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Updated: Oct 11, 2026

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CSI FP2 Exam Overview:

Certification Vendor:Canadian Securities Institute (CSI)
Exam Name:Financial Planning II (FPII)
Exam Number:FP2
Real Exam Qty:60
Exam Price:Not separately specified; course enrolment options are CAD 800 (online with PDF textbook) and CAD 875 (online with hard-copy textbook)
Exam Format:One examination, Up to 3 attempts, Multiple-choice, Remote online or in-person at a test centre, Proctored examination
Available Languages:English
Certificate Validity Period:Not applicable as a standalone certification; successful completion provides a Notice of Course Completion. Course enrolment period: 1 year.
Exam Duration:180 minutes
Passing Score:60%
Related Certifications:Personal Financial Services Advice (PFSA)
Personal Financial Planner (PFP)
Certificate in Advanced Financial Advice
Financial Planning I (FP I)
Sample Questions:CSI FP2 Sample Questions
Exam Way:Proctored examination, available remotely or in person at a test centre. The official exam page specifies a 3-hour duration, 60 multiple-choice questions, a passing grade of 60%, and up to 3 attempts.
Pre Condition:The course builds on Personal Financial Services Advice (PFSA) and Financial Planning I (FP I). Confirm current enrolment eligibility and any formal prerequisites directly with CSI.
Official Syllabus URL:https://www.csi.ca/en/learning/courses/fp2/exam-credits

CSI FP2 Exam Syllabus Topics:

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

                                                                                                                        CSI Financial Planning II (FPII) Sample Questions:

                                                                                                                        Question #1

                                                                                                                        Fatima would like to make a prepayment on her mortgage and her bank advises her that she has a closed mortgage so there will be a penalty, using the three months interest formula. Calculate the penalty, assuming that Fatima's mortgage rate is 5% with 36 months remaining and there is $250,000 balance outstanding on the mortgage.

                                                                                                                        • A. $7,493.
                                                                                                                        • B. $1,042.
                                                                                                                        • C. $4,167.
                                                                                                                        • D. $3,125.
                                                                                                                        Reveal Solution  Discussion  0

                                                                                                                        Correct Answer: D  🗳️

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                                                                                                                        Question #2

                                                                                                                        Kimberly, age 24, has few assets, and is single with no children. Kimberly has a 10-year-old niece Tanya who she would like her entire estate to be distributed to at death. She consults with her lawyer Jackie to write a will. What is the most important clause Jackie should add in Kimberly's will?

                                                                                                                        • A. Appointment of a guardian for a minor.
                                                                                                                        • B. Discretionary powers to divest assets, borrow from estate and to make investment decisions.
                                                                                                                        • C. Discretionary encroachment.
                                                                                                                        • D. Funeral instructions and requirement to pay all debts and obligations.
                                                                                                                        Reveal Solution  Discussion  0

                                                                                                                        Correct Answer: C  🗳️

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                                                                                                                        Question #3

                                                                                                                        When a Canadian works abroad for a Canadian employer, what proof must be provided to have that time qualify as residence in Canada for Old Age Security?

                                                                                                                        • A. Proof of paying Canadian Income Tax.
                                                                                                                        • B. Proof of returning to Canada within one year of ending employment and proof of paying Canadian income taxes.
                                                                                                                        • C. Proof of employment from the Canadian employer and proof of physically returning to Canada within 6 months of ending employment.
                                                                                                                        • D. Proof of Canadian Residency.
                                                                                                                        Reveal Solution  Discussion  0

                                                                                                                        Correct Answer: C  🗳️

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                                                                                                                        Question #4

                                                                                                                        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. Minimum LIF payments are fully taxable as income for the year in which they are received but minimum RRIF payments are not taxable.
                                                                                                                        • C. All plan holders must purchase a life annuity in the year they reach 80 with the balance of funds remaining in the LIF.
                                                                                                                        • D. 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.
                                                                                                                        Reveal Solution  Discussion  0

                                                                                                                        Correct Answer: A  🗳️

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                                                                                                                        Question #5

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

                                                                                                                        Correct Answer: B  🗳️

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