RMA Professional Standards & Competencies 2

Question 1

An RMA designee discovers that a colleague is providing retirement income projections using assumptions that appear overly optimistic. What is the MOST appropriate first step?

Accepted Answer

Discuss the concern privately with the colleague and suggest reviewing the assumptions

Answer

The RMA Standards of Professional Conduct encourage addressing potential violations with the colleague first before escalating to formal reporting.

Question 2

Which of the following best describes the RMA's duty of loyalty when serving both a sponsoring employer and plan participants?

Accepted Answer

Balance competing interests while placing participants' retirement security first

Answer

The RMA's fiduciary framework requires that participant retirement security take precedence when conflicts arise between employer and participant interests.

Question 3

When an RMA candidate references the designation before officially receiving it, this constitutes:

Accepted Answer

A violation of RMA use-of-marks standards

Answer

Use-of-marks rules prohibit claiming a designation until all requirements—including experience and background checks—are formally completed and approved.

Question 4

A competency framework for retirement advisers typically identifies which three domains?

Accepted Answer

Knowledge, skills, and professional behavior

Answer

Competency frameworks generally organize requirements into knowledge (what you know), skills (what you can do), and professional behavior (how you act).

Question 5

An RMA practitioner who charges fees must ensure those fees are:

Accepted Answer

Disclosed, reasonable, and clearly communicated to clients

Answer

Fee transparency is a core professional standard: fees must be disclosed upfront, be reasonable relative to services, and be clearly understood by clients.

RMA Practice Test

RMA Practice Test

RMA Professional Standards & Competencies 2