CSI Financial Planning II (FPII) : FP2

  • Exam Code: FP2
  • Exam Name: Financial Planning II (FPII)
  • Updated: Oct 15, 2026     Q & A: 62 Questions and Answers

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CSI FP2 Exam Syllabus Topics:

SectionWeightObjectives
Insurance Planning10%- Insurance needs analysis
- Risk management and insurance products
Financial Planning for Small Business15%- Small business financial strategies
- Business ownership structures and planning
Family Law15%- Legal implications in financial planning
- Family property and financial considerations
Retirement Planning20%- Government benefits and retirement plans
- Retirement income sources and strategies
Investment and Tax Planning10%- Investment strategies and portfolio considerations
- Tax planning concepts
Savings Planning & Debt Management10%- Debt management techniques
- Savings strategies and cash flow management
Estate Planning10%- Estate transfer strategies
- Wills, trusts and succession planning
Financial Planning Practice10%- Financial planning process and client relationship management
- Professional standards and ethical practices

CSI Financial Planning II (FPII) Sample Questions:

Question #1

Jo and Jordan have recently married. This is their second marriage, and they are planning to buy a cottage together. Their primary concern is leaving each of their interest to their respective children from their previous marriages. Which tenancy structure is their real estate lawyer likely to recommend?

  • A. Freehold.
  • B. Fee simple.
  • C. Common.
  • D. Joint.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #2

What tax consideration should employers take into account when setting up a supplemental executive retirement plan (SERP)?

  • A. The employer does not receive a tax deduction for the SERP contribution until the employee receives the benefits.
  • B. A SERP is eligible to be registered with the CRA provided that the employer makes a minimum contribution on behalf of the employee based on a percentage of the company's profits.
  • C. When a SERP is registered with the Canada Revenue Agency (CRA) under the Income Tax Act, it provides for the employers contributions to be tax-deductible.
  • D. A SERP permits higher tax-deductible contributions by the employer than those allowed under a registered retirement savings plan.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #3

Chris reviewed the current investment portfolio of his client, Judy. Chris determined that Judy needs a higher rate of return in order to retire within five years. Judy's portfolio is concentrated in fixed income instruments.
What is Chris's next step to help Judy achieve her retirement goal?

  • A. Determine whether Judy can save more money.
  • B. Determine the type of investments for Judy's portfolio.
  • C. Determine how Judy can achieve her retirement goal.
  • D. Determine an acceptable level of risk for Judy's portfolio.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #4

In order to complete the analysis and development of a financial plan, an advisor receives a client's investment statements and tax returns. From the perspective of principle six (code of ethics), what action should the advisor take in order to maintain a relationship of trust and confidence?

  • A. Using the data to investigate products before making a recommendation.
  • B. Making product suggestions that strictly benefit the client's overall financial positioning.
  • C. Referring the client for needs to other professionals within the advisor's network.
  • D. Securing the documents to be used by authorized personnel only.
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Correct Answer: D  🗳️

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Question #5

The following table outlines details for a life insurance policy issued in 1995:
Details
Amounts
Cash surrender value
$8,000
Premiums paid
$6,000
Dividends declared
$1,500
Net cost of pure insurance
$750
Marginal tax rate
30%
Assuming the policy is completely surrendered, what are the taxes payable?

  • A. $825.
  • B. $1,275.
  • C. $4,250.
  • D. $2,750.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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