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
1. Employer Plans - SEP and SIMPLE (10%)
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%)
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 Name: Certified IRA Services Professional
- Exam Code: CISP
- Number of Questions: 150
- Length of Time: 3 hours
- Exam Cost: $550 USD
- Exam Language: English
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