Last Updated: Aug 03, 2026
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Estate Planning | 13% | - Trust and Beneficiary Planning - Estate Transfer Strategies - Powers of Attorney - Wills |
| Topic 2: Retirement Planning | 17% | - Retirement Needs Analysis - Registered Retirement Savings Plans - Pension Plans - Retirement Income Strategies |
| Topic 3: Asset and Liability Management | 11% | - Cash Flow Management - Budgeting - Personal Balance Sheet Analysis - Debt Management |
| Topic 4: Risk Management and Insurance | 12% | - Disability and Health Insurance - Risk Assessment - Risk Transfer Strategies - Life Insurance |
| Topic 5: Tax Planning | 14% | - Registered Plans - Tax Deductions and Credits - Tax-Efficient Strategies - Income Tax Fundamentals |
| Topic 6: Client Relationship and Practice Management | 6% | - Communication and Advisory Process - Practice Management - Client Discovery |
| Topic 7: Investment Planning | 17% | - Asset Allocation - Portfolio Construction - Investment Products - Investment Theory |
| Topic 8: Professional Conduct and Regulatory Compliance | 10% | - Regulatory Requirements - Compliance Responsibilities - Ethics and Professional Standards |
1. Jackson, a wealth advisor, is helping Terry, a self-employed IT professional, determine his net income. The goal is to develop a budget and savings strategy for the year ahead Terry has provided the information below:
What is Terry's net business income?
A) $147,300
B) $225,000
C) $220,300
D) $152,000
2. Matias is working on estate planning recommendations for his client Cynthia. After a recent meeting, Matias is confident that an estate freeze would be the best option for her. Which factor would have determined that the estate freeze was the best recommendation for him to give Cynthia?
A) The economy is about to enter a period of hyper-inflation.
B) She requires flexibility in updating beneficiaries.
C) She can afford to live on a fixed stream of income.
D) Her children have higher marginal tax rates than her.
3. Interest rates are expected to rise sharply. Which fixed-income security would normally have the highest price sensitivity to that change, all else equal?
A) Floating-rate note.
B) High-interest savings account.
C) Six-month treasury bill.
D) Twenty-year zero-coupon bond.
4. What key question should be answered during the recommending strategies stage of the financial planning process?
A) Are the client's goals feasible?
B) What are the client's needs and goals?
C) How and by whom will the planner be compensated?
D) How can the client achieve her goals?
5. During implementation, a client agrees to update her will, purchase disability insurance, and increase RRSP contributions. Which statement best describes the planner's role?
A) Focus only on the RRSP contribution because it creates an investment transaction.
B) Clarify responsibilities, timelines, and any required referrals or product steps.
C) Assume the client will implement everything without follow-up.
D) Complete the will without involving a lawyer.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: B |
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