Practice Quiz

FINRA Series 6

Category - Series 6

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Which of the following entities is eligible to establish a Keogh Plan?
  1. Ms. Dee Ziner is the owner of an interior design company that is established as a sole proprietorship.
  2. Mr. Hans Deutsch is the owner of a Subchapter S Corporation that imports only Bavarian-made goods.
  3. Mr. Will Writer teaches English at a community college and does freelance writing to supplement his income.
  4. Both A and C are eligible to establish a Keogh Plan.
Explanation
Answer: D - Both A and C are eligible to establish a Keogh Plan. Any individual who is self-employed, even in a second job, is eligible to set up a Keogh Plan as long as they have established themselves as sole proprietors and not as any form of corporation.
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