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ASPPA certifications questions


Guest LVanSteeter

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Guest LVanSteeter

Okay, please bear with me:

I have worked for a major dc plan provider for 10+ years, currently I handle Form 5500 filings, however, over the years have had much training in various areas of DC plans. It was recently announced that my job will be moving to the Ohio River Valley area. While I am sure that is a beautiful area, relocation is not the best option for me at this time.

1-How difficult are the ASPPA PA-1, 2, 3; DC-1,2 tests?

2-Are the study materials sufficient?

3-Do you have to purchase the study materials to take the tests? (some co-workers in the same position considering sharing the study materials costs)

4-Does the certification really improve marketability?

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1. PA courses feature take home exams, so you figure it out. Compared to a couple graduate degrees and a CEBS, I thought DC1 and DC2 were quite difficult. Although there are probably some people who could do it this way and pass, I wouldn't recommend a weekend-prior cram session as your only preparation (like I did for a couple CEBS exams).

2. Yes.

3. All you have to pay is the exam fee. While it would be a pain to share the ERISA outline books and study guide, I guess it could be done.

4. I'll answer this with a question. If you were looking at two candidates for one opening, both with similar experience, wouldn't you give more weight to a person with a certification?

I've been doing d.c. stuff for almost 9 years and thought I knew this stuff cold. During my preparation for DC1 and DC2 last year, I discovered there was a lot I didn't know. Also, I found the reading helped reinforce what I already knew.

TGIF,

Maverick

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It sounds like you have a lot of experience and so you probably have a good knowledge base. I took the DC-1 and DC-2 last year with a 6+ year experience/knowledge base in the same exam window and I had no problems. I read through the study guides twice and went through the sample exams once. I did not touch the ERISA Outline Book. I thought the exams were very easy. However, this is only my personal experience so take it for what it is worth. It may not be the same for you.

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