CFP® — FP Canada CFP Companion Prep Study Plan
A practical Study Plan for FP Canada CFP Companion Prep candidates, with 7-day, 14-day, 30-day, and 60/90-day schedules.
How to use this Study Plan
This Study Plan is for candidates preparing for FP Canada CFP Companion Prep for the CFP® credential through FP Canada. It is designed for working professionals who need to turn limited study time into a practical schedule.
CFP® preparation should not be only reading. The exam rewards applied financial planning judgment: reading client facts, identifying the planning issue, choosing a suitable action, recognizing compliance or documentation concerns, and avoiding answers that are technically true but unsuitable for the client.
Use the schedule that matches your time remaining. If you are unsure, start with a timed diagnostic set, review every miss, and choose the shortest plan that still leaves time for full review.
Which plan should you use?
| Time remaining | Best fit | Weekly study target | Main objective | Mock exam approach |
|---|---|---|---|---|
| 7 days | You have already studied and need final review | 18-25 hours | Triage weak areas, redo missed questions, rehearse timing | One timed mixed session or partial mock early; avoid over-testing |
| 14 days | You know the material unevenly and need focused coverage | 35-50 hours | Cover high-yield planning areas, then integrate cases | Diagnostic on Day 1; one full timed mock or large timed simulation in Week 2 |
| 30 days | You need a balanced plan with topic coverage and review | 60-90 hours | Build topic competence, then shift to case-based application | Diagnostic in Week 1; full mock in Week 3; final timed set in Week 4 |
| 60/90 days | You are starting early or rebuilding fundamentals | 100+ hours, as available | Learn, drill, integrate, and refine pacing | Multiple mocks spaced out, with deep review between them |
If you are behind, do not try to “finish every resource.” Prioritize: current exam guidance, core financial planning topics, mixed case practice, and explanation review.
Set up your study system first
Before starting any schedule, spend 45-60 minutes building a simple study control system.
| Setup item | What to do |
|---|---|
| Exam guidance | Use the current FP Canada exam instructions and candidate materials as your authority for format, timing, and permitted tools. |
| Topic map | Create a checklist covering financial planning process, ethics and professional responsibilities, financial management, tax, investments, retirement, insurance/risk management, estate/legal planning, and integrated cases. |
| Diagnostic baseline | Complete 40-60 mixed questions or a timed case set before reviewing notes. |
| Error log | Track every miss, guess, and slow question. The log is more valuable than the score. |
| Calendar | Block study sessions as appointments. Include review time, not just question time. |
Daily practice rhythm
Use this rhythm on most study days. Adjust the length, but keep the order.
| Step | Time | Action |
|---|---|---|
| Quick recall | 10 minutes | Write down yesterday’s weak rules, formulas, or decision points from memory. |
| Focused review | 30-60 minutes | Study one topic or subtopic. Do not read passively; create decision rules. |
| Practice set | 45-75 minutes | Complete topic drills or mixed case questions under light timing. |
| Explanation review | 30-45 minutes | Review every question, including correct guesses. Identify why each wrong option was wrong. |
| Error log update | 10-15 minutes | Record the issue, the correct reasoning, and the trigger you missed. |
| Closeout | 5 minutes | Choose tomorrow’s first task before stopping. |
If you only have 45 minutes
- Review 5-10 error-log items.
- Complete 10-15 targeted questions.
- Review explanations immediately.
- Write one rule you will apply next time.
If you have 90 minutes
- Spend 20 minutes on focused review.
- Complete 30-40 questions or one case set.
- Spend 30 minutes reviewing explanations and updating your log.
If you have 3 hours
- Complete one timed mixed block.
- Take a short break.
- Review the block deeply.
- Rework missed calculations or planning decisions without looking at the explanation.
