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Certified IRA Services Professional (CISP) Practice Exam

Certified IRA Services Professional (CISP)


About Certified IRA Services Professional CISP

Certified IRA Services Professional CISP exam demonstrates the candidate's skills and abilities in the IRA service field. This exam has been designed for professionals knowing IRA documentation and maintenance requirements, IRA distribution & contribution, retiring plans considerations, etc.


Eligibility requirement for the exam

For this certification candidates must have four years of dedicated IRA operational or technical experience. Or they can have two years minimum of dedicated IRA operational or technical experience with the completion of ONE of the following educational programs:

  • Ascensus IRA Institute
  • ABA IRA Online Institute -- In conjunction with Ascensus Retirement Services, American Bankers Association (ABA)
  • Cannon Financial Institute IRA Professional School
  • Integrated Retirement Initiatives IRA School
  • The Entrust Trust Company IRA Academy   


Course Structure

The Certified IRA Services Professional (CISP) Exam covers the latest and updated topics - 

Module 1: Understanding IRA Documentation and Maintenance Requirements (13%)

  • Learn about plan establishment and maintenance
  • Learn about IRA disclosure statements, notices, and delivery methods
  • Learn about beneficiary designation
  • Learn about reporting and associated penalties


Domain 2: Overview of IRA Contributions (16%)

  • Learn about contribution eligibility, limits, and deadlines
  • Learn about deductibility and other tax issues
  • Learn about excess contributions rules and penalties


Domain 3: Describe Retirement Plan Portability (20%)

  • Learn about transfers
  • Learn about Rollovers
  • Learn about Conversions
  • Learn about Recharacterizations
  • Learn about Other transactions (e.g., repayments, recontributions)


Domain 4: Understanding IRA Distributions (20%)

  • Learn about taxation and withholding rules
  • Learn about required Minimum Distributions (RMD)
  • Learn about beneficiary distribution rules
  • Learn about penalties and penalty exceptions


Domain 5: Understanding Retirement Planning Considerations (11%)

  • Learn about beneficiary selection
  • Learn about trusts as beneficiaries
  • Learn about estate and income taxation


Domain 6: Explain IRA Fees and Investments (10%)

  • Learn about prohibited transactions, prohibited investments, and prohibited transaction exemptions
  • Learn about fees and disclosure rules
  • Learn about nontraditional investment issues
  • Learn about account valuation requirements


Domain 7: Overview of Employer Plans - SEP and SIMPLE (10%)

  • Learn about Eligibility
  • Learn about employer tax benefits
  • Learn about plan establishment and maintenance
  • Learn about contributions
  • Learn about portability
  • Learn about distributions


Exam Pattern 

  • Exam Name: Certified IRA Services Professional
  • Exam Code: CISP
  • Number of Questions: 150
  • Length of Time:  3 hours
  • Exam Language: English


What do we offer?

  • Full-Length Mock Test with unique questions in each test set
  • Practice objective questions with section-wise scores
  • An in-depth and exhaustive explanation for every question
  • Reliable exam reports evaluating strengths and weaknesses
  • Latest Questions with an updated version
  • Tips & Tricks to crack the test
  • Unlimited access


What are our Practice Exams?

  • Practice exams have been designed by professionals and domain experts that simulate real time exam scenario.
  • Practice exam questions have been created on the basis of content outlined in the official documentation.
  • Each set in the practice exam contains unique questions built with the intent to provide real-time experience to the candidates as well as gain more confidence during exam preparation.
  • Practice exams help to self-evaluate against the exam content and work towards building strength to clear the exam.
  • You can also create your own practice exam based on your choice and preference 


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