- What This Cheat Sheet Covers (and What It Does Not)
- The Two-Exam Structure at a Glance
- Scoring and Marking Facts
- The Eight Domains and Their Weights
- Exam 2 Case-Study Mechanics
- Fees and Money Facts
- Designation Requirements Beyond the Exams
- Enrolment Window, Attempts and Transfers
- Annual Renewal and Continuing Education
- Career and Pay Context
- A Domain-Driven Study Order
- Frequently Asked Questions
- The Personal Financial Planner (PFP) designation from CSI requires passing both AFP Exam 1 and AFP Exam 2.
- Each exam needs a scaled score of at least 60 on a 1-100 scale, not 60% raw.
- Exam 1 has 105 multiple-choice questions; Exam 2 has four case studies. Each has its own three-hour timer.
- Retirement Planning is the heaviest domain on Exam 2 at roughly 19%; Investment Planning ties for heaviest on Exam 1.
What This Cheat Sheet Covers (and What It Does Not)
This page condenses the facts that matter most for the Personal Financial Planner (PFP) designation issued by the Canadian Securities Institute (CSI). If you are still orienting yourself, start with What Is PFP Certification? or What Does PFP Stand For? before returning here. Everything below refers specifically to the CSI credential and its Applied Financial Planning (AFP) examinations. It does not borrow rules from other financial-planning credentials, and in particular the continuing-education and renewal rules here are PFP rules, not CFP rules.
The research behind this sheet was checked against CSI sources as of October 14, 2026. CSI revises its pages periodically, so confirm fees and dates on csi.ca before you pay for anything.
The Two-Exam Structure at a Glance
Both examinations are delivered through Prometric, either in person at a test centre or through remote proctoring. They are attempted separately, each with its own three-hour timer. This is not a single six-hour sitting and not a single 105-question exam.
| Feature | AFP Exam 1 | AFP Exam 2 |
|---|---|---|
| Format | 105 standalone multiple-choice questions | Four case studies with three to five related constructed-response questions each |
| Time limit | Three hours | Three hours |
| Answer type | Select the best answer | Written analysis, calculations and recommendations; may include cash-flow or net-worth charts |
| Marking | Computer-scored | Two independent markers; major discrepancies go to a third |
| Results timing | Generally within 24 hours | Generally within 30 business days |
| Passing standard | Scaled score of at least 60 (1-100) | Scaled score of at least 60 (1-100) |
CSI recommends taking Exam 1 before Exam 2 but does not require that order. Many candidates find the multiple-choice exam a useful first pass over the material, since it exercises the same eight domains before you have to write full case responses. For a sense of how demanding each part feels, see How Hard Is the PFP Exam?
A nonprogrammable financial-planning calculator that you supply yourself is permitted, subject to inspection. Practise with the exact model you intend to bring so that time-value and tax calculations are second nature under the clock.
Scoring and Marking Facts
Each exam requires a scaled score of at least 60 on a 1-100 scale. CSI's web table labels this "60%," but the Candidate Guidelines explain that the standard is set through a modified-Angoff process and then expressed on a scaled score. It is not a published rule that you must answer 60% of questions correctly. A scaled score of 60 can correspond to a different raw percentage on different exam forms, which is why chasing a raw-score target is a poor planning approach. The detail is unpacked in PFP Passing Score 2026.
No official AFP pass rate was verified, so any specific pass-rate figure you see quoted elsewhere should be treated with caution. The page PFP Pass Rate 2026 explains what can and cannot be said from the available data.
The Eight Domains and Their Weights
The eight domains are official competency and exam-objective headings shared by both required examinations. They are not preparation-curriculum headings, and there is no single combined PFP weighting. Each exam has its own blueprint. CSI allows plus or minus two percentage points around blueprint allocations, so treat the numbers as approximate guides.
| Domain | AFP Exam 1 (approx.) | AFP Exam 2 (approx.) |
|---|---|---|
| 1. Professional Conduct and Regulatory Compliance | 10% | 10% |
| 2. Client Relationship and Practice Management | 6% | 7% |
| 3. Asset and Liability Management | 11% | 13% |
| 4. Risk Management and Insurance | 12% | 12% |
| 5. Investment Planning | 17% | 15% |
| 6. Tax Planning | 14% | 14% |
| 7. Retirement Planning | 17% | 19% |
| 8. Estate Planning | 13% | 10% |
Two patterns stand out. On Exam 1, Investment Planning and Retirement Planning tie for the largest share at 17% each. On Exam 2, Retirement Planning is the single largest domain at 19%. Together, Investment, Tax and Retirement Planning make up a large portion of both blueprints, which is why most preparation plans front-load them. A full breakdown of each area is in PFP Exam Domains 2026: Complete Guide to All 8 Content Areas.
