For information on how to become a CLFP, click here.

For a guide on how to begin your CLFP Journey, click here.

We encourage all CLFP Candidates to review the CLFP Toolbox for helpful resources including an online glossary, a free study guide, a sample schedule to prepare.

To prepare for the CLFP Exam, begin by purchasing The Certified Lease & Finance Professionals’ Handbook. 

If you plan to earn your CLFP in 2026 and beyond, please purchase the 10th Edition, Second Printing.

The Handbook is $70, however, if multiple copies are needed, bulk discounts are available. If 5 books are ordered, there is a 5% discount; 10 books, 10% and 15 or more is a 15% discount (maximum discount). To receive a discount, orders must be placed through the Foundation. Please contact Sandy for more information: sandy@clfpfoundation.org

We have an Audiobook version of the Handbook available via Google Play - this may be downloaded here. 
Please note that this should be used in conjunction with the CLFP Handbook - as the Audiobook does not include pertinent tables, charts, and figures necessary to prepare (they cannot be communicated solely via audio).

A Kindle version may also be an option for you. The CLFP Handbook is available via Amazon for purchase.

To see the differences between Editions Six through Ten, please click here.
Much of the content is the same, but small modifications have been made, and the most significant update the change from ASC 840 to ASC 842.  If you have anything before the Sixth Edition, you will definitely need to purchase a new Handbook.

No. The CLFP Exam is based on the CLFP Handbook; the Handbook is necessary to prepare.

The Exam may be taken at any time (following payment). The Exam is proctored online and may be taken on the day and time of a candidate's choosing. You do not need to schedule an Exam with us. Once payment is received, and Exam login will be assigned to you.

Please see the Exam FAQs below for more details on how the Exam environment functions.

The Annual Recertification process happens every fall and is comprised of three things:

1. $155 fee
2. Short recertification quiz based on material provided by the Foundation which is comprised of topics that have changed within the industry for that year.
3. Pledge to abide by the Standards of Professional Conduct.

If you are no longer in good standing and would like to be reinstated, please refer to the reinstatement policy which may be found here.

All CLFPs have different 'whys' for their pursuit of the designation, but the Foundation has seen the positive impact this unique designation has on companies with multiple CLFPs on staff. If you are looking for reasons to support the designation on your team, click here.

The majority of employers do cover the costs associated with earning the designation, so check first with your employer if they will.

If they won't, there are a few options available.

• The CLFP Foundation does provide scholarship options to those seeking their CLFP designation: https://clfpfoundation.org/scholarship/
• The National Equipment Finance Association (NEFA) has the Chris Walker Fund that gives grants to candidates looking to attend an Academy and/or sit for the exam when their employer will not pay for it. More information may be found here
• The Equipment Leasing and Finance Foundation (ELFF) also offers scholarships a few times a year: Click here for more information.

• Enhanced Credibility: Shows employers, clients, and peers you possess deep, tested knowledge in leasing, credit, accounting, and regulations.
• Career Advancement: Many companies use it for promotions or prefer CLFPs for hiring, seeing it as a benchmark for excellence.
• Broader Knowledge: Covers a wide array of industry subjects (underwriting, collections, accounting, etc.), making you a more versatile professional.
• Industry Recognition: Positions you as an expert and leader in the competitive equipment finance sector. 

• Stronger Network: Connects you with a community of dedicated professionals, facilitating valuable relationships.
• Ethical Standards: Demonstrates adherence to high ethical practices, improving industry conduct.
• Giving Back: Provides opportunities to mentor and contribute to the industry's growth. 

• Commitment to Learning: Shows dedication to ongoing education and staying current with industry changes.
• Sense of Accomplishment: Completing the rigorous process provides significant personal satisfaction. 

The Exam is $695, including a non-refundable $30 background check. When bundled with the Academy for Lease & Finance Professionals, the total is discounted to $1,400.

The test-taker must have a computer with microphone and video capability.

Each should be tested prior to the Exam to ensure that the system is adequate in terms of audio/visual.  The user must also be able to access the site without issue or being blocked: www.clfptest.com/start

It is strongly encouraged that you test to ensure that you have enough RAM and a strong internet performance as without these, you will have difficulties with the exam. Please visit this page: Exam Compatibility

Be sure to test the device you are planning to use for the Exam ahead of time to ensure compatibility. Proctorio must be downloaded as an extension (this is the secure digital proctoring system), and camera and microphone capabilities must be enabled, while VPN/firewalls should be disabled for the duration of the Exam.

To test your device, download and install the Proctorio Extension, and visit the testing portal page.
Go to the CLFP Testing Portal Page.
Username: it.test
Password: Sampletest1!

From here, walk through the prompts. You should be able to engage with the testing quiz if all permissions are enabled correctly. If this is the case, your device is working and you may exit. For further assistance, please engage your IT team and contact Proctorio for further support.

If you and/or your IT department would like to test your device to ensure compatibility, work through the above well in advance of your test date to ensure things are set up correctly.

