Overview
The Financial Planning Skills Test (ファイナンシャル・プランニング技能検定) is a national examination in Japan. Passing it earns the title Certified Skilled Worker of Financial Planning (FP技能士) at Grade 1, 2 or 3. The test is held under Japan's vocational training law, with two designated bodies running it: the Japan Association for Financial Planners (JAFP) and the Kinzai (Financial Affairs Research Association, 金融財政事情研究会). A pass from either body counts as the same national qualification.
Every grade has a written (学科) test and a practical (実技) test, and you need to pass both. Grades 2 and 3 are taken by computer (CBT) all year round. Grade 1 written tests are run by Kinzai on paper, three times a year.
Who can apply
Grade 3: people who work in financial planning work, or who intend to. JAFP defines this as designing, managing and investing assets and giving related advice or consulting.
Grade 2: you need one of the following: a Grade 3 pass, at least two years of financial planning work experience, completion of a JAFP-approved AFP training course, or a pass in the old Financial Sales Skills Examination, Grade 3 (金融渉外技能審査3級), run by Kinzai.
Grade 1: the sources reviewed do not state the entry requirements. Check the current Kinzai or JAFP Grade 1 guide.
Levels or stages
Grade 3
Written test: 60 multiple-choice questions in 90 minutes. You need 36 out of 60.
Practical test (JAFP, asset design proposals): 20 multiple-choice questions in 60 minutes. You need 60 out of 100.
Kinzai offers two practical options at Grade 3, individual asset consulting and insurance customer asset consulting. You choose one when you apply, and passing either one is enough with the written test.
Grade 2
Written test: 60 multiple-choice questions in 120 minutes. You need 36 out of 60.
Practical test (JAFP, asset design proposals): 40 questions, a mix of multiple-choice and written answers, in 90 minutes. You need 60 out of 100.
Kinzai offers four practical options: individual asset consulting, small business owner asset consulting, life insurance customer consulting and non-life insurance customer consulting.
Grade 1
JAFP runs only the Grade 1 practical test (asset design proposals) and does not run a Grade 1 written test.
Kinzai runs the Grade 1 written test on paper, three times a year. Its Grade 1 practical test (asset consulting) is an oral examination.
As a rule you must pass the written test before you can take the practical test, so the two cannot be taken together.
Syllabus
The Grade 3 written test covers six areas.
Life planning and financial planning: planning ethics, related laws, life planning methods, social insurance and public pensions.
Risk management: insurance systems, life insurance and non-life insurance.
Financial asset management: deposits, investment trusts, bonds, shares, foreign-currency products and portfolios.
Tax planning: the tax system, income tax, types of income, deductions and filing.
Real estate: property transactions, related laws, taxes on buying and holding property, and property investment.
Inheritance and business succession: gifts, inheritance law, taxes, asset valuation and use of insurance.
The JAFP practical test is on asset design proposals. It tests whether you can follow planning ethics and the planning process and analyse a client's financial position. Grade 2 uses the same areas at greater depth.
Marking and results
Both the written and practical tests at Grades 2 and 3 have a pass mark of 60 per cent or more of the available points (36 out of 60 for the written test, 60 out of 100 for the practical test). JAFP announces results in the middle of the month after the test.
If you pass only one of the two tests, you have a partial pass. You can then be exempted from that test until the end of the fiscal year two years after the year you passed, if you apply for the exemption when registering.
Fees
JAFP lists these fees, which are not subject to consumption tax.
| Grade | Written only | Practical only | Both |
|---|---|---|---|
| Grade 2 | 5,700 yen | 6,000 yen | 11,700 yen |
| Grade 3 | 4,000 yen | 4,000 yen | 8,000 yen |
Check the current JAFP or Kinzai fee notice before booking, as fees can change.
How to apply
For Grades 2 and 3, applications are open all year round and tests are taken at CBT test centres across Japan. Individuals apply through the CBT Solutions portal. Group applicants need an application code from their organisation's coordinator. At Grades 2 and 3 you choose your own test time and centre, so Kinzai notes that taking the written and practical tests on the same day appears possible. If you apply through Kinzai, you pick your practical subject when you register.
After the exam
Passing both tests earns a certificate and the title of FP technician at that grade. Kinzai states that the national qualification is valid for life, with no renewal needed. This is unlike the private AFP and CFP designations.
FAQs
Is the FP Skills Test a national qualification?
Yes. It is a national examination, and a pass from JAFP or Kinzai gives the same title.
Can I take the written and practical tests separately?
Yes. If you pass only one, you keep that pass for exemption until the end of the fiscal year two years after the year you passed.