THE CANADIAN INSTITUTE OF FINANCIAL PLANNING

Transcription

1 THE CANADIAN INSTITUTE OF FINANCIAL PLANNING 2016 Academic Calendar

2 i : Table of Contents ORGANIZATION OF THE CIFP ACADEMIC CALENDAR... 1 PURPOSE OF THE ACADEMIC CALENDAR... 1 FEES... 1 CUSTOMER SERVICE AND CONTACT INFORMATION... 1 CANADIAN INSTITUTE OF FINANCIAL PLANNING (CIFP)... 2 CANADIAN INSTITUTE OF FINANCIAL PLANNERS (CIFPS)... 2 CIFP CFP CERTIFICATION PROGRAM CIFP ON THE WEB... 3 PATH TO CFP CERTIFICATION... 3 CIFP CFP CERTIFICATION PROGRAM... 4 FINANCIAL PLANNING 1 MODULE... 4 FP1 - RP: Retirement Planning Course... 4 FP1 - RMEP: Risk Management and Estate Planning Course... 5 FINANCIAL PLANNING 2 MODULE... 6 FP 2 - SIP: Strategic Investment Planning Course... 6 FP 2 - ITP: Income Tax Planning Course... 7 FP2 PRAE: Program Review and Evaluation Course... 8 CIFP FPSC-APPROVED CAPSTONE COURSE... 9 CIFP CFP CERTIFICATION PROGRAM: STUDY OPTIONS Regular Track Fast Track Academic Partners COURSE EVALUATION Assessments COURSE ASSESSMENT BY PACE Regular Track Fast Track CIFP CFP CERTIFICATION PROGRAM: EXAMINATIONS Scheduling of CIFP Examinations Grading of CIFP Courses and Examinations ADMISSIONS Registering in the CIFP CFP Certification Program Enrollment Options Prerequisites Terms of Enrollment Course Manuals Equivalency and Academic Standing Privacy Code KEY DATES: CURRENT SEMESTERS KEY DATES: PREVIOUS SEMESTERS CIFP PROGRAM FEES... 21

3 ii : Table of Contents Methods of Payment ADDITIONAL SERVICES Late Course Enrollment Postponement Fee Re-enrollment Course Extension Special Examination Duplicate Diploma Duplicate Official Transcripts Examination Rewrite Missed Examination Fee Printed Version of Web-based Content NSF Fee Refunds and Course Cancellations CIFP CFP EXAMINATION PREPARATORY TRAINING PROGRAM CIFP BRIDGE PROGRAM CIFP RETIREMENT PLANNING CERTIFICATE COURSE - RRC Course Evaluation Course Costs Course Content CIFP CONTINUING EDUCATION (CE) PROGRAM Registering for Continuing Education Courses Refund and Course Cancellations CIFP CONTINUING EDUCATION COURSES Corporations Death and Taxes Deductions from Business and Property Income Employer Sponsored Pension Plans Estate Planning in Special Situations Family Property and Other Issues Family Relationships and Support Obligations Investment Risk Evaluation Life Insurance Products, Issues, and the Industry Living Wills, Property Investments, Intestacy and Probate More Taxation of Capital Property Personal Trusts Proprietorships and Partnerships Risk of Death Risk of Disability and Accident and Sickness Insurance Taxation of Capital Property Taxation on of Property Income Wills and Power of Attorney for Property ADMISSIONS How to register for a Continuing Education Course Enrollment Options Prerequisites Terms of Enrollment Course Examination... 34

4 : Table of Contents CONTINUING EDUCATION COURSE FEES Methods of Payment NSF Fee Refund and Course Cancellations CIFP SECURITIES COMPLIANCE PRINCIPLES Cycle 6 IIROC CE credits Know your Client and Risk Management Compliance and Sales and Trading Conduct Ethics Course Fees ADMISSION How to register for CIFP Securities Compliance Principles Prerequisites Terms of Enrollment Course Examination Methods of Payment NSF Fee Refund and Course Cancellations EXAMINATION POLICIES AND PROCEDURES FOR ALL CIFP PROGRAMS Examination Centres Examination Duration Day of the Examination Recording Examination Answers Examination Materials Obtaining your Final Grades Appealing Your Examination Grade SPECIAL SITUATIONS RELATING TO EXAMINATIONS Special Examination Sittings Changing Examination Centres Students with Special Needs Medical and Other Emergencies Special Situations PLAGIARISM AND CHEATING POLICY STUDENT DISPUTE RESOLUTION POLICY AND PROCEDURE iii