CFP® topic rotation
Use this rotation to avoid overstudying comfortable topics while neglecting applied planning areas.
| Topic area | What to practice | Common review questions |
|---|---|---|
| Client discovery and planning process | Fact finding, goals, constraints, assumptions, next-best action | Did I use all client facts? Did I recommend before gathering enough information? |
| Ethics and professional responsibilities | Conflicts, disclosure, documentation, client interests, professional conduct | What should the planner do first? What must be documented? |
| Financial management | Cash flow, debt, emergency planning, budgeting, net worth | Is the recommendation realistic for the client’s liquidity and goals? |
| Tax planning | Marginal tax logic, deductions/credits at a conceptual level, registered vs non-registered treatment, business-owner considerations | Did I apply tax logic from the current materials rather than memory? |
| Investment planning | Risk tolerance, time horizon, diversification, product suitability, portfolio review | Is the product suitable, or merely plausible? |
| Retirement planning | Retirement income sources, accumulation vs decumulation, sequencing, survivor needs | Did I connect income need, time horizon, tax, and risk? |
| Insurance and risk management | Coverage needs, disability, critical illness, life insurance, beneficiary and ownership issues | What risk is being transferred? Is coverage type aligned to the need? |
| Estate and legal planning | Wills, powers of attorney/mandates, beneficiary designations, estate liquidity, family issues | What happens if the client dies or becomes incapable? |
| Integrated cases | Multi-topic fact patterns and prioritization | What is the most important issue, not just a true statement? |
7-day final review plan
Use this if the exam is about one week away and you have already completed most instruction. This is not the time to rebuild from scratch.
| Day | Main goal | Study actions |
|---|---|---|
| Day 1 | Diagnose and triage | Complete a timed mixed set or partial mock. Build a top-10 weakness list. Sort misses by topic and error type. |
| Day 2 | Planning process, ethics, and documentation | Review client engagement, fact gathering, recommendation logic, conflicts, disclosure, and professional responsibility scenarios. Drill applied judgment questions. |
| Day 3 | Tax, financial management, and retirement | Review tax logic, cash flow, debt, retirement accumulation/decumulation, registered plan concepts, and calculation setups from your materials. |
| Day 4 | Investments, insurance, and risk | Drill suitability, risk tolerance, portfolio recommendations, coverage distinctions, beneficiary/ownership issues, and needs analysis logic. |
| Day 5 | Estate/legal and integrated cases | Work mixed cases. Practice identifying the highest-priority issue and the next appropriate planning step. |
| Day 6 | Error-log rebuild | Redo missed questions without looking at answers. Review formulas, definitions, and decision rules. Stop adding new resources. |
| Day 7 | Light review and logistics | Review condensed notes only. Confirm exam logistics, timing rules, identification, calculator/tool rules, and rest plan. Avoid heavy new practice. |
7-day rules
- Stop opening new study sources by Day 6.
- Do not take multiple full mocks in the final week if they prevent review.
- Redo missed questions until you can explain the right answer in one or two sentences.
- Keep calculation practice short and accurate; avoid late-night marathon sessions.
- Prioritize sleep and exam logistics during the final 24 hours.
14-day focused plan
Use this if you have two weeks and need both content repair and exam-mode practice.
| Day | Focus | Practice target |
|---|---|---|
| 1 | Diagnostic mixed set | 40-60 questions or a timed case set; build error log |
| 2 | Financial planning process and ethics | Scenario questions on client facts, conflicts, documentation, and next steps |
| 3 | Financial management and tax logic | Cash flow, debt, net worth, tax treatment, and calculation setup drills |
| 4 | Investment planning | Risk profile, suitability, diversification, product comparison, portfolio review |
| 5 | Retirement planning | Accumulation, income planning, sequencing, survivor considerations |
| 6 | Insurance and risk management | Needs analysis logic, policy purpose, ownership, beneficiary, coverage distinctions |
| 7 | Estate/legal planning | Wills, incapacity planning, estate liquidity, family and beneficiary issues |
| 8 | Integrated case day | Mixed cases covering at least three planning areas per case |
| 9 | Weak area repair | Re-study your two weakest topics; redo missed questions |
| 10 | Timed mock or large simulation | Match the current FP Canada exam timing instructions as closely as possible |
| 11 | Mock review | Spend at least as long reviewing as you spent testing |
| 12 | Applied planning judgment | Drill “best next step,” “most suitable recommendation,” and “client priority” questions |
| 13 | Final mixed review | Light timed set, formula review, ethics review, and error-log redo |
| 14 | Exam-eve routine | Condensed notes, logistics, rest, and no heavy new material |
14-day priority order
If you run out of time, prioritize in this order:
- Missed-question review.
- Integrated case practice.
- Ethics, client process, and professional judgment scenarios.
- Weak technical topics that repeatedly cause misses.
- Passive rereading, only if it supports a specific weakness.
