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15 Cards in this Set
- Front
- Back
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Where the requirements of law or regulation conflict with the ASPPA Code ofProfessional Conduct, the ASPPA Code of Professional Conduct takesprecedence. |
NO Where the requirements of law or regulation conflict with this Code, therequirements of law or regulation take precedence. |
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ASPPA members should only perform professional services when qualified to doso based on education, training or experience. |
TURE |
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An ASPPA member may be subject to discipline if found guilty of anymisdemeanor or any felony. |
NO Disciplinary action may be taken for any felony, but only financially-relatedmisdemeanors are subject to ASPPA’s counseling and disciplinary procedures. |
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Precautions should be taken to ensure that professional communications areappropriate to the circumstances and the intended audience. |
TRUE |
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The ASPPA Code of Professional Conduct must be prominently displayed in theoffices of an ASPPA member. |
NO The ASPPA Code of Professional Conduct need not be displayed in the officesof an ASPPA member. |
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An ASPPA member may not perform professional services if the member hasreason to believe that the services may be used to evade the law. |
TRUE |
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Working for clients with conflicting interests is not permissible even if fulldisclosure is made and both clients are willing to continue the relationship. |
NO Performing professional services involving a conflict of interest may bepermissible if the ASPPA member’s ability to act fairly is unimpaired, the conflicthas been fully disclosed to the principals and all principals have expressly agreed tothe performance of the services by the ASPPA member. |
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If there is reason to believe that a principal would not want information to bedivulged, it should be treated as confidential information. |
TRUE |
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It is not permissible for an ASPPA member to provide services to a principal whois currently being served by another benefits professional in the same matter. |
NO A member may provide service to any principal who requests it even if theprincipal is being or has been served by another benefits professional in the samematter. |
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Professional services should always be performed with honesty, integrity, skilland care. |
TURE |
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Which of the following statements regarding ASPPA's Code of Professional Conductis/are TRUE? I. False advertising with respect to professional services violates ASPPA’s Codeof Professional Conduct. II. An ASPPA member must disclose to a client all sources of compensationreceived with respect to services performed for such client. III. An ASPPA member may use ASPPA's membership titles and credentials onlyas permitted by ASPPA's Code of Professional Conduct. A. I only B. II only C. I and III only D. II and III only E. I, II and III |
E All of the statements are true. |
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All of the following actions are acceptable in accordance with the ASPPA Code ofProfessional Conduct, EXCEPT: A. Recommending that the client change the eligibility provisions in a plan that isadministered by another firm B. Reviewing the fee structure of another third party administrative firm with theclient C. Discussing with one client the fees paid by another client that the ASPPAmember services D. Offering to review the provisions of a client’s qualified plan that is administeredby another firm E. Releasing account information to a participant’s spouse with written permissionfrom the participant |
C Discussing with one client the fees paid by another client that the ASPPAmember services is a violation of confidentiality. “Confidential Information”refers to information not in the public domain of which the member becomesaware during the course of rendering professional services to a principal. |
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Which of the following actions is/are violations of the ASPPA Code of ProfessionalConduct? I. Being convicted of a misdemeanor due to simple assault II. Being convicted of felony charges of driving while intoxicated III. Performing a distribution calculation in a cacreless manner without gatheringsufficient informationA. I onlyB. II onlyC. I and III onlyD. II and III onlyE. I, II and III |
D While being convicted of a misdemeanor due to simple assault is undesirable, itis not a financially-related misdemeanor and is not a violation of the ASPPACode of Professional Conduct. |
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Which of the following actions is/are acceptable in accordance with the ASPPA Codeof Professional Conduct? I. Working for clients with conflicting interests if full disclosure is made andboth clients agree to continue the relationship II. Providing a plan document to a client after December 31, knowing that theclient intends to back date the document III. Releasing account information to a participant’s attorney without theparticipant’s consent A. I only B. II only C. I and III only D. II and III only E. I, II and III |
A Providing a plan document to a client after December 31, knowing that the clientintends to back date the document is violates the “control of work product”section of the ASPPA Code of Professional Conduct. Releasing accountinformation to a participant’s attorney without the participant’s consent is aviolation of confidentiality. Consent should be obtained before releasingconfidential information. |
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Which of the following actions is/are violations of the ASPPA Code of ProfessionalConduct? I. Using your QKA designation on your business card after failing to satisfyASPPA’s continuing education requirements II. Submitting a client's Form 8955-SSA on the due date without acknowledginga filing error warning received from the FIRE system III. Telling a potential client that you have experience working with newcomparability plans when you have never worked on an new comparabilityplan A. I only B. II only C. I and III only D. II and III only E. I, II and III |
E All are violations of ASPPA’s Code of Professional Conduct. |
