Today 7/6/13 I sat for the CMFAS M9A module for the 1st time and passed just like the M8A on 2/5/13. It hard to comprehend why M9A is neccessary when I have been licenced to advise on Insurance, since 1995! M9A is a combination of Insurance and CIS (which was covered in M8A)! The fee for each paper is $128.40. That adds up to $256.80 per candidate. Multiply that with the No of Financial Consultants and the No of resit (by many), the Income generated is truly "indecent"! BTW CIS was covered in my CFP M4 Exam and even than I have to sit for the regulatory exams (and passed) in order to transact CIS & ILP after end of June; even though I was licenced to Transact CIS & ILP since a long way back! By passing the two papers I do not think it makes much of a difference to my competency and knowledge in advising my client, as a holder of the CFP Diploma.
Posted on: Fri, 07 Jun 2013 12:18:47 +0000
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