5 Organization of the The is organized in the following sections: CIFP Programs Admissions and Fees Key Dates Examinations General Policies and Additional Services Should you require information regarding academic regulations, entry requirements, fees, student services and/or calendar of events, refer to the General Policies section. Under each section of this calendar you will find programs, registration, fees and examinations. Please refer to the back of the calendar for general policies, additional services and key dates. Purpose of the Academic Calendar This calendar is designed to serve as a reference for students enrolled in a CIFP program. The policies and regulations outlined in this calendar have been determined by The Registrar and are administered by CIFP Education Services. These policies have been developed to provide fair, consistent and efficient treatment to all students. CIFP strives to ensure this calendar reflects the most up-to-date information as of the date of its publication. However, circumstances may develop following the release of this document that require policy and pricing changes. Accordingly, CIFP reserves the right to change prices or change regulations and policies at any time without prior notice. We encourage students to contact CIFP if they have specific inquiries regarding our policies and procedures or services that have not been addressed in this Calendar. Fees All fees quoted in this Academic Calendar are in Canadian dollars. Fees are accurate as of the date of publication however, they are subject to change without notification. You are advised to contact CIFP for the most current fee schedule. Customer Service and Contact Information CIFP is staffed with experienced and informed customer service representatives available to assist you in registering for courses, examinations and to answer any administrative questions related to your program of study. You may contact CIFP Education Services by: cifpgeneral@cifps.ca Telephone: CIFP business hours are from Monday to Friday 9:00 a.m. to 5:00 p.m. EST. Page 1 of 42

6 Canadian Institute of Financial Planning (CIFP) Who we are CIFP is a distance learning educational institution wholly owned by the Canadian Institute of Financial Planning. For over 40 years, CIFP has been dedicated to developing and maintaining high standards for financial planning professionals by providing quality educational courses to students. All CIFP programs are delivered through the innovative CIFP Web-based education portal. This institution was developed to combine the strengths of traditional classroom-based learning and distance education learning into one, Web-based campus. CIFP provides Web-based programs for licensing and certification requirements in the financial services sector including financial planning and continuing education courses. For more information on CIFP, please visit our Web site: Awards/Recognition CIFP recognizes academic excellence by annually bestowing an award to the graduate with the highest overall grade in the CIFP CFP Certification Program. The award is presented annually at the Canadian Institute of Financial Planners National Conference. Canadian Institute of Financial Planners (CIFPs) The Canadian Institute of Financial Planners is a non-profit, member-association comprised of Canadian CERTIFIED FINANCIAL PLANNER professionals. The association is an independent, effective, and powerful advocate for the CFP certification marks and the financial planning profession in Canada. Membership is open to all Canadian CFP professionals, associates who have completed their precertification educational requirements, students who are currently enrolled in an FPSC-approved core curriculum educational program leading to CFP certification and concerned investors. CIFPs advocates on behalf of its members and the CFP certification marks with regulators and the public. CIFPs strongly believes the CFP marks represent the highest standard for financial planners here at home, and abroad. For more information on CIFPs, please visit our Web site: CFP, CERTIFIED FINANCIAL PLANNER and are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planning Standards Council is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB. FPSC, FPSC and logo and Financial Planning Standards Council are trademarks of Financial Planning Standards Council. Page 2 of 42

7 CIFP CFP Certification Program CIFP on the Web CIFP offers the four-course, Web-based CIFP CFP Certification Program. Completion of this accredited educational offering is a critical first step on the path to obtaining the internationally recognized CERTIFIED FINANCIAL PLANNER designation. This program provides individuals with the necessary knowledge and practical skills to begin a career in this growing profession. The CIFP CFP Certification Program consists of four core courses: Retirement Planning Course Risk Management and Estate Planning Course Strategic Investment Planning Course Income Tax Planning Course In addition, students must complete the Program Review and Evaluation Course which includes a final Program Examination. Path to CFP Certification Financial Planning Standards Council (FPSC) licenses the CFP marks in Canada. Upon completion of the CIFP CFP Certification Program, students will have completed an FPSCapproved core curriculum program and will become eligible to write Financial Planning Examination Level 1 (FPE1 ) the first of two CFP examinations administered by FPSC on the path to CFP certification. Following FPE1, candidates must then maintain continuous registration with FPSC by becoming a Registered Candidate and by agreeing to adhere to the Standards of Professional Responsibility for CFP Professionals and FPSC Registered Candidates. Next, candidates must complete a minimum of one-year of qualifying work experience as well as an accredited capstone course such as the CIFP FPSC-approved Capstone Course. Meeting this requirement enables the candidate to write Financial Planning Examination Level 2 (FPE2 ). After passing FPE2 and having sufficient qualifying work experience to accumulate a total of three years, the candidate becomes eligible for CFP certification. For further information on how to attain CFP certification, please visit the FPSC Web site: CFP, CERTIFIED FINANCIAL PLANNER and are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planning Standards Council is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB. FPSC, FPSC and logo and Financial Planning Standards Council are trademarks of Financial Planning Standards Council. Page 3 of 42

