CSI FP2 Exam : Financial Planning II (FPII)

FP2
  • Exam Code: FP2
  • Exam Name: Financial Planning II (FPII)
  • Updated: Oct 12, 2026
  • Q & A: 62 Questions and Answers

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CSI FP2 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Financial Planning for Small Business15%- Business Law and Agency Relationships
  • 1. Contract Formation and Types of Contracts
    • 2. Contract Termination and Discharge
      • 3. Agency Relationships
        - Small Business Financial Planning
        • 1. Business Structures and Entity Selection
          • 2. Business Taxation
            • 3. Business Succession and Estate Freezes
              • 4. Business Valuation and Employment Law
                Topic 2: Retirement Planning20%- Registered Pension and Retirement Income Plans
                • 1. Individual Pension Plans and Executive Retirement Arrangements
                  • 2. Registered Retirement Income Funds and Life Income Funds
                    • 3. Registered Pension Plans and Deferred Profit Sharing Plans
                      • 4. Annuities and Retirement Income Products
                        • 5. Registered Retirement Savings Plans
                          - Retirement Income Needs Analysis
                          • 1. Estimating Retirement Income Requirements
                            • 2. Managing Retirement Income Shortfalls
                              • 3. Old Age Security and Guaranteed Income Supplement
                                • 4. Canada Pension Plan and Quebec Pension Plan
                                  Topic 3: Family Law15%- Fundamental Aspects of Family Law
                                  • 1. Spousal Support and Child Support
                                    • 2. Custody and Access
                                      • 3. Marriage, Cohabitation, Separation and Divorce
                                        - Financial and Property Issues
                                        • 1. Impact of Divorce on Financial Planning
                                          • 2. Property Division on Relationship Breakdown
                                            • 3. Domestic Contracts
                                              • 4. Disclosure Requirements and Financial Obligations
                                                Topic 4: Investment and Tax Planning10%- Investment Management
                                                • 1. Portfolio Performance Measurement and Benchmarking
                                                  • 2. Modern Portfolio Theory and Asset Allocation
                                                    • 3. Investment Selection and Risk Management
                                                      - Tax Planning Strategies
                                                      • 1. Income Deferral and Income Splitting
                                                        • 2. Taxation of Business Structures
                                                          • 3. Tax Shelters and Tax-Efficient Strategies
                                                            • 4. RESPs, RDSPs, TFSAs and In-Trust Accounts
                                                              Topic 5: Insurance Planning10%- General Insurance
                                                              • 1. Liability and Professional Liability Insurance
                                                                • 2. Homeowners and Automobile Insurance
                                                                  - Life Insurance
                                                                  • 1. Insurance Contract Provisions, Riders and Taxation
                                                                    • 2. Life Insurance Needs Analysis
                                                                      • 3. Personal and Business Applications of Life Insurance
                                                                        - Disability and Health Insurance
                                                                        • 1. Government Disability Benefits and Workers' Compensation
                                                                          • 2. Critical Illness and Long-Term Care Insurance
                                                                            • 3. Extended Health, Travel and Group Insurance
                                                                              • 4. Disability Income Insurance
                                                                                Topic 6: Financial Planning Practice10%- The Personal Financial Planning Process in Canada
                                                                                • 1. Client Responsibilities and Professional Standards
                                                                                  • 2. The Six Steps of the Financial Planning Process
                                                                                    • 3. The Financial Planning Business Today
                                                                                      • 4. Identifying Client Goals and Risk Profiles
                                                                                        • 5. Ethics and Financial Advisors
                                                                                          Topic 7: Estate Planning10%- Estate Distribution and Tax Planning
                                                                                          • 1. Estate Planning for Individuals, Families and Business Owners
                                                                                            • 2. Will Preparation and Probate
                                                                                              • 3. Minimizing or Deferring Taxes at Death
                                                                                                • 4. Probate Fee and Estate Administration Cost Reduction
                                                                                                  - Trusts and Powers of Attorney
                                                                                                  • 1. Powers of Attorney for Personal Care and Property
                                                                                                    • 2. Taxation of Trusts
                                                                                                      • 3. Incapacity Planning and Substitute Decision-Making
                                                                                                        • 4. Types of Trusts and Trust Establishment
                                                                                                          Topic 8: Savings Planning and Debt Management10%- Net Worth and Cash Management Planning
                                                                                                          • 1. Net Worth and Cash Flow Analysis
                                                                                                            • 2. Budgeting and Savings Strategies
                                                                                                              • 3. Emergency Funding
                                                                                                                - Debt Planning and Mortgages
                                                                                                                • 1. Mortgage Planning and Real Estate Ownership
                                                                                                                  • 2. Consumer Credit and Debt Management
                                                                                                                    • 3. Debt Refinancing and Debt Service Ratios
                                                                                                                      • 4. Lease-versus-Buy Decisions and Borrowing to Invest

