High-yield CSI AFP Exam 2 cheat sheet covering topic weights, retirement-led case triage, follow-through planning, tax, estate, insurance, conduct, and recommendation traps.
Use this AFP Exam 2 Cheat Sheet after the chapter map is familiar. AFP Exam 2 is the later follow-through stage in the CSI applied-planning path: it expects you to update recommendations when client facts, retirement timing, tax effects, estate needs, risk exposure, conduct issues, or implementation constraints change.
| 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 mechanics | FP II |
| first applied-planning recommendation judgment | AFP Exam 1 |
| later follow-through case integration | AFP Exam 2 |
| AFP Exam 2 topic | Weight | Fast exam instinct |
|---|---|---|
| Professional Conduct and Regulatory Compliance | 10% | the updated recommendation must remain ethical, disclosed, documented, and role-appropriate |
| Client Relationship and Practice Management | 7% | communication and engagement quality control the follow-through file |
| Asset and Liability Management | 13% | cash flow, borrowing, debt, real estate, and capacity decide feasibility |
| Risk Management and Insurance | 12% | coverage must still match need after the client facts change |
| Investment Planning | 15% | portfolio fit depends on objective, account, risk, holdings, leverage, and review |
| Tax Planning | 14% | after-tax consequences often decide between plausible follow-up actions |
| Retirement Planning | 19% | the heaviest area; income timing, benefits, accounts, tax, and succession must work together |
| Estate Planning | 10% | documents, liquidity, beneficiaries, business ownership, and tax affect implementation |
| Step | What to ask before choosing an answer |
|---|---|
| Identify what changed | Which fact is new, stale, missing, or now more important? |
| Recheck the old plan | Does the prior recommendation still fit the updated facts? |
| Find the retirement effect | Does the change alter retirement timing, income, tax, benefits, or survivor needs? |
| Check implementation | Can the client carry out the next step with current liquidity, documents, and authority? |
| Check conduct | Is disclosure, consent, confidentiality, referral, complaint, or role scope now relevant? |
| Document and review | Would the file explain why the recommendation changed or stayed the same? |
| Stem cue | Stronger response |
|---|---|
| retirement date or income target changes | update projections, account sequencing, and tax impact before recommending |
| business ownership appears | check succession, valuation, liquidity, estate, and tax consequences |
| debt or real estate pressure appears | test cash-flow feasibility before adding long-term commitments |
| insurance need changes | revisit exposure, product fit, ownership, beneficiary, tax, and affordability |
| estate documents or beneficiaries appear | check whether documents, liquidity, and family intent still align |
| client wants to proceed quickly | confirm updated facts, explain trade-offs, and document understanding |
| referral or complaint issue appears | handle conduct before treating the technical strategy as ready |
Before answering an AFP Exam 2 scenario, ask:
Use this free guide for review, then Start AFP Exam 2 Practice on Finance Prep for timed questions, topic drills, and detailed explanations.