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: [email protected] 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) [email protected] 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

27 Special Examination Rates Canada $300 U.S. $400 International $500 * Group rates are negotiable. Please contact CIFP Education Services for further information. All prices are payable in Canadian dollars. Duplicate Diploma Requests for a duplicate course diploma must be made in writing to Education Services with payment. Please provide your student number and the course for which you require the transcript. You may request to have these documents sent by courier at your own expense. Duplicate Official Transcripts Requests for a duplicate course/program transcript must be made in writing to CIFP Education Services at the time of payment. Please provide your student number and the name of the course for which you require the transcript. You may request to have these documents sent by courier at your own expense. This request can be submitted via the Contact us send us a request section of your Virtual Desktop. Examination Rewrite If you are unsuccessful on your first examination attempt, you may register for a rewrite examination for a fee of $130. Missed Examination Fee Any student who fails to appear at a scheduled examination sitting without notifying CIFP prior to the examination date and within the specified timelines, is subject to a no-show fee of $130. To re-register for another examination sitting the student will be obliged to pay this fee as well as a $130 fee for rescheduling the examination. Printed Version of Web-based Content Students who wish to purchase a printed text of the Web-based course content may do so for a fee of $ NSF Fee Any student who tenders a payment when registering which is subsequently not honoured by the financial institution will be charged a $60 administration fee. Page 23 of 42

28 Refunds and Course Cancellations A student may request a course cancellation within 30 days. A student, who cancels his or her course enrollment 30 calendar days after the semester start date or, after the submission of any Assessment, is given an incomplete status in the course. Students who cancel their course enrollment within 30 days are eligible for a partial refund. An administration fee of $ applies to every course cancellation refund. Once a student has cancelled the course, he or she will no longer have access to the course content. Page 24 of 42

29 CIFP CFP Examination Preparatory Training Program The CIFP CFP Examination Preparatory Training Program is sponsored by The Canadian Institute of Financial Planning in partnership with various colleges and universities across Canada. These two and three-day comprehensive workshops are the ideal foundation for candidates preparing to write the FPSC Level 1 or CFP examinations. Structured in accordance with the CFP Professional Competency Profile established by Financial Planning Standards Council (FPSC) the body responsible for administering the FPSC Level 1 and CFP examinations the preparatory series will cover testable learning objectives with an emphasis on concepts that call upon the student to possess a higher level of mastery. In addition, financial concepts commonly regarded as problem areas will be addressed and throughout the five days, instructors will pass along invaluable examination writing and time management tips. The CIFP CFP Examination Preparatory Series is an interactive experience the presentation of each learning objective will be accompanied by meaningful examples and examination-style questions designed to reinforce the student's comprehension. Most importantly, in keeping with the format of the FPSC Level 1 and CFP Examinations, students will have numerous opportunities to try their hand at questions which incorporate multiple learning objectives. Students will also face questions that test his or her ability to apply financial concepts to real life scenarios and detailed case studies. Participants in the program are provided with a variety of study aids which address the essential learning objectives a student must understand for examination purposes. Support materials also contain hundreds of theoretical and scenario-based questions and case studies which the student can use as part of their examination preparation. The CIFP CFP Examination Preparatory Training covers a variety of topic areas in detail including: income tax planning income tax strategies retirement planning risk management investment planning estate planning family law job knowledge requirements small business issues The Canadian Institute of Financial Planning has long been recognized as Canada's leading and most innovative educational provider offering web-based courses dedicated to developing financial planning professionals based on the highest standards. Our approach has worked over the years, CIFP graduates have consistently recorded passing rates at the CFP examinations that surpass the national average for all educational providers. Our experience and expertise make the CIFP Examination Preparatory Series the perfect choice! Simply put: it will enable you to maximize the benefits derived from your valuable but limited study time and it will give you the knowledge and the confidence you need to successfully challenge the CFP examinations. Page 25 of 42

