CPFA Management Version 2 Practice Exam With Answers (163 Solved Questions)
Get exam-ready with CPFA Management Version 2 Practice Exam With Answers, a reliable collection of past test questions.
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VERSION 2
As a non-fiduciary advisor, you can meet with your client on a recurring basis (quarterly,
annually, etc) if providing - general investment reports or discussing the appropriateness of
the investments to the plan without making specific investment suggestions.
Plan fiduciaries will almost always have to hire - service providers for their plan under their
ERISA "duty to obtain expert assistance."
As a best practice, the advisor can help fiduciaries select: - the service providers, which
usually includes a TPA and a record keeper.
In owner driven smaller plans, the advisor can assist the - plan sponsor's HR staff - which is
likely to be one person in working with the various plan service providers.
In larger participant driven plans, the advisor can work with - the HR director, CFO, and the
retirement plan committee to evaluate service providers.
A 3(21) fiduciary does not serve as a fiduciary investment manager, but instead usually as -
investment advice fiduciary
f your client wants an advisor to manager plan investments, or just the QDIA, they can hire a
- 3(38) fiduciary advisor.
A 3(21) fiduciary advisors can recommend investments but the final decision on which
investments to choose is up to the - plan fiduciaries.
CPFA EXAM 2 VERSIONS WITH VERIFIED QUESTIONS AND ANSWERS RATED A+
As a non-fiduciary advisor, you can meet with your client on a recurring basis (quarterly,
annually, etc) if providing - general investment reports or discussing the appropriateness of
the investments to the plan without making specific investment suggestions.
Plan fiduciaries will almost always have to hire - service providers for their plan under their
ERISA "duty to obtain expert assistance."
As a best practice, the advisor can help fiduciaries select: - the service providers, which
usually includes a TPA and a record keeper.
In owner driven smaller plans, the advisor can assist the - plan sponsor's HR staff - which is
likely to be one person in working with the various plan service providers.
In larger participant driven plans, the advisor can work with - the HR director, CFO, and the
retirement plan committee to evaluate service providers.
A 3(21) fiduciary does not serve as a fiduciary investment manager, but instead usually as -
investment advice fiduciary
f your client wants an advisor to manager plan investments, or just the QDIA, they can hire a
- 3(38) fiduciary advisor.
A 3(21) fiduciary advisors can recommend investments but the final decision on which
investments to choose is up to the - plan fiduciaries.
CPFA EXAM 2 VERSIONS WITH VERIFIED QUESTIONS AND ANSWERS RATED A+
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Subject
Chartered Financial Analyst