8 CIFP CFP Certification Program Financial Planning 1 Module FP1 - RP: Retirement Planning Course Most Canadians identify a comfortable retirement as their single biggest financial goal. Accordingly, a financial planner will play a significant role in helping his or her clients attain this goal. A planner must possess technical knowledge and sound judgment as they counsel their clients on financial decisions related to retirement. The Retirement Planning Course begins with an overview of the retirement planning process. This is followed by a comprehensive look at the sources of income an individual can expect to have at retirement including government-sponsored pension plans (e.g. Canada Pension Plan and Old Age Security) and employer-sponsored pension plans (e.g. defined benefit plans, defined contribution plans, deferred profit sharing plans, etc.). Since the primary source of income at retirement tends to be one s own savings, the course has a strong focus on individual retirement savings vehicles such as registered retirement savings plans (RRSPs), registered retirement income funds (RRIFs) and pension-related plans (e.g. LIFs, LRIFs and LIRAs). Regardless of one s stage in life, tax issues are an important and inevitable factor that must be considered as part of a sound financial plan. The course looks at the unique tax issues that arise at retirement and explores strategies that ensure tax efficiency. Finally, the financial considerations an individual must make in preparation for retirement as well as after retirement are identified. Topics covered in this course include: introduction to retirement planning government-sponsored retirement income programs employer-sponsored pension plans deferred profit sharing plans and registered retirement savings plans registered retirement income funds, LIFs and LRIFs education planning taxation during retirement post-retirement planning retirement decisions Prerequisite: none Suggested study time: hours Language: English Proctored Course Examination: maximum of 3 hours Page 4 of 42

9 Financial Planning 1 Module FP1 - RMEP: Risk Management and Estate Planning Course An effective financial plan must account for anticipated events and issues in a client s life such as retirement, taxation, education planning and investment planning. Just as importantly however, the plan must also account for realities in one s life that may be unanticipated like death, disability or a major illness. A sound plan will also ensure that on death, the estate will be distributed in accordance with the wishes of the deceased and matters such as the guardianship of dependents and final liabilities (e.g. taxes and probate fees) have been taken into account well in advance. The Risk Management and Estate Planning Course begins with a discussion of how financial risks can be offset through the use of insurance. The features and characteristics and uses of disability insurance, life insurance, health and long-term care insurance and property and liability insurance are covered in detail. The course then focuses on estate planning beginning with an overview of the planning process. Following this, topics address the unique features of different family relationships (e.g. marriage, common-law relationships and same-sex relationships) and support obligations for dependents. The implications with respect to taxation and property possession in the event of a breakdown in a relationship are also covered. Next, the importance of a will and a power of attorney, the various types and characteristics of each and the role these documents play as part of estate planning are identified. The course then looks at personal trusts and estate planning strategies such as an estate freeze. Finally, the course comprehensively explores the unique tax circumstances that arise when an individual dies and how estate planning can help alleviate the financial burden death can bring. Topics covered in this course include: risk of disability health and long-term care insurance risk of death life insurance products, issues and the industry risk of property and liability losses insurance contracts and risk management family relationships and support obligations family property and other issues wills and powers of attorney for property living wills, forms of property interest, intestacy and probate personal trusts estate planning in special situations death and taxes professional responsibility Prerequisite: Retirement Planning Course Suggested study time: hours Language: English Proctored Course Examination: maximum of 3 hours Page 5 of 42

10 Financial Planning 2 Module FP 2 - SIP: Strategic Investment Planning Course One of the primary functions of a financial planner is to provide guidance to clients on how best to accumulate and preserve wealth. The planner plays an invaluable role in helping clients choose the proper investments in which to invest their hard-earned savings not only to maximize returns but also to manage risk and address financial goals. The Strategic Investment Planning Course offers a comprehensive look into the varied investment vehicles a financial planner may use as part of building a client s portfolio. The course begins with an overview of the investment planning process and personal-use assets such as the family home. This is followed by a detailed look at specific investments including bonds and debentures, common and preferred shares, financial derivatives, mutual funds and tax-advantaged investments. Investment planning however, involves much more than simply selecting an investment. To address this, the Strategic Investment Planning Course also deals with the tools that a financial planner must possess to make a proper evaluation of an investment and its suitability to his or her clients such as fundamental and technical analysis, investment theory and financial economics. Topics covered in this course include: strategic investment planning personal use assets guaranteed, interest-producing investments structure of bonds and debentures features of bonds and debentures common and preferred shares fundamental and technical analysis financial derivatives mutual funds tax-driven investments investment theory financial economics Prerequisite: Retirement Planning Course and Risk Management & Estate Planning Course Suggested study time: hours Language: English Proctored Course Examination: maximum of 3 hours Page 6 of 42

11 Financial Planning 2 Module FP 2 - ITP: Income Tax Planning Course Perhaps the biggest concern Canadians have about their finances is that they feel they pay too much in personal income taxes. Helping to minimize their tax burden is an integral part of a financial planner s relationship with his or her clients. The Income Tax Planning Course provides a detailed examination of various tax issues from both a technical and practical standpoint that will enable a financial planner to identify and resolve tax concerns for his or her client. The course begins with an introduction to money management and basic tax concepts. It then looks at the different business structures (i.e. sole proprietorships, partnerships and corporations), how they can be used to generate wealth for the owner / manager or the passive investor and how they are viewed from a tax perspective. The course also reviews employment relationships and the tax implications of employment income and benefits. The course then progresses to an in-depth discussion of how various types of investment income are taxed (e.g. interest, dividends, rental income) as well as how capital gains and capital losses are treated. Special tax situations and tax exemptions that a financial planner must be aware of are also explored. Finally, the course covers how best to make use of tax advantages. Topics covered in this course include: introduction to income tax planning proprietorships and partnerships corporations income tax planning and research taxation of employees and alternative minimum tax taxation of property income taxation of capital property making use of tax advantages Prerequisite: Retirement Planning Course, Risk Management & Estate Planning Course and Strategic Investment Planning Course Suggested course study time: hours Language: English Proctored Course Examination: maximum of 3 hours Page 7 of 42

