FP I Syllabus — Learning Objectives by Topic

Blueprint-aligned learning objectives for CSI Financial Planning I (FP I), organized by topic with quick links to targeted practice.

Use this syllabus as your coverage checklist for FP I. Topic weightings and exam structure are from CSI’s official Exam & Credits page; chapter outline follows the official Curriculum page.

What’s covered

Managing the Financial Planning Process (20%)

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Chapter 1 - Managing the Financial Planning Process

  • Describe the role of the Advisor.
  • Identify key responsibilities and boundaries related to the Advisor.
  • Apply the role of the Advisor to a basic client scenario to choose an appropriate next step.
  • Recognize common mistakes or misconceptions about the Advisor.
  • Explain how to meet Your Clients' Needs.
  • Identify information required to meet Your Clients' Needs.
  • Apply a client constraint to determine whether Your Clients' Needs can be met.
  • Recognize common pitfalls when trying to meet Your Clients' Needs.
  • Explain The Full Service Offer.
  • Identify key terms, inputs, and constraints relevant to The Full Service Offer.
  • Apply The Full Service Offer concepts to a basic client scenario to choose an appropriate action.
  • Recognize common pitfalls or misconceptions related to The Full Service Offer.
  • Explain The Financial Planning Process.
  • Identify key terms, inputs, and constraints relevant to The Financial Planning Process.
  • Apply The Financial Planning Process concepts to a basic client scenario to choose an appropriate action.
  • Recognize common pitfalls or misconceptions related to The Financial Planning Process.
  • Summarize key terminology and decision rules from Managing the Financial Planning Process.
  • Apply concepts from Managing the Financial Planning Process to determine an appropriate next step in a simplified client scenario.

Budgeting, Consumer Lending and Mortgages (15%)

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Chapter 2 - Budgeting and Consumer Lending

  • Prepare a basic cash flow budget and identify surplus/deficit (concept).
  • Classify cash inflows and outflows into recurring vs discretionary categories (concept).
  • Apply budgeting principles to prioritize savings and debt repayment (concept).
  • Recognize common budgeting pitfalls (one-time items, timing mismatches, optimistic assumptions) (concept).
  • Prepare Client Statements using given client information.
  • Identify the inputs required to prepare Client Statements.
  • Interpret a prepared Client Statements to identify key issues or constraints.
  • Recognize common errors when preparing Client Statements.
  • Describe the role of Financial Institutions.
  • Identify key responsibilities and boundaries related to Financial Institutions.
  • Apply the role of Financial Institutions to a basic client scenario to choose an appropriate next step.
  • Recognize common mistakes or misconceptions about Financial Institutions.
  • Explain key credit concepts (capacity, character, collateral, conditions) (concept).
  • Identify how interest rates and amortization affect total borrowing cost (concept).
  • Distinguish between secured and unsecured credit products (concept).
  • Recognize common credit risks and warning signs (concept).
  • Define common debt service ratios used in consumer lending (concept).
  • Calculate and interpret debt service ratios in a simple client scenario (concept).
  • Identify which inputs affect debt service ratios (income, debt payments, housing costs).
  • Assess whether a borrowing recommendation is reasonable given debt service ratios (concept).
  • Explain Personal Borrowing Options.
  • Identify key terms, inputs, and constraints relevant to Personal Borrowing Options.
  • Apply Personal Borrowing Options concepts to a basic client scenario to choose an appropriate action.
  • Recognize common pitfalls or misconceptions related to Personal Borrowing Options.
  • Summarize key terminology and decision rules from Budgeting and Consumer Lending.
  • Apply concepts from Budgeting and Consumer Lending to determine an appropriate next step in a simplified client scenario.

