It's good idea to use Ping test with rma itself string (instead of target host name like localhost) as Master test to all tests, performed by particular RMA agent.
Not in this case.
When you have 2 agents that check the same set of servers (using backup or load balancing mode), you do not want to stop monitoring when 1 agent is out of service. Otherwise what sense of using backup agent??
You may setup such test to be informed when there are some problems with agent. However for Master test you should use some "regular" test that can be backuped by backup agent just like Dependant tests.
In other words, if you have 2 RMA agents that checks many hosts in the same LAN, I would recommend to setup several Master tests (each test should be performed by RMA, not HostMonitor)
1) main Master test (TestA) that will check that at least 1 RMA works: "Ping localhost"
2) subMaster tests dependant on TestA, should check if target systems are alive. Setup 1 Ping test for each monitored system (TestB1, TestB2...)
Then setup all other items, make them dependant on TestB1, TestB2...
Regards
Alex