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CSI FP2 : Financial Planning II (FPII)

FP2 real exams

Exam Code: FP2

Exam Name: Financial Planning II (FPII)

Updated: Oct 11, 2026

Q & A: 62 Questions and Answers

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CSI FP2 Exam Syllabus Topics:

SectionWeightObjectives
Investment and Tax Planning10%- Tax Planning Strategies
  • 1. RESPs, RDSPs, TFSAs and In-Trust Accounts
    • 2. Income Deferral and Income Splitting
      • 3. Tax Shelters and Tax-Efficient Strategies
        • 4. Taxation of Business Structures
          - Investment Management
          • 1. Investment Selection and Risk Management
            • 2. Modern Portfolio Theory and Asset Allocation
              • 3. Portfolio Performance Measurement and Benchmarking
                Insurance Planning10%- Disability and Health Insurance
                • 1. Government Disability Benefits and Workers' Compensation
                  • 2. Critical Illness and Long-Term Care Insurance
                    • 3. Disability Income Insurance
                      • 4. Extended Health, Travel and Group Insurance
                        - General Insurance
                        • 1. Liability and Professional Liability Insurance
                          • 2. Homeowners and Automobile Insurance
                            - Life Insurance
                            • 1. Personal and Business Applications of Life Insurance
                              • 2. Life Insurance Needs Analysis
                                • 3. Insurance Contract Provisions, Riders and Taxation
                                  Retirement Planning20%- Retirement Income Needs Analysis
                                  • 1. Canada Pension Plan and Quebec Pension Plan
                                    • 2. Old Age Security and Guaranteed Income Supplement
                                      • 3. Estimating Retirement Income Requirements
                                        • 4. Managing Retirement Income Shortfalls
                                          - Registered Pension and Retirement Income Plans
                                          • 1. Registered Pension Plans and Deferred Profit Sharing Plans
                                            • 2. Registered Retirement Income Funds and Life Income Funds
                                              • 3. Annuities and Retirement Income Products
                                                • 4. Individual Pension Plans and Executive Retirement Arrangements
                                                  • 5. Registered Retirement Savings Plans
                                                    Financial Planning for Small Business15%- Business Law and Agency Relationships
                                                    • 1. Agency Relationships
                                                      • 2. Contract Formation and Types of Contracts
                                                        • 3. Contract Termination and Discharge
                                                          - Small Business Financial Planning
                                                          • 1. Business Valuation and Employment Law
                                                            • 2. Business Structures and Entity Selection
                                                              • 3. Business Succession and Estate Freezes
                                                                • 4. Business Taxation
                                                                  Financial Planning Practice10%- The Personal Financial Planning Process in Canada
                                                                  • 1. Identifying Client Goals and Risk Profiles
                                                                    • 2. The Six Steps of the Financial Planning Process
                                                                      • 3. The Financial Planning Business Today
                                                                        • 4. Ethics and Financial Advisors
                                                                          • 5. Client Responsibilities and Professional Standards
                                                                            Family Law15%- Financial and Property Issues
                                                                            • 1. Property Division on Relationship Breakdown
                                                                              • 2. Impact of Divorce on Financial Planning
                                                                                • 3. Disclosure Requirements and Financial Obligations
                                                                                  • 4. Domestic Contracts
                                                                                    - Fundamental Aspects of Family Law
                                                                                    • 1. Marriage, Cohabitation, Separation and Divorce
                                                                                      • 2. Spousal Support and Child Support
                                                                                        • 3. Custody and Access
                                                                                          Savings Planning and Debt Management10%- Net Worth and Cash Management Planning
                                                                                          • 1. Budgeting and Savings Strategies
                                                                                            • 2. Emergency Funding
                                                                                              • 3. Net Worth and Cash Flow Analysis
                                                                                                - Debt Planning and Mortgages
                                                                                                • 1. Lease-versus-Buy Decisions and Borrowing to Invest
                                                                                                  • 2. Consumer Credit and Debt Management
                                                                                                    • 3. Debt Refinancing and Debt Service Ratios
                                                                                                      • 4. Mortgage Planning and Real Estate Ownership
                                                                                                        Estate Planning10%- Estate Distribution and Tax Planning
                                                                                                        • 1. Probate Fee and Estate Administration Cost Reduction
                                                                                                          • 2. Estate Planning for Individuals, Families and Business Owners
                                                                                                            • 3. Will Preparation and Probate
                                                                                                              • 4. Minimizing or Deferring Taxes at Death
                                                                                                                - Trusts and Powers of Attorney
                                                                                                                • 1. Incapacity Planning and Substitute Decision-Making
                                                                                                                  • 2. Types of Trusts and Trust Establishment
                                                                                                                    • 3. Powers of Attorney for Personal Care and Property
                                                                                                                      • 4. Taxation of Trusts

                                                                                                                        CSI Financial Planning II (FPII) Sample Questions:

                                                                                                                        Question #1
                                                                                                                        From the perspective of self-employment, how are personal benefits treated for the purposes of calculating child support?

                                                                                                                        A. Added to income as is.
                                                                                                                        B. Deducted from income as is.
                                                                                                                        C. Deducted from income and grossed up.
                                                                                                                        D. Added to income and grossed up.


                                                                                                                        Question #2
                                                                                                                        Nelson Smith has hired Jackie Fraser to be his financial advisor. Jackie works for FP Inc. On Nelson's behalf, Jackie has placed an order for units of the QBR Balanced Fund from QBR Investments Inc., a subsidiary of the QBR Insurance Company. Who is the principal and third-party for this transaction?

                                                                                                                        A. Jackie Fraser and QBR Investments Inc.
                                                                                                                        B. Nelson Smith and QBR Investments Inc.
                                                                                                                        C. FP Inc. and QBR Insurance Company.
                                                                                                                        D. Nelson Smith and Jackie Fraser.


                                                                                                                        Question #3
                                                                                                                        Tara bought an insurance policy on Wednesday, June 6. What date would her rescission right end?

                                                                                                                        A. Wednesday, June 20.
                                                                                                                        B. Friday, July 6.
                                                                                                                        C. Saturday, June 16.
                                                                                                                        D. Friday, June 8.


                                                                                                                        Question #4
                                                                                                                        Julien will be making a spousal Registered Retirement Savings Plan contribution for his wife. When should Julien make this contribution, in order to lessen the impact of the three-year rule?

                                                                                                                        A. February.
                                                                                                                        B. January.
                                                                                                                        C. December.
                                                                                                                        D. March.


                                                                                                                        Question #5
                                                                                                                        Maxwell is filing a rights or things tax return for his deceased mother. She had the following sources of income:
                                                                                                                        Debenture interest coupons.
                                                                                                                        Unpaid dividends declared before her death.
                                                                                                                        Old age security that was due before her death.
                                                                                                                        Income from a registered retirement savings plan (RRSP).
                                                                                                                        Which form of income will Maxwell have to exclude from the rights or things tax return?

                                                                                                                        A. Income from an RRSP.
                                                                                                                        B. Old age security that was due before her death.
                                                                                                                        C. Debenture interest coupons.
                                                                                                                        D. Unpaid dividends declared before her death.


                                                                                                                        Solutions:

                                                                                                                        Question #1
                                                                                                                        Correct Answer: D
                                                                                                                        Question #2
                                                                                                                        Correct Answer: B
                                                                                                                        Question #3
                                                                                                                        Correct Answer: C
                                                                                                                        Question #4
                                                                                                                        Correct Answer: C
                                                                                                                        Question #5
                                                                                                                        Correct Answer: A

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