30 CIFP Bridge Program The CIFP Bridge Program is designed for those students who are eligible (i.e. the student has already completed an accredited core curriculum education program) but, have yet to write the CFP examinations (i.e. either FPSC Level 1 or CFP Examination) administered by Financial Planning Standards Council. For example, a student may have completed their core curriculum studies several years ago but, for any number of reasons, did not take the next step of writing the FPSC examinations. If the student decides to resume their studies today, unfortunately, they no longer have current material for study purposes. The Bridge Program will give the student access to an updated version of the core curriculum to prepare for FPSC Level 1 and CFP Examinations. Students who have completed a core curriculum program from another education provider, often use the CIFP Bridge Program to prepare for the FPSC examinations as they are looking for more comprehensive course content to study from. Students who wish to gain entry to the CIFP Bridge Program must have completed an FPSC-approved core curriculum program and must be eligible to write or rewrite the CFP examinations. Students who wish to graduate from the CIFP Bridge Program (as opposed to using the Bridge Program simply to get updated course content), must complete the Program Review and Evaluation Course and must satisfy enrollment requirements: the student must apply for academic standing in the CIFP program, arrange for an official transcript (a copy is not acceptable) to be sent directly from the applicable educational institution to CIFP and pay applicable fees. Refer to the information under the heading Equivalency and Academic Standing in the Admission section of this Academic Calendar. The CIFP Bridge Program consists of the following four courses: Retirement Planning Course, Risk Management & Estate Planning Course, Strategic Investment Planning Course and Income Tax Planning Course followed by the Program Review and Evaluation Course. The four-hour Program Examination is mandatory in order to graduate as a student of the Canadian Institute of Financial Planning. Page 26 of 42

31 CIFP Retirement Planning Certificate Course - RRC The CIFP Retirement Planning Certificate Course will equip advisors with the comprehensive knowledge they need to discuss retirement concepts and strategies with their clients. Upon completion of this course, the advisor will earn the license to use the prestigious Registered Retirement Consultant and RRC and titles. This course provides a detailed look at how clients plan for retirement, how they use their financial assets during retirement, and how they make financial decisions related to retirement. The course also provides a detailed look at the estate planning process and the many considerations and strategies involved in developing an estate plan. The course is online and begins with an overview of retirement planning with case studies followed by a detailed look at pensions. It then examines the characteristics of registered retirement savings plans to understand how they are used in accumulating funds for retirement. It goes on to explore the taxation of retirement income and investment planning, along with tax planning opportunities that are available. The course then addresses the tools of estate planning including property interest, family law, intestacy, probate, wills, powers of attorney, taxation upon death, trust and estate freezes. Clients look to their Financial Planners to provide expert guidance on the many issues involved in retirement and estate planning. This requires the planner to acquire the knowledge, judgment and expertise to understand both the retirement and estate planning process. Course Evaluation The course is comprised of units and lessons. Attached to each unit and lesson are assessments designed to assess understanding and comprehension of the course content. These are both formal and informal assessments. The formal assessments count towards your final course mark and are worth 30% of your final course grade. These assessments must be submitted prior to the examination date. The pass mark on the examination is 60%. The course is valid for one year, the first examination attempt is included in the cost of enrolment for the course and subsequent attempts cost $ If the student does not pass both examination attempts they must re-enrol at a cost of $ Examinations for this course will be offered four times a year at our regular CIFP examination centers in March, June, September and December. Course Costs $ for the online course $ for the printed text (optional) $ CIFP Retirement Planning Certificate Bridge Course Course Content Introduction to Retirement Planning Client Engagement Skills Government Sponsored Retirement Income Programs Employer Sponsored Pension Plans DPSPs, RRSPs and TFSAs RRIFs, LIFs, and Locked-in RRIFs Education Planning Page 27 of 42

