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CSI Financial Planning II (FPII) Sample Questions:

Kienle has provided his advisor with the following information:
($)
Income last year
50,000
Pension adjustment last year
2,500
Unused contribution room from previous years
3,500
Assuming he has never over-contributed, what is the maximum amount that Kienle can put into his Registered Retirement Savings Plan without incurring a penalty?

  • A. $10,000.
  • B. $12,000.
  • C. $14,500.
  • D. $13,000.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Jo and Jordan have recently married. This is their second marriage, and they are planning to buy a cottage together. Their primary concern is leaving each of their interest to their respective children from their previous marriages. Which tenancy structure is their real estate lawyer likely to recommend?

  • A. Freehold.
  • B. Fee simple.
  • C. Joint.
  • D. Common.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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What is the maximum of the payor spouse's net income that may be deducted to fulfil child support obligations?

  • A. 60%.
  • B. 40%.
  • C. 50%.
  • D. 33%.
Reveal Solution  Discussion  0

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 exercised undue influence.
  • C. The employer influenced the object of the contract to become illegal.
  • D. The employer put the employee under certain duress.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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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 60 days after the date of death.
  • C. The executor may contribute up to 6 months after the date of death.
  • D. The executor may contribute up to the end of the calendar year.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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