PFS Classroom Management & Support 2

Question 1

How many hours of continuing professional education (CPE) must a PFS credential holder complete during each 3-year renewal cycle?

Accepted Answer

60 hours

Answer

AICPA requires PFS holders to complete 60 CPE hours per 3-year renewal cycle, with a minimum of 60 of those hours in personal financial planning topics.

Question 2

Which organization administers and awards the Personal Financial Specialist (PFS) credential?

Accepted Answer

AICPA

Answer

The AICPA (American Institute of CPAs) exclusively administers the PFS credential, which is available only to licensed CPAs.

Question 3

A PFS candidate must have a minimum of how many hours of personal financial planning experience to qualify for the credential?

Accepted Answer

3,000 hours

Answer

Candidates must document at least 3,000 hours of personal financial planning experience within the 5 years preceding the application.

Question 4

Which of the following CPE formats is generally NOT accepted for PFS credential renewal?

Accepted Answer

Self-study courses completed without an assessment

Answer

Self-study CPE must include a qualifying assessment (quiz or exam) to count; passive reading or viewing without assessment typically does not qualify.

Question 5

Which of the following best describes the educational prerequisite for applying for the PFS credential?

Accepted Answer

Active CPA license in good standing

Answer

The PFS credential is open only to CPAs who hold an active, unrevoked CPA license in good standing—no separate degree or registration is required.

(PFS) Personal Financial Specialist Practice Test

(PFS) Personal Financial Specialist Practice Test

PFS Classroom Management & Support 2