10 case studies, with related constructed response questions
Strategy:
Multiple Choice
Complete the multiple-choice questions first within each session to build momentum
Spend 2 minutes per multiple choice question – 7/8 questions per session, roughly 20 minutes
Constructed Response
Complete the most demanding constructed-response questions first; those cases that award the highest number of marks
Steps to complete case study questions
Read the case in its entirety first
Read through the constructed response questions
Return to the case to read through a second time highlighting the key points
Begin responding to the questions
Common Mistakes:
Time Management
giving too much time to one case or one questions – know the mark value!
providing more answers than are required
knowledge dump
Knowledge vs. Competency
answers are not relevant to client scenario presented
answers are too generic and not client specific
don’t focus on product features as opposed to client benefits
Reading the Question
answers don’t address the question
don’t use information outside the scenario provided
don’t support both sides of an argument – choose a definitive yes or no, with a detailed rationale
Constructed Response Questions:
Will be in the form of case sets, consisting of a description of a client situation (case narrative ranging from one-third of a page to one full page or more) followed by one to three questions about that client situation
You will type your answers directly into the response template provided – usually in the form of a table
Each question will have the point allocation clearly indicated
You’ll be required to show your calculations as you work towards solutions to problems
Make Your Answers Client-Specific:
Be specific: for constructed response questions, answers must not be general in nature, but rather specific to each client’s situation. Must be able to demonstrate why and how your recommended strategy is appropriate for the client
Focus on client needs, not product features: as an example, when assessing suitable risk management solutions for a client, you should be able to demonstrate how an insurance option is appropriate for a client’s needs. Listing the features of an insurance policy without connecting it to the client’s needs will be insufficient
Support your recommendations: if you’re asked to make a specific client recommendation and support it, you won’t earn marks for giving both the potential advantages and disadvantages of an option
Other Key Notes:
You can’t return to the questions in part one after you start your break
Plan for how long you can spend on each question – track this as part of the practice exam
What is FP Canada asking of you?
Exam tries to trick you with wording
What do they want?
What is the core concept they are testing here?
How can I best answer this to prove my knowledge and command of the curriculum?
Don’t read the entire case study. Read the questions first, to be clear on the answers they are looking for and focus on that part of the case
Read multiple choice questions at least twice; don’t assume the first answer you get is the right one
