CTFA credential FAQs

How many questions are asked in the CTFA exam?

The CTFA exam consists of 200 questions.

How much time is allowed for completing the exam?

The CTFA exam allows 4 hours for completing.

How can I apply for the exam?

• Check the eligibility requirements to determine that you qualify.
• Purchase the exam. Payment must be made by credit card. (You will be prompted to create a Certification Manager account.)
• Complete and submit the application that appears following the purchase.
• You will receive an Approval/Denial email from ABA within two weeks after receiving your application, along with additional details about the exam site. If your application is denied, you will receive a refund of your exam fee minus a $100 application fee.

You can visit the official site for ABA for more information.

What is the test site change or cancellation policy?

If you wish to reschedule or cancel a testing appointment within the same exam window, you must contact Scantron at least 2 business days before the scheduled appointment. Canceling or rescheduling a testing appointment more than 2 business days in advance is subject to a $50 fee. Canceling or rescheduling less than 2 business days in advance of an appointment is not permitted.

what are prerequisites for the exam?

The following prerequisites must be med before registering for the exam –

1. Ten (10) or more years’ experience in wealth management

OR

• Five (5) years minimum experience in wealth management AND a bachelor’s degree

OR

• Three (3) years minimum experience in wealth management AND completion of ONE of the following wealth management training programs:
• ABA Trust Certificates (Foundational, Intermediate and Advanced) – earned online, at an ABA Trust School, at an ABA-led in-bank Trust School or a combination of these. CTFA Exam Online Prep is required if all three certificates are completed online.
• Campbell University’s Trust & Investment Management Degree
• Cannon Financial Institute Trust Schools (Level I, II and III)
• Dakota Wesleyan University’s Graduate Certificate in Trust Management Degree
• Florida Trust and Wealth Management Schools (Junior and Senior level) earned through Florida Bankers Association and completion of the ABA CTFA Exam Online Prep.
• University of Delaware’s Trust Management Minor (when coupled with a Finance or Financial Planning major)

During the exam, can I skip questions and return to them later?

Yes. Questions can be marked and returned to at a later point in the exam, if time permits. Be sure to answer all questions, as only answered questions are scored.  

Can I review or change my answers?

Yes. Questions can be marked for review and an answer can be changed, provided that time permits.

Are individuals with disabilities accommodated in the computer-based testing centers?

Yes. All U.S. testing centers are fully accessible and compliant with the Americans with Disabilities Act (ADA). You must submit your request for reasonable accommodations, along with supporting documentation with your exam application.

Why does ABA use computer-based testing?

Computer-based testing offers candidates advantages in scheduling and convenience. Instead of having to take the exam on a fixed day and time, computer based testing offers candidates the flexibility of taking the exam any day and time during a 30-day testing window that best fits your schedule, subject to availability.

2. Will the certification exams be offered in paper-and-pencil format?

No. All exams will be computer-based and offered at Scantron Test Sites.

What do candidates need to bring to the test site?

Candidates are required to bring one (1) form of valid (non-expired), signature-bearing, photo identification to the test site.  Additionally, for Scantron Test Sites, candidates must bring a copy of their Confirmation Notice which is emailed to them at the time of registration for CTFA.

 How are exams scored?

The CTFA exam is scored on a “Pass/Fail” system using a predetermined cut off score based on advisory board analysis of the degree of difficulty for each question. Exams are scored based on your personal performance and are not graded on a curve.

How long will it take to receive exam results?

An instant pass/fail outcome is provided for most computer-based exams at testing sites. Official score results are delivered via email within 6 weeks after the close of the exam window.

Where can I find free practice test?

You can find the free practice test at our official site.