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American Bankers Association CTFA Exam - Topic 7 Question 1 Discussion

Simon has experience of dealing with retail clients and is now in training to qualify as a pension transfer specialist. As a consequence, which of the following statements are true?
B) His firm is allowed to impose a time limit on completion of the qualification and C) His supervisor must also be suitably qualified
A) He must have at least 3 years experience as an adviser before his training can commence
D) Once qualified, CPD requirements are waived for 12 months
E) Once qualified, records of his training must be maintained for at least 5 years

American Bankers Association CTFA Exam - Topic 7 Question 1 Discussion

Actual exam question for American Bankers Association's CTFA exam
Question #: 1
Topic #: 7
[All CTFA Questions]

Simon has experience of dealing with retail clients and is now in training to qualify as a pension transfer specialist. As a consequence, which of the following statements are true?

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Suggested Answer: B, C

by Karan at May 08, 2022, 08:09 PM

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Arlen
8 months ago
E is a must, records should always be kept for compliance.
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Alecia
9 months ago
D sounds surprising, I didn't know CPD could be waived!
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Tamekia
9 months ago
A seems off, I thought training could start sooner.
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Pamella
9 months ago
I think B is correct too, firms can set time limits.
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Chaya
9 months ago
C is definitely true, supervisors need to be qualified.
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Ettie
9 months ago
Alright, I've got this. The marital deduction rules are pretty straightforward, and I know the differences between transfers to citizen and non-citizen spouses. I'm confident I can nail this question.
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Kaycee
9 months ago
I'm a bit confused by this question. I'll need to re-read it a few times to make sure I understand what they're asking.
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Karma
10 months ago
I'm not totally confident on this one. The wording is a bit ambiguous, and I could see arguments for a couple of the options. I'll have to think it through carefully.
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