CISP Exam Test Prep | 100% Correct Answers |
Verified | Latest 2024 Version
What did the UCA create? - ✔✔Unemployment compensation amendment (1992)
What 3 documents are required when establishing an IRA? - ✔✔Plan agreement, disclosure statement,
and financial statement
What type of IRA can distribute funds tax free? - ✔✔Roth IRA
Name the types of IRA's - ✔✔Roth, Traditional, Simple, SEP
What is the plan agreement? - ✔✔Trust Document that contains articles that outline rules governing the
IRA. (IRS form 5305 is most used)
hat did the ERISA allow as a maximum annual contribution? (Employee retirement income security act) -
✔✔$1,500
When are financial disclosures required and when do they need to be amended? - ✔✔They are required
upon account establishment and never required to be amended.
What year was the first IRA established? - ✔✔1975
What form ensures rightful heirs receive IRA proceeds? - ✔✔Beneficiary designation form
What law created Roth IRA's - ✔✔Taxpayer relief act of 1997
What type of IRA allows employees to defer a portion of their wages to a retirement plan? - ✔✔Simple
IRA
What year was the ERISA into law? - ✔✔1974
Verified | Latest 2024 Version
What did the UCA create? - ✔✔Unemployment compensation amendment (1992)
What 3 documents are required when establishing an IRA? - ✔✔Plan agreement, disclosure statement,
and financial statement
What type of IRA can distribute funds tax free? - ✔✔Roth IRA
Name the types of IRA's - ✔✔Roth, Traditional, Simple, SEP
What is the plan agreement? - ✔✔Trust Document that contains articles that outline rules governing the
IRA. (IRS form 5305 is most used)
hat did the ERISA allow as a maximum annual contribution? (Employee retirement income security act) -
✔✔$1,500
When are financial disclosures required and when do they need to be amended? - ✔✔They are required
upon account establishment and never required to be amended.
What year was the first IRA established? - ✔✔1975
What form ensures rightful heirs receive IRA proceeds? - ✔✔Beneficiary designation form
What law created Roth IRA's - ✔✔Taxpayer relief act of 1997
What type of IRA allows employees to defer a portion of their wages to a retirement plan? - ✔✔Simple
IRA
What year was the ERISA into law? - ✔✔1974
