There’s Lies, There’s Damn Lies and then There’s CFP Review Advertising....

Here’s a website ad that has been running for some time by The College for Financial Planning:

“Be among 86% of our students who pass the CFP® Exam the first try.”

What exactly does that mean? 

Does that mean 86% of their total students pass the CFP exam?  NO

Does that mean they have an 86% pass rate?  NO

Here’s what I think it means...The marketing dept from the College was given the job of making up a BIG FAT LIE about their pass rate, which would be defensible in court (legalistic truth).  I may not know a p value from standard deviation, but let me tell you, if you believe that the College for Financial Planning has a first time pass rate of 86% on the CFP® Certification Examination, I have an investment bank that I want to sell you.  Pure chutzpah, absolute hogwash...I await someone from the Cffp to delineate exactly what this statement means. 

Here’s a question:  Do you want to take a CFP® review from someone who is going to lie to you to get you to enroll?

At Dalton Education, we don’t play games with our advertising.  Our pass rates are consistently 20-25% higher than the national average.  On the March 2008 exam our pass rate was 74%, in July 2008 our pass rate was 73%.  So, for every 100 students in our review, 73 of them passed the July CFP® exam.  Now that’s a statistic that has meaning!

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