The format is a combination of multiple choice, true/false, matching, etc. All questions are automatically gradable and there are NO essays. To review the Exam outline, please click here. There are four parts to the Exam and you must execute and finish them in succession

The time allotment is 8 hours; however, each individual's time will vary between 4 and 8 hours. The test must be taken in one sitting, in order (Part I to Part IV) and the CLFP Foundation strongly encourages all test takers to budget a full 8 hours for their Exam.

A score of 75% or higher is required to pass the Exam. It is cumulative for the four parts; therefore, if you don't receive a 75% overall, the individual parts will be taken into consideration. As long as you receive a 75% on any Part, you do NOT need to take that part over again.

Candidates can be in the testing space with the following permitted items:

• One, single, blank 8x11 piece of scratch paper and a writing utensil. If used, this paper must enter the testing space as the Exam begins (during part I) and must stay on your desk for the entirety of the Exam including during breaks and must be shown during subsequent room scans.
• Wireless keyboard and/or mouse (if applicable)
• Hydration (coffee, tea, water, soda, etc.)

All candidates are expressly prohibited from having the following items in the room in which they are testing:

• Headphones, headsets, or earbuds of any kind,
• Cameras, cell phones, optical readers, or other electronic devices that include the ability to photograph, photocopy or otherwise copy test materials,
• Additional computers, monitors, PDAs, iPods, mp3 players, pagers, or other electronic devices with one or more memories,
• Any person, including friends, relatives, and children, pets,
• Notes, CLFP study materials, books, dictionaries, or language dictionaries,
• Food.
• Candidates may not use dual or multiple monitors during the Exam. If you have a second monitor, please unplug it and place it out of reach; if it cannot be moved, please cover the screens.

The 360-degree scan of a candidate's testing room and desk are to ensure that each candidate is adhering to Examination instructions and that the testing space is in compliance. The scan MUST include a 360-degree view of the entire room including the test-taker's desk at the beginning of each Part of the Examination. The Exam will prompt the test-taker to complete the scan with their camera before each Part begins. Failure to complete the room AND desk scan for any reason and/or at any required time will lead to immediate disqualification of the Exam attempt, regardless of the Exam scores. If you are attending an Academy, Mel will demonstrate the room scan in class and answer any questions you may have at that time.

If you are curious what the 360 degree room scan entails, please review this sample link: Room Scan Example
(Please note there are CLFP Exam-specific rules that need to be adhered by that are detailed in your instructions, however, the basics of the scan to include your entire desk and testing space are within the video)

If you have concerns, clarifications, or questions about this process, please email Mel for support: mel@clfpfoudation.org.

Breaks are allowed between parts but not during. The timer does not stop, and the Foundation reminds CLFP Candidates to monitor their time accordingly. It is suggested to keep breaks limited to 10-15 minutes. A meal break may be longer, but the Foundation suggests 30 minutes. You only receive a total of eight hours to test (which includes any breaks).

Breaks must be taken outside of the testing space and may be used as a time to rest, eat, hydrate, review notes and study material, etc.

The test-taker may take a break in between each part (there are four), and unless it is an absolute emergency, the test-taker should use the bathroom during the breaks only. The clock does not stop, so that time will be lost on the test and a 360-degree room view must be performed upon reentering the room

The Foundation encourages the HP 17bII or 17bII+ as there is a formula that is provided in The Certified Lease & Finance Professionals’ Handbook that is very user-friendly for pricing. Any other financial calculator will not be sufficient due to the complexity of the pricing problems.

TValue is also another option and also encouraged by the Foundation - but must be used in conjunction with the built-in computer calculator on your device for basic computations (percentages, ratios, addition, etc.). A basic hand-held calculator is not permitted if using TValue.

The Candidate must elect either the HP 17bII or bII + OR TValue as a pricing tool for the Exam. Using both tools in conjunction is strictly prohibited. For simple calculations, and/or if the test-taker is utilizing TValue as their pricing tool, it advised that the test-taker use the calculator built into their computer. A cell phone is NOT an acceptable non-financial calculator option and is NOT permitted during the Exam.

Please DO NOT contact the Foundation as we are unable to assist with any technical difficulties and it will use up your allotted time!

The program automatically saves the Exam as the test-taker goes so the individual will not lose any work.  Please refresh the browser if the website freezes. Contact Proctorio for assistance - their live chat is the best option as they can assist you quickly.

Yes. The Proctorio software will be blocked by a VPN and/or firewall set up. To avoid Exam issues, you must consult with your IT department prior to the test date. A personal device may also be used if the VPN/firewall don't have the option of being disabled on your work device. The CLFP Foundation is not responsible for any connectivity or technical issues.

You will be notified immediately whether you pass or fail. If the Exam is passed; a pass notification will be sent. If the Exam is not passed, we will provide percentages of the sections needing a higher score on the retake.. The Foundation does not provide details on questions answered (right or wrong).

If you did not pass the Exam, and need support on preparing for a retake, please email Mel for next steps: mel@clfpfoudation.org

Please allow for up to six weeks to receive your plaque after we have received confirmation of how you would like your name to appear.

