10.1 Which of the following is (are) false regarding Social
A. an individual must be fully insured to receive
Social Security retirement benefits.
B. The maximum family benefit is determined
through a formula based on the workers PIA.
7.1 Which of the following statement is false?
A. CODAs are not permitted to use Social Security
B. Governmental entities cannot establish a 401k.
C. 401k plans must use 3-6 graded vesting or 3-year
D. Forfeiture must be reallocated to
11. 1 Employment after retirement will
a. always result in a loss of all Social Security
b. result in loss of some or all Social Security
Benefits only for those under Normal Retirement
Age who have earning above a specified threshold
c. result i
3.1 The age a catch up contribution may be made to an
Individual Retirement Account is ?
What is the penalty for excess contribution to an IRA
D. No penalty
3.5 Active Participant Status refers
4.1 Loans from an IRA are considered prohibited
4.2 What is the lower level of the agi phase out for Roth IRA
contribution as a single taxpayer?
4.4 What is the income limit unde
1.1 Which of the following statement is false?
A. Your desires will be evolving over time.
B. You should be able to borrow money to cover
your living expenses if you run out of money in
your old age.
C. It is important to reevaluate your financial
6.1 In a defined benefit plan, forfeitures must be used to:
Allocate to remaining participants
Reduce plan costs
Reduce actuarial assumptions
Pay terminated employees
6.2 An employer who wants to reward an employees years of
service and contri
9.1 The standard form of benefit from a defined benefit plan
is the Qualified Joint & Survivor Annuity. If Kim retires with a
$7500 monthly benefit, what is the standard benefit her
husband Kevin will receive if she predeceases him?
9.2 Tina d
8.1 The early distribution from a qualified plan penalty of
10% is waived for all but the following reason:
To pay a federal tax levy
Separation from service after the participant attains
D. Lump sum distribution at termination