CPFA Management Version 1 Practice Exam With Answers (72 Solved Questions)

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CPFA EXAM 2 VERSIONS WITH VERIFIED QUESTIONS ANDANSWERS RATED A+Which of the following reports can be used in measuring plan effectiveness and participantoutcomes?A) Number of terminated participants who elected to roll their accounts into IRAs.B) Average deferral rate of participants in the plan.C) Independent accountant's required annual audit of the plan.D) Summary Annual Report. - B) Average deferral rate of participants in the plan.All of the following are benefits of participant retirement readiness, EXCEPT:A) Employers can better manage their workforce needs.B) Participants receive a guarantee of lifetime income payments.C) Employees may be more satisfied with their jobs when working for an employer thatactively promotes retirement readiness programs.D) Employers can work with service providers who have tools to assist participants inincreasing retirement savings. - B) Participants receive a guarantee of lifetime incomepayments.All of following are items to consider when developing a strategy to promote successfulparticipant outcomes, EXCEPT:A) What is the average life expectancy for the participants' beneficiaries?B) Should investment advice be offered?C) Is senior level management interested in promoting "retirement readiness"?D) What type of participant education should be provided? - A) What is the average lifeexpectancy for the participants' beneficiaries?

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