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Certified IRA Services Professional (CISP) Practice Exam

Certified IRA Services Professional (CISP)

About Certified IRA Services Professional CISP

Certified IRA Services Professional CISP exam demonstrates the candidate skills and abilities in the IRA service field. This exam has been designed for professionals having knowledge in IRA documentation and maintenance requirements, IRA distribution & contribution, retiring plans considerations, etc.

Eligibility requirement for the exam

For this certification candidates must have four years of dedicated IRA operational or technical experience. Or they can have two years minimum of dedicated IRA operational or technical experience with the completion of ONE of the following educational programs:

  • Ascensus IRA Institute
  • ABA IRA Online Institute -- In conjunction with Ascensus Retirement Services, American Bankers Association (ABA)
  • Cannon Financial Institute IRA Professional School
  • Integrated Retirement Initiatives IRA School
  • The Entrust Trust Company IRA Academy   

Course Structure

1. Employer Plans - SEP and SIMPLE (10%)

A. Eligibility

B. Contributions

C. Portability

D. Distributions

E. Reporting

F. Plan establishment and maintenance

G. Employer tax benefits

2. IRA Documentation and Maintenance Requirements (10%)

A. Plan establishment and maintenance

B. IRA disclosure statements and notices

C. Beneficiary designation

D. Electronic documentation

E. Reporting and associated penalties

3. IRA Contributions (15%)

A. Contribution eligibility

B. Deductibility and other tax issues

C. Excess contributions rules and penalties

4. Retirement Plan Portability (25%)

A. Transfers

B. Rollovers

C. Conversions

D. Recharacterizations

5. IRA Distributions (20%)

A. General taxation and withholding rules

B. Required Minimum Distributions (RMD)

C. Beneficiary distribution rules

D. Penalties and penalty exceptions

6. IRA Fees and Investments (10%)

A. Prohibited transactions and prohibited investments

B. Fees and disclosure rules

C. Nontraditional investment issues

D. Account valuation requirements

7. Retirement Planning Considerations (10%)

A. Beneficiary selection

B. Trusts as beneficiaries

C. Estate and income taxation

Exam Pattern 

  • Exam Name: Certified IRA Services Professional
  • Exam Code: CISP
  • Number of Questions: 150
  • Length of Time:  3 hours
  • Exam Cost: $550 USD
  • Exam Language: English

What do we offer?

  • Full-Length Mock Test with unique questions in each test set
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  • An in-depth and exhaustive explanation for every question
  • Reliable exam reports evaluating strengths and weaknesses
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  • Tips & Tricks to crack the test
  • Unlimited access

What are our Practice Exams?

  • Practice exams have been designed by professionals and domain experts that simulate real time exam scenario.
  • Practice exam questions have been created on the basis of content outlined in the official documentation.
  • Each set in the practice exam contains unique questions built with the intent to provide real-time experience to the candidates as well as gain more confidence during exam preparation.
  • Practice exams help to self-evaluate against the exam content and work towards building strength to clear the exam.
  • You can also create your own practice exam based on your choice and preference 

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