model_specs.rb

RSpec.describe InvestmentType, type: :model do
  subject { create :investment_type }

  it { is_expected.to have_attributes(name: 'Real Estate') }
end

RSpec.describe ComplianceItems, type: :model do
  context 'no parents' do
    subject { create :compliance_item }

    it { should belong_to(:investment_type) } # Real Estate
    it { is_expected.to have_attributes(title: 'Insurance in place ?') }
    it { is_expected.to have_attributes(parents: []) }
  end
  
  context 'with parents' do
    let(:insurance) { create :compliance_item, title: 'Insurance in place ?' } # id: 1 
    let(:valuation)  { create :compliance_item, title: 'Valuation complete ?'  } # id: 2
    subject { create :compliance_item, title: '5500 filed ?', parents: [insurance.id, valuation.id] }

    it { should belong_to(:investment_type) } # Real Estate
    it { is_expected.to have_attributes(title: '5500 filed ?') }
    it { is_expected.to have_attributes(parent_ids: [1, 2]) }
  end
end

RSpec.describe UserInvestments, type: :model do
  context 'Real Estate' do
    subject { create :user_investment }  # Real Estate

    it { should belong_to(:investment_type) }
    it { should belong_to(:user) }
    it { should have_many(:user_compliances) }
    it { is_expected.to have_attributes(title: 'X Propoerty') }
  end
  
  context 'Precious Metals' do
    let(:metals) { create :investment_type, name: 'Precious Metals'}
    subject { create :user_investments, investment_type: metals  }

    it { should belong_to(:investment_type) }
    it { should belong_to(:user) }
    it { should have_many(:user_compliances) }
    it { is_expected.to have_attributes(title: 'Gold Bars') }
  end
end

RSpecs.describe UserCompliance, type: :model do
  context 'Insurance in place? COMPLETED' do
    let(:uinv) { create :user_investment } # Real estate - X Property
    subject { create :user_compliance, user_investment: uinv, completed: true  }

    it { should belong_to(:user_investment) }
    it { should belong_to(:compliance_item) }
    it { is_expected.to have_attributes(compliance_item.title: 'Insurance in place ?' } }
    it { is_expected.to have_attributes(due_date: Date.today + 15.days ) }
    it { is_expected.to have_attributes(completed: Date.today) }
  end

  context '5500 filed? PENDING' do
    let(:uinv) { create :user_investment } # Real Estate - X Property
    let(:citem) { create :compliance_item, title: '5500 filed ?' }
    subject { create :user_compliance, user_investment: uinv, compliance_item: citem  }

    it { should belong_to(:user_investment) }
    it { should belong_to(:compliance_item) }
    it { is_expected.to have_attributes(compliance_item.title: '5500 filed ?' } }
    it { is_expected.to have_attributes(due_date: Date.today + 15.days ) }
    it { is_expected.to have_attributes(completed: nil) }
  end
end

UserInvestment.completed and UserInvestment.completed_date seem to be redundant, especially considering if their values somehow become inconsistent. I would suggest making the completed attribute be a datetime and dropping the completed_date attribute. completed can be treated as “truthy”, and we can create a is_complete? getter method to return a boolean when necessary.

Nitpicks:
“Inssurance” => “Insurance” ; “Medals” => “Metals"