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Last Updated: Aug 02, 2026
No. of Questions: 120 Questions & Answers with Testing Engine
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Tax Planning | 14% | - Tax Deductions and Credits - Tax-Efficient Strategies - Registered Plans - Income Tax Fundamentals |
| Topic 2: Investment Planning | 17% | - Asset Allocation - Investment Theory - Investment Products - Portfolio Construction |
| Topic 3: Professional Conduct and Regulatory Compliance | 10% | - Regulatory Requirements - Ethics and Professional Standards - Compliance Responsibilities |
| Topic 4: Client Relationship and Practice Management | 6% | - Client Discovery - Practice Management - Communication and Advisory Process |
| Topic 5: Asset and Liability Management | 11% | - Personal Balance Sheet Analysis - Budgeting - Cash Flow Management - Debt Management |
| Topic 6: Estate Planning | 13% | - Powers of Attorney - Trust and Beneficiary Planning - Wills - Estate Transfer Strategies |
| Topic 7: Retirement Planning | 17% | - Registered Retirement Savings Plans - Retirement Needs Analysis - Pension Plans - Retirement Income Strategies |
| Topic 8: Risk Management and Insurance | 12% | - Risk Assessment - Risk Transfer Strategies - Disability and Health Insurance - Life Insurance |
1. Samantha is meeting with a financial planner for the first time, seeking help with both investing and debt management. She's finding it hard to get ahead because she recently graduated with student debt, started a new career in her field, and is adding credit card debt each month. What recommendation should the financial planner propose?
A) Samantha should eliminate her credit card and use her debit card for purchases.
B) Samantha should prioritize reducing her student loan debt.
C) Samantha should review her budget.
D) Samantha should set up automatic RRSP payroll deductions.
2. Sunil and Shashi are married and both age 45. Each is the personal care Power of Attorney (POA) for the other. They have no children. Shashi would like to revise the personal care POA to ensure that it reflects her medical wishes. How should their financial planner advise Shashi to help her achieve her goal?
A) Appoint someone other than Sunil as her POA for personal care.
B) Appoint an alternate POA for personal care.
C) Utilize a living will.
D) Utilize her last will and testament.
3. Priya grants her brother trading authority over her non-registered investment account. Her brother calls the financial planner and asks for Priya's full net worth statement, tax return, and beneficiary information so he can "help with planning." What should the planner do?
A) Provide all information because trading authority gives full access.
B) Decline the request unless Priya gives specific authorization for that information.
C) Disclose the information after confirming the brother's date of birth.
D) Provide only the investment account value and refuse everything else.
4. Chris is a self-employed contractor discussing his retirement plans with his financial planner, Joseph. Chris is considering incorporating his business and drawing funds from his corporation to fund his retirement income, yet he wants to ensure it does not impact his business's financial position. What advice should Joseph give to Chris?
A) Inform Chris of the impacts of incorporating and recommend any changes he feels are appropriate.
B) Consult an online service that helps individuals incorporate.
C) Speak with a lawyer to review the impact of incorporating.
D) Speak with an accountant to review the impact of incorporating.
5. Ali wishes to retire in five years. His financial planner calculates that he needs to save an additional $40,000 to meet his retirement income objectives. What would Ali's financial planner advise him to do in order to meet his retirement income objectives?
A) Reduce current expenses.
B) Invest more in equity market to achieve a higher return.
C) Purchase a whole-life insurance and invest within the policy.
D) Take out a mortgage to invest and fund some of the retirement income shortage.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: D | Question # 5 Answer: A |
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