Practice Quiz

FINRA Series 