STAND OUT

FROM THE CROWD

JOB SECURITY | ENHANCED CREDIBILITY | CAREER OPPORTUNITIES

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 3 WHAT IS THE CERTIFIED CORPORATE FP&A
PROFESSIONAL CERTIFICATION?
TABLE OF CONTENTS
– Introduction
– What Does Best-In-Class FP&A Look Like?

5 WHO ARE FPAC PROFESSIONALS?

– Who Should Pursue the Certified Corporate

FP&A Professional Certification?
– Who Employs Certified Corporate FP&A
Professionals?

8 WHY CONSIDER THE FPAC CREDENTIAL?

– Stand Out in the Field

– Should I Pursue the FPAC, CFA, CPA or CMA?

11 HOW TO BEGIN YOUR FPAC JOURNEY?

– A Quick Look at the FPAC Exam

– Testing Dates and Fees
– Prepare with the FPAC Exam Prep Platform
– FPAC Exam and Preparation Checklist

16 FREQUENTLY ASKED QUESTIONS

WHAT IS THE
CERTIFIED CORPORATE FP&A
PROFESSIONAL CERTIFICATION?

INTRODUCTION
The ongoing digital transformation has put a
premium on the ability to manage and interpret data
and extract complex information to provide insights
into the decision-making process of the organization.

The goal of the FP&A function is to improve business decisions by

allocating capital to its best use. The FPAC professional is a financial
expert, strategic and adept communicator, as well as a trusted
advisor to the business.

When you become certified in FP&A, you will prove that you Hear what FPAC
have deep knowledge of the entire decision support process holders have to
and are able to contribute to and be responsible for individual say about the
components of that process. You also will validate that you credential here.
know how to perform these functions accurately and efficiently,
and can identify, assess and adapt the processes to changes in
the business environment.

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 WHAT IS THE CERTIFIED CORPORATE
FP&A PROFESSIONAL CERTIFICATION?

FORECASTING TECHNIQUES
WHAT DOES BEST-IN-CLASS FP&A LOOK LIKE?
Possess advanced forecasting skills to create more
accurate short and long-range plans and budgets.

FINANCIAL MANAGEMENT
Evaluate the business case for new markets and
products utilizing a deep understanding of financial
statements, risk management concepts, business
frameworks, and micro- and macroeconomic concepts.

DATA VISUALIZATION
Trusted business partners with a heightened ability to
present and explain complex financial issues to various
stakeholders and to incorporate data visualization
techniques.

CAPITAL MANAGEMENT
Proactively manage the investment process by
creating capital expenditure and investment analysis
by applying your knowledge of working capital,
financing options and financial decision types.

FINANCIAL MODELING
Focus your financial analysis on future actions by
applying efficient model design where you are able to
develop assumptions and draw conclusions.

DATA MANAGEMENT
Manage data and work toward a networked and
connected data system that includes the ETL process
in data warehousing, regulatory and security systems
and the capabilities of systems for storing and
providing access to data.

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WHO ARE FPAC PROFESSIONALS? WHO SHOULD PURSUE THE
CERTIFIED CORPORATE FP&A
PROFESSIONAL CERTIFICATION?

FPAC Professionals aren’t just number crunchers.

Do you want to use your unique skillset to:

– Evaluate business cases of new markets and new products?

– Manage a corporate investment portfolio and the process around it?
– Forecast financial statements and commitments?
– Forecast risks (impacts and likelihood of events)?
– Evaluate operational leverage?

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 WHO ARE FPAC PROFESSIONALS?

Here is a list of some of the most common titles of

professionals who have earned the FPAC credential.

– Senior Financial Analyst – Director, Business Planning

– Financial Analyst – Business Controller

– Finance Manager – Finance & Accounting Manager

– Head of Long-Term Planning & Budgeting – Director, Budgeting & Financial Analysis

– Director of Finance – Director, Strategic Data Analyst

– Manager, Financial Planning & Analysis – Manager, Business Planning & Strategy

– Principal Financial Analyst – Director, Budgeting & Analysis

– Director, Financial Planning & Analysis – Budget & Financial Analyst

– Vice President, Financial Planning & Analysis – Business Analyst

– Business & Planning Analyst

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 WHO ARE FPAC PROFESSIONALS?