Chapter 3 - Mortgages

  • Explain Mortgage Options.
  • Identify key terms, inputs, and constraints relevant to Mortgage Options.
  • Apply Mortgage Options concepts to a basic client scenario to choose an appropriate action.
  • Recognize common pitfalls or misconceptions related to Mortgage Options.
  • Describe major mortgage features (term, amortization, interest rate type, payment frequency) (concept).
  • Differentiate between common mortgage structures (fixed vs variable, open vs closed) (concept).
  • Interpret a mortgage quote to identify key cost drivers (rate, fees, prepayment terms) (concept).
  • Recognize common borrower risks (rate reset, prepayment penalties, affordability) (concept).
  • Assess home affordability using income, down payment, and debt obligations (concept).
  • Identify key constraints that reduce affordability (existing debt, variable income, high fixed expenses).
  • Apply debt service concepts to decide whether a proposed mortgage fits the client profile (concept).
  • Recognize common pitfalls in affordability analysis (ignoring total costs, rates, or buffers) (concept).
  • Explain Creditor Insurance.
  • Identify key terms, inputs, and constraints relevant to Creditor Insurance.
  • Apply Creditor Insurance concepts to a basic client scenario to choose an appropriate action.
  • Recognize common pitfalls or misconceptions related to Creditor Insurance.
  • Explain Regulatory Considerations When Selling Creditor Insurance.
  • Identify key terms, inputs, and constraints relevant to Regulatory Considerations When Selling Creditor Insurance.
  • Apply Regulatory Considerations When Selling Creditor Insurance concepts to a basic client scenario to choose an appropriate action.
  • Recognize common pitfalls or misconceptions related to Regulatory Considerations When Selling Creditor Insurance.
  • Summarize key terminology and decision rules from Mortgages.
  • Apply concepts from Mortgages to determine an appropriate next step in a simplified client scenario.

Taxation (15%)

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Chapter 4 - Taxation

  • Explain The Canadian Tax System.
  • Identify key terms, inputs, and constraints relevant to The Canadian Tax System.
  • Apply The Canadian Tax System concepts to a basic client scenario to choose an appropriate action.
  • Recognize common pitfalls or misconceptions related to The Canadian Tax System.
  • Explain Personal Income Tax Returns.
  • Identify key terms, inputs, and constraints relevant to Personal Income Tax Returns.
  • Apply Personal Income Tax Returns concepts to a basic client scenario to choose an appropriate action.
  • Recognize common pitfalls or misconceptions related to Personal Income Tax Returns.
  • Classify common types of income used in personal tax planning (employment, business, investment) (concept).
  • Identify how different income types can change after-tax outcomes (concept).
  • Apply income classification to determine which tax forms/entries are relevant (concept).
  • Recognize common misconceptions about taxable vs non-taxable items (concept).
  • Define a tax deduction and describe how it affects taxable income (concept).
  • Differentiate between deductions and credits (concept).
  • Identify common deduction categories relevant to personal planning (concept).
  • Apply deduction concepts to estimate directionally how after-tax outcomes change (concept).
  • Define a tax credit and describe how it affects tax payable (concept).
  • Differentiate between refundable and non-refundable credits (concept).
  • Identify common credit categories relevant to personal planning (concept).
  • Apply credit concepts to compare two planning alternatives at a high level (concept).
  • Summarize key terminology and decision rules from Taxation.
  • Apply concepts from Taxation to determine an appropriate next step in a simplified client scenario.

Investments (15%)