12 Financial Planning 2 Module FP2 PRAE: Program Review and Evaluation Course Once you have completed the four core courses that comprise the CIFP CFP Certification Program (i.e. Retirement Planning Course, Risk Management and Estate Planning Course, Strategic Investment Planning Course and Income Tax Planning Course), the next step is to complete the Program Review and Evaluation Course. As a financial planner, you will routinely look at a client s situation to address issues concerning taxation, investment planning, education planning, retirement, risk management and their estate. However, you will not look at these issues in isolation. Rather, all of these concepts must be integrated as part of constructing a sound financial plan while at the same time, keeping in mind that a recommendation in one area will have an impact on other areas of the client s financial situation as well. The Program Review and Evaluation Course builds on the concepts you have learned throughout the four core courses and now places you in the position of integrating these diverse topics as part of case studies that reflect various client scenarios. The Program Review and Evaluation Course is also an invaluable study aid as you prepare to write the Program examination. Format of this course: assessment #1: 100 multiple choice questions assessment #2: 100 multiple choice questions Prerequisite: Retirement Planning Course, Risk Management and Estate Planning Course, Strategic Investment Planning Course and Income Tax Planning Course Suggested study time: hours Language: English Program Examination This proctored, four-hour examination is comprised of questions of varying styles and draws from learning objectives presented throughout the CIFP CFP Certification Program. The Program Examination will help students assess their strengths and weaknesses as they prepare to write Financial Planning Examination Level 1 (FPE1): the first of two examinations administered by Financial Planning Standards Council (FPSC) on the path to CFP certification. Successful completion of the Program Examination means a student has satisfied the educational requirements to graduate from the CIFP CFP Certification Program and he or she becomes eligible to write FPE1. Format of this examination: 100 multiple choice questions: 70 theoretical questions (i.e. definitional, calculations, theoretical, short scenario); 30 case study questions (i.e. questions based on 3 4 in-depth case studies) Prerequisite: Program Review and Evaluation Course Language: English Proctored Program Examination: maximum of 4 hours Page 8 of 42

13 CIFP FPSC-approved Capstone Course Successful completion of the Capstone Course is an integral step for those pursuing the CFP designation. The Capstone Course will draw on the technical knowledge and financial planning skills the student brings into the course to integrate and synthesize the various components of financial planning. The importance of fine-tuning these professional skills in preparation for the FPSC Financial Planning Examination 2 (FPE2) is critical as the examination adopts a competency-based approach. Ultimately, the Capstone Course will test the student's preparedness to write FPE2 as measured by the comprehensive financial plan that is a required element of the course. Tuition Fees Price * For non-cifp students $499 For our CIFP CFP Certification Program CIFP on the Web graduates $99 For Students also enrolled in the CIFP CFP Examination Preparatory Training Program $199 * Does not include the Case Study which is purchased directly from the FPSC. Delivery of Course Content The CIFP FPSC-approved Capstone Course is a distance-learning course that is accessible online. Formal assessments are completed and submitted by the student online and are graded instantly. The comprehensive financial plan must be completed on paper and submitted to CIFP for evaluation. Course Evaluation Successful completion of the CIFP FPSC-approved Capstone Course requires the student to obtain a cumulative grade of 60% on the mandatory components of the course. In addition, to pass the course, the student must obtain a minimum grade of 60% on two of the mandatory components: the formal course assessment and the comprehensive financial plan. The mandatory components of the CIFP FPSC-approved Capstone Course are comprised of the following: 10% - end-of-unit formal assessments (cumulative) 20% - formal Capstone Course assessment 70% - comprehensive financial plan Prerequisite: Financial Planning Examination Level 1 (FPE1 ) from FPSC Language: English Page 9 of 42

14 Course Topics and Learning Objectives There are a number of aspects that are non-technical in nature and therefore, are not covered in detail in the core curriculum of the CIFP CFP Certification Program. These concepts are covered in the CIFP FPSC-approved Capstone Course: Fundamental Financial Planning Practices Integration of Financial Planning Components Professional Skills Ethical Principles The Capstone Course will integrate professional competencies, professional skills and related technical knowledge. This course must be completed prior to writing Financial Planning Examination Level 2 (FPE2) administered by FPSC. Page 10 of 42

