Knowledge Exam Guidelines
The knowledge areas below are the basis for the Certified IRA Specialist II (CIS II) examination.
Required Minimum Distributions (RMDs) (16%)
- RMD rules
- Processing RMD payments
- FMV adjustments
- Avoiding RMD liability
- Beneficiary changes
Portability (16%)
- Moving assets to an employer plan
- Divorce transfers
- Violating the portability rules
Beneficiary Concepts (30%)
- Steps in processing a death claim
- Beneficiary options
- Portability of death benefits
Excess Contributions and Recharacterizations (20%)
- Removing an excess before the deadline
- Reporting the withdrawal of an excess
- Definition of net income attributable
- Types of contributions that can be recharacterized
- Recharacterization deadline
- Processing a recharacterization
Previous IRA Knowledge (5%)
- Contribution limits
- Contribution deadlines
- Distribution rules
- Tax reporting requirements
Withholding (6%)
- Federal withholding requirements
- Calculating withholding amounts
Conversions (7%)
- Definition of a conversion
- Processing a conversion
