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CSI FP2

FP2

Exam Code: FP2

Exam Name: Financial Planning II (FPII)

Updated: Oct 14, 2026

Q & A: 62 Questions and Answers

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About CSI FP2 Exam

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FP2 exam dumps

CSI FP2 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Estate Planning10%- Estate taxation and wealth transfer
- Wills, trusts, and powers of attorney
Topic 2: Retirement Planning20%- Retirement income needs analysis
- Retirement savings and withdrawal strategies
- Government and private retirement programs
Topic 3: Investment and Tax Planning10%- Investment portfolio construction
- Tax-efficient investing and income planning
Topic 4: Family Law15%- Marriage, cohabitation, and separation agreements
- Support obligations and asset division
Topic 5: Savings Planning & Debt Management10%- Savings vehicles and strategies
- Debt management and repayment plans
Topic 6: Insurance Planning10%- Property and liability risk management
- Life, disability, and critical illness insurance
Topic 7: Financial Planning Practice10%- Financial plan development process
- Client engagement and data gathering
Topic 8: Financial Planning for Small Business15%- Succession planning and exit strategies
- Business structure and financial considerations

CSI Financial Planning II (FPII) Sample Questions:

Question #1
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. 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.
D. All plan holders must purchase a life annuity in the year they reach 80 with the balance of funds remaining in the LIF.


Question #2
What factors are used for calculating contributions to an individual pension plan?

A. Annual contributions required to fund the plan must be calculated based on the age of the employee, their earnings history and the benefit formula.
B. Annual contributions are based on the employee's unused registered retirement savings plan deduction room plus 18% of their earned income from the previous year.
C. Annual contributions are based on the lesser of 18% of the employee's salary paid by the employer or half the limit for money purchase plans.
D. Annual contributions required to fund the plan must be calculated based on the age of the employee, the benefit formula and amount of business profits available.


Question #3
Spouse A, age 69, has been making regular contributions to a spousal Registered Retirement Savings Plan for spouse B, age 65. Assuming Spouse A has sufficient unused contribution room to carry forward, how long can they continue making contributions on behalf of Spouse B?

A. End of the calendar year, in which Spouse A turns 71.
B. First 60 days of the year, in which Spouse B turns 71.
C. End of the calendar year, in which Spouse B turns 71.
D. First 60 days of the year, in which Spouse A turns 71.


Question #4
The rights to spousal support for unmarried spouses is established by which legislative document?

A. Divorce Act.
B. Family Law Act.
C. British North America Act.
D. Civil Marriage Act.


Question #5
How long does an executor have to make a spousal Registered Retirement Savings Plan contribution on behalf of a deceased person?

A. The executor may contribute up to 60 days after the year-end.
B. The executor may contribute up to the end of the calendar year.
C. The executor may contribute up to 60 days after the date of death.
D. The executor may contribute up to 6 months after the date of death.


Solutions:

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

FP2 Related Exams
AFP-Exam-1 - Applied Financial Planning Certification Exam 1 (AFP)
CSC2 - Canadian Securities Course Exam2
CSC1 - Canadian Securities Course Exam 1
Related Certifications
Canadian Securities Course
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