outcomes, benefit effects | confusing tax savings with best household outcome |
| Retirement Planning | 17% | savings, pensions, retirement income, sequencing, implementation | solving accumulation while ignoring withdrawal timing |
| Estate Planning | 13% | wills, powers of attorney, beneficiaries, trusts, transfer and control | choosing transfer mechanics before clarifying estate objective |
After each AFP Exam 1 set, classify misses by competency domain and planning-process step. If your answer solved one silo but missed the broader client fact, drill mixed domain questions before repeating full diagnostics.