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Applied Financial Planning

Here you have the best Canadian Securities Institute AFP practice exam questions

  • Preview the first 5 of 103 questions for free
  • These questions were last updated on June 14, 2026
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Question 1 of 103

Anthony, age 65, is concerned about his taxes payable in the event of his death. Anthony is divorced and has named his sister Maria as the beneficiary on his will. He has the following assets:

Exam AFP: Image 1

If Anthony were to die today, what would be the total income taxable on his assets?

Answer

Suggested Answer

The suggested answer is B.

Question 2 of 103

Justis, age 62, and his wife Jen, age 58, are meeting with their financial planner, Luke. They are both planning to retire by age 65. Their goals are to minimize debt and reduce taxes. The couple's financial situation is outlined below.

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Justis' annual income is $25,000. He has a $15,000 RRSP, $30,000 single non-registered account and a $25,000 TFSA. Jen's annual income is $60,000, and she has a $150,000 RRSP, $50,000 single non-registered account and a $20,000 TFSA.

Jen's marginal tax rate is 35%, and Justis' is 25%. Assuming all investments are making interest income of 10%, what would be the most appropriate strategy for Luke to recommend for the couple?

Answer

Suggested Answer

The suggested answer is B.

Question 3 of 103

Janet's non-registered account holds the funds listed in the following table:

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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?

Answer

Suggested Answer

The suggested answer is D.

Question 4 of 103

Consider the following information for a client's portfolio:

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What is the annual rate of return for this portfolio?

Answer

Suggested Answer

The suggested answer is A.

Question 5 of 103

Claremont is reviewing his client's portfolio to determine the overall return over the past 12 months using the information provided in the table.

Exam AFP: Image 1

What is the holding period return of the portfolio over the year?

Answer

Suggested Answer

The suggested answer is C.

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