Exam Code: FP2
Exam Name: Financial Planning II (FPII)
Certification Provider: CSI
Corresponding Certification: Canadian Securities Course
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CSI Financial Planning II (FPII) Sample Questions:

Evelyn spends a great deal of her money on vacations. Consequently, her net cash flow is not as much as she would like. What is the best strategy to help Evelyn improve her cash flow?

  • A. Increase liquidity of her savings.
  • B. Set up a separate account to save for her next vacation.
  • C. Prioritize and control her spending.
  • D. Reduce non-discretionary expenses.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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What type of trust is formed when one party is unjustly enriched at the expense of another person?

  • A. Resulting.
  • B. Social.
  • C. Constructive.
  • D. Private.
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Correct Answer: C  🗳️

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An employee chose a particular contractor to repair their roof based on an employer's recommendation. The employer hinted that the employee may receive a higher future bonus if they hire the recommended contractor. How would you describe the employer's actions?

  • A. The employer misrepresented the contract to their employee.
  • B. The employer put the employee under certain duress.
  • C. The employer exercised undue influence.
  • D. The employer influenced the object of the contract to become illegal.
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Correct Answer: C  🗳️

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Maxwell is filing a rights or things tax return for his deceased mother. She had the following sources of income:
Debenture interest coupons.
Unpaid dividends declared before her death.
Old age security that was due before her death.
Income from a registered retirement savings plan (RRSP).
Which form of income will Maxwell have to exclude from the rights or things tax return?

  • A. Debenture interest coupons.
  • B. Income from an RRSP.
  • C. Unpaid dividends declared before her death.
  • D. Old age security that was due before her death.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Hannah would like to replace her current vehicle and is considering leasing instead of financing. Hannah commutes a considerable distance from outside the city each day for her work. She thinks leasing would allow her to always have a newer and more reliable vehicle. What is an important factor for Hannah to consider before making her decision?

  • A. She would require a larger down payment than if financing.
  • B. Mileage limits may add extra costs for her at the end of the lease.
  • C. The lease company covers all scheduled maintenance reducing her costs.
  • D. The payments would be higher relative to financing.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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