How often is the CAPS supposed to be renewed? Can someone provide a reference for this. Thanks.
The rocket has to be replaced and the chute repacked (in practice this is done at the same time by installing an exchange package) after 10 years. The 10 years starts at the date of manufacture of the rocket - the date it is due will be in the aircraft logbook.
The line cutters (2 of) have a 6 year life. Again the date these are due will be in the aircraft logbook.
These questions and a zillion more have been asked, answered and discussed numerous times and you can get access to all that by joining COPA. If you are shopping for a Cirrus the $65 you spend to join will be invaluable. For example, you will learn why a CAPS repack for a G1 is more expensive than a G2 or G3.