QPFC Practice Questions - NAPA Qualified Plan Financial Consultant (QPFC) Exam

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Under ERISA §404(a)(1)(B), an investment advisor servicing a 401(k) plan must act with the care, skill, prudence, and diligence of a person who is familiar with such matters. This is commonly referred to as which standard?

The prudent expert standard The reasonable layperson standard The good-faith effort standard The arm's-length transaction standard

Correct Answer:

The prudent expert standard

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