AIF Test Exam ,Most Recent Exam 2026 Actual Comprehensive
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Monitoring Criteria - ANSWER-Monthly custodial
statements
Quarterly manager
performance
Annually-
=IPS
Service Providers every 3
years
Trust or Endowment docs can specify? - ANSWER-ESG or SRI
investments-
when directed by valid governing
documents
Define Service Requirements - ANSWER-
Services Needed
Service Provider
offered
Opportunity to bundle
services
,Criteria-costs, perf, size,
experience etc
Custodial Roles - ANSWER-Hold
securities
Report on
holdings
Collect interest and
dividends
Affect
trades
408b2 disclosures - ANSWER-Fiduciary Status
Description of services provided
All direct or indirect compensation
Documentaion - ANSWER-Best way to demonstrate
due diligence is
consistently
applied
Electing Safe Harbor plans may - ANSWER-Insulate the
fiduciary from liability
associated with certain investment related
decisions and acts
405(c) General Safe Harbor Provisions - ANSWER-Allow for
delegation of prudent investment decisions
Investment decisions delegated to prudent experts
, Prudent Process followed
Experts are given discretion
RIA must acknowledge fiduciary status
Must be monitored
404(c) Safe Harbor Provisions - ANSWER-Notifying in
writing 404c plan
Three different investment
options
Opportunity for participants to get
investment directions
Opportunity for participants to change investment directions
Opportunity for participants to change allocation to min risk of
large losses
Inform and educate on investment options
Be able to change investment at least quarterly
Plan admin must comply with disclosures for 404a5
Fiduciary Advisor must - ANSWER-Acknowledge fiduciary
status in writing
Avoid conflicts of interest
Disclose all compensation
Qualified Default Investment Alternative (QDIA) defined as: -
ANSWER-Age based funds Risk based funds
Managed accounts
Money market type allowable for up to 120 days
Real Exam Questions And Verified Answers (100% Correct
Answers) Already Graded A+ | Guaranteed Success | Newest
Exam | Just Released!!
Monitoring Criteria - ANSWER-Monthly custodial
statements
Quarterly manager
performance
Annually-
=IPS
Service Providers every 3
years
Trust or Endowment docs can specify? - ANSWER-ESG or SRI
investments-
when directed by valid governing
documents
Define Service Requirements - ANSWER-
Services Needed
Service Provider
offered
Opportunity to bundle
services
,Criteria-costs, perf, size,
experience etc
Custodial Roles - ANSWER-Hold
securities
Report on
holdings
Collect interest and
dividends
Affect
trades
408b2 disclosures - ANSWER-Fiduciary Status
Description of services provided
All direct or indirect compensation
Documentaion - ANSWER-Best way to demonstrate
due diligence is
consistently
applied
Electing Safe Harbor plans may - ANSWER-Insulate the
fiduciary from liability
associated with certain investment related
decisions and acts
405(c) General Safe Harbor Provisions - ANSWER-Allow for
delegation of prudent investment decisions
Investment decisions delegated to prudent experts
, Prudent Process followed
Experts are given discretion
RIA must acknowledge fiduciary status
Must be monitored
404(c) Safe Harbor Provisions - ANSWER-Notifying in
writing 404c plan
Three different investment
options
Opportunity for participants to get
investment directions
Opportunity for participants to change investment directions
Opportunity for participants to change allocation to min risk of
large losses
Inform and educate on investment options
Be able to change investment at least quarterly
Plan admin must comply with disclosures for 404a5
Fiduciary Advisor must - ANSWER-Acknowledge fiduciary
status in writing
Avoid conflicts of interest
Disclose all compensation
Qualified Default Investment Alternative (QDIA) defined as: -
ANSWER-Age based funds Risk based funds
Managed accounts
Money market type allowable for up to 120 days