30-day balanced plan
Use this if you have about a month. The goal is to move from topic knowledge to integrated decision-making by the middle of the plan.
Week 1: Baseline and core framework
| Day | Task |
|---|---|
| 1 | Take a diagnostic mixed set. Create your error log and topic checklist. |
| 2 | Review planning process, client engagement, fact gathering, and recommendation steps. |
| 3 | Study ethics, professional responsibilities, conflicts, disclosure, and documentation. |
| 4 | Review financial management: cash flow, debt, emergency needs, net worth, budgeting. |
| 5 | Review tax planning logic using your current materials. |
| 6 | Complete mixed drills on Week 1 topics. |
| 7 | Review misses and write a one-page “planning process and ethics” sheet. |
Week 2: Technical planning areas
| Day | Task |
|---|---|
| 8 | Investment planning: risk, suitability, diversification, portfolio recommendations. |
| 9 | Investment practice set plus explanation review. |
| 10 | Retirement planning: income needs, accumulation, decumulation, sequencing. |
| 11 | Retirement practice set plus formula and assumption review. |
| 12 | Insurance and risk management: coverage needs, policy purpose, ownership, beneficiary issues. |
| 13 | Estate/legal planning: wills, incapacity, beneficiary designations, estate liquidity. |
| 14 | Mixed review of investments, retirement, insurance, and estate. |
Week 3: Integration and timing
| Day | Task |
|---|---|
| 15 | Integrated cases: identify client goals, constraints, and priority issue. |
| 16 | Mixed case practice: tax plus retirement plus investment. |
| 17 | Mixed case practice: insurance plus estate plus cash flow. |
| 18 | Timed mini-mock or large question block. |
| 19 | Deep review of timed block. Rework all misses and guesses. |
| 20 | Weak-topic repair session. |
| 21 | Full mock or closest available timed simulation using current FP Canada timing instructions. |
Week 4: Final repair and readiness
| Day | Task |
|---|---|
| 22 | Review mock results. Identify recurring errors, not just weak topics. |
| 23 | Re-study the two weakest technical areas. |
| 24 | Re-study ethics, process, documentation, and suitability judgment. |
| 25 | Complete a timed mixed set focused on weak areas. |
| 26 | Redo missed questions from the entire month. |
| 27 | Final timed set or partial mock. |
| 28 | Review explanations and update condensed notes. |
| 29 | Light formula, terminology, and decision-rule review. Stop adding new content. |
| 30 | Exam-eve routine or buffer day. |
60/90-day full preparation path
Use this if you are starting early, returning after a study break, or rebuilding technical knowledge. The longer path gives you time to learn, forget, retrieve, and correct.
| Phase | 60-day version | 90-day version | Main work |
|---|---|---|---|
| Phase 1: Foundation | Weeks 1-2 | Weeks 1-3 | Learn the planning process, ethics, and core topic framework. Start light drills immediately. |
| Phase 2: Topic coverage | Weeks 3-5 | Weeks 4-7 | Work through financial management, tax, investments, retirement, insurance, and estate/legal planning. |
| Phase 3: Integration | Weeks 6-7 | Weeks 8-10 | Shift to mixed cases, timed sets, and multi-topic reasoning. |
| Phase 4: Final review | Final 10-14 days | Final 10-14 days | Mock review, error-log redo, weak-area repair, and exam logistics. |
Weekly pattern for a 60/90-day plan
| Study day | Focus |
|---|---|
| Day 1 | Learn or review one topic area. Create decision rules. |
| Day 2 | Complete topic drills and review explanations. |
| Day 3 | Study a second topic area. |
| Day 4 | Complete drills on the second topic. |
| Day 5 | Mixed practice across all prior topics. |
| Day 6 | Case-based practice or timed block. |
| Day 7 | Error-log review, rest, and schedule adjustment. |
Mock exam timing for longer plans
| Timing | What to do | Purpose |
|---|---|---|
| Early diagnostic | First 1-2 weeks | Establish baseline and identify starting weaknesses. |
| Midpoint mock | Around the middle of the plan | Test retention and pacing after topic coverage. |
| Integration mock | 2-3 weeks before exam | Practice full-length stamina and mixed-topic judgment. |
| Final mock or timed simulation | 7-10 days before exam | Confirm readiness and identify final repair items. |
Always review a mock before taking another one. A second score is less useful if you have not corrected the first set of errors.