3M Deutsche Bank Medtronic

WHO EMPLOYS FPAC PROFESSIONALS?

ABM Industries Discover Financial MetLife

Incorporated Services
Microsoft
Adobe Systems Dish Network
Mitsubishi Motors N.A.
ADP Dominion Energy
Nascar
AFLAC Dow Corning
NBC Universal
Corporation
Allstate Insurance
NCR Corporation
Dow Jones
Amazon
Nordstrom
Electronic Arts
Ancestry.com
Northrop Grumman
Ernst & Young
Andersen Corporation Corporation
Etihad Airways
ARAMARK Corporation NRG Energy
Facebook, Inc.
AT&T Oracle
Federal Express
Bank of the West PayPal
Freeman
Barclays Pfizer
GE
BBVA Philips
General Electric
BlackRock Publix Super Markets
General Motors
BNP Paribas QUALCOMM
Halliburton
Boeing Raytheon Company
Herbalife Nutrition
Burger King Red Hat, Inc.
HSBC
Campbell Soup Sentara Healthcare
Company J.M. Smucker Company
Sephora
Capital One Johnson & Johnson
Shell
Cargill JP Morgan Chase
Sony Europe
Charles Schwab Kaiser Permanente
Starbucks
Cheesecake Factory KPMG
State Farm Insurance
Incorporated
LexisNexis
Thermo Fisher
Chevron
Lincoln Financial Group Scientific
Chick-fil-A
LinkedIn Tractor Supply Co. Inc.
Cigna
L.L. Bean U-Haul International
Citibank
Lockheed Martin Verizon
Coca-Cola
Lowe’s Voya Financial
Refreshments
Mars, Inc. Whataburger
Dell
McGraw-Hill Education Williams-Sonoma

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WHY CONSIDER THE FPAC CREDENTIAL? STAND OUT IN THE FIELD
Not only do FPAC holders earn more, but they are
seen as leaders in their organization.

CFOs are seeking professionals with planning,

forecasting and analysis skills combined with an
ability to see the overall strategy of the organization.

COMPETENCY VALIDATION
Exhibit your understanding of the core competencies
of FP&A, especially those that are not necessarily
covered by a traditional degree, such as an MBA.
And it’s the only credential that is specific to the
field—it is forward looking and assesses technical
skills as well as the ability to see the big picture.

DEMONSTRATE YOUR PASSION FOR FP&A

Earning and maintaining the FPAC certification
confirms your commitment to your profession and
identifies you as someone ready to drive FP&A and
the organization forward.

STANDARDS OF ETHICAL CONDUCT

FPAC credential holders have an obligation to their
employers, co-workers, customers, shareholders, the
profession and themselves to maintain the highest
standards of conduct and to encourage their peers
to do likewise. FPAC holders must agree to abide by
these ethical standards.

BUILD A GLOBAL PROFESSIONAL NETWORK

FPAC credential holders work in 82+ countries
and can connect through AFP. Be part of a global
network via the virtual AFP Collaborate group or
attend the largest conference for treasury and
finance professionals each year.

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 WHY CONSIDER THE FPAC CREDENTIAL?

SHOULD I PURSUE THE FPAC,

CFA, CPA OR CMA?

That depends on your career goal.

All of these are rigorous credentials that demand time,

experience and a commitment to your career.

But in what direction are you driving your career?

If you want to pursue a career in investment analysis and portfolio
management, then the CFA may be the right fit. If you are looking to a
career that has a heavy dose of accounting, reporting, compliance or
controller, then the CPA or CMA may be the best fit. And if you already have
one of these credentials, then adding the FPAC credential can be a powerful
complement — and you may be able to waive Part I of the FPAC Exam.

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 WHY CONSIDER THE FPAC CREDENTIAL?

SHOULD I PURSUE THE FPAC,

CFA, CPA OR CMA?

