First AFPK educational institution in provincial colleges, Passing rate for certification exams 2.8 times higher than national average
[2008-10-14]
Yeungnam University (President, Tong Ki Woo) is quickly emerging as a breeding place for international finance elites. According to the recently announced results of the AFPK (Associate Financial Planner Korea) certification exams, students who took the AFPK course at Yeungnam University recorded a passing rate of 79.2%. This is 2.8 times higher than the national average of 28.5%.
'AFPK' certification is a prerequisite for becoming a 'CFP (Certified Financial Planner)', which is the dream of everyone in the finance industry. This is because CFP certification exams require an AFPK to qualify for testing.
CFPs are number one in job preference in the US. It has recently become more popular in Korea as well. It is expected that after the capital market integration act is passed in the future, 50,000 CFPs will be needed. However, there are only about 1,000 CFP certificate holders in Korea. Thus, the value of AFPK holders, which is a prerequisite for becoming CFPs, are rising. In reality, AFPK certificate holders are given priority for employment in some finance institutes. Thus, competition is becoming higher.
However, there are some things that are required prior to acquiring an AFPK certificate. They are required to complete an 80 hour course at educational institutes designated by the Korea FPSB (Financial Planning Standard Board Korea).
Yeungnam University School of Economics and Finance was the first provincial college to be designated for AFPK education last May. Since then, the first AFPK course program was held from last October to this February. 41 of 58 students passed and there had a passing rate of 75%, which was 2.7 times higher than the national average at 28%. In the second AFPK course program from May to August, 42 of 53 students passed. This was a 4% increase in passing rates compared to the first program term.
This program is free while the instructors all hold CFP certificates. There are also supplementary courses and practice tests for preparation of AFPK certification exams. There are also study groups in order to provide well-organized educational support outside of classes. In result, there is no need go to Seoul to search for private academies or take online classes to prepare for employment at finance institutes. Job-seekers now have doors open to low-cost, high-efficiency education.
Weon Seungyeon (44), supervisor of the AFPK program and professor in the School of Economics and Finance, stated, "Since we now have an excellent environment for breeding finance elites with international competitiveness in our area, I hope that it will provide a lot of hope and help to students searching for a job."
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@Jungang Ilbo(2008-10-16)
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