32 Taxation during Retirement Retirement Savings Plan Post-retirement Planning Retirement Decisions Lending in Retirement Family Relationships and Support Obligations Family Property and Other Issues Wills and Power of Attorney for Property Living Wills, Forms of Property Interests, Intestacy and Probate Personal Trusts Other Estate Planning Considerations Death and Taxes Upon completion of this course and the CIFP Retirement Planning Certificate Bridge Course, the advisor will have completed CIFP Financial Planning I and will receive 40% advanced standing in the CIFP CFP Certification Program and will have taken an important first step on the path to earning the CFP designation. Students can claim the completion of the CIFP Retirement Planning Certificate Course for purposes of fulfilling their continuing education requirements for the CFP credential *, insurance (in certain provinces) and IIROC. * This course has been designed to meet the continuing education needs of financial planning professionals. For the interests of those who hold the CERTIFIED FINANCIAL PLANNER designation in particular, the content in this course addresses one or more aspects of Financial Planning Standards Council's CFP Professional Competency Profile. While CIFP/CIFPs creates and/or sponsors its educational offerings in consideration of the continuing education guidelines set by Financial Planning Standards Council (FPSC), it is the sole responsibility of the CFP professional to assess the appropriateness of this educational content for purposes of claiming continuing education (CE) credits. All claims for CE credits are subject to review and approval by FPSC. If the financial planning professional is using this course to claim CE credits for other designations, it is the sole responsibility of the individual to ensure CE credits are claimed in accordance with the unique and specific guidelines set by each governing licensing or certification body. Registered Retirement Consultant-RRC and RRC and CIFP on the Web and CIFP Bridge Program and CIFP are registered trademarks of The Canadian Institute of Financial Planning. The CIFP does not award the CFP designation. The right to use the marks CFP and CERTIFIED FINANCIAL PLANNER is granted under license by FPSC to those persons who have met its educational standards, passed the FPSC CFP examinations, satisfied a qualifying work experience requirement and agreed to abide by the FPSC Code of Ethics. Page 28 of 42

33 CIFP Continuing Education (CE) Program Consistent with our mission to provide quality professional educational programs to advance the knowledge and competence of individuals in the financial services industry, we now offer 18 continuing education courses. These courses give you the option of earning all your credits through a single source. The course examination must be completed via the Web during the calendar year, January 1 st to December 31 st, in which you are registered. This applies to CFP professionals who need continuing education credits to meet FPSC guidelines. For insurance credits, the examination must be completed before the renewal of your insurance licence. Registering for Continuing Education Courses Students may register in continuing education courses through the CIFP Web site: Your investment Cost: Study Time: Prerequisites: Credit: $175 per course 3-6 months None Students can claim a maximum of seven (7) verifiable credits upon the successful completion of each CE title (which includes an online examination consisting of 20 multiple choice questions) *. Refund and Course Cancellations You may request a refund from the CIFP only upon written request. Course materials must be returned within 30 calendar days of registration and prior to any examination attempt. A $75.00 administration fee will be applied to each course cancellation. If you currently hold the CFP designation, by becoming a member of The Canadian Institute of Financial Planners, you have access to three CE courses per year as part of your membership fee of $ For further details and benefits of being a member of CIFPs, please visit our Web site CIFP continuing education courses have been designed to meet the continuing education needs of financial planning professionals. For the interests of those who hold the CERTIFIED FINANCIAL PLANNER designation in particular, the content in these courses address one or more aspects of Financial Planning Standards Council's CFP Professional Competency Profile. While CIFP/CIFPs creates and/or sponsors its educational offerings in consideration of the continuing education guidelines set by Financial Planning Standards Council (FPSC), it is the sole responsibility of the CFP professional to assess the appropriateness of this educational content for purposes of claiming continuing education (CE) credits. All claims for CE credits are subject to review and approval by FPSC. If the financial planning professional is using these courses to claim CE credits for other designations, it is the sole responsibility of the individual to ensure CE credits are claimed in accordance with the unique and specific guidelines set by each governing licensing or certification body. Page 29 of 42

