2008 RPF Examination Errata

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RPF-1 Version 1 Exam

Question 13
Answer Choice B changed from “A small plan filer may continue to file as a small plan as long as the participant count remains at or below 120” to “A plan that filed as a small plan in year 5 but in year 6 has a participant count of 115 may file as a small plan for year 6.”

RPF-1 Exam, Version 1

Question 14, Answer A:
Currently reads: A. The amount of compensation used to compute the average in 2008 is limited to the maximum dollar limit.
Should read: A. The amount of compensation used to compute the average in 2008 is limited to the maximum compensation limit.

Question 37, Option B:
Currently reads: B. Participants in defined benefit plans must separate from service to receive early retirement benefits.
Should read: B. Participants in defined benefit plans must separate from service to receive early retirement benefits, unless an in-service withdrawal option is available for distributions upon attainment of age 62.

RPF-1 Exam Version 2

Question 39
Currently the question asks: 39. All of the following describe special events that require notification of the event to one or more participants, EXCEPT:
It should ask: 39. All of the following describe special events that require notification of the event, EXCEPT:

RPF-2 Exam, Version 1

Question 16, Option A:
Currently reads:
 A.  Amend a defined benefit plan to cease benefit accruals.

It should read:
 A.   File a final Form 5500 upon distribution of assets.

Question 40, Option II:
Currently reads:
II. Who pays for the correction can be determined by who is accountable for the error.
It should read:
II. In most cases, who pays for the correction can be determined by who is accountable for the error.

Question 43, Option III:
Currently reads:
III. The same standard that applies to employer monies applies to matching contributions.
It should read:
III. The same standard that applies to employee monies applies to matching contributions

Question 58, Option C:
Currently reads:
C. It must be given when there is a conversion from one retirement plan administration firm to another.
It should read:
C. It must be given when there is a conversion from one retirement plan administration firm to another and it will take more than three consecutive business days to complete the process.

RPF-2 Exam Version 2

Question #22
The wording in option C currently reads:  A matching contribution must be made to the plan.
The wording in option C should read:  A matching contribution or a nonelective contribution must be made to the plan.

Question #71
Option E currently reads:  In a daily valuation plan the participant benefits from any market change through the date the shares are sold.
Option E should reads:  In a daily valuation plan the participant benefits from any market gain through the date the shares are sold.