Certified Plan Sponsor Professional (CPSP) Practice Exam

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Prepare for the Certified Plan Sponsor Professional Exam. Use flashcards and multiple choice questions with full explanations. Achieve exam success!

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Which services are typically provided by a bundled service provider?

Recordkeeping, compliance, administration and investments
Investment banking and financial analysis
Legal consultations and asset management
Marketing and advertising for funds

The correct answer is: Recordkeeping, compliance, administration and investments

A bundled service provider typically offers a comprehensive suite of services that includes recordkeeping, compliance, administration, and investments. This integrated approach allows plan sponsors to streamline operations by having one provider manage multiple aspects of their retirement plan. Recordkeeping is essential for tracking participant accounts and transactions, ensuring accurate account balances. Compliance services help plans adhere to regulatory requirements, avoiding potential penalties. Administration includes the day-to-day operations of the retirement plan, such as processing contributions and distributions. Finally, investment services involve selecting and managing the investment options available in the plan. By providing all these interconnected services, bundled service providers can enhance efficiency and simplify the management of retirement plans, making it easier for plan sponsors to fulfill their responsibilities.