15 CIFP CFP Certification Program: Study Options Regular Track The Regular Track study option offers four semesters per year in the fall, winter, spring and summer. Each semester is approximately 24 weeks in duration. Students on the Regular Track have two specific due dates within the semester for submitting the unit level assessments. The Regular Track allows students to complete their course over a six-month period. Students register for the program and enroll for courses through the CIFP Web site ( Assessments are completed by the specified due dates and submitted on the Web. Assessments are graded immediately and results are available to the student upon submission. Fast Track The Fast Track study option offers four semesters per year in the fall, winter, spring and summer. Each semester is approximately 12 weeks in duration. Students on the Fast Track have until 14 calendar days prior to the semester examination date to submit all course unit level assessments. Specific due dates for each semester are available in the Key Dates section of this Calendar. Within 24 months, the Fast Track study option will allow a student to: complete the four-course CIFP CFP Certification Program (including the final four-hour Program Examination) and graduate from the CIFP Program write Financial Planning Examination Level 1 (FPE1) administered by Financial Planning Standards Council (FPSC) complete the CIFP FPSC-approved Capstone Course Capstone write Financial Planning Examination Level 2 (FPE 2) administered by FPSC (subject to meeting a one-year qualifying work experience requirement) Students register for the Program and enroll for courses through the CIFP Web site ( All course assessments are due 14 calendar days prior to the semester examination date. Specific due dates for each semester are available in the Key Dates to Remember section. Academic Partners If you prefer to learn in a classroom setting, you may take the CIFP CFP Certification Program through one of our Academic Partners located across Canada. Academic Partners offer program courses independent of the CIFP and administer the program on a different timeline (typically, semester based). For information on registration, please contact the Academic Partner directly. Academic Partners set the due dates for assessments along with the examination dates for programs. To register for classroom instruction, please contact an Academic Partner directly. For a complete listing of Academic Partners, please visit our Web site ( Page 11 of 42

16 Course Evaluation Assessments Each course in the CIFP CFP Certification Program is comprised of units and lessons. Attached to each unit and lesson are assessments that are designed to gauge your understanding and comprehension of the course content. There are both formal and informal assessments. The formal assessments must be submitted online and are worth 30% of your final course grade. The formal assessments specifically in the Program Review and Evaluation Course are worth 15% of your final course grade. These assessments must be submitted online. There are also informal assessments throughout the CIFP Program that do not count towards your final examination they are there as study aids to help you better understand the course content. Course Assessment by Pace Regular Track The Regular Track offers two study semesters per year in the fall and spring. Each semester is approximately 24 weeks in duration. Students on the Regular Track have two specific due dates. Retirement Planning Course The Retirement Planning Course has 10 units with 10 formal assessments. Five of these assessments are due approximately eight weeks after the start of the semester. The other five assessments are due approximately 16 weeks after the start of the semester. Assessments submitted after the due date are subject to full penalty and will be given a grade of zero. Risk Management and Estate Planning Course The Risk Management and Estate Planning Course has 14 units with 14 formal assessments. Seven of these assessments are due approximately eight weeks after the start of the semester. The other seven units are due approximately 16 weeks after the start of the semester. Assessments submitted after the due date are subject to full penalty and will be given a grade of zero. Strategic Investment Planning Course The Strategic Investment Planning Course has 12 units with 12 formal assessments. Six of these assessments are due approximately eight weeks after the start of the semester. The other six assessments are due approximately 16 weeks after the start of the semester. Assessments submitted after the due date are subject to full penalty and will be given a grade of zero. Income Tax Planning Course The Income Tax Planning Course has eight units with eight formal assessments. Four of these assessments are due approximately eight weeks after the start of the semester. The other four assessments are due approximately 16 weeks after the start of the semester. Assessments submitted after the due date are subject to full penalty and will be given a grade of zero. Page 12 of 42

17 Program Review and Evaluation The Program Review and Evaluation Course requires students to submit two, 100-question, formal assessments 14 calendar days prior to the semester examination date. Assessments submitted after the due date are subject to full penalty and will be given a grade of zero. Students must then successfully complete the four-hour, CIFP Program Examination. Fast Track This track offers four study semesters per year in the fall, winter, spring and summer. Each semester is approximately 12 weeks in length. All formal assessments have to be submitted 14 calendar days prior to the semester examination date. Retirement Planning Course The Retirement Planning Course has 10 units with 10 formal assessments that have to be submitted 14 calendar days prior to the semester examination date. Assessments submitted after the due date are subject to full penalty and will be given a grade of zero. Risk Management and Estate Planning Course The Risk Management and Estate Planning Course has 14 units with 14 formal assessments that have to be submitted 14 calendar days prior to the semester examination date. Assessments submitted after the due date are subject to full penalty and will be given a grade of zero. Strategic Investment Planning Course The Strategic Investment Planning Course has 12 units with 12 formal assessments that have to be submitted 14 calendar days prior to the semester examination date. Assessments submitted after the due date are subject to full penalty and will be given a grade of zero. Income Tax Planning Course The Income Tax Planning Course has 8 units with 8 formal assessments that have to be submitted 14 calendar days prior to the semester examination date. Assessments submitted after the due date are subject to full penalty and will be given a grade of zero. Program Review and Evaluation Course The Program Review and Evaluation Course requires students to submit two, 100-question, formal assessments 14 calendar days prior to the semester examination date. Assessments submitted after the due date are subject to full penalty and will be given a grade of zero. Students must then successfully complete the four-hour, CIFP Program Examination. Page 13 of 42