                                                                                                                        CSI Financial Planning II (FPII) Sample Questions:

                                                                                                                        Question #1

                                                                                                                        Kienle has provided his advisor with the following information:
                                                                                                                        ($)
                                                                                                                        Income last year
                                                                                                                        50,000
                                                                                                                        Pension adjustment last year
                                                                                                                        2,500
                                                                                                                        Unused contribution room from previous years
                                                                                                                        3,500
                                                                                                                        Assuming he has never over-contributed, what is the maximum amount that Kienle can put into his Registered Retirement Savings Plan without incurring a penalty?

                                                                                                                        • A. $14,500.
                                                                                                                        • B. $13,000.
                                                                                                                        • C. $12,000.
                                                                                                                        • D. $10,000.
                                                                                                                        Reveal Solution  Discussion  0

                                                                                                                        Correct Answer: D  🗳️

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                                                                                                                        Question #2

                                                                                                                        Mr. and Mrs. Morrone are retired with two adult children, Joseph and Christine. The Morrones appointed Joseph as their power of attorney several years earlier but they have recently become concerned about him making decisions, particularly on some contentious family property. How can the Morrones address their concern?

                                                                                                                        • A. Restrict his authority to just property-related decisions.
                                                                                                                        • B. Ensure that their power of attorney is continuing and enduring.
                                                                                                                        • C. Restrict his authority to a specific period of time.
                                                                                                                        • D. Grant joint power of attorney authority to both Joseph and Christine.
                                                                                                                        Reveal Solution  Discussion  0

                                                                                                                        Correct Answer: D  🗳️

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                                                                                                                        Question #3

                                                                                                                        Hannah would like to replace her current vehicle and is considering leasing instead of financing. Hannah commutes a considerable distance from outside the city each day for her work. She thinks leasing would allow her to always have a newer and more reliable vehicle. What is an important factor for Hannah to consider before making her decision?

                                                                                                                        • A. The lease company covers all scheduled maintenance reducing her costs.
                                                                                                                        • B. She would require a larger down payment than if financing.
                                                                                                                        • C. The payments would be higher relative to financing.
                                                                                                                        • D. Mileage limits may add extra costs for her at the end of the lease.
                                                                                                                        Reveal Solution  Discussion  0

                                                                                                                        Correct Answer: D  🗳️

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                                                                                                                        Question #4

                                                                                                                        What is outside the statutory requirements of a domestic contract between parties?

                                                                                                                        • A. Each party has provided full financial disclosure.
                                                                                                                        • B. The agreement is witnessed.
                                                                                                                        • C. Each party has independent legal advice.
                                                                                                                        • D. The agreement is in writing.
                                                                                                                        Reveal Solution  Discussion  0

                                                                                                                        Correct Answer: C  🗳️

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                                                                                                                        Question #5

                                                                                                                        What type of trust is formed when one party is unjustly enriched at the expense of another person?

                                                                                                                        • A. Social.
                                                                                                                        • B. Resulting.
                                                                                                                        • C. Constructive.
                                                                                                                        • D. Private.
                                                                                                                        Reveal Solution  Discussion  0

                                                                                                                        Correct Answer: C  🗳️

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