So I just got my results back this morning and I finally passed the TFM exam on my second try. First attempt I went in way too confident — I've been in treasury for about six years and figured my day-to-day experience would carry me. It did not. Scored a 68 and needed a 70. Crushing.
For round two I completely changed my approach. I spent about eight weeks studying, roughly 90 minutes a night after the kids were in bed. The biggest game-changer was actually doing structured practice questions instead of just rereading the AFP materials. I found a solid TFM practice test online that simulated the real exam format and that honestly exposed every gap I had — especially in the cash positioning and risk management sections. The TFM study guide from AFP is dense but thorough; I'd read a module, do questions, then go back and re-read whatever I got wrong.
For anyone else prepping: don't underestimate the liquidity sections. I thought I knew that stuff cold and it still tripped me up. Happy to share more exam tips if people have questions — ask away.