18 CIFP CFP Certification Program: Examinations Scheduling of CIFP Examinations Examinations for courses in the CIFP CFP Certification Program take place four times a year at the end of the corresponding semesters. Examination dates are pre-determined by CIFP and are available on the CIFP Web site ( as well as in this academic calendar. Two examination sessions are offered for each examination date: a morning sitting scheduled for 9:00 a.m. and an afternoon session scheduled for 2:00 p.m. Students are not permitted to change their examination sitting time. Once you have registered in a course you are automatically pre-registered for your first examination attempt. If you have registered in two courses, in the same semester and at the same pace, you will write both examinations on the same day (i.e. one examination in the morning session and one examination in the afternoon session). For example, if you are enrolled in two courses in the fall Fast Track semester you will be scheduled to write two examinations on the examination date in December. If you are enrolled in two courses in the fall Regular Track semester you will be scheduled to write 2 examinations on the examination date in March. For more information on enrollment please refer to the Admissions section of this Calendar. Grading of CIFP Courses and Examinations CIFP calculates final grades for the Retirement Planning Course, Income Tax Planning Course, Strategic Investment Planning Course and the Risk Management and Estate Planning Course based on a 30% weighting for the formal assessments and a 70% weighting for the final course examination. A passing grade is an overall grade of 60% with a minimum examination grade of 60%. CIFP calculates final grades for the Program Review and Evaluation and Program Examination based on a 15% weighting for the two formal assessments and an 85% weighting for the Program Examination. A passing grade is an overall grade of 60% with a minimum examination grade of 60%. Students in the CIFP CFP Certification Program must achieve a minimum grade of 60% on the Program Examination to graduate from the Program. Page 14 of 42

19 Admissions Registering in the CIFP CFP Certification Program All students enrolling in the CIFP CFP Certification Program are required to register for the program and enroll into each individual course. When you register you will select to enroll into a specific semester and pace. The examination for your course will be at the end of the semester. All examination dates are predetermined by CIFP. Students are able to register and enroll in the Program through our Web site: Registration and course enrollments are considered complete once all fees are paid in full. CIFP does not invoice students. Payment is required upon submission of registration and enrollment. Students have the option of printing off a receipt from the Web site. Enrollment Options Students may enroll in a maximum of two courses per pace, per semester. For example a student may enroll in a maximum of two courses in the fall Fast Track semester and a maximum of two courses in the fall Regular Track semester. The fall Fast Track course examinations will be written in December and the fall regular pace examinations will be written in March. Due to the fact that examinations are held at the end of a semester, students are restricted from writing more than two course examinations on a given examination write date. Prerequisites Enrollment Options Semester Pace First Examination Date Fall Fast Track December Fall Regular March Winter Fast Track March Winter Regular June Spring Fast Track June Spring Regular September Summer Fast Track September Summer Regular December Students enrolling in the CIFP CFP Certification Program must take courses in sequence. Students cannot be active in more than two courses at any time. Each course is a prerequisite for the other. Terms of Enrollment A student must re-enroll in the course after two examination attempts and pay applicable fees. Page 15 of 42

20 Course Manuals For students taking the CIFP CFP Certification Program who wish to purchase a printed text, they may do so at a cost of $ (price is subject to change). Equivalency and Academic Standing CIFP may recognize related courses and programs previously completed at select educational institutions other than the CIFP. To apply for a course equivalency in the CIFP CFP Certification Program, please follow these instructions (read and follow the instructions carefully to avoid delays in processing your request): i) Students must formally request academic standing from the Canadian Institute of Financial Planning. Part of this request should include a detailed description of the course or program the student has taken externally and for which he or she is applying for equivalency. NOTE: Please ensure the description is detailed enough for us to identify the learning objectives that were covered in the course or program (in other words, a simple overview of the course or program will not be adequate and your request will not be processed). We also need to know the duration of the course or program, the educational institution the course or program was completed through and the date the course or program was completed. The in-depth description should be contained in a document published by the educational institution (e.g. an academic calendar provided it is a detailed description of the course or program and not just an overview). Alternatively, the student can provide a direct link to the location in the educational institution's Web site that details the curriculum for each course or program. Please ensure the link will provide us with all of the pertinent course or program information we are looking for we will not search the Web site for additional information on your behalf. For this initial step, it is sufficient for you to send us a photocopy of your transcript. ii) Upon receiving confirmation from CIFP that academic standing will be granted, the student must provide CIFP with an original transcript. The transcript must be mailed directly from the educational institution to CIFP it cannot be mailed to the student and then forwarded to CIFP via the student. iii) Once the original transcript has been received from the educational institution, CIFP will review the document and grant equivalency in our CFP Program as appropriate. CIFP will mail a formal letter to the student advising them that they have received academic standing and identifying what, if any, requirements must still be met before the student can graduate from the CIFP CFP Program. iv) The fee to transfer credits / courses from another educational institution to the CIFP CFP Program is $130 per course (cost subject to change). Costs incurred to request transcripts and other necessary documentation from the educational institution are the responsibility of the student. If you wish to apply for academic standing, please ensure your contact information as indicated in your online student profile is up-to-date so we can contact you as needed. Your educational institution should forward your transcript directly to: The Canadian Institute of Financial Planning Attention: Education Department 3660 Hurontario Street, Suite 600 Mississauga, Ontario L5B 3C4 Page 16 of 42

