Asset Formation Consultant Exam | Difficulty, Study Methods, and Passing Experiences

"Maybe I should start studying investment again..." 💭
With that feeling, in February 2025, I took the Asset Formation Consultant Exam ✨

Asset Formation Consultant is a new certification accredited by the Securities Analysts Association of Japan, where you can systematically learn customer-oriented investment advice and asset management theory.
It is easy to understand if you have knowledge equivalent to FP Level 2, but it is also useful for those who want to relearn investment. 📘

Since it is a CBT format, the venue atmosphere and operation methods are a bit unique. 💻

1️⃣ State of mind before the exam

"Is this another certification business..." I thought, but the organizer is the Securities Analysts Association of Japan 🏛️
Since it is a long-standing organization, I felt at ease.
I decided to take the exam, thinking it would be interesting for reskilling in asset management.

2️⃣ How to proceed with studying

💡 Point

Quickly check the official textbook → Try the official problem collection
If you get stuck, go back to the textbook → Try again

Repeat the problem collection several times and aim to get all questions correct ✅

You can also learn portfolio theory, CAPM, and stock investment, which are not often covered in FP Level 2. 📊

3️⃣ Flow on the day of the exam

🔹 Reception and belongings

• Identity verification document (driver's license is fine)

• Exam type confirmation, explanation of precautions, and signing of the consent form

• No paper admission ticket (reception confirmation is notified to the registered email)

• Luggage goes into a locker. Only the identity verification document can be brought in

• Drinks, keys, calculators, watches, etc., cannot be brought in

🔹 Venue atmosphere

• The designated booth is like an internet cafe: a PC on the desk, with partition walls on the left and right 🖥️

• The presence of the examinee next to you is not bothersome at all

• It was winter, but the air conditioning was fine ❄️

• Ear pads are provided at the venue (those who wear glasses might want to check in advance regarding earplugs)

🔹 CBT operation

• The remaining time for the exam is displayed on the PC screen

• Calculator operation is a bit tricky, so confirming input and deletion is essential

• You can check questions you want to review later using the checkmark feature✅

4️⃣ Exam Content

• Customer-oriented sales mindset and framework

• Basics of asset management

• Portfolio theory

• Knowledge of securities investment

• Case studies📝

💬 It is easier to understand if you have knowledge of asset management but it is also a good learning experience for those who don't usually deal with it🐾💡

5️⃣ Impressions after the exam

I felt once again that portfolio theory is interesting.
While the theoretical efficient frontier cannot be created in reality, by utilizing global equity funds and the like, you can conduct portfolio management in a form close to the ideal📊

The case study questions are in a format not found in the FP exam, but they are good questions.
However, it is a shame that you cannot review after the exam📄

The operation unique to the CBT exam and the unique atmosphere of the venue were a fresh experience.

📣 Voices from readers

“The actual exam was harder than the official workbook”
“I will master the textbook before taking it on👍”

💬 Introducing some excerpts, these are the voices of those who actually experienced the real exam🐾

The actual exam is at a higher level than the official workbook.
The key to preparation is, as expected, thoroughly understanding up to the textbook level🗝️
Since past questions are difficult to use with the CBT method, these personal accounts are valuable🐾
Thank you for your feedback😊

6️⃣ Advice to readers

In terms of difficulty, it is slightly more focused on investment theory than the FP Level 2, but you can reach a passing level by repeating the textbook and workbook.

Even if you are not good at math, you can handle it by getting used to calculations and memorization.

Since it is mainly 4-choice questions, repeating the textbook and workbook is sufficient✅

It is reassuring to get used to CBT operations and the remaining time display🍵
Checking small environmental differences in advance, such as luggage management at the venue and ear pads, will make things go smoothly🌸

✅ Summary

The Asset Formation Consultant Exam is...

• Highly flexible due to the CBT method

• Perfect for stepping up after FP Level 2

• Deepen your knowledge of investment theory and case handling

• Also great for reskilling in asset management

💬 People who want to learn about investing, people who want to take another step up after FP, and people who want to try a new certification are recommended meow🐾📊

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📘 Official Textbook & Official Problem Set
If you are taking the Asset Formation Consultant Exam, the standard approach is to study with the official textbook and problem set.
You can easily reach the passing score by grasping the theory with the textbook and honing your practical skills by repeating the problem set✨
I learned this way myself, and I felt it was also perfect for reskilling in asset management🐾


⬇️Official Textbook & Official Problem Set⬇️

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