FP&A Professional (FPAC) Part II 2026 Exam with Case Items

AFP The Certified Corporate FP&A Professional (FPAC)

The Certified Corporate Financial Planning & Analysis Professional (FPAC) credential, offered by the Association for Financial Professionals (AFP), is a globally recognized certification designed to validate the expertise and skills of finance professionals in the critical areas of financial planning and analysis. The FPAC certification signifies a commitment to excellence and adherence to the highest standards in the FP&A profession, equipping individuals with the knowledge and competencies required to drive organizational success through strategic financial management. This comprehensive course summary will delve into the key aspects of the FPAC certification, outlining its core content, learning objectives, and providing valuable tips for effective learning and exam preparation.

The FPAC certification curriculum is structured to cover the essential knowledge domains that a proficient FP&A professional must master. It is assessed through a two-part exam, each focusing on distinct yet interconnected areas of expertise. Part 1: Financial Planning & Analysis emphasizes the foundational principles and processes of FP&A, including information gathering, business partnering, and performance measurement. Part 2: Financial Analysis & Business Support delves deeper into analytical techniques, financial modeling, scenario planning, and effective business communication.

This demanding certification program is designed for professionals seeking to elevate their careers in corporate finance, demonstrating their ability to analyze financial data, develop robust forecasts and budgets, provide strategic recommendations, and effectively communicate financial insights to drive informed business decisions. Achieving the FPAC credential signifies a professional's mastery of the core competencies required to excel in today's dynamic and complex business environment.

Learning Objectives of the FPAC Certification Program:

Upon completion of the FPAC certification program, candidates will be able to:

1. Master the Foundational Principles of FP&A: This objective focuses on understanding and applying the core concepts and processes that underpin effective financial planning and analysis. Candidates will learn how to gather and analyze relevant qualitative and quantitative information, develop integrated financial plans, and establish robust budgeting and forecasting methodologies. This includes comprehending the relationship between financial planning and the overall strategic objectives of an organization.

2. Develop Advanced Financial Analysis and Modeling Skills: This objective emphasizes the ability to utilize sophisticated analytical techniques and build complex financial models to support business decision-making. Candidates will gain proficiency in areas such as financial statement analysis, variance analysis, investment analysis (including ROI, NPV, and IRR), scenario planning, sensitivity analysis, and the application of statistical tools for data-driven insights. This objective equips professionals to translate raw data into actionable financial intelligence.

3. Become Effective Business Partners and Communicators: This objective centers on the critical soft skills required for FP&A professionals to collaborate effectively with stakeholders across the organization and to communicate complex financial information clearly and concisely. Candidates will learn how to build strong relationships with business partners, understand their needs, and provide relevant financial support and guidance. They will also develop skills in data visualization, presentation, and interpersonal communication to effectively convey financial insights to both financial and non-financial audiences, including senior management and the Board of Directors.

4. Understand and Respond to the Evolving Business Ecosystem: This objective highlights the importance of adaptability and a strategic mindset in the FP&A profession. Candidates will learn to identify, assess, and respond to changes in the business environment, including technological advancements, economic fluctuations, regulatory shifts, and competitive pressures. They will develop the ability to integrate these external factors into financial plans and forecasts, ensuring the organization remains agile and resilient in the face of change. This objective also encompasses understanding and applying appropriate internal controls and maintaining ethical conduct in all FP&A activities.

Tips to Learn and Pass the FPAC Exam:

Preparing for the FPAC exam requires a dedicated and strategic approach. Here are some valuable tips to help you learn effectively and increase your chances of passing:

• Understand the Exam Structure: Familiarize yourself thoroughly with the FPAC exam format, including the content covered in Part 1 and Part 2, the number of questions in each part (140 for Part 1 and 55 for Part 2, according to one source), the time allotted for each part, and the scoring methodology. Understanding the structure will help you allocate your study time effectively.

• Utilize Official Study Resources: The AFP provides official study materials, including workbooks and practice questions. These resources are aligned directly with the exam content and are invaluable for understanding the key concepts and testing your knowledge. Prioritize using these official materials as your primary study guide.

• Focus on Key Knowledge Domains: The FPAC exam specifications outline the weightage of different knowledge domains in each part of the exam. Allocate your study time based on these weightages, ensuring you dedicate sufficient attention to the areas that carry more significance. For Part 1, focus on Financial Planning & Information Gathering, Budgeting & Forecasting, and Business Partnering. For Part 2, prioritize Analysis & Projections, Models & Analytics, and Business Communication.

• Practice Regularly with Sample Questions: Working through practice questions is crucial for reinforcing your understanding of the concepts and familiarizing yourself with the style and difficulty level of the exam questions. Utilize the practice questions provided in the official study materials and seek out additional sample questions if possible.

• Develop Strong Financial Modeling Skills: Financial modeling is a core competency assessed in the FPAC exam, particularly in Part 2. Practice building and analyzing various types of financial models, including forecasting models, valuation models, and scenario planning models. Ensure you are comfortable with Excel and understand best practices in model design and assumptions.

• Enhance Your Analytical Skills: The exam heavily emphasizes the ability to analyze financial data and derive meaningful insights. Practice analyzing financial statements, calculating key ratios, performing variance analysis, and interpreting financial results in a business context. Develop your critical thinking and problem-solving skills.

• Improve Business Communication Skills: The ability to communicate financial information effectively is a key aspect of the FPAC curriculum. Practice presenting complex financial issues clearly and concisely, both verbally and in writing. Develop your data visualization skills to effectively convey financial insights through charts and graphs.

• Network with Other FP&A Professionals: Engage with other FP&A professionals through online forums or study groups. Sharing insights and discussing challenging concepts can significantly enhance your learning experience.

• Manage Your Time Effectively: Create a realistic study schedule and stick to it. Break down the curriculum into manageable topics and allocate specific time slots for each. Ensure you leave sufficient time for review and practice exams as you get closer to the exam date.

• Consider a Review Course: If you find it beneficial, consider enrolling in a reputable FPAC review course offered by training providers. These courses often provide structured learning, expert guidance, and additional practice materials.