21 If you require further assistance, you can contact our education department in Mississauga during normal business hours (EST) or send us an Telephone: (647) / (toll-free) cifpgeneral@cifps.ca Privacy Code To ensure the privacy of students is protected, all information gathered from registration forms that are mailed, faxed or completed online will remain strictly confidential. Such information will only be used for the purposes of registering and notifying students of grades and delivering relevant news and information. General information regarding students will not be revealed to any third party including employers and family members without written permission from the student. Page 17 of 42

22 Key Dates: Current Semesters Spring 2016 Key Dates Fast Track Students March 16, 2016 April 18, 2016 May 27, 2016 June 11, 2016 August 12, 2016 September 10, 2016 Official start for the Spring 2016 semester Registration deadline for the Spring 2016 semester Due date for submission of all assignments Examination date for Spring fast track students Last date to register for rewrites or to change exam venues for September 10, 2016 rewrite date. Examination rewrite date for Spring fast track students If you purchase a 3 month course extension, please refer to the Summer 2016 Fast Track Key Dates. If you purchase a 6 month course extension, please refer to the Fall 2016 Fast Track Key Dates. Regular Track Students March 16, 2016 April 18, 2016 May 27, 2016 August 26, 2016 September 10, 2016 November 11, 2016 December 10, 2016 Official start for the Spring 2016 semester Registration deadline for the Spring 2016 semester Due date for submission of first half of assignments Due date for submission of second half of assignments Examination date for Spring regular track students Last date to register for rewrites or to change exam venues for December 10, 2016 rewrite date. Examination rewrite date for Spring regular track students If you purchase a 3 month course extension, please refer to the Fall 2016 Fast Track Key Dates. If you purchase a 6 month course extension, please refer to the Winter 2017 Fast Track Key Dates. Summer 2016 Key Dates Fast Track Students June 22, 2016 July 25, 2016 August 29, 2016 September 10, 2016 November 11, 2016 December 10, 2016 Official start for the Summer 2016 semester Registration deadline for the Summer 2016 semester Due date for submission of all assignments Examination date for Summer fast track students Last date to register for rewrites or to change exam venues for December 10, 2016 rewrite date Examination rewrite date for Summer fast track students If you purchase a 3 month course extension, please refer to the Fall 2016 Fast Track Key Dates. If you purchase a 6 month extension, please refer to the Winter 2017 Fast Track Key Dates. Regular Track Students June 22, 2016 July 25, 2016 August 29, 2016 November 28, 2016 December 10, 2016 Official start for the Summer 2016 semester Registration deadline for the Summer 2016 semester Due date for submission of first half of assignments Due date for submission of second half of assignments Examination date for Summer regular track students February 11, 2017 Last date to register for rewrites or to change exam venues for March 11, Page 18 of 42

23 March 11, rewrite date Examination rewrite date for Summer regular track students If you purchase a 3 month course extension, please refer to the Winter 2017 Fast Track Key Dates. If you purchase a 6 month extension, please refer to the Spring 2017 Fast Track Key Dates. Key Dates: Previous Semesters Winter 2016 Key Dates Fast Track Students December 16, 2015 January 18, 2016 February 26, 2016 March 12, 2016 Official start for the Winter 2016 semester Registration deadline for the Winter 2016 semester Due date for submission of all assignments Examination date for Winter fast track students May 13, 2016 Last date to register for rewrites or to change exam venues for June 11, 2016 rewrite date June 11, 2016 Examination rewrite date for Winter fast track students If you purchase a 3 month course extension, please refer to the Spring 2016 Fast Track Key Dates. If you purchase a 6 month extension, please refer to the Summer 2016 Fast Track Key Dates. Regular Track Students December 16, 2015 January 18, 2016 February 26, 2016 May 27, 2016 June 11, 2016 August 12, 2016 September 10, 2016 Official start for the Winter 2016 semester Registration deadline for the Winter 2016 semester Due date for submission of first half of assignments Due date for submission of second half of assignments Examination date for Winter regular track students Last date to register for rewrites or to change exam venues for September 10, 2016 rewrite date Examination rewrite date for Winter regular track students If you purchase a 3 month course extension, please refer to the Summer 2016 Fast Track Key Dates. If you purchase a 6 month extension, please refer to the Fall 2016 Fast Track Key Dates. Fall 2015 Key Dates Fast Track Students September 23, 2015 October 21, 2015 November 27, 2015 December 12, 2015 Official start for the Fall 2015 semester Registration deadline for the Fall 2015 semester Due date for submission of all assignments Examination date for Fall fast track students February 12, 2016 Last date to register for rewrites or to change exam venues for March 12, 2016 rewrite date March 12, 2016 Examination rewrite date for Fall fast track students If you purchase a 3 month course extension, please refer to the Winter 2016 Fast Track Key Dates. If you purchase a 6 month extension, please refer to the Spring 2016 Fast Track Key Dates. Regular Track Students Page 19 of 42

