Research Methods & Evidence-Based Practice Flashcards
7 cards from real RAA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Research Methods & Evidence-Based Practice flashcards as text
Which of the following best describes 'practice guidelines' in the context of annuity advising?
Answer: Systematically developed statements to guide advisor and client decisions in specific situations
Practice guidelines synthesize current evidence into actionable recommendations to support consistent, high-quality advisory decisions.
A meta-analysis on fixed indexed annuity returns combines 15 individual studies. The main advantage of this approach is:
Answer: Increased statistical power and more precise estimates by pooling data
Pooling data across multiple studies increases sample size and statistical power, yielding more reliable and precise estimates.
An advisor notices that clients who seek annuity advice tend to already be more financially literate. This creates what type of research problem?
Answer: Selection bias
Selection bias occurs when the sample is not representative of the target population due to systematic differences in who is included.
In evidence-based annuity advising, 'external validity' refers to:
Answer: How well study findings generalize to other populations or settings
External validity concerns whether research results can be applied beyond the specific study sample to broader, real-world contexts.
Which of the following is the BEST example of applying evidence-based practice when recommending a deferred income annuity (DIA)?
Answer: Citing peer-reviewed longevity research to support the recommendation for a client with a family history of long life
Applying longevity research to an individual client's circumstances exemplifies evidence-based practice by linking scientific evidence to client-specific factors.
An annuity study reports 'internal validity.' This primarily concerns:
Answer: Whether the study design allows a causal conclusion to be drawn
Internal validity reflects the degree to which a study's design controls confounds, enabling confident causal inferences.
A financial planner uses a 'Monte Carlo simulation' when evaluating annuity options for a client. This tool is best described as:
Answer: A computational method that models thousands of random scenarios to estimate probability of outcomes
Monte Carlo simulation runs thousands of randomized scenarios using variable inputs to estimate the probability distribution of possible outcomes.