Missed-question review method
A missed-question log should tell you why you missed the question and how to avoid repeating the error.
| Error type | What it means | Fix |
|---|---|---|
| Client fact missed | You overlooked age, family status, income, risk tolerance, liquidity, time horizon, or goal priority | Highlight facts before looking at answer choices |
| Rule or concept gap | You did not know the planning rule, term, or product feature | Add a short note and drill 5-10 similar questions |
| Suitability error | You chose a technically valid answer that did not fit the client | Write why the recommendation is unsuitable |
| Sequence error | You recommended before gathering facts or documenting the issue | Practice “next best step” questions |
| Calculation setup error | You knew the math but used the wrong inputs or order | Rework the problem from a blank page |
| Compliance/documentation miss | You ignored conflict, disclosure, consent, or recordkeeping implications | Add the required action to your decision rule |
| Trap answer | You selected a familiar phrase that did not answer the question | Explain why each wrong answer is wrong |
The 3-pass review
- Immediate review: Read the explanation and identify the tested concept.
- Same-day redo: Re-answer the question without looking at the explanation.
- Delayed redo: Rework it 3-5 days later. If you miss it again, move it to your high-priority list.
How to use practice resources
| Resource type | Best use | Avoid |
|---|---|---|
| Topic drills | Build accuracy after studying a topic | Doing drills without explanation review |
| Free practice exams | Early diagnostic or light exposure to format | Treating a free score as a readiness guarantee |
| Mixed question sets | Build recall across topics | Using them before you understand basic concepts |
| Case-based practice | Improve applied planning judgment | Reading cases passively without choosing an answer first |
| Full mock exams | Test timing, stamina, and integration | Taking too many in the final week |
| Explanation review | Convert mistakes into rules | Skipping correct answers that were lucky guesses |
Calculation and formula practice
CFP® preparation includes applied calculations, but the main skill is choosing the right setup from client facts. Use current materials for any rates, thresholds, assumptions, or tax rules.
Practice calculations in three passes:
- Setup only: Identify the required calculation and inputs.
- Full calculation: Work it carefully and label each step.
- Interpretation: State what the result means for the client recommendation.
Useful calculation review categories include:
- Net worth and cash flow.
- Debt service and affordability logic.
- Investment return, risk, and portfolio allocation concepts.
- Retirement income needs and accumulation/decumulation planning.
- Insurance needs analysis.
- Estate liquidity needs.
- Taxable vs tax-advantaged planning comparisons.
Do not memorize outdated figures from memory. Use the current rules, assumptions, and reference materials expected for your exam sitting.
When to stop adding new material
| Time before exam | Rule |
|---|---|
| 14+ days | You may still add targeted resources if they directly fix a weakness. |
| 7-10 days | Stop adding broad new resources. Focus on your existing notes, practice sets, and error log. |
| 3-5 days | Stop learning new topics unless they are small and repeatedly tested in your practice. |
| Final 24 hours | No heavy new material. Review condensed notes, logistics, formulas, and high-confidence reminders only. |
Final-week readiness checks
You are closer to ready when you can do the following without notes:
- Identify the client’s primary issue from a multi-topic fact pattern.
- Explain why a recommendation is suitable for the client’s goals, constraints, and risk profile.
- Recognize when more information is needed before making a recommendation.
- Distinguish similar products, accounts, insurance coverages, and planning strategies.
- Apply tax, retirement, estate, and insurance logic without relying on outdated assumptions.
- Complete timed mixed sets without rushing the final questions.
- Review a missed question and turn it into a clear rule for next time.
- Avoid changing answers unless you can name the specific fact you missed.
Exam-week checklist
| Area | Checklist |
|---|---|
| Practice | Final timed set completed and reviewed |
| Error log | High-priority misses redone at least once |
| Notes | Condensed sheets for formulas, ethics/process, and weak topics |
| Timing | Pacing practiced using current FP Canada exam instructions |
| Tools | Calculator, identification, permitted materials, and exam logistics confirmed |
| Mindset | Strategy chosen for flagged questions and uncertain answers |
| Rest | Sleep schedule protected for the final two nights |
Practical next step
Choose your timeline, then start with a timed diagnostic set today. Review every miss, build your error log, and let the results decide tomorrow’s study block. For CFP® preparation, the best use of practice is not just scoring questions; it is learning how to apply financial planning judgment under time pressure.