61. Of the following survivors of a fully insured worker, ____ would not be elig
ID: 2677823 • Letter: 6
Question
61. Of the following survivors of a fully insured worker, ____ would not be eligible for social security benefits.a. dependent children b. spouse age 47, no children c. spouse age 65, with dependent children d. spouse age 65, no children e. spouse age 26, with dependent children
62. Annual increases in the social security benefit check are related to the
a. retiree's income. b. number of dependents. c. quality of life. d. current cost of living. e. pre-retirement cost of living.
63. Normal retirement age is typically defined as ____ years of age.
a. 50 b. 55 c. 60 d. 65 e. 70
64. The employer retirement plan that is intended to promote employee productivity and allows the employer to vary the amount of annual contributions is a
a. Qualified defined contribution plan. b. Thrift and savings plan. c. Profit sharing plan. d. 401(k) plan. e. 403(b) plan.
65. Home Appliance Warehouse, Inc. would like to set up a retirement plan for its employees that encourage employees to save for their own retirement. The company is willing to match employee contributions. Which of the following plans would be appropriate in this situation?
a. Cash balance plan b. 403(b) plan c. 457 plan d. 401(k) plan e. b, c, and d
66. Marcia works for Telephonic Industries and participates in its thrift and savings plan. For every $1.00 Marcia contributes to the plan, up to 4 percent of her salary, the company contributes $0.50. Which of the following accurately describe this plan?
a. It's a defined benefit plan. b. It's a non-contributory plan. c. It's a cash balance plan. d. It's a matching plan. e. It's a profit sharing plan
67. Employees of a nonprofit corporation can contribute to a(n)
a. 401(k) b. Kehoe Plan c. 403(b) d. HR10 e. 501(c)3
68. Attractive features of a 401(k) plan can include
a. guaranteed investment return and tax deferral. b. tax deferral and liquidity. c. liquidity and matching contributions. d. matching contributions and tax deferral. e. tax deferral and liquidity
69. With a graduated vesting schedule over five years, Marianne is likely to keep ____ of her employer's contribution if she leaves her company after four years.
a. 10% b. 20% c. 40% d. 60% e. 80%
70. In order to avoid penalties, one must typically start taking minimum distributions from most retirement accounts by age
a. 50. b. 59 . c. 65 d. 70 . e. 75
Explanation / Answer
spouse age 47
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