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CSI FP2 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Investment and Tax Planning | 10% | - Investment strategies and portfolio considerations - Tax planning concepts |
| Family Law | 15% | - Family property and financial considerations - Legal implications in financial planning |
| Retirement Planning | 20% | - Retirement income sources and strategies - Government benefits and retirement plans |
| Financial Planning Practice | 10% | - Professional standards and ethical practices - Financial planning process and client relationship management |
| Insurance Planning | 10% | - Insurance needs analysis - Risk management and insurance products |
| Savings Planning & Debt Management | 10% | - Debt management techniques - Savings strategies and cash flow management |
| Financial Planning for Small Business | 15% | - Small business financial strategies - Business ownership structures and planning |
| Estate Planning | 10% | - Estate transfer strategies - Wills, trusts and succession planning |
CSI Financial Planning II (FPII) Sample Questions:
Xavier is a high-net-worth client in the highest tax bracket. He has maximized his child's registered education savings plan, and is interested in setting up an informal trust account to supplement his child's education savings. What is the most appropriate investment vehicle for this account to minimize taxes for Xavier?
- A. Equity mutual funds with focus on capital gains.
- B. Government of Canada Bond.
- C. Mature stocks paying dividends.
- D. Guaranteed Investment Certificate.
Correct Answer: A 🗳️
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What is the primary difference between a Life Income Fund (LIF) and a Registered Retirement Income Fund (RRIF)?
- A. All plan holders must purchase a life annuity in the year they reach 80 with the balance of funds remaining in the LIF.
- B. Plan holders of either type must make minimum withdrawals each year, but there is also a maximum annual amount LIF holders may withdraw.
- C. RRIFs may be purchased with a registered retirement savings plan, another RRIF or pension funds that are not locked-in, but a LIF can only be purchased with funds from a retirement compensation arrangement.
- D. Minimum LIF payments are fully taxable as income for the year in which they are received but minimum RRIF payments are not taxable.
Correct Answer: B 🗳️
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Bonny is looking to lease a vehicle. Here is the information given to her by the salesperson:
Net capitalized value
$25,000
Monthly payments
$300
Term of the lease
48 months
Residual value
$13,450
Sales taxes on residual value
$1,749
Down payment (including taxes)
$4,500
What is the total cost of leasing?
- A. $18,900.
- B. $34,099.
- C. $30,299.
- D. $43,900.
Correct Answer: A 🗳️
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Which term describes an attempt to create a tax system that gives no preference to the form of ownership?
- A. Graduated rates.
- B. Equilibrium.
- C. Equalization.
- D. Integration.
Correct Answer: D 🗳️
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In November 2018, Leon put his former wife Betty on notice that her current child support payments were insufficient and that he would be seeking an increase. From what date may a retroactive change to child support apply?
- A. November 2015.
- B. November 2013.
- C. November 2017.
- D. November 2016.
Correct Answer: A 🗳️
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