Certified Financial Management Specialist (CFMS)

CERTIFIED FINANCIAL MANAGEMENT SPECIALIST (CFMS) is an assessment examination of the basic knowledge in the field of financial management by the Center for Professional Advancement and Continuing Education, Inc. (CPACE Philippines). The examination is designed to assess the fundamental knowledge that an aspiring or practicing finance professional must possess. 

The CFMS assessment examination is a 4-hour exam divided into two parts, with a total  of 120 multiple choice questions. Examinees who passed and obtained formal certification of their CFMS designation have the right to promote themselves as a Certified Financial Management Specialist (CFMS).

The coverage of the two-set CFMS examination is listed below:

Part 1
• Capital Markets
• Behavioral Finance
• Credit and Collection
• Income and Business Taxation
• Financial Analysis and Reporting

Part 2
• Banking and Financial Institutions
• Fundamentals of Corporate Finance
• Financial Policy and Central Banking
• Investment and Portfolio Management
• Cash and Working Capital Management


 Category A – Graduates or currently graduating students of Financial Management, Banking and Finance, Accountancy, Accounting Technology, Economics with Finance specialization or any accounting and finance degree related.

Category B – Graduates of MS in Finance, MS in Computational Finance, Master in Business Administration with Finance specializations, or a PhD in Finance and Banking.

Category C – Faculty members teaching Financial Management, Banking and Finance, or any other finance-related subjects.

Category D – Any 4 -year degree with at least 1-year working experience in the field of financial management. Employees, officers, managers, supervisors, department heads, or any related positions in the field of finance.

• The CFMS assessment examination does not require any recertification.


1. Does the Professional Regulation Commission or the Civil Service Commission oversee the Certified Financial Management Specialist (CFMS) Assessment Exam?
The certification does not fall under the purview of the Professional Regulation Commission or the Civil Service Commission. This is not a professional license or eligibility for civil service. This is an assessment examination/certification of your skills in the field of financial management, initiated by the Center for Professional Advancement and Continuing Education, Inc. to provide an assessment examination for qualified applicants.

2. What are the advantages of taking CFMS?
This certification will be part of your credentials and can therefore give you a higher chance of employment considering the skills and knowledge you have, as confirmed by passing the examination. The list of passers will also be sent to our partner private institutions.

Being professionally certified gives you an edge over other applicants who are not especially in a highly competitive job market.

Confirms your mastery of the discipline and therefore, establishes your credibility.

Passing the exam gives you confidence and validation of your knowledge and competence in the field of financial management.

Establishes you as a continuous learner. Employers are always looking for people who never want to stop learning and it is a value unto itself.

3. What is the passing mark?
Each examinee must have a rating of 75% and must not get a score below 50% of the test. 

4. Is there a limit to how many times we can take the CFMS?
There is no limit in taking the assessment examination.

5. How do we know that we passed the examination?
You will be notified via email. Passers will also be posted at CPACE Philippines website and social media platforms.

6. What is the validity period?
The validity is lifetime. No need for renewal.

• Accomplished Online Application
• After online registration and payment, you will receive a confirmation email of your slot and the specific coverage of the examination for your reference.

Download Information Sheet

Email: cfms@cpaceph.com
Website: www.cpaceph.com
Landline: 02-85324904 | Mobile: 09562212400