High-yield CSI AFP Exam 1 cheat sheet covering topic weights, applied-planning case triage, conduct, investment, tax, retirement, estate, insurance, and recommendation traps.
Use this AFP Exam 1 Cheat Sheet after the chapter map is familiar. The exam is a later-stage applied-planning paper: it expects you to connect client facts, professional conduct, investment planning, tax, retirement, risk management, estate issues, and implementation discipline inside one defensible recommendation.
| If your study goal is… | Better route |
|---|---|
| early advisory workflow, discovery, and client relationship basics | PFSA |
| broad Canadian planning foundations and topic vocabulary | FP I |
| deeper planning development and cross-topic planning mechanics | FP II |
| later applied-planning recommendation judgment | AFP Exam 1 |
| second applied-planning case follow-through | AFP Exam 2 |
| AFP Exam 1 topic | Weight | Fast exam instinct |
|---|---|---|
| Professional Conduct and Regulatory Compliance | 10% | the recommendation must be ethical, disclosed, documented, and role-appropriate |
| Client Relationship and Practice Management | 6% | client expectations, communication, and engagement scope shape the file |
| Asset and Liability Management | 11% | financial capacity, cash flow, debt, and real estate facts test feasibility |
| Risk Management and Insurance | 12% | risk transfer must match need, affordability, tax, and implementation facts |
| Investment Planning | 17% | the largest topic beside retirement; fit depends on objective, risk, account, and review |
| Tax Planning | 14% | after-tax consequences can change the ranking of plausible recommendations |
| Retirement Planning | 17% | projection, account, government benefit, and succession facts must work together |
| Estate Planning | 13% | documents, liquidity, tax, beneficiaries, and business ownership affect the final plan |
| Step | What to ask before choosing an answer |
|---|---|
| Identify the issue | What is the dominant planning problem, not just the first topic mentioned? |
| Confirm the facts | What goal, time horizon, liquidity, tax, family, business, or risk fact is missing? |
| Test fit | Does the recommendation fit capacity, risk tolerance, cash flow, and legal/tax constraints? |
| Check conduct | Is there a conflict, disclosure issue, complaint, referral, confidentiality issue, or role limit? |
| Check implementation | Can the client actually implement and sustain the recommendation? |
| Document and review | Would the file support the recommendation after a complaint, review, or life event? |
| Stem cue | Stronger response |
|---|---|
| client wants a quick answer but facts are incomplete | gather the missing facts before recommending |
| referral or compensation arrangement appears | disclose and manage the conflict properly |
| investment return looks attractive but liquidity is weak | test cash-flow and time-horizon fit before product selection |
| business ownership appears | check succession, liquidity, valuation, tax, and estate consequences |
| beneficiary or estate document appears | connect the document to tax, liquidity, family, and implementation consequences |
| retirement target appears | compare desired lifestyle, projected resources, accounts, benefits, and shortfall |
| insurance need appears | separate risk exposure, product feature, affordability, tax, and review requirements |
Before answering an AFP Exam 1 scenario, ask:
Use this free guide for review, then Start AFP Exam 1 Practice on Finance Prep for timed questions, topic drills, and detailed explanations.