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Chapter 5 - Investments

  • Explain the relationship between risk and expected return (concept).
  • Calculate a simple holding period return in a basic scenario (concept).
  • Explain diversification benefits and the role of correlation (concept).
  • Recognize common risk/return misunderstandings (volatility vs loss, short vs long horizon) (concept).
  • Classify major investment types (cash, fixed income, equity, funds) at a high level (concept).
  • Compare investment types by typical risk, liquidity, and return drivers (concept).
  • Choose an appropriate investment type given a simplified objective and time horizon (concept).
  • Recognize common product-fit mistakes (time horizon mismatch, liquidity constraints) (concept).
  • Explain the purpose and basic mechanics of a Registered Education Savings Plan (RESP) (concept).
  • Identify common RESP contribution and withdrawal considerations (concept).
  • Compare RESP planning considerations to other registered plans (concept).
  • Recognize common RESP planning pitfalls (beneficiary changes, withdrawal rules) (concept).
  • Explain the purpose and basic mechanics of a Tax-Free Savings Account (TFSA) (concept).
  • Identify contribution room, withdrawal, and recontribution concepts at a high level (concept).
  • Differentiate TFSA planning use cases by time horizon and tax context (concept).
  • Recognize common TFSA planning pitfalls (timing, contribution room assumptions) (concept).
  • Summarize key terminology and decision rules from Investments.
  • Apply concepts from Investments to determine an appropriate next step in a simplified client scenario.

Retirement (10%)

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Chapter 6 - Retirement

  • Explain the purpose and basic mechanics of a Registered Retirement Savings Plan (RRSP) (concept).
  • Identify common RRSP contribution, deduction, and withdrawal considerations (concept).
  • Compare RRSP planning use cases to TFSA use cases at a high level (concept).
  • Recognize common RRSP planning pitfalls (liquidity needs, withdrawal tax impact) (concept).
  • Explain the purpose and basic mechanics of a Registered Retirement Income Fund (RRIF) (concept).
  • Identify common RRIF conversion and withdrawal considerations (concept).
  • Apply RRIF concepts to a retirement cash flow scenario (concept).
  • Recognize common RRIF planning pitfalls (withdrawal sequencing, tax impact) (concept).
  • Describe the purpose and basic structure of Registered Pension Plans (RPPs) (concept).
  • Differentiate between common pension plan types at a high level (concept).
  • Interpret pension information to identify key retirement planning inputs (concept).
  • Recognize common pension planning pitfalls (inflation, survivor benefits, portability) (concept).
  • Describe the role of government pension plans in retirement income planning (concept).
  • Identify major factors that affect government pension benefits (concept).
  • Apply government pension concepts to a retirement income mix (concept).
  • Recognize common misconceptions about government pension coverage (concept).
  • Estimate retirement income needs using an income-replacement framing (concept).
  • Calculate a simple retirement funding gap and required savings rate (concept).
  • Apply time value of money concepts to retirement accumulation and decumulation (concept).
  • Recognize common retirement-planning pitfalls (longevity, inflation, sequence of returns) (concept).
  • Summarize key terminology and decision rules from Retirement.
  • Apply concepts from Retirement to determine an appropriate next step in a simplified client scenario.

Wills and Power of Attorney (15%)

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Chapter 7 - Wills and Powers of Attorneys

