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Question 1

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ERISA was enacted primarily to do which of the following?

Guarantee positive investment returns for all retirement plans

Protect plan participants and beneficiaries by setting minimum standards for private-sector benefit plans

Replace the Internal Revenue Code rules for retirement plans

Require every employer to offer a pension plan

to track

2026 Statistics

Key Facts: CRPS Exam

Final Exam Questions

Kaplan CRPS page

70%

Passing Score

Kaplan CRPS page

3 hours

Time Limit

Kaplan CRPS page

$1,375

Current Package Price

Version 26 listing

120 days

Course Access

Kaplan catalog

2 attempts

Final Exam Attempts

Kaplan CRPS page

As of March 11, 2026, Kaplan's CRPS page lists an 80-question final exam, a 3-hour time limit, a 70% passing score, $1,375 current package pricing, 120 days of OnDemand access, and a maximum of two final-exam attempts. Kaplan publicly lists seven CRPS modules but does not publish public domain percentages or pass-rate data.

Sample CRPS Practice Questions

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1ERISA was enacted primarily to do which of the following?

A.Guarantee positive investment returns for all retirement plans

B.Protect plan participants and beneficiaries by setting minimum standards for private-sector benefit plans

C.Replace the Internal Revenue Code rules for retirement plans

D.Require every employer to offer a pension plan

Explanation: ERISA sets minimum standards for participation, vesting, funding, fiduciary conduct, disclosure, and claims procedures for private-sector employee benefit plans. It does not require employers to sponsor a plan or guarantee investment gains in defined contribution accounts.

2Which arrangement is generally covered by ERISA Title I?

A.A governmental 457(b) plan

B.A church plan that has not elected ERISA coverage

C.A private company's 401(k) plan for common-law employees

D.An IRA funded directly by an individual with no employer involvement

Explanation: ERISA generally applies to private-sector employer-sponsored benefit plans, including 401(k) plans. Governmental plans, non-electing church plans, and individually established IRAs are generally outside ERISA Title I coverage.

3Under ERISA preemption, state laws that "relate to" employee benefit plans are generally:

A.Automatically incorporated into ERISA

B.Preempted unless an exception applies

C.Binding only on insured 401(k) plans

D.Ignored only if the employer is publicly traded

Explanation: ERISA broadly preempts many state laws that relate to covered employee benefit plans to create a more uniform federal framework. Insurance, banking, and securities law exceptions make the analysis more nuanced, but preemption is the starting point.

4Which of the following is a core requirement for a retirement plan to be qualified under federal tax rules?

A.It must be funded only with employee contributions

B.It must be maintained in writing for the exclusive benefit of employees and beneficiaries

C.It must always provide immediate 100% vesting of employer contributions

D.It must be exempt from all nondiscrimination testing

Explanation: A qualified plan must satisfy written-plan, exclusive-benefit, and tax-code qualification rules. Immediate vesting is not always required, and qualified plans generally remain subject to coverage, nondiscrimination, and other compliance standards.

5A person is an ERISA fiduciary if that person:

A.Works in human resources for any employer that sponsors a plan

B.Exercises discretionary authority or control over plan management or assets

C.Receives compensation from the employer sponsoring the plan

D.Prepares payroll for participants with elective deferrals

Explanation: ERISA fiduciary status is functional, not just title-based. A person becomes a fiduciary to the extent the person exercises discretion over plan administration or plan assets, or gives investment advice for a fee under the applicable standard.

6When a company decides whether to start, amend, or terminate a retirement plan, it is usually acting in what capacity?

A.As a plan fiduciary

B.As a settlor

C.As a trustee

D.As a directed custodian

Explanation: Plan design decisions such as adopting, amending, or terminating a plan are generally settlor functions, not fiduciary functions. Fiduciary duties attach to how the plan is administered and managed once it exists.

7ERISA's duty of prudence is commonly described as requiring fiduciaries to act with the care, skill, prudence, and diligence of:

A.A reasonable plan participant

B.A prudent expert familiar with such matters

C.The employer's chief financial officer

D.The plan's oldest participant

Explanation: ERISA uses a prudent expert standard, which is stricter than ordinary negligence. The focus is on a prudent process and informed decision-making, not on hindsight after market performance is known.

8A fiduciary violates ERISA's duty of loyalty if the fiduciary:

A.Acts solely in the interest of participants and beneficiaries

B.Diversifies investments when appropriate

C.Uses plan assets to benefit the fiduciary's own business interests

D.Reviews fees charged to the plan

Explanation: The duty of loyalty requires fiduciaries to act solely in the interest of participants and beneficiaries for the exclusive purpose of providing benefits and paying reasonable plan expenses. Self-dealing and using plan assets to advance the fiduciary's own interests are classic loyalty violations.

9Which transaction is most likely a prohibited transaction unless an exemption applies?

A.The plan pays reasonable fees to an independent recordkeeper

B.The plan sells an asset to the plan sponsor at fair market value without an exemption

C.The fiduciary reviews the plan's investment policy statement

D.The employer makes a matching contribution according to the plan formula

Explanation: Sales, exchanges, and other transactions between a plan and a party in interest are generally prohibited unless a statutory or administrative exemption applies. Even fair market value does not eliminate the need to analyze the prohibited transaction rules.

