CPFA EXAM QUESTIONS AND ANSWERS A.

CPFA EXAM QUESTIONS AND ANSWERS A.
Question : ERISA requires that fiduciaries manage the
plan for the exclusive benefit of which of the following
parties?
Correct answer: participants and their beneficiaries
Question : June is a Plan Sponsor of a small plan and
decided she'll be acting as the sole fiduciary of the plan.
All of the following are her responsibilities except?
Correct answer: Give investment advice to participants
Question : Under ERISA, the Plan Admin has the
following roles, except?
Correct answer: Redesigning the plan's employer
matching contribution formula
Question : Under ERISA, all of the following are Plan
Trustee responsibilities, except?
Correct answer: Oversee the plan administrator
Question : All of the following may be named fiduciaries
in a plan document, except?
Correct answer: Legal counsel who prepares the plan
document

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