Retirement Planning (Domain 7)
The heaviest domain on Exam 2 and tied for heaviest on Exam 1, so it deserves the most repetition.
- Projecting retirement income needs and sustainable withdrawal strategies
- Integrating government benefits, employer plans and personal savings
- Building the cash-flow projections that Exam 2 cases often require you to chart
Investment Planning (Domain 5)
Tied for the largest Exam 1 weighting and still a major Exam 2 component.
- Matching portfolio recommendations to client objectives, risk tolerance and time horizon
- Evaluating returns and risk in a way you can justify in writing
- Connecting investment choices to the tax and retirement consequences in the same case
Tax Planning (Domain 6)
Weighted at roughly 14% on both exams, and it shows up inside other domains' calculations.
- Understanding how account types and income sources are taxed
- Running after-tax comparisons when you recommend one strategy over another
- Spotting tax implications in estate and retirement scenarios
The Smaller but Testable Domains
Domains 1 and 2 together are modest in weight but reward careful reading.
- Professional Conduct and Regulatory Compliance is about 10% on each exam and tests ethical judgment and compliance obligations in realistic client situations
- Client Relationship and Practice Management is the lightest domain at roughly 6-7% but supports how you frame recommendations in case responses
Exam 2 Case-Study Mechanics
Exam 2 is where candidates lose points they could have earned, usually through format rather than knowledge. A few mechanics to internalize:
- Four cases, one timer. You have three hours for everything, so allocate time per case before you start and check the clock between cases.
- Each case carries three to five related questions, some with subquestions. Later questions often build on earlier answers, so an early calculation error can ripple forward.
- Responses must show analysis, calculations and recommendations. A correct number without a recommendation, or a recommendation without supporting numbers, leaves marks on the table.
- Charts may be involved. Be ready to interpret or construct cash-flow and net-worth presentations.
- Two independent markers assess your responses, with a third referee for major discrepancies. Clear, structured writing makes it easier for both markers to award credit for your reasoning.
Key Takeaway
Practise Exam 2 questions by writing full responses under timed conditions, not by recognizing answers. Multiple-choice familiarity does not transfer to constructed-response marking, so schedule at least several timed multi-question case sets before your attempt.
CSI publishes public examples in its Candidate Guidelines, which are worth working through. The full sample Exam 2 sits inside the enrolment-only learning portal, so you only see it after enrolling. You can add realistic repetition through the PFP practice test question bank alongside the official material.
Fees and Money Facts
The fees below are CSI-listed amounts reproduced as displayed, without conversion to US dollars. An older CSI form states that its fees are in Canadian funds; treat that only as currency context, not as proof of current prices.
| Item | Listed amount |
|---|---|
| AFP Certification Examination enrolment | $750 |
| Initial PFP application (includes first-year licence) | $355 |
| Annual licence renewal | $355 |
Remember what is not in those figures. Prerequisite education is an additional cost, applicable taxes are extra, and corporate or employer discounts may apply at checkout. If your employer sponsors credentials, ask about discounts before enrolling. For the full picture of what to budget, see PFP Certification Cost 2026.
Designation Requirements Beyond the Exams
Passing both AFP exams is necessary but not sufficient. To be awarded the designation you must also satisfy:
- Education: complete a CSI-approved educational path before enrolling for the AFP examinations.
- Experience: at least three years of qualifying financial planning or advising experience within the preceding seven years.
- Competency elements: satisfactory performance of at least 97 of the 115 competency elements across eight competencies.
- Professional commitments: the PFP Code of Ethics, the certification-mark licence agreement and the Fit and Proper Declaration.
A current or recent employer or supervisor normally verifies your experience. Self-employed applicants may use an eligible previous employer or a qualified close peer. Non-Canadian experience can qualify, and full-time postsecondary financial-planning teaching may count for up to two years.
Enrolment Window, Attempts and Transfers
This is the section most worth memorizing, because mistakes here cost real money.
