Registration is now open for our CFP® Preparation Seminars

Ready, Set, Go!

You can now register for our seminars for both exams in the CFP® program (and a case study seminar) running this November in Toronto and Vancouver. The last day to register for the exam is October 27th, 2015

The dates are as follows:

For Toronto:

Foran 5-Day Workshop for the FPSC Level 1™ Examination is running twice from October 29th to November 1st and November 11th to 15th

Foran Weekend Workshop for the FPSC Level 1™ Examination Candidates (October 17th to 18th and continuing the 30th to November 1st)

Foran Case Study Workshop for FPSC Level 1™ Examination Candidates (November 2nd

Foran 5-Day Workshop for CFP® Examination Candidates (November 4th to 8th)

For Vancouver:

Foran 5-Day Workshop for the FPSC Level 1™ and CFP® Examination Candidates (November 2nd to 6th)

Foran Case Study Workshop for FPSC Level 1™ Examination Candidates (November 7th)

For reviews from past students or more details on upcoming seminars, please call (416) 947-1922 or visit our website here.

Cheers!

Foran Wishes Everyone Good Luck

From all of us at Foran –Wishing you good luck with your FPSC Level 1® and CFP® exam on June 5th

Of course, we know the luck part is just icing on the cake. You’ve put a lot of effort into preparing, and that means you will do well.

So plan on having a good night’s rest before exam day, remember to have your financial calculator handy for the morning, and then take a moment. Take a couple of deep breaths, and relax.  Set the intention that you will be at your best during the exam. See yourself calmly working through each question. You may even enjoy fast forwarding your image until you see your goal for all of this achieved, and notice how good that will be feeling, as you think about it now.

A final thought – enjoy knowing how much you know, you know?

All the best

Registration is now open for our CFP® Preparation Seminars

Grab your books, financial calculators and pens, it is time to get your study on!

You can now register for our seminars for both exams in the CFP® program (and a case study seminar) running this May in Toronto and Vancouver. The last day to register for the exam is May 5th, 2015

The dates are as follows:

For Toronto:

Foran 5-Day Workshop for the FPSC Level 1™ Examination is running twice in May from the 13th – 17th and again from the 20th – 24th

Foran Weekend Workshop for the FPSC Level 1™ Examination Candidates (May 2nd – 3rd and continuing the 22nd – 24th)

Foran Case Study Workshop for FPSC Level 1™ Examination Candidates (May 18th)

Foran 5-Day Workshop for CFP® Examination Candidates (May 6th-10th)

For Vancouver:

Foran 5-Day Workshop for the FPSC Level 1™ and CFP® Examination Candidates (May 11th – 15th)

Foran Case Study Workshop for FPSC Level 1™ Examination Candidates (May 16th)

 

For reviews from past students or more details on upcoming seminars, please call (416) 947-1922 or visit our website here.

Best of Luck to Everyone

Good Luck to all

At this point in time the Foran Financial team would like to wish our Foran FPSC Level 1® and CFP® Students good luck on their exam this Friday!

Some helpful study tips to remember: make sure you’re treating yourself well the night before the exam: good food, a good night’s sleep, and a short (20 minute) review before bed.

You’ve worked hard. You’ll do great!

The Foran Financial Team

Hang In There!

To all Foran FPSC Level 1® and CFP® Students, You’re Almost There!

As our dear CFP® students are now off to study for their exam, we now have our FPSC Level 1® students well on their way with our November 12th to 16th Seminar in full swing. If you are thinking that you may need some extra review then fear not!

We have our last FPSC Level 1® Seminar in Toronto starting on November 19th to the 23rd.

Our last Seminar in Vancouver for FPSC Level 1® and CFP® starts on November 17th to 21st.

There is still time!

For more information and testimonials please follow the link: http://www.foranfinancial.com/course_links/Foran_Exam_Preparation_Workshops_For_CFP_Candidates/Foran-5-day-Workshop-for-FPSC-Level-1-Examination-Candidates.html

Best of Luck 🙂

Registration is now open for our CFP Prep Seminars

We have seminars for both exams in the CFP program (and a case study seminar) running this November in Toronto and Vancouver. We are also running our Capstone Prep Workshop in September (more info here).

You will notice that the labels have changed on our website.

On July 1st, 2014, the Financial Planning Standards Counsel (FPSC) changed the names of their exams.

FPE1® à FPSC Level 1™ Examination in Financial Planning

FPE2® à  CFP® Examination

What has really changed?

FPSC had added a new designation: FPSC Level 1 Certification in Financial Planning. The purpose of this new designation is to offer some distinctive benefits to those on the path to the CFP Certification.

For more information on the FPSC Level 1 Certification, visit the FPSC’s webpage, here.

In terms of the exams

It’s still the same content.

There have been no significant changes to the FPSC Competency Profile. No more than normal updates.

