CRPS Practice Questions - CRPS Chartered Retirement Plans Specialist Exam - CRPS Practice Questions - CRPS Chartered Retirement Plans Specialist Exam

Question 1

ERISA was enacted primarily to do which of the following?

Guarantee positive investment returns for all retirement plans Protect plan participants and beneficiaries by setting minimum standards for private-sector benefit plans Replace the Internal Revenue Code rules for retirement plans Require every employer to offer a pension plan

Correct Answer:

Protect plan participants and beneficiaries by setting minimum standards for private-sector benefit plans

Question 2

Which arrangement is generally covered by ERISA Title I?

A governmental 457(b) plan A church plan that has not elected ERISA coverage A private company's 401(k) plan for common-law employees An IRA funded directly by an individual with no employer involvement

Correct Answer:

A private company's 401(k) plan for common-law employees

Question 3

Under ERISA preemption, state laws that "relate to" employee benefit plans are generally:

Automatically incorporated into ERISA Preempted unless an exception applies Binding only on insured 401(k) plans Ignored only if the employer is publicly traded

Correct Answer:

Preempted unless an exception applies

Question 4

Which of the following is a core requirement for a retirement plan to be qualified under federal tax rules?

It must be funded only with employee contributions It must be maintained in writing for the exclusive benefit of employees and beneficiaries It must always provide immediate 100% vesting of employer contributions It must be exempt from all nondiscrimination testing

Correct Answer:

It must be maintained in writing for the exclusive benefit of employees and beneficiaries

Question 5

A person is an ERISA fiduciary if that person:

Works in human resources for any employer that sponsors a plan Exercises discretionary authority or control over plan management or assets Receives compensation from the employer sponsoring the plan Prepares payroll for participants with elective deferrals

Correct Answer:

Exercises discretionary authority or control over plan management or assets

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About this Exam

Prepare with the CRPS Practice Questions - CRPS Chartered Retirement Plans Specialist Exam practice quiz. This question bank includes 100 questions covering plan, erisa, contributions, participant, and employee. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CRPS Practice Questions - CRPS Chartered Retirement Plans Specialist Exam

This practice set contains 100 questions from the matching question bank and focuses on plan, erisa, contributions, participant, and employee. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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CRPS Practice Questions - CRPS Chartered Retirement Plans Specialist Exam

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