10What is the primary purpose of the ERISA fidelity bond requirement?

A.To insure participants against market losses

B.To protect the plan against losses from fraud or dishonesty by persons handling plan funds

C.To guarantee the employer's matching contribution

D.To replace fiduciary liability insurance

Explanation: The ERISA bond protects the plan against losses caused by fraud or dishonesty by persons who handle plan funds or other property. It is different from fiduciary liability insurance, which generally protects fiduciaries rather than reimbursing the plan directly for dishonesty losses.

About the CRPS Exam

The CRPS designation focuses on designing, implementing, administering, and servicing employer retirement plans. It covers ERISA rules, defined contribution and defined benefit plan mechanics, participant issues, fiduciary standards, and current SECURE 2.0 planning updates relevant to plan sponsors and advisors.

Assessment

80-question final exam after seven self-paced modules

Time Limit

3 hours

Passing Score

70%

Exam Fee

$1,375 (College for Financial Planning (Kaplan))

CRPS Exam Content Outline

Official module (no public %)

Introduction to ERISA and the Fiduciary Standard

ERISA framework, qualified-plan rules, fiduciary status, prohibited transactions, and core plan documents.

Official module (no public %)

Employer-Funded Defined Contribution Plans

Profit-sharing, money purchase, 401(k) employer formulas, Roth features, and contribution-limit mechanics.

Official module (no public %)

Participant-Directed Retirement Plans

Participant investment control, 404(c), QDIA defaults, loans, hardship withdrawals, and distribution rules.

Official module (no public %)

Retirement Plan Solutions for Small Business Owners

SEP, SIMPLE, solo 401(k), IRA coordination, 403(b), 457(b), and practical small-employer plan selection.

Official module (no public %)

Retirement Plan Selection, Design and Implementation

Defined benefit and cash balance concepts, business-owner objectives, integrated formulas, new comparability, and controlled-group planning.

Official module (no public %)

Administering ERISA-Compliant Plans

Nondiscrimination, top-heavy and 415 limits, Form 5500, notices, audits, and operational correction methods.

Official module (no public %)

Working with Participants

QDROs, QJSA/QPSA, rollovers, RMDs, participant communication, service-provider oversight, and current SECURE 2.0 implementation items.

How to Pass the CRPS Exam

What You Need to Know

Passing score: 70%
Assessment: 80-question final exam after seven self-paced modules
Time limit: 3 hours
Exam fee: $1,375

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

CRPS Study Tips from Top Performers

1Master the plan-type comparisons first: 401(k), profit-sharing, money purchase, SEP, SIMPLE, solo 401(k), 403(b), 457(b), and cash balance

2Practice eligibility, vesting, and contribution-limit questions until the rules feel automatic

3Know which rules are sponsor-side administration issues versus participant-side distribution issues

4Use small-business case studies to decide which plan design best fits the owner's goals and workforce profile

5Spend extra time on ADP/ACP, top-heavy, Form 5500, and correction-program scenarios because those topics often separate surface knowledge from working knowledge

Frequently Asked Questions

How many questions are on the CRPS final exam?

Kaplan's current CRPS program page lists an 80-question final exam. Students get 3 hours to finish it and need a score of 70% or higher to pass.

What does the CRPS exam cover?

CRPS focuses on employer retirement plans rather than broad personal financial planning. The published module areas cover ERISA and fiduciary rules, defined contribution plans, participant-directed plans, small-business solutions, plan design and implementation, ERISA administration, and participant-facing distribution and servicing issues.

Does Kaplan publish official CRPS domain percentages or pass rates?

As of March 11, 2026, I did not find a public Kaplan source that publishes official CRPS content weightings or pass-rate statistics. Kaplan does publish the seven module areas, the final-exam logistics, the 120-day access window, and the two-attempt limit.

What 2026 retirement-plan changes matter most for CRPS prep?

Key 2026 items include the IRS increase of the basic 401(k)/403(b)/governmental 457(b) elective-deferral limit to $24,500, the general catch-up limit to $8,000, the age-60-to-63 catch-up limit to $11,250, and the IRA contribution limit to $7,500. CRPS candidates should also know the final Roth catch-up rule for higher-wage participants beginning in 2026 and SECURE 2.0's automatic-enrollment and long-term part-time employee changes that continue to shape plan design.

How long do I have to complete the CRPS program?

Kaplan's OnDemand CRPS format gives students 120 days from enrollment to complete the course requirements. Extensions of up to 60 days are available for a fee, and students have a maximum of two final-exam attempts during the access period.

How should I study for the CRPS exam?

Start with ERISA, fiduciary rules, and plan vocabulary so the later plan-design and administration modules make sense. Then work through contribution formulas, nondiscrimination/testing concepts, participant distribution rules, and timed mixed-topic sets so you can switch quickly between sponsor-side and participant-side scenarios.