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CSI FP2 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Insurance Planning | 10% | - Property and liability risk management - Life, disability, and critical illness insurance |
| Financial Planning Practice | 10% | - Financial plan development process - Client engagement and data gathering |
| Investment and Tax Planning | 10% | - Tax-efficient investing and income planning - Investment portfolio construction |
| Financial Planning for Small Business | 15% | - Succession planning and exit strategies - Business structure and financial considerations |
| Family Law | 15% | - Marriage, cohabitation, and separation agreements - Support obligations and asset division |
| Savings Planning & Debt Management | 10% | - Debt management and repayment plans - Savings vehicles and strategies |
| Estate Planning | 10% | - Wills, trusts, and powers of attorney - Estate taxation and wealth transfer |
| Retirement Planning | 20% | - Government and private retirement programs - Retirement savings and withdrawal strategies - Retirement income needs analysis |
CSI Financial Planning II (FPII) Sample Questions:
The Spousal Support Advisory Guidelines are not intended to apply under which circumstance?
- A. For annual incomes less than $50,000.
- B. For married couples.
- C. For annual incomes greater than $350,000.
- D. For unmarried couples.
Correct Answer: C 🗳️
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What is the most common going-concern valuation method used to determine the value of a business?
- A. Capitalization of earnings.
- B. Adjusted book value.
- C. Discounted cash flow.
- D. Liquidation value.
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. Plan holders of either type must make minimum withdrawals each year, but there is also a maximum annual amount LIF holders may withdraw.
- B. All plan holders must purchase a life annuity in the year they reach 80 with the balance of funds remaining in the LIF.
- 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: A 🗳️
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From the perspective of self-employment, how are personal benefits treated for the purposes of calculating child support?
- A. Deducted from income as is.
- B. Added to income as is.
- C. Deducted from income and grossed up.
- D. Added to income and grossed up.
Correct Answer: D 🗳️
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A Canadian resident, age 57, is self-employed and earns $74,000 in yearly income. The year's basic exemption and maximum pensionable earnings are $3,500 and $61,600, respectively. Assuming a contributory rate of 5.45%, how much will the resident pay in Canada Pension Plan premiums (rounded to the nearest dollar)?
- A. $6,333.
- B. $3,357.
- C. $6,714.
- D. $3,166.
Correct Answer: A 🗳️
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