  • Identify key elements typically included when writing a will (concept).
  • Explain why clarity and specificity matter in will drafting (concept).
  • Describe common roles referenced in a will (executor, guardian, trustee) (concept).
  • Recognize common will-related issues that create disputes or delays (concept).
  • Describe how a will can be revoked or amended at a high level (concept).
  • Identify events that commonly trigger will reviews and updates (concept).
  • Explain risks of outdated or conflicting estate documents (concept).
  • Recognize practical issues that can invalidate or complicate amendments (concept).
  • Explain the purpose of appointing executors, guardians, and trustees (concept).
  • Identify key selection criteria for fiduciary roles (competence, conflicts, availability) (concept).
  • Apply role selection considerations to a basic family scenario (concept).
  • Recognize common mistakes when assigning fiduciary roles (concept).
  • Define intestacy and explain why it is a planning risk (concept).
  • Identify common consequences of dying without a valid will (concept).
  • Apply intestacy concepts to determine why proactive planning matters (concept).
  • Recognize common misconceptions about “default” estate outcomes (concept).
  • Define probate and describe its purpose in estate administration (concept).
  • Identify factors that can affect probate timing and complexity (concept).
  • Apply probate concepts to compare estate administration approaches (concept).
  • Recognize common probate misconceptions (concept).
  • Explain the objectives of a power of attorney in client planning (concept).
  • Identify situations where a power of attorney is particularly important (concept).
  • Differentiate between financial and personal care decision scopes (concept).
  • Recognize common pitfalls in powers-of-attorney planning (concept).
  • Explain Powers of Attorney for Property and Mandates.
  • Identify key terms, inputs, and constraints relevant to Powers of Attorney for Property and Mandates.
  • Apply Powers of Attorney for Property and Mandates concepts to a basic client scenario to choose an appropriate action.
  • Recognize common pitfalls or misconceptions related to Powers of Attorney for Property and Mandates.
  • Explain Powers of Attorney for Personal Care and Living Wills.
  • Identify key terms, inputs, and constraints relevant to Powers of Attorney for Personal Care and Living Wills.
  • Apply Powers of Attorney for Personal Care and Living Wills concepts to a basic client scenario to choose an appropriate action.
  • Recognize common pitfalls or misconceptions related to Powers of Attorney for Personal Care and Living Wills.
  • Identify indicators that a client may be vulnerable or at risk of undue influence (concept).
  • Apply a respectful fact-finding approach to confirm understanding and consent (concept).
  • Choose an appropriate escalation or protective action when red flags appear (concept).
  • Recognize documentation practices that support ethical handling of vulnerable-client situations (concept).
  • Summarize key terminology and decision rules from Wills and Powers of Attorneys.
  • Apply concepts from Wills and Powers of Attorneys to determine an appropriate next step in a simplified client scenario.

Risk Management and Life Insurance (10%)

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Chapter 8 - Risk Management and Life Insurance

  • Define risk and distinguish uncertainty from measurable risk (concept).
  • Explain how time horizon and capacity influence risk tolerance (concept).
  • Identify common risk categories relevant to personal planning (concept).
  • Recognize how risk framing can change client decisions (concept).
  • Describe core risk-management responses (avoid, reduce, transfer, retain) (concept).
  • Match a risk-management response to a basic client scenario (concept).
  • Explain how insurance fits into risk transfer decisions (concept).
  • Recognize common pitfalls in risk-management decisions (underinsurance, overconfidence) (concept).
  • Classify common personal-finance risk types (market, credit, liquidity, longevity, disability) (concept).
  • Differentiate insurable vs non-insurable risks (concept).
  • Apply risk type recognition to choose an appropriate planning tool (concept).
  • Recognize how multiple risks can interact in a client situation (concept).
  • Describe how life insurance is distributed and underwritten at a high level (concept).
  • Identify key contract features and common policy terms (concept).
  • Explain the role of regulation and disclosure in life insurance sales (concept).
  • Recognize common consumer misunderstandings about life insurance (concept).
  • Differentiate between major life insurance types (term vs permanent) at a high level (concept).
  • Compare policy types by cost structure, duration, and typical use cases (concept).
  • Choose a policy type that best fits a simplified client need (concept).
  • Recognize common pitfalls when selecting life insurance (mismatched horizon, affordability) (concept).
  • Gather key inputs needed to assess a client's life insurance needs (income, debts, dependents, goals) (concept).
  • Estimate an appropriate coverage amount using a simplified needs framework (concept).
  • Differentiate between income-replacement and capital-needs approaches (concept).
  • Recognize common insurance-needs analysis pitfalls (double counting, missing timelines) (concept).
  • Summarize key terminology and decision rules from Risk Management and Life Insurance.
  • Apply concepts from Risk Management and Life Insurance to determine an appropriate next step in a simplified client scenario.

Tip: When in doubt, restate (1) the client goal, (2) the tightest constraint, and (3) what information is missing. The “best answer” usually follows from that.

Sources: https://www.csi.ca/en/learning/courses/fp1/curriculum and https://www.csi.ca/en/learning/courses/fp1/exam-credits