100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
CPFO Exam - Risk, Benefits, Procurement Exam Questions with 100% Correct Answers | Verified | Latest Update $13.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. CPFO - Certified Public Finance Officer
  4.  
  5. CPFO - Certified Public Finance Officer

Exam (elaborations)

CPFO Exam - Risk, Benefits, Procurement Exam Questions with 100% Correct Answers | Verified | Latest Update
 0 view  0 purchase
  • Course
  • CPFO - Certified Public Finance Officer
  • Institution
  • CPFO - Certified Public Finance Officer

CPFO Exam - Risk, Benefits, Procurement Exam Questions with 100% Correct Answers | Verified | Latest Update

Preview 3 out of 25  pages

Document information

  • November 20, 2024
  • 25
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • prudent person rule
  • cpfo exam risk benefits procurement exam quest
  • how many full time public employees are covered by
  • how many full time public employees are covered by

Written for

  • CPFO - Certified Public Finance Officer
  • CPFO - Certified Public Finance Officer

Seller

avatar-seller
professoraxel

Reviews received

Content preview

CPFO Exam - Risk, Benefits, Procurement
Exam Questions with 100% Correct Answers
| Verified | Latest Update

Howimanyifull-
timeipubliciemployeesiareicoveredibyidefinedibenefitiplans?i-
iCorrectiAnswer-Ninety-oneipercent




Howimanyifull-
timeipubliciemployeesiareicoveredibyidefinedicontributioniplans?i-
iCorrectiAnswer-nineipercent




Prudent-PersoniRulei-iCorrectiAnswer-
Requiresieachiretirementiboardimemberitoiperformihisioriheridutiesiasi
aiprudentipersoniwouldiwheniactingiiniailikeicapacityiandiiniaisimilarisitu
ation.


DefinediBenefitiPlani-iCorrectiAnswer-
Providesiforiaiguaranteedibenefitiatiretirementiusingiaiformulaigenerall
yibasedioniage,ilengthiofiserviceiandisalary.


DefinediContributioniPlani-iCorrectiAnswer-
Providesiforibenefitsibasedionitheiassetsiavailableiiniemployees'iindivid
ualiaccounts.

,DefinediBenefitiPlani-iEmployeriPerspectivei-iCorrectiAnswer-
"FundingiCertainty:iLiabilitiesichangeibasedioniactuarialiassumptionsire
gardingifutureisalaryiincreases,iinvestmentiearnings,iemployeeiturnove
riandiplaniexperience.iPredictableiCosts:iAnnualicontributionsicanivaryif
romiyearitoiyearibasediuponiactuarialiassumptions.iManyiplansiareifund
edibasedioniaiconsistentirateioficontributionisetibyistatute.iRecruitmenti
Tool:iTypicallyinotiportableibetweeniemployers,iunlessiunderisameium
brellaisystemi(e.g.iWRS).iRewardiLong-
serviceiEmployees:iBenefitsitypicallyibasedionifinaliyear(s)isalary.iAdmi
nistrativeiExpenses:iIncludeiactuarialivaluation,irecordikeepingiandiinve
stmentimanagement.iInvestmentiRisk:iAssumedibyitheiemployer."


DefinediBenefitiPlani-iEmployeeiPerspectivei-iCorrectiAnswer-
"BenefitiPotential:iBenefitsipaidiatiretirementiareiforilifeiandiareiguaran
teedibyitheiplan'siformula.iCOLAsiareicommon.iUnderstandingibenefits:
iRequireiexplanationiasitheyiareibasedioniaisetiofivariables.iTypically,ith

ereiareinoiseparateiaccounts.iAccessitoiAssetsiwhileiEmployed:iBenefitsi
mayinotibeiwithdrawniwhileiactivelyiemployed.iRewardilong-
serviceiEmployees:iBasedionifinaliyear(s)isalary.iRecruitmentiTool:iBene
fitsihaveilimitediportabilityiInvestmentiRisk:iRiskiisiassumedibyitheiempl
oyer."


DefinediContributioniPlani-iEmployeriPerspectivei-iCorrectiAnswer-
FundingiCertainty:iEmployeriliabilityiisifulfillediannuallyiasicontribution
siareimadeitoiemployeeiaccountsitypicallyibasedioniaipercentageiofipayr
oll.iPredictableiCosts:iAnnualicashiexpendituresiareimoreipredictableiasi
theyiareibasedioniaisetipercentageiofiemployeeisalaries.iRecruitmentito
ol:ibenefitsiareiportableiRewardilongiservice:iBenefitsiareibasediuponiac
cumulatedicontributionsiandiearningsiAdminiExpenses:iLower,iasinoiact

, uarialivaluationiisinecessary.iEmployeeieducationicostsiandirecordkeepi
ngimayibeihigher.iInvestmentiRisk:iAssumbedibyitheiemployee."


DefinediContributioniPlani-iEmployeeiPerspectivei-iCorrectiAnswer-
"BenefitiPotential:iBasedionicontributionsiandiearnings.iTheifinaliretire
mentibenefiticanibeierodedibyipre-
retirementidistributionsiandiinflation.iUnderstandingibenefits:iBenefitsi
basedioniaipercentageiofisalary.iNoiotherivariablesineeditoibeiconsidere
d.iEachiindividualihasiaiseparateiaccount.iAccessitoiAssetsiwhileiEmploy
ed:iBenefitsimayibeiwithdrawniundericertainicircumstancesi(e.g.iloans,i
death,ioridisability)iperiIRSiguidelines.iRewardsilong-
serviceiemployees:iNotireally,ibasedioniaccumulatediearningsiandicontr
ibutions."


Retirementiplanifundingiobjectivesi-iCorrectiAnswer-
1.iMaintainistableicontributioniratesi2.ieliminateitheiunfundediaccruedil
iabilityiwihtiniaicertainitimeiframei3.iMaintainiinter-
generationaliequityibyinotipassingicurrenticostsionitoifutureigeneration
si4.iUtilizeitechniquesitoihedgeiagainstiunexpectediadverseiexperience.


Retirementiplanifundingimethodsi-iCorrectiAnswer-
Level:iproduceicontributioniratesibasedionianievenipercentageiofipayrol
l.iGraduated:ifundsibenefitsibyiincreasingitheipercentageiofipayrollicont
ributionioverianiindividual'sicareer.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller professoraxel. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75057 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.99
  • (0)
  Add to cart