Here’s a quick general breakdown of these credentials:

FPAC CPA/CMA* CFA*

Career in public or private

Career in corporate finance Career in investment analysis
accounting or management
focused on FP&A and portfolio management
accounting

Focus on past fiscal performance

Real-world application of FP&A Deep knowledge of investment
and compliance and business
knowledge analysis, management, and ethics
analysis

Apply knowledge to add value to Apply knowledge to one’s own Apply analysis to evaluate
one’s own organization firm third-party organizations

300 hours (CPA), 140 hours

80 - 100 hours of self-study 900+ hours of self study
(CMA) per part

Pass 4 Exam Parts (CPA), 2 Exam

Pass 2 Exam Parts* Pass 3 Exam Parts
Parts (CMA)

FP&A Manager Management Accountant Portfolio Manager

FP&A Senior Analyst Cost Accountant Relationship Manager
FP&A Analyst Accounting Manager Research Analyst
Director Finance Senior Accountant Chief Executive Officer
Vice President, Finance Corporate Controller Consultant
Chief Financial Officer Financial Analyst Corporate Financial Analyst
Business Analyst Financial Advisor
Accounting Supervisor Risk Manager
Chief Financial Officer

* As of April 15, 2020, holders in good standing of the CFA, CMA, CPA (US, Canada, Australia), ACCA, FCCA, ACMA, FCMA or
CTP credential are eligible to waive Part I of the FPAC Exam. Go to FPACert.afponline.org/waiver for more information.

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HOW TO BEGIN YOUR FPAC JOURNEY? A QUICK LOOK AT
THE FPAC EXAM
The Certified Corporate FP&A Professional exam is a two-part
comprehensive computer-based exam consisting of multiple choice,
spreadsheet and case analysis questions. Part I of the exam tests your
knowledge of business acumen, while Part II will test your ability to
apply that acumen to real-world scenarios. Both the exam and FPAC
Exam Prep Platform took five years to develop, with contributions
from corporate finance volunteers from around the world.

Part I: Financial Acumen

140 questions | Multiple Choice
3 testing hours

Concepts of Analysis/
Business and Projections
Finance

Business
Partnering

Systems and
Technology

CONCEPTS INCLUDE:
– Value-at-Risk – FP&A Project Management
– Growth Share Matrix – Fixed & Variable Cost
– SWOT – Zero Based Budgets
– Hedging – Data Mining
– Cost of Capital – Information Gathering
– Rolling Forecasts – Financial Functions
– Financial Reporting

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 HOW TO BEGIN YOUR FPAC JOURNEY?

Part II: Financial Analysis and Business Support

55 questions | Task-Based Simulations and Case-Analysis Problems
4 testing hours

Analysis/
Projections
Models and
Analytics
Business
Partnering

and Business
gy Communications

CONCEPTS INCLUDE:
– Building & Refining Financial Models – Revenue Projections
– Model Consistency Testing – ROI
– Variance/Ratio/Competitive Analysis – NPV
– Cash Flow – Macros
– Investment & Sensitivity Analysis – Pivot Tables
– Financial Ratios – VLookups
– Ratio Analysis – Regression Expected Value
– Data Visualization – Standard Deviation

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 HOW TO BEGIN YOUR FPAC JOURNEY?

TESTING DATES AND FEES

FPAC Examination Early Final Cancellation/ Deferral

Testing Window Application Application Refund Request Request
Deadline Deadline Deadline Deadline

August 1, 2021–
May 14, 2021 June 18, 2021 July 18, 2021 September 30, 2021
September 30, 2021 (2021B)

February 1, 2022–
November 19, 2021 December 17, 2021 January 18, 2022 March 31, 2022
March 31, 2022 (2022A)

August 1, 2022–
May 20, 2022 June 17, 2022 July 18, 2022 September 30, 2022
September 30, 2022 (2022B)

Applications received after the final postmark deadline will automatically be deferred to the next available testing window.

Fees (USD) Early Deadline Standard Deadline

AFP Member $1025 $1125

Non-Member* $1420 $1520

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 HOW TO BEGIN YOUR FPAC JOURNEY?

PREPARE WITH
THE FPAC EXAM PREP PLATFORM

AFP Financial Planning &

Analysis Exam Prep Platform

The FPAC Exam Prep Platform is the preferred

study resource for the Certified Corporate FP&A
Professional Exam and is based on the test
specifications for the 2019B - 2024A windows.