As long as you remain in good standing, you do NOT have to take the CLFP Exam again. To remain in good standing, you need to pay your Annual Dues, take a brief quiz regarding changes in the industry, and sign the Pledge to adhere to the Standards of Professional Conduct.

If you don't receive a cumulative score of 75% across all four parts, and you still desire to pursue the CLFP designation, you will need to retest on the parts you didn't receive a 75% or higher score in. We cannot provide detail on specific questions missed, we will provide the sections needing a higher score on the retake.

You may retake the Exam at any time. Each reexamination fee is $265. There are no limits as to how many times you may retake; however, it must all be within one calendar year from the initial Exam. Note: Please allow up to 72 business hours after the initial Exam attempt for a new login to be assigned and an invoice to be generated.

For support with your retake, please email Mel Vinson, VP of Marketing & Development mel@clfpfoundation.org.

The class is $750 and is not mandatory, but strongly encouraged. When bundled with the Exam ($695) there is a discount and the total price is $1,400.

The ALFP is targeted towards those who are looking to become a Certified Lease & Finance Professional; however, those newer to the industry are welcome to attend as well. It builds off of The Certified Lease & Finance Professionals’ Handbook and assumes that the attendee has at least read it and has a basic concept of the equipment finance world.

If a candidate can no longer attend the Academy, written notice of cancellation for the class must be received by the CLFP Foundation no later than 30 days before the class start date, minus a $75 processing fee.

If needed, registrants may request one reschedule to a future class at no additional cost, subject to availability. Rescheduled registrations must reschedule within 12 months of the originally scheduled class date. Requests to reschedule more than once are not permitted; additional changes will require a new registration.

Reschedule requests submitted within 30 days of the class start date are not eligible for a refund and will be reviewed based on availability, however, the credit may be used toward a future Academy. The Foundation will honor your credit for a full year. After a year, the registration and payment will be deemed forfeited.

Please note that the Exam fee is non-refundable but the test may be taken any time at a later date.

No.

The Academy is a test-prep class that takes the Handbook and breaks it down so that you'll have a better idea of what you'll see on the test; however, no ALFP option can prepare an individual to be successful without having first read the Handbook.

For ALFP participants, a comprehensive Sample Exam is provided as an added benefit. If attending an ALFP, and you’re curious as to how the exam looks and feels, you may use the Sample Exam as an additional preparation tool. This will be sent prior to the ALFP.

The sample test will be available two weeks before the ALFP dates and slightly after for a total of 30 calendar days. We strongly recommend and encourage using this resource to be prepared for how the Exam will function.

PLEASE NOTE: The 30 day window is the maximum allowed, in an effort to encourage CLFP Candidates to test as close to the ALFP as possible.

If you are an online, self-paced ALFP participant, the Foundation will coordinate with you to begin your 30 day access window.

The Exam is optional, not mandatory. If you do wish to pursue the Exam, the Foundation recommends setting an Exam date, and building your study plan around it. You do not need to schedule your Exam date formally with us. Put it on your own calendar and work up to the date as you study and prepare. The Foundation will provide login information to those who are attending and ALFP and do wish to test on day 1 of the ALFP.

Absolutely! Self-studying is always an option.

The guide to hosting may be found here via the Academy for Lease and Finance Professionals Host Guide

For private Academies (for those who want to only have their employees attend), there is a 10-person attendee minimum for virtual, and 15-person minimum for in-person. Please contact Mel for more information or any questions: mel@clfpfoundation.org 

The course is available by clicking clicking here.

A prompt for the $750 fee will be the first part of accessing the course. Once payment is received, Foundation staff will register you for the course within one business day of payment, and access is granted for six months.

If you are planning on taking the CLFP Exam, then yes. The ALFP assumes a student has read and studied the Certified Lease and Finance Professionals’ Handbook.
f you plan to earn your CLFP in 2026 and beyond, please purchase the 10th Edition, Second Printing.

Yes! Once you reach out to the CLFP Foundation communicating you with to take the Exam, and payment for the Exam is received, an access code will be sent to you with a window of 30 calendar days to practice in the Sample Exam enviornment.

The course has several modules along the way to help with information retention. After registering, a link to our ALFP Toolbox will be sent with helpful information including our Exam Outline, sample problems, and more. If you plan on taking the Exam, you will also receive access to a robust sample exam upon receipt of payment for the test. Finally, the Foundation offers a mentor program for anyone who has registered and paid for the Exam.

A sample Study Guide (including a recommended calendar) can be found here.

No. The Exam is a separate cost from the ALFP.

At the conclusion of the ALFP, students may opt to take the Exam. Please complete the online application and email the CLFP Foundation (info@clfpfoundation.org) so we may provide further information such as access to the Sample Exam, Exam instructions, etc. and invoice for the Exam (if desired).

The Exam is optional at the conclusion of the course, not mandatory.

If you have not received your recertification email, please email us (renewal@clfpfoundation.org) and request the email with instructions. The process is brief and all information for the quizzes are provided to you.

The fee is $155, and a receipt will provided for reimbursement (if offered by your company).

The Exam fee that you paid covered this year's annual dues; this is for next year's. All certifications run from 1/1 to 12/31 every year.