8/20/26, 11:03 AM NAPA CPFA CERTIFICATION EXAM ACTUAL EXAM 2026 | CERTIFIED PLAN FIDUCIARY ACTUAL EXAM ALL QUESTIONS AN…
NAPA CPFA CERTIFICATION EXAM ACTUAL
EXAM 2026 | CERTIFIED PLAN FIDUCIARY
ACTUAL EXAM ALL QUESTIONS AND CORRECT
ANSWERS | BRAND NEW VERSION!
Terms in this set (77)
Explain ERISA exclusive purpose and The Exclusive Purpose Rule: A fiduciary must act
ERISA prudence rule solely in the
best interest of plan participants.
The Fiduciary Standard of Care: Prudence, Loyalty,
Diversification, Follow the Plan Document
Identify actions that might establish a assuming significant control over another person's
fiduciary relationship property or finances, having a high degree of trust
and confidence placed in you by another party,
making decisions on behalf of someone else with
their best interests in mind, providing professional
advice in a field where expertise is required,
managing assets on behalf of another person, and
entering into a legal agreement where one party is
explicitly designated as a fiduciary, such as a trust
or will.
Identify named fiduciaries Persons or entities specifically
named in the plan document
https://quizlet.com/1200609379/napa-cpfa-certification-exam-actual-exam-2026-certified-plan-fiduciary-actual-exam-all-questions-and-correct-answer… 1/21
,8/20/26, 11:03 AM NAPA CPFA CERTIFICATION EXAM ACTUAL EXAM 2026 | CERTIFIED PLAN FIDUCIARY ACTUAL EXAM ALL QUESTIONS AN…
Explain roles and responsibilities of Discretionary authority over
named fiduciaries management or the
administration of the plan
https://quizlet.com/1200609379/napa-cpfa-certification-exam-actual-exam-2026-certified-plan-fiduciary-actual-exam-all-questions-and-correct-answer… 2/21
, 8/20/26, 11:03 AM NAPA CPFA CERTIFICATION EXAM ACTUAL EXAM 2026 | CERTIFIED PLAN FIDUCIARY ACTUAL EXAM ALL QUESTIONS AN…
Identify actions covered by the Best Acknowledge fiduciary status for itself and its
Interest Contract Exemption financial advisers;
Adhere to basic standards of impartial conduct,
including: Giving prudent advice that is in the
customer's best interest (i.e., based on the
investment objectives, risk tolerance, financial
circumstances, and needs of the retirement
investors, without regard to financial or other
interests of the financial institution or financial
adviser); Avoiding making misleading statements;
and Charging no more than reasonable
compensation
Commit to the impartial conduct standards in an
enforceable contract when providing advice to an
IRA owner
Implement policies and procedures reasonably
and prudently designed to prevent violations of
the impartial conduct standards
Refrain from giving or using incentives for financial
advisers to act contrary to the customer's best
interest
Fairly disclose the fees, compensation, and material
conflicts of interest associated with their
recommendations.
Differentiate investment advice and Education = guidance to help others makes their
investment education OWN decisions
Advice: significant detail about an employee's
personal finances, goals and risk tolerance are
gathered in order to make projections.
https://quizlet.com/1200609379/napa-cpfa-certification-exam-actual-exam-2026-certified-plan-fiduciary-actual-exam-all-questions-and-correct-answer… 3/21
NAPA CPFA CERTIFICATION EXAM ACTUAL
EXAM 2026 | CERTIFIED PLAN FIDUCIARY
ACTUAL EXAM ALL QUESTIONS AND CORRECT
ANSWERS | BRAND NEW VERSION!
Terms in this set (77)
Explain ERISA exclusive purpose and The Exclusive Purpose Rule: A fiduciary must act
ERISA prudence rule solely in the
best interest of plan participants.
The Fiduciary Standard of Care: Prudence, Loyalty,
Diversification, Follow the Plan Document
Identify actions that might establish a assuming significant control over another person's
fiduciary relationship property or finances, having a high degree of trust
and confidence placed in you by another party,
making decisions on behalf of someone else with
their best interests in mind, providing professional
advice in a field where expertise is required,
managing assets on behalf of another person, and
entering into a legal agreement where one party is
explicitly designated as a fiduciary, such as a trust
or will.
Identify named fiduciaries Persons or entities specifically
named in the plan document
https://quizlet.com/1200609379/napa-cpfa-certification-exam-actual-exam-2026-certified-plan-fiduciary-actual-exam-all-questions-and-correct-answer… 1/21
,8/20/26, 11:03 AM NAPA CPFA CERTIFICATION EXAM ACTUAL EXAM 2026 | CERTIFIED PLAN FIDUCIARY ACTUAL EXAM ALL QUESTIONS AN…
Explain roles and responsibilities of Discretionary authority over
named fiduciaries management or the
administration of the plan
https://quizlet.com/1200609379/napa-cpfa-certification-exam-actual-exam-2026-certified-plan-fiduciary-actual-exam-all-questions-and-correct-answer… 2/21
, 8/20/26, 11:03 AM NAPA CPFA CERTIFICATION EXAM ACTUAL EXAM 2026 | CERTIFIED PLAN FIDUCIARY ACTUAL EXAM ALL QUESTIONS AN…
Identify actions covered by the Best Acknowledge fiduciary status for itself and its
Interest Contract Exemption financial advisers;
Adhere to basic standards of impartial conduct,
including: Giving prudent advice that is in the
customer's best interest (i.e., based on the
investment objectives, risk tolerance, financial
circumstances, and needs of the retirement
investors, without regard to financial or other
interests of the financial institution or financial
adviser); Avoiding making misleading statements;
and Charging no more than reasonable
compensation
Commit to the impartial conduct standards in an
enforceable contract when providing advice to an
IRA owner
Implement policies and procedures reasonably
and prudently designed to prevent violations of
the impartial conduct standards
Refrain from giving or using incentives for financial
advisers to act contrary to the customer's best
interest
Fairly disclose the fees, compensation, and material
conflicts of interest associated with their
recommendations.
Differentiate investment advice and Education = guidance to help others makes their
investment education OWN decisions
Advice: significant detail about an employee's
personal finances, goals and risk tolerance are
gathered in order to make projections.
https://quizlet.com/1200609379/napa-cpfa-certification-exam-actual-exam-2026-certified-plan-fiduciary-actual-exam-all-questions-and-correct-answer… 3/21
