Center for Financial Planning

Do you aspire to be a Certified Financial Planner™?

As a Murray State University student you can become eligible to sit for the CFP™ Certification Examination…before you graduate!

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Who needs financial planning? Everyone!

The average American faces an uncertain economy and more options for saving and investing than ever before. It is easy to feel overwhelmed or confused, unless you find a way to understand the big picture. A CFP® professional can bring clarity to one’s finances and help them develop a strategy, so its easier to make financial decisions, set long-term and short-term goals and stay on track.

There are a few ways to meet the CFP Board education requirements as a Murray State University student.

  1. You can pursue an area in finance with a financial planning option.

    This is probably the most straight-forward approach. Your degree plan will identify each course that is required to graduate from Murray State. The six courses necessary to meet the CFP Board education requirements are included in your degree plan.

  2. You can pursue an area in finance, with no specific option.

    You will need to take the five additional courses that the CFP Board requires (as a finance student you will already be required to take one of the courses (FIN 333 Investments). If you carefully plan, you can schedule the other five required courses as your electives.

  3. You can pursue any major or area in the Bauernfeind College of Business.

    You will need to take the six additional courses that the CFP Board requires. If you carefully plan, you can minimize extra coursework by scheduling the required courses as your electives.

Six-Course Curriculum

  • FIN 331 - Insurance and Risk Management

  • FIN 333 - Investments

  • ACC 302 - Taxation of Persons, Property and Other Entities

  • FIN 336 - Retirement and Employee Benefits

  • FIN 338 - Estate Tax Planning

  • FIN 481 - Capstone Course: Creating and Presenting a Financial Plan


Learn the entire CFP curriculum from the comfort of your home or office. Our 9-month certificate program was designed with the working professional in mind. The entire program is on-line. You need only a computer and an internet connection. Classes meet twice weekly for two hours each session. Successful completion of the program satisfies the CFP Board’s education requirement and will allow an individual to sit for the Certified Financial Planner Examination.

Why choose the Murray State University program?

  1. Nine-month program. (Tuition cost: $3,600, textbooks not included.) Start in January…end in September. There is no reason to make a career out of studying to become a Certified Financial Planner.

  2. Experienced “Financial Planning” faculty. Each course is taught by a professional with vast financial planning education experience.

    • David Durr, Ph.D., CFA, CFP® Since 1999, Dr. Durr has been involved in financial planning education for more than a decade. He has taught more than 150 CFP review courses/classes throughout the United States. Durr has taught classes for Kaplan/Schweser and for Dalton Education. He has taught in the New York University on-line CFP Certificate Program, and is an adjunct lecturer in the Georgetown University Center for Professional Development. Durr holds the Series 7 and Series 66 NASD licenses and maintains a professional association with Institutional Capital Management, Inc., a Houston, Texas full service investment management firm.

    • Rey Belyeu, MBA, CFP®

  3. Our students get unlimited access to proprietary On-line Tutorials for help with the more complex financial planning topics. These tutorials are widely heralded as great learning tools. In carefully designed and scripted tutorials, the student is led through advanced topics. Challenging questions/problems are broken down into manageable and understandable components. The tutorials are provided to the Murray State students at no charge. Non-Murray State University students may obtain access to the tutorials by purchasing a subscription.

  4. Small classes. Some programs have as many as 80 students in an on-line class. With class sizes that large, it is impossible for every student to have the chance to be heard, to ask questions. It is anticipated that the average class size for our program will be from15-30 students. This will allow students the ability to ask questions for further clarification and understanding. You will not be invisible in our program.

  5. Advanced technology. Murray State University uses a platform called “Elluminate” to deliver the virtual classes. You will hear instructor explanations. You will learn as the instructor writes on the whiteboard. You can watch as the instructor writes on slides, or uses a virtual calculator. Have a question? Simply raise your virtual hand (click on the hand icon) and the instructor can give you the microphone. Would you rather send a text message? Elluminate allows that as well. Can’t make class tonight? No problem. All classes are recorded and available for later playback. 

Required Textbooks (PDF) (not included in tuition fee)

There is a growing awareness of the importance of financial planning, both as a component of our day-to-day lives and as a career choice for our students. Murray State recognized this importance and has created a financial planning track for undergraduate students in the Arthur J. Bauernfeind College of Business.

The degree program was designed with the Murray State University student in mind, and has proven to be quite popular with the students. Through careful scheduling of required and elective courses, Murray State students can meet the education requirement to sit for the CFP Certification Examination while earning their college degree.

Students pursuing a financial planning track must take the following courses:

  • FIN 333 - Investments (Fall)

  • FIN 336 - Retirement and Employee Benefits (Spring)

  • ACC 302 - Taxation of Persons, Property and Other Entities (Fall, Spring, Summer)

  • FIN 331 - Insurance and Risk Management (Summer)

  • FIN 338 - Estate Tax Planning (Fall)

The CFP Board of Standards registers undergraduate and graduate degree programs offered by regionally accredited U.S. colleges and universities. At a minimum, each Registered Program must cover certain topics, generally at the highest cognitive levels. Those topics are determined by a job analysis study of financial planning practitioners who are currently certified by CFP Board and entitled to use CFP Board’s certification marks. This topic list helps to ensure that the curriculum content offered by Registered Programs covers the knowledge considered important to perform the tasks required of a CFP® certificant, thus meeting marketplace requirements.