34 CIFP Continuing Education Courses Corporations Course content The basics of corporations Corporate and shareholder taxation Using the corporation as a wealth accumulation vehicle either as an owner/manager or as a passive investor Death and Taxes Course content Taxation of property upon death Impact of taxation upon estate planning Options available under the Income Tax Act upon death How much net worth or life insurance is required to pay taxes Techniques for pre and post mortem tax planning Deductions from Business and Property Income Course content A detailed look at the important deductions including the capital cost of property through capital cost allowance A portion of eligible capital expenditures Interest Expenses Fees paid for investment advice Employer Sponsored Pension Plans Course content Features and characteristics of employer-sponsored pension plans Features and characteristics of individual pension plans and profit sharing plans Distribution options upon termination of employment, retirement or upon death Rules and regulations that affect pension plans Page 30 of 42

35 Estate Planning in Special Situations Course content Estate planning for non-traditional families Transfer of family assets from one generation to the next Buy-sell agreements Planned giving Charitable donations as part of an estate plan Estate freezes Estate planning for Canadian taxpayers who have U.S. assets U.S. estate tax and the unified tax credit Family Property and Other Issues Course content Property acquired before and during the relationship The matrimonial home Pension benefits and retirement savings Tax consequences of the division of income Similarities and the differences in provincial family property legislation Family Relationships and Support Obligations Course content Marriage, separation and divorce Common-law and same-sex relationships Biological, adopted and step-children Other ascendant, descendant and collateral dependents Support obligations Tax implications of financial support Investment Risk Evaluation Course content The concept of risk as applied to investments with an emphasis on mutual funds Statistical measures of risk such as Standard Deviation and Beta will be described The effect of portfolio diversification on risk Modern portfolio theory is looked at with emphasis on the Capital Asset Pricing Model (CAPM) Page 31 of 42

36 Life Insurance Products, Issues, and the Industry Course content Universal life insurance Segregated funds Beneficiary designations Income tax considerations Life insurance industry regulation Life insurance contracts Living Wills, Property Investments, Intestacy and Probate Course content How a living will might be included in an estate plan Sole ownership, joint tenancy, tenancy in common and beneficiary designations Tax implications and estate planning implications of each form of property interest How intestacy may result in an inappropriate distribution of estate assets Methods of reducing probate fees More Taxation of Capital Property Course content How capital gains and losses are determined upon disposition of property How a taxpayer may accumulate wealth by virtue of acquiring and then disposing of capital property Personal Trusts Course content Flexibility of personal trusts How personal trusts may be used to satisfy financial planning objectives How settlors may set up specific criteria that the beneficiaries must meet in order to receive the funds The reasons why a settlor would form a trust Proprietorships and Partnerships Course content The two simplest business forms, the sole proprietorship and the partnership General characteristics of sole proprietorship and various partnership forms Advantages and disadvantages of these two business forms An overview of how business income is calculated and taxed for these two business forms. Page 32 of 42

37 Risk of Death Course content Risk of death Term life provisions Term life riders, premiums, and providers Permanent life insurance Whole life policy provisions and options Insurance contracts Risk of Disability and Accident and Sickness Insurance Course content Risk of disability Government disability insurance programs Individual contracts Premiums, coverage, and group plans Government health care Extended health and critical care Emergency travel and long-term care Taxation of Capital Property Course content How a taxpayer may accumulate wealth The role of capital property in wealth accumulation The nature of capital property and how it differs from inventory How taxable capital gains and allowable capital losses are reported A variety of deemed dispositions How the taxpayer may use capital losses to reduce his tax liability Special rules for business investment losses Taxation on of Property Income Course content Part one looks at interest and dividend income, as well as income earned by a specified member of a partnership Part two covers rental income that is any non-business property income generated by real estate Wills and Power of Attorney for Property Course content Wills Defines what Power of Attorney for Property means Explains the provisions that should be found in a will and a power of attorney Offers samples of documents Page 33 of 42

