FINRA Series 6

Category - Series 6

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Which of the following plans allows the contributor to withdraw both his earnings and contributions tax-free if certain conditions are met?

Roth IRA
traditional IRA
money purchase plan
401(k) plan

Explanation

Answer: A - The Roth IRA allows the contributor to withdraw both his earnings and contributions tax-free if the Roth IRA has been in existence for at least 5 years and the contributor has reached the age of 59 ½. In all of the other choices, only non-tax-deductible contributions may be withdrawn tax-free.

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FINRA Series 6

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FINRA Series 6

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