How to apply for an AFPK® or CFP® certification renewal?
Applications through the Internet and mail are possible.
Application via the Internet: Possible at My Page after logging in at FPSB Korea's website.
Application by mail: After downloading and filling out the <CFP/AFPK Certification Application Renewal Document> from FPSB Korea website, submit the document after transferring the license fee to FPSB Korea's account.
What are requirements for AFPK certification renewal?
AFPK certifications should be renewed every 2 years, and the requirements for the renewal of AFPK certification are first acquiring consecutive educational credits and next taking an oath of ethical regulations. Acquiring consecutive educational credits plays a mandatory role in consistently maintaining AFPK certification as a specialist. In this continuously changing financial planning area, FPSB Korea considers maintaining one's capability as a specialist the most important quality, and regulating the requirements of consecutive education as one of the requirements for renewal of AFPK certification.
By maintaining the most recent knowledge of this rapidly changing field of financial planning through the requirement of consecutive education, AFPK certificants can achieve the profit of their customers. The oath of observing ethical regulations, another renewal requirement, is used to clarify whether the AFPK certificant has had reasons for disqualification during the renewal and past certification periods ,and whether the AFPK certificant voluntarily agrees to maintain the high standards of a specialist in the field of financial planning in the future as well.
Through these processes, the AFPK certificant's task of putting the client's interest as a top priority can be maintained.
Which courses are available as continuing education credits?
FPSB Korea has chosen the core topics, which a list of themes for AFPK certification, to know in order to provide a financial planning service. Credits are granted if education of the contents related to the core topics is completed, certification related to a financial planning service is acquired, or if the applicant has lectured or been published book which is related to financial planning.
What if an application for certification renewal is not submitted before the certification expiration date?
Certification should be renewed every 2 years, and then as validated, the certificant can again provide customers with financial planning services. If renewal of certification is not made by the expiration date, the certification is automatically suspended, and if the period of suspension passes a maximum of 3 years for AFPK and 5 years for CFP, the certification becomes invalid and the appropriate examinations should be retaken.
What should be done if certification is automatically suspended and a restoration is required?
If the period of automatic suspension of a certification exceeds 1 year, consecutive education credits are added according to the period calculated, and the consecutive education credits required for renewal increase. If the period of automatic suspension of certification exceeds 3 years for AFPK and 5 years for CFP, examinations should be retaken.
What are the reasons for the disapproval of the renewal of certification?
Insufficient continuing education credits: An AFPK certificant should complete 20 credits (including 2 credits of code of ethics) during the past 2 years, and a CFP certificant, 30 credits (including 2 credits of code of ethics) of consecutive education should be completed. If the credits assigned are not enough, and they do not meet the renewal requirements, renewal processing is impossible
Insufficient code of ethic education: In addition to the general education credits of AFPK and CFP, 2 credits of code ethics education designated by FPSB Korea should be completed. In other words, even if the requirements for consecutive education credits are met, the renewal process is not made unless the ethics education is also completed.
Non-payment of license fee: During the renewal, the expense for the use of the license should be paid; this is the expense incurred for the use of the mark for 2 years. If payment is not confirmed, renewal processing is impossible.
What will happen if the requirements for certification renewal are not met?
Application for renewal cannot be made when applying via Internet. If the requirements for renewal are not met within 3 months even after the application for renewal is submitted in the case of application by mail, the corresponding application is destroyed, and the license fee paid is returned. In this case, for the renewal of the AFPK certification, an application for the renewal of AFPK certification should be submitted again.
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