24 September 23, 2015 October 21, 2015 November 27, 2015 February 26, 2016 March 12, 2016 Official start for the Fall 2015 semester Registration deadline for the Fall 2015 semester Due date for submission of first half of assignments Due date for submission of second half of assignments Examination date for Fall regular track students May 13, 2016 Last date to register for rewrites or to change exam venues for June 11, 2016 rewrite date June 11, 2016 Examination rewrite date for Fall regular track students If you purchase a 3 month course extension, please refer to the Spring 2016 Fast Track Key Dates. If you purchase a 6 month extension, please refer to the Summer 2016 Fast Track Key Dates. Summer 2015 Key Dates Fast Track Students June 24, 2015 July 27, 2015 August 31, 2015 September 12, 2015 November 13, 2015 December 12, 2015 Official start for the Summer 2015 semester Registration deadline for the Summer 2015 semester Due date for submission of all assignments Examination date for Summer fast track students Last date to register for rewrites or to change exam venues for December 12, 2015 rewrite date Examination rewrite date for Summer fast track students If you purchase a 3 month course extension, please refer to the Fall 2015 Fast Track Key Dates. If you purchase a 6 month extension, please refer to the Winter 2016 Fast Track Key Dates. Regular Track Students June 24, 2015 July 27, 2015 August 31, 2015 November 30, 2015 December 12, 2015 Official start for the Summer 2015 semester Registration deadline for the Summer 2015 semester Due date for submission of first half of assignments Due date for submission of second half of assignments Examination date for Summer regular track students February 12, 2016 Last date to register for rewrites or to change exam venues for March 12, 2016 rewrite date March 12, 2016 Examination rewrite date for Summer regular track students If you purchase a 3 month course extension, please refer to the Winter 2016 Fast Track Key Dates. If you purchase a 6 month extension, please refer to the Spring 2016 Fast Track Key Dates. Page 20 of 42

25 CIFP Program Fees Registration/Enrolment Fees Price* One-time Program Registration Fee $75 Retirement Planning (includes first scheduled examination) Risk Management and Estate Planning (includes first scheduled examination) Strategic Investment Planning (includes first scheduled examination) Income Tax Planning (includes first scheduled examination) Program Review and Evaluation (includes first scheduled examination) $525 $525 $525 $525 $75 Registration/Enrolment Fees Price Late Examination Reschedule Fee (within 30 days of exam if we can accommodate) $130 Missed Examination Fee (waived with the purchase of a course extension) $130 Examination Rewrite Fee $130 Special Examination Sitting (Individual in Canada) $300 Special Examination Sitting (Group) Variable 3-month Course Extension $195 6-month Course Extension $295 Re-enrollment $350 Equivalency Request per Course $130 Duplicate diploma or transcript $ 60 NSF Cheque $ 60 Optional Printed Text Material for Web-based Course $130 * All fees are payable at the time of registration. All fees are listed in Canadian dollars and are subject to change without notice. Methods of Payment Program and course related fees can be paid by using VISA, MasterCard or American Express. CIFP does not accept personal cheques. For a non-refundable administration fee of $25, payment may be made by, certified cheque, money order, bank draft or cash. Please do not send cash in the mail. Official receipts are available at the time of payment for fees paid. Page 21 of 42

26 Additional Services Late Course Enrollment All course registrations received after the published enrollment deadlines are subject to a $130 late enrollment fee. Postponement Fee All course postponements to the following semester are subject to a $300 fee. The postponement must be made before the submission of the first Assessment. Postponements can be completed by logging on through your virtual desktop and choosing Course Enrollment. If you are a student in the regular paced program you may postpone a course from the fall semester into the spring semester for $300. You may also postpone to the next immediate Fast Track semester if available. If you are a Fast Track student you may postpone a course from the fall to the winter, winter to the spring and the spring to the summer and summer to fall. Re-enrollment Should you be unsuccessful in your examination attempt, you may re-enroll in the course in the semester immediately following this failed examination attempt for $ After this time you are required to pay the full course cost of $525. Re-enrollments into courses previously taken through an Academic Partner are subject to the full course costs. Course Extension Students who feel that they will be unable to complete the course due to incomplete assessments or because they are not prepared to write their first examination attempt, may request a course extension under the following guidelines: i) after the submission of at least one assessment ii) at least 14 calendar days prior to the semester examination date. Students may extend for three or six months. The costs are $ for three months and $ for six months. Special Examination Students may arrange a special examination if they are unable to travel to one of our regular examination centres because of distance to the centre from the student s location or medical requirements. Details on how to arrange a special sitting can be found in Special Situations Relating to Examinations section of this Calendar. Please note: CIFP Education Services requires a minimum of 60 calendar days notice prior to the scheduled examination date to process special examination requests. Page 22 of 42