FPSC Level 1 Exam is still on general knowledge, the CFP Exam on application, and you still submit a financial plan for your Capstone Course.

 

Now that we have cleared that up

You can go ahead and register for the FPSC Level 1™ Exam or the CFP® Exam (the FPSC’s earlybird discount ends Sept 29), and Foran’s prep seminar for your examination. Get studying.

 

Capstone Workshop September 15-16

Foran Financial’s Prep Workshop for the FPSC Capstone Course is coming up September 15-16 in Toronto

This is a great course for CFP candidates getting ready to submit their final plan for the Capstone Course.

Students who take this workshop tell us it really helps clarify what makes a good financial plan.

Instructors discuss content requirements, areas of assessment, and help students ensure that they have done all the right “know your client” steps.

For more information and to enroll, visit our website

Registration is open for our CFP seminars. Dates are listed on our website.

Keeping informed, and getting the information you want

Since CASL went into effect this Tuesday (Happy Canada Day by the way!) we have made some changes in the way we contact you.

By signing up for our mailing list you can now choose what kinds of messages you want from us and when.

Options:

Course Calendar – Includes all of our class dates, prices, and locations. We send this out only twice per year (January and June)

Last Call – Our class alerts tell you what classes are coming up. We send these once or twice a month.

CFP Candidate Information – Information pertinent to people pursuing their CFP designation through the FPSC. Including: updates on Foran’s seminars and material, course updates and clarifications, tips, tricks, and advice from our experts.

Occasional product and class updates – keep up to date on course changes, product updates, and other news from Foran.

 

What kind of information would you like to get from us? We would love to hear your suggestions!

Sign up here to get Foran calendars, alerts and updates.

 

RRSP Overview : Answers

Below are the answers to the quiz in last week’s post RRSP Overview .

ANSWERS

 

1. d) $7,800

Mrs. Doe’s contribution limit for 2012 is based upon earned income and pension adjustments for the year 2011. Her limit is the lesser of 18% of earned income from 2011 or $22,970 minus any pension adjustment (P A).

Her RRSP calculation is 18% x $60,000 = $10,800

Her pension adjustment (PA) is the total contribution made into her RPP by both, Mrs. Doe and her employer, in the year 2011, which is $3,000.

Mrs. Doe’s contribution limit= $10,800-$3,000 = $7,800

 

2. b) $4,620 spousal RRSP contribution

Mr. Young’s eligible contribution room to a spousal RRSP will be reduced by the amount he contributed to his own RRSP. Mr. Young’s contribution room for the year 2012 is based on earned income for the year 2011.

Year 2011 earned income= $34,000 x 18% = $6,120

Mr. Young has already contributed $1,500 into his own RRSP plan, therefore his contribution room for a spousal RRSP is reduced by $1 ,500

$6,120-$1,500 = $4,620

 

3. b) $5,200

$65,000 x 18% = $11,700 or $22,970 whichever is less.

minus $6,500 (5% + 5%) contributed to RPP.

 

4. b) $4,600

$45,000 x 18% = $8,100 or $22,970 whichever is less

minus $3,500 contribution to DPSP

 

5. a) Taxed in the hands of the contributing spouse

The contributor is responsible to cover the tax on any withdrawal in 2012 up to the total contributions made in the current and two proceeding calendar years or $4,500. CRA applies LIFO (Last In First Out) for the attribution mle.

 

FPE2 Advice from a CFP Professional

Here are some tips on managing your time on the FPE2 from a successful Foran student:

“I would continue to stress that FPE2 is very much a time management exam.  If you do not have reasonable typing skills or English is not your first language, it will probably be a struggle for you to write successfully – brush up on both as much as you are able prior to writing.  I finished FPE1 early (and had checked all responses) and was leaving the exam room after 3 hours.  I needed all the time in both morning and afternoon for FPE2.  English is my first language and I have quite reasonable typing skills. 

It was suggested to me that I begin with the case studies and spend 1 hour in total on them listing answers in point form (so at least something was there to mark) then to proceed to multiple choice and spend a max of 1 hour on those and then move back to the case studies and fine-tune the constructed responses. I would absolutely recommend this method since most marks are in constructed response. 

Watch the time on your screen, not the clock on the wall.  I know in talking to others that wrote with me (about 10 in our room), that about 1/3 did not finish the case study section and did not pay attention to the screen clock – when your time is up the screen shuts down with no real warning.  These folks also didn’t seem to know that the constructed response questions were not 1 mark per question as the multiple choice were. 

Your practice questions were very helpful.

Thanks for offering such complete exam preparation – it works!”

-Sherri

 

Thank you Sherri! And congratulations on your CFP!

If you have advice on writing the financial planning exams and want to share you experience with other candidates, please write in or comment below. I will be happy to post your suggestions.