38 Admissions How to register for a Continuing Education Course Students have the option of registering for web-based or paper-based courses. Any student enrolling into a continuing education course(s) must complete and submit a registration form and enroll through our virtual university at A registration is considered complete once all fees are paid in full. The CIFP does not invoice students. Payment is required upon submission of the registration. Once your application has been processed if you have chosen the paper-based course your course manual(s) will be sent to you by regular mail. Enrollment Options Students may enroll in as many continuing education courses as they wish during a calendar year. Prerequisites There are no prerequisites for courses in the Continuing Education program. Although the program is developed primarily for CFP professionals who must fulfill an annual continuing education requirement, the courses provide useful and timely information for anyone interested in gaining knowledge in the areas of financial planning and investment strategies. These courses can also be used for continuing education credits in the insurance industry. Terms of Enrollment Students are required to complete the course examination within the calendar year, January 1 st to December 31 st, in which they are registered. For insurance students, the examination must be completed before the renewal of your insurance licence. Students have three attempts on the examination. Course Examination Each continuing education course examination is comprised of 20 questions. A grade of 60% is required to pass the CE course. You have 3 attempts online to successfully complete your course. Continuing Education Course Fees The fee for each continuing education course is $175 plus taxes. Methods of Payment Program and course related fees can be paid by using either VISA, MasterCard or American Express. CIFP does not accept personal cheques. Official receipts are available at the time of payment for fees paid by credit card. Page 34 of 42

39 NSF Fee Any student, who tenders payment when registering that is subsequently not honoured by the banking institution, will be charged a $60.00 administration fee. Refund and Course Cancellations A student may request a course cancellation and receive a partial refund, if requested within 15 calendar days of registration and prior to any examination attempt. Students must initiate a refund request through their virtual desktop at A $75.00 administration fee will be applied to each course cancellation. Page 35 of 42

40 CIFP Securities Compliance Principles Cycle 6 IIROC CE credits The CIFP Securities Compliance Principles is comprised of the following 4 courses: Anti-Money Laundering and Terrorist Financing 12 IIROC Compliance Credits Know your Client and Risk Management 4.5 IIROC Compliance credits Compliance and Sales and Trading Conduct 4.5 IIROC Compliance credits Ethics 3 IIROC Compliance credits Anti-Money Laundering and Terrorist Financing In this course you will learn what money laundering and terrorist financing is and how it is accomplished. You will learn why these activities are dangerous to Canadian society and we will explain what the government and other investigative agencies are doing to combat money laundering and terrorist financing. We will review the legislation and regulations and introduce you to Proceeds of Crime and Terrorist Financing Act (PCMLTFA) and Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Know your Client and Risk Management This course is designed to update advisors in specific areas of IIROC compliance requirements. This course is intended to reinforce and further develop your understanding of the Know Your Client rules and the Risk Management process in the Securities industry. Advisors will review the different rules and requirements for completing the Know Your Client application, how to handle client complaints from beginning to end and the importance of keeping good records. Advisors will also learn how risk is managed and how different levels of risk are defined. Fraud scenarios and how to recognize, report and protect advisors and their firm are reviewed. Compliance and Sales and Trading Conduct This course is designed to update advisors in specific areas of IIROC compliance requirements. In this course advisors will learn about the function and importance of compliance in the financial services industry. The course will also define your role as an advisor and your responsibilities as you carry out your duties and obligations towards investors and your firm. The course also explores the role of compliance in a firm s sales practices to ensure that conflicts of interest are avoided and proper trading conduct is observed by the firm and its advisors. Ethics This course is designed to update advisors in specific areas of IIROC compliance requirements. In this course advisors will learn the difference between compliance and ethics and how the advisor s values and the firm s values are inter-related. The course will also cover ethical responsibilities of an advisor and the obligations to the client, the firm and the public. Finally, the course covers the ethical decision making process and the different methods to assist advisors when policy does not cover a decision an advisor needs to make. Page 36 of 42