The Murray State University program is registered with the CFP Board of Standards. By successfully completing these courses, the student will have comprehensively covered all eighty-nine topic areas as required by the CFP Board of Standards.

Want more information? Talk to your collegiate academic advisor and express your interest in starting the financial planning track.


Schedule for September 2010–May 2011

*All Class Times are Central Standard

  1. Course 1: Fundamentals of Financial Planning and Insurance (FP 101)
    Tuesdays and Thursdays from 7 to 9 p.m.

  2. Course 2: Investments (FP 102)
    Tuesdays and Thursdays from 7 to 9 p.m.

    • Instructor: Dr. David W. Durr, CFA, CFP®

    • Schedule: November 16, 2010 to January 11, 2011

      No classes: November 25, December 21–30, 2010

  3. Course 3: Taxation of Persons, Property and Other Entities (FP 103)

    Tuesdays and Thursdays from 7 to 9 p.m.

  4. Course 4: Retirement and Employee Benefits (FP 104)
    Tuesdays and Thursdays from 7 to 9 p.m.

  5. Course 5: Estate Tax Planning (FP 105)
    Tuesdays and Thursdays from 7 to 9 p.m.

So, you have enrolled in a CFP program. Congratulations on this important step, and on your success thus far in your program. By now, you may realize that much of the material that is covered in a CFP Board registered program is computationally difficult and conceptually complex. To be successful, you must master the material, all the while, juggling the demands of job, family…life.

You may be interested in the line of CFP tools/tutorials that we have developed to assist CFP students, regardless of their current program of study. Our on-line tutorials focus on complex and difficult topics such as: education funding strategies and calculations, bond duration/immunization, modern portfolio theory, life insurance: taxation and policy comparisons, Social Security and Medicare, taxation, retirement plans and estate planning options. Our study aids are widely praised as professional, time-efficient, cost-effective ways to learn and reinforce the financial planning curriculum.

For more information, contact:

Dr. David Durr, CFA, CFP®

Dr. David Durr, CFA, CFP®

Professor of Finance and the Arthur J. Bauernfeind Chair in Investment Management
Arthur J. Bauernfeind College of Business

105C, Bauernfeind College of Business

Dr. David W. Durr is a professor and the Arthur J. Bauernfeind Chair in Investment Management at Murray State University. He also directs the program in personal financial planning that is registered with the Certified Financial Planner Board of Standards Inc. Durr earned a B.B.A. at the University of Texas at Austin, M.B.A. from Stephen F. Austin State University, and Ph.D. from the University of North Texas. | Dr. Durr holds the Chartered Financial Analyst designation and the Certified Financial Planner designation. He is a member of the American Finance Association, the Financial Planning Association, the Association for Investment Management and Research, and the Nashville Society of Financial Analysts. Durr is co-author of Dalton CFA® Review: Study Notes Volume I and II. (Dalton Publications, L.L.C.) He has published articles in several journals including Advances in Investment Analysis and Portfolio Management, Review of Quantitative Finance and Accounting, Managerial Finance, and Advances in Taxation. | Dr. Durr has worked with investment and financial services professionals across the country. For several years Durr has taught financial planning seminars/classes throughout the United States. Durr has taught courses in investment management, corporate finance, derivatives, portfolio management, and risk management. He serves on the board of the Murray State Federal Credit Union. He is also treasurer of the Murray Calloway County United Way.

About Arthur J. Bauernfeind

Arthur J. Bauernfeind

Arthur J. Bauernfeind

Arthur J. Bauernfeind College of Business

Dr. Arthur J. Bauernfeind is a 1960 graduate of the Arthur J. Bauernfeind College of Business and Public Affairs. Dr. Bauernfeind is one of Murray State University’s most consistent supporters. Dr. Bauernfeind is Chief Executive Officer and Chairman of Westfield Capital Management Company, LLC ("Westfield Capital"). He joined Westfield Capital in 1990, and is an Investment Strategist and Portfolio Manager with direct responsibility for covering transportation, banking and finance, economics and fixed income markets. | He is currently the Chairman of the Murray State University Foundation Board of Trustees and has been President of the school’s Alumni Association. He received the Distinguished Alumni Award from Murray State University in 1996 and was awarded an honorary doctorate in humane letters in 1998. | He is also a Trustee of the Tufts/New England Healthcare Foundation. Additionally, Dr. Bauernfeind is a director and former President of the Boston Economic Club and a member of the Boston Security Analysts Society and is a Chartered Financial Analyst. | While attending Murray State University, he participated in the Language Club, Business Club and served as Sophomore and Junior Class President. He was a member of the Sigma Chi Fraternity and the Murray State Baseball Team. Dr. Bauernfeind was also named Outstanding Freshman ROTC Cadet as well as Distinguished Military Student.

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