Thanks a lot Proud. I did my FAACA exam sometime back. I used the study guide available on
PilotTraining.ca : Learn to Fly! : PilotTraining.ca it costs $75 (canadian), it's pretty helpful and also has 3 sample test papers to work out. If you don't want to spend the money then you'll have to stick to studying from the CAR's. That will help too I guess. I scored a good 90% in the exam. It takes one morning to give the exam. I would suggest you complete the verification process of your FAA license and only then go for the exam. It takes about 4 - 5 weeks, took about 3 weeks for me.
I applied for the CPL + Multi Engine Rating. So it costs, $80 (issuance of license booklet) + $35 ( FAACA - FAA to Canadian CPL conversion) + $30 (Multi Engine Rating). It's just one exam that you have to give. You need to have a multi engine rating on your FAA license though. If you want a Instrument Rating you'll have to pay an extra $30 and write the Instrument Rating exam too. I din't take that up, since I didn't need it.