PDF Version DemoCSI AFP-Exam-1 Exam Overview:
| Certification Vendor: | Canadian Securities Institute (CSI) |
|---|---|
| Exam Name: | Applied Financial Planning Certification Exam 1 (AFP) |
| Exam Number: | AFP-Exam-1 |
| Real Exam Qty: | 105 |
| Exam Duration: | 180 minutes |
| Exam Format: | Multiple Choice, Computer-Based Examination |
| Available Languages: | English |
| Exam Price: | USD 550 |
| Passing Score: | 60% |
| Related Certifications: | Personal Financial Planner (PFP®) |
| Certificate Validity Period: | Used toward PFP® certification requirements; ongoing designation maintenance requirements apply after certification |
| Sample Questions: | CSI AFP-Exam-1 Sample Questions |
| Exam Way: | Computer-based examination administered through CSI-authorized testing arrangements; AFP Exam 1 is a multiple-choice examination. |
| Pre Condition: | Candidates must complete a CSI-approved education pathway and meet AFP examination eligibility requirements before enrolment. |
| Official Syllabus URL: | https://www.csi.ca/en/learning/courses/afp |
CSI AFP-Exam-1 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Management and Insurance | 12% | - Risk Assessment - Disability and Health Insurance - Risk Transfer Strategies - Life Insurance |
| Topic 2: Retirement Planning | 17% | - Retirement Income Strategies - Retirement Needs Analysis - Registered Retirement Savings Plans - Pension Plans |
| Topic 3: Estate Planning | 13% | - Powers of Attorney - Wills - Estate Transfer Strategies - Trust and Beneficiary Planning |
| Topic 4: Professional Conduct and Regulatory Compliance | 10% | - Ethics and Professional Standards - Regulatory Requirements - Compliance Responsibilities |
| Topic 5: Investment Planning | 17% | - Investment Theory - Asset Allocation - Portfolio Construction - Investment Products |
| Topic 6: Asset and Liability Management | 11% | - Debt Management - Personal Balance Sheet Analysis - Budgeting - Cash Flow Management |
| Topic 7: Tax Planning | 14% | - Tax-Efficient Strategies - Income Tax Fundamentals - Registered Plans - Tax Deductions and Credits |
| Topic 8: Client Relationship and Practice Management | 6% | - Practice Management - Client Discovery - Communication and Advisory Process |
CSI Applied Financial Planning Certification Exam 1 (AFP) Sample Questions:
Question #1
Henry, age 48, has been working for Bac Inc, which is a federally regulated corporation, for over eight years.
He is looking to retire at age 50 and has decided to take the commuted value of his pension: $450,000, electing to transfer the eligible remainder to his RRSP (Income Tax Act maximum pension benefit transfer value of $210,000). Henry estimates he would need $1,800 (pre-tax every month) from his registered investments to meet his retirement income goal and is looking to maximize his RRSP contribution room.
Assume no inflation, an average tax rate of 15%, an unused RRSP contribution room of $90,000, and a life expectancy to age 90. What would be the required rate of return to meet Henry's goals?
A. 6,71%.
B. 3,71%.
C. 14,35%.
D. 10,09%.
Question #2
Janet's non-registered account holds the funds listed in the following table:
Assuming a marginal tax rate of 45%, what amount of tax payable will Janet incur if she redeems the account to fund the purchase of a new business?
A. $5,625.
B. $9,000.
C. $4,500.
D. $6,750.
Question #3
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 set up automatic RRSP payroll deductions.
B. Samantha should review her budget.
C. Samantha should eliminate her credit card and use her debit card for purchases.
D. Samantha should prioritize reducing her student loan debt.
Question #4
Sheeba is a financial planner and meeting with Ivana, a new client. She explains that part of her process is to recommend products and services, but prior to doing so, she will closely investigate the options to ensure they match up with Ivana's goals. Which professional responsibility has Sheeba demonstrated to Ivana?
A. Professionalism.
B. Integrity.
C. Objectivity.
D. Diligence.
Question #5
A client, age 60, is in a low tax bracket today and expects a larger taxable pension after age 65. She has TFSA and RRSP room. Which contribution priority is generally more appropriate?
A. Non-registered account only, because registered accounts are unsuitable after age 60.
B. RRSP only after the client turns 72.
C. RRSP, because withdrawals are tax-free.
D. TFSA, because withdrawals will not increase taxable retirement income.
Solutions:
| Question #1 Correct Answer: A | Question #2 Correct Answer: C | Question #3 Correct Answer: B | Question #4 Correct Answer: D | Question #5 Correct Answer: D |
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