Free AFP-Exam-1 Mock Exam – Practice Online Confidently

Which asset is most likely to flow through a deceased person’s estate rather than pass automatically outside the estate?

A financial planner is invited to serve as a paid director of a private corporation owned by one of her clients.The client also wants the planner to continue providing personal financial planning advice. What should theplanner do before accepting the directorship?

Janet's non-registered account holds the funds listed in the following table:Assuming a marginal tax rate of 45%, what amount of tax payable will Janet incur if she redeems the accountto fund the purchase of a new business? 

Ivan has been relocated to a new office by his employer and is considering moving to a home closer to hisnew workplace. What is the minimum distance Ivan will have to move in order to qualify for the work-relatedmoving expenses income tax deduction?

Clara invested $150,000 with Roper Counsel, a member of CIRO. Her portfolio consists entirely of Canadianmutual funds. Roper Counsel recently became insolvent and declared bankruptcy. Where can Clara seek helpto recover her financial losses due to this event?