41 CIFP continuing education courses have been designed to meet the continuing education needs of financial planning professionals. For the interests of those who hold the CERTIFIED FINANCIAL PLANNER designation in particular, the content in these courses address one or more aspects of Financial Planning Standards Council's CFP Professional Competency Profile. While CIFP/CIFPs creates and/or sponsors its educational offerings in consideration of the continuing education guidelines set by Financial Planning Standards Council (FPSC), it is the sole responsibility of the CFP professional to assess the appropriateness of this educational content for purposes of claiming continuing education (CE) credits. All claims for CE credits are subject to review and approval by FPSC. If the financial planning professional is using these courses to claim CE credits for other designations, it is the sole responsibility of the individual to ensure CE credits are claimed in accordance with the unique and specific guidelines set by each governing licensing or certification body. Course Fees Anti-Money Laundering and Terrorist Financing: $ Know your Client and Risk Management: $ Compliance and Sales and Trading Conduct: $ Ethics: $75.00 bundled price for the 3 compliance courses above: $ Admission How to register for CIFP Securities Compliance Principles Any student enrolling into CIFP Securities Compliance Principles continuing education course(s) must complete and submit a registration form and enroll through our virtual university at This program is offered online. Students may print from the online version. A registration is considered complete once all fees are paid in full. The CIFP does not invoice students. Payment is required upon submission of the registration. Prerequisites The program has been developed for those that require IIROC Compliance credits for cycle 6. Although the program is developed to meet the need for acquiring IIROC Compliance CE credits, the courses provide useful and timely information for anyone interested in gaining knowledge in the areas of compliance. These courses can also be claimed for continuing education credits by CFP professionals * and by insurance advisors in certain provinces. Terms of Enrollment Students are required to complete the course examination within Cycle 6, January 1, 2015 to December 31, Students have one attempt on the examination. There are no rewrites for CE course examinations. Course Examination Each continuing education course examination is comprised of 20 questions. A grade of 60% is required to attain the full credits for the course. Students have 3 attempts at the online examination. Page 37 of 42

42 Methods of Payment Program and course related fees can be paid by using VISA, MasterCard or American Express. CIFP does not accept personal cheques. Official receipts are available at the time of payment for fees paid by credit card. NSF Fee Any student, who tenders payment when registering that is subsequently not honoured by the banking institution, will be charged a $60.00 administration fee. Refund and Course Cancellations A student may request a course cancellation and receive a partial refund, if requested within 15 calendar days of registration and prior to any examination attempt. Students must initiate a refund request through their virtual desktop at A $ administration fee will be applied to each course cancellation. Page 38 of 42

43 Examination Policies and Procedures for all CIFP Programs These policies and procedures apply to all CIFP examinations. By writing the examination and signing the policy document students agree to abide by the policies and procedures stipulated by CIFP. Students must produce photo identification at the examination centre. Acceptable photo identification includes a valid passport, driver s license or citizenship card. Students must complete the examination in pencil and answers must be recorded on the Scantron form provided as part of the examination package. Examinations that are not completed on the Scantron form or that are completed in pen will not be graded. Students should record answers on the Scantron form as they work through the examination, as extra time will not be given at the end to transfer answers from the examination paper to the Scantron form. Extra time will not be allotted to those candidates who arrive after the examination has begun. Students are not permitted to bring study materials, packages, briefcases, cellular phones or other PDA devices or any other non-approved item into the examination centre. Students are permitted to use a non-programmable, stand-alone calculator. Other devices are not permitted into the examination centre. Students will be provided with scrap paper as part of their examination package to assist with calculations. These pages must be returned in the examination package at the end of the examination. Students are not permitted to bring their own paper into the examination centre. During the examination, communication with other students is not permitted. Doing so, may result in an immediate dismissal from the examination centre and an automatic failing grade. Absolutely no examination materials may be removed from the examination room. All papers, the Scantron form and examination question sheets must be returned in the examination envelope at the end of the session. This envelope must then be sealed and returned to the proctor at the end of the examination. Students who complete their examination early may leave the examination centre quietly after ensuring they have signed the attendance list and have returned all examination materials to the proctor. Before, during and after each examination session, all students are expected to conduct themselves in an ethical manner and to avoid hampering the ability of fellow students to perform independently on the examination. CIFP will investigate incidences of reported cheating. If a student is found to have cheated and/or aided and abetted a cheater, the student s examination will not be graded and the student will be barred from writing any CIFP examination for a period of six (6) months from the date of the infraction. A second infraction by the same student will result in a lifetime ban. CIFP reserves the right, at our discretion, to disclose information regarding unethical behaviour to employers or prospective employers. Information will not be disclosed until the student has received, upon request, an oral hearing into the alleged unethical behaviour. Page 39 of 42

44 Examination Centres At the time of registration in a CIFP course, students can select their preferred examination centre. Examination Duration Course Retirement Planning Risk Management and Estate Planning Strategic Investment Planning Income Tax Planning Program Review and Evaluation Maximum Exam Duration 3 hours 3 hours 3 hours 3 hours 4 hours Retirement Planning Certificate Course Retirement Planning Certificate Bridge Course 3 hours 2 hours Day of the Examination Students must present current, valid photo identification at the examination site. Students are required to provide their HB2 pencil, eraser and their own non-programmable, stand-alone calculator. These supplies will not be provided at the examination centre. Scrap paper for the purpose of working out calculations will be provided at the examination sitting. No other materials may be used during the examination. Please note proctors are prohibited from accepting payment for outstanding course or program related fees at the examination centre. Please do not include payment in your examination package. Proctors are not permitted to answer any academic related questions during the examination. Students who have inquiries about an examination question can record their concerns on the outside of the envelope of their examination package. Upon receipt, the CIFP academic department will review the inquiry. Recording Examination Answers The Scantron form is the official examination document. Students should read the instructions for completing the Scantron form carefully before starting the examination. The Scantron form must be completed in pencil Scantron forms completed in pen will not be graded. Answers marked directly on the examination paper will not be graded the Scantron form is the only document used for grading purposes. Page 40 of 42

45 Examination Materials Students are not permitted to retain any examination materials or remove examination materials from the examination centre. All examination materials are the property of CIFP. Students who leave the examination centre with CIFP examination materials in their possession will not have their examination graded. CIFP retains completed examinations for three months unless there are overriding academic considerations that call for a different timeline. Obtaining your Final Grades CIFP endeavours to do its best to expedite the release of student grades. Typically, grades are posted three weeks after the examination write date however, there may be instances when situations beyond the control of CIFP cause the release date to exceed this guideline. Your patience and understanding is appreciated. Students can access their course and examination results by logging onto their student profile through the CIFP Web site: To protect the privacy of the student and to ensure incorrect information is not inadvertently released, CIFP will not release grades or pass/fail indications over the phone, by or by fax. Students with outstanding fees will not receive examination results or a diploma until all fees have been paid in full. Please ensure the information contained in your CIFP online personal profile is up-to-date and reflects any changes in your mailing address, phone number or address. Appealing Your Examination Grade Students can appeal examination grades. Please refer to the Student Dispute and Resolution Policy and Procedures as part of this Academic Calendar for details. Special Situations Relating to Examinations Special Examination Sittings Students who are unable to write their examination on the pre-determined date and/or at one of the predetermined examination centres across the country may request a special examination sitting. With a special sitting, the examination is held at an approved site other than one of CIFP's pre-established examination centres. A formal request for a special examination must be made in writing to CIFP Education Services a minimum of 60 calendar days prior to the special examination write date. Students must indicate the reason a special examination sitting is required and why they cannot write on a regularly scheduled date and/or centre. The special examination sitting must be scheduled to take place within 10 calendar days of a regular CIFP examination write date. Students must arrange an appropriate examination centre and recruit a proctor to invigilate the examination. Examples of a suitable proctor include an individual such as a teacher or a professor, a Page 41 of 42