This fully digital and interactive platform

contains study materials, evaluations, sample
questions and customized progress tracking.

BUILT-IN INSTRUCTOR-LED TRAINING KNOWLEDGE CHECKS

Each chapter contains our Online Exam See how well you retain the material after
Prep Review course embedded into the each topic. See the rationale after each
platform correct or incorrect answer

PRE-TEST CASE STUDIES

Assess your current skill set Apply concepts learned to real-world
scenarios using task based simulations
MOBILE FRIENDLY
Study on your phone or tablet and all FLASHCARDS
your data and results sync seamlessly Study key concepts with interactive digital
flashcards
POST-TEST
Gauge the skills gained and identify 25 CHAPTERS
further gaps that need development Progress through both domains of the
study materials, organized by topic area

PROGRESS REPORTS
Track your progress, activities and scores

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 HOW TO BEGIN YOUR FPAC JOURNEY?

FPAC EXAM AND

PREPARATION CHECKLIST

Review the Certification Candidate Handbook, which

contains the rules, regulations and details you’ll need
to reference as you undertake and progress through
the certification process—it is a must read for all FPAC
applicants. Request yours online at www.FPACert.org/CCH

Apply for Enrollment and select a Testing Window

at www.FPACert.org/Apply

Prepare for the Exam using the FPAC Exam Prep Platform

Schedule your FPAC Exam appointment

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 WHERE DO I TAKE WHAT IS THE BEST WAY TO
FAQ’S
THE EXAM? PREPARE FOR THE EXAM?
Both parts of the FPAC Professional If you are looking for a
examination are delivered at comprehensive study tool, we offer
Pearson VUE Testing Centers, with the FPAC Exam Prep Platform.
over 5,000 locations worldwide. To We have also provided an Exam
locate the testing centers nearest Functionality Tutorial, which
to you, go to http://pearsonvue. explains how the examination
com/afp and choose “Locate a Test software and spreadsheet tool
Center”. works.

HOW MUCH TIME SHOULD WHAT ARE THE

I EXPECT TO STUDY FOR REQUIREMENTS FOR
THE EXAM? MAINTAINING THE
Candidates report that they CREDENTIAL?
committed about 80 – 100 hours of Every three years you are required
study time in total for both Exam to earn 45 continuing education
Parts. credits and submit a recertification
fee in order to maintain your
certification.
DO I TAKE BOTH PARTS OF
THE EXAM AT ONCE, OR ONE
PART PER WINDOW? HOW DO I DETERMINE IF
Each Exam Part may be taken in I AM ELIGIBLE TO ENROLL
any order, in separate windows or IN THE CERTIFICATION
together in the same window. PROGRAM?
You are not required to have fulfilled
WHAT IS THE PASSING the education and experience
requirements before taking the
SCORE FOR THE EXAM?
exam. However, the credential
The passing scaled score for both will not be awarded until those
Parts of the exam is 500. The requirements have been met. Go
raw score is converted through a to FPACert.org/EligibilityTool
statistical formula, revealing a scaled and use the eligibility tool to see
score. We do not indicate an exact what you need to do to earn the
number or percentage of questions title of Certified Corporate FP&A
that need to be answered correctly Professional.
to pass the exam. As there is no
penalty for incorrect answers, we
recommend trying to answer each
question to the best of your ability.

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www.FPACert.org

About AFP®

Headquartered outside of Washington, D.C. and located regionally in Singapore, the

Association for Financial Professionals (AFP) is the professional society committed to
advancing the success of treasury and finance members and their organizations. AFP
established and administers the Certified Treasury Professional and Certified Corporate
FP&A Professional credentials, which set standards of excellence in treasury and
finance. Each year, AFP hosts the largest networking conference worldwide for more
than 7,000 corporate financial professionals.

4520 East-West Highway, Suite 800

Bethesda, MD 20814 USA
T: +1 301.907.2862 | F: +1 301.907.2864

www.AFPonline.org

AFP, Association for Financial Professionals, the AFP logo, FPAC, Certified Corporate FP&A Professional and the FPAC logo are
registered trademarks of the Association for Financial Professionals. © February, 2021. FPAC-21_Intro_Brochure_4

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