- Initial enrolment lasts one year and cannot be extended.
- You get two attempts per examination within that enrolment.
- After two failures on either exam, you must wait six months from your last failed attempt before reenrolling.
- A previously passed part may be transferred once to a new enrolment within two years of passing that part. This is the published transfer rule; it is not an extension of the original enrolment.
The practical implication is that your one-year clock should shape when you enrol. Do not pay the enrolment fee until you can commit to a realistic study block, and plan so that a first-attempt failure on either exam still leaves a retake inside the window. Scheduling specifics are covered in PFP Exam Dates 2026.
Annual Renewal and Continuing Education
Once awarded, the designation is maintained annually. These are PFP requirements, not rules borrowed from any other credential.
- Renew on your award anniversary each year.
- Beginning with the first full calendar year after award, complete 20 continuing-education hours each calendar year: 15 professional-development hours and five ethics/compliance hours.
- Keep records in case of audit.
- Maintain your ethical and trademark-licence commitments.
- Do not re-claim a course you already completed in the prior CE cycle.
The annual licence renewal is listed at $355, so factor ongoing costs into your long-term view of the credential.
Career and Pay Context
Financial planners and advisors work in banks, credit unions, investment dealers, insurance firms, independent practices and wealth-management teams. The PFP designation signals that you have demonstrated both knowledge, through the AFP exams, and applied experience, through the competency-element requirement. For a look at the kinds of roles that value it, see PFP Jobs.
For salary context, Canada's Job Bank reports figures for the Financial Planner occupation (NOC 11102, financial advisors): a national hourly median of CAD 36.06, with a low of CAD 23.91 and a high of CAD 73.08, updated November 19, 2025 using 2023-2024 Labour Force Survey data. These are occupational wages. They are not PFP-holder earnings and they do not show a causal salary premium from the designation. If you are weighing the investment, PFP Salary Guide 2026 and Is the PFP Certification Worth It? walk through the reasoning.
A Domain-Driven Study Order
Rather than a generic weekly template, sequence your preparation by blueprint weight and dependency. CSI's catalogue estimates 40-50 study hours as preparation time; that is a planning estimate, not an exam timer, and your background will push it up or down. A sample order that respects how the domains feed each other:
Foundations that every case touches
- Professional Conduct and Regulatory Compliance (Domain 1)
- Asset and Liability Management (Domain 3), because net-worth and cash-flow skills recur everywhere
The two heavyweights
- Investment Planning (Domain 5)
- Retirement Planning (Domain 7), your most heavily weighted area on Exam 2
Cross-cutting technical domains
- Tax Planning (Domain 6), revisited against investment and retirement scenarios
- Risk Management and Insurance (Domain 4)
Integration and timed practice
- Estate Planning (Domain 8) and Client Relationship and Practice Management (Domain 2)
- Full timed Exam 1 practice and written Exam 2 case sets
A deeper plan with resource suggestions is in the PFP Study Guide 2026, and structured training options are outlined in PFP Training. For realistic multiple-choice repetition, the PFP Exam Prep practice tests let you drill the high-weight domains and review explanations by topic.
Frequently Asked Questions
Two. The Personal Financial Planner (PFP) designation requires passing both AFP Exam 1 (105 multiple-choice questions) and AFP Exam 2 (four case studies). Each is attempted separately with its own three-hour timer, so it is not a single six-hour sitting.
No. Each exam requires a scaled score of at least 60 on a 1-100 scale. CSI explains that the standard is set through modified-Angoff standard setting, so it is not a published raw 60%-correct rule.
Retirement Planning (about 19% on Exam 2, 17% on Exam 1) and Investment Planning (about 17% on Exam 1, 15% on Exam 2) carry the most weight. Tax Planning, at roughly 14% on both, also supports many calculations across other domains.
Initial enrolment lasts one year, allows two attempts per exam, and cannot be extended. After two failures on either exam, you wait six months from the last failed attempt before reenrolling. A passed part can be transferred once to a new enrolment within two years of passing it.
No. The three-year experience requirement, along with the competency elements and professional commitments, applies to the designation award. It is not a condition for sitting the AFP exams, though you do need a CSI-approved education path before enrolling.
Keep this sheet alongside the other guides on the site, including PFP Certification, and revisit CSI's pages before you enrol, since fees and procedures can change.