46 branch manager of a financial institution or a compliance officer. The centre and the proctor must be approved by CIFP Education Services the decision of CIFP on the appropriateness of the proposed examination centre and proctor are final. Special examination sittings range in price from $300 to $500. Please refer to the Additional Services section for details. Group rates are negotiable at the discretion of CIFP. All arrangements and applicable fees are the sole responsibility of the student (over and above the special examination fee itself). This includes enlisting an authorized proctor, arranging the examination centre and the courier fees associated with sending and receiving the examination package. Please contact CIFP Education Services for further information. Changing Examination Centres At the time of registration in a CIFP course, students can select their preferred examination centre. Students who wish to change the location of an examination sitting, must do so a minimum of 30 calendar days prior to the scheduled examination date. Requests for changes cannot be accommodated after this date. It is the sole responsibility of students to ensure that they are registered at the correct examination centre. Students with Special Needs CIFP is committed to providing a fair and comfortable learning environment for all students. Students who require considerations due to physical or mental special needs, can contact CIFP Education Services with their request. CIFP will do its best to assist these students. Please note, CIFP requires a minimum of 60 calendar days notice prior to an examination sitting to make any necessary arrangements. Medical and Other Emergencies Students who are unable to write a pre-scheduled examination due to an emergency medical or family situation must notify CIFP of their situation as soon as possible. Students may be asked to provide medical documentation to support requests for exemptions from regular program policies related to completing course work and or examinations. Special Situations If a student finds himself or herself unable to complete or continue with their course studies due to extenuating circumstances, such as personal illness or death of a family member, the student is encouraged to contact Education Services to make special arrangements for completing their studies. Students who are unable to write a pre-scheduled examination due to an emergency medical or family situation must notify CIFP of their situation as soon as possible. Students may be asked to provide medical documentation to support requests for exemptions from regular program policies related to completing course work and or examinations. Page 42 of 42

47 Plagiarism and Cheating Policy Before, during and after each examination session, students are expected to conduct themselves in an ethical manner and to avoid hampering the ability of fellow students to perform independently on the examination. CIFP will investigate all incidents of reported cheating on an examination. If found cheating, students will not receive a grade for their examination and are barred from writing any CIFP examination for a period of six (6) months from the date of the infraction. A second infraction will result in a lifetime ban. CIFP reserves the right, at its discretion, to disclose information regarding unethical behaviour to employers or prospective employers. All students accused of unethical conduct will, upon request, receive an oral hearing into the alleged unethical behaviour before the findings of CIFP are disclosed to third parties. If students fail to comply with any of the examination procedures they will not be permitted to write any CIFP examination for a period of six (6) months from the date of the infraction. Student Dispute Resolution Policy and Procedure A student who wishes to challenge CIFP administrative policies and/or academic policies must do so formally in writing in accordance with the following process: i) The statute of limitations for a student to file a challenge is three (3) months of the date of the incident/policy in question. ii) The student must document in writing the nature of his or her challenge to the Registrar. The student will receive a response from the Registrar within one month of receipt of his or her challenge. iii) Upon receiving a response from the Registrar, if the student wishes to continue the dispute resolution process, he or she may request, in writing, an oral hearing with the Internal Review Panel consisting of: the President & CEO and the Registrar. This hearing will be conducted within one month of the receipt of the written request. iv) Following this hearing, if the student wishes to continue the dispute resolution process, he or she may request, in writing, to appear before a hearing with the Academic Tribunal consisting of the Internal Review Panel plus external representation consisting of graduate students and academic experts from other institutions. This hearing will be held within one-month of receipt of the written request. The tribunal decisions are final and binding and will be communicated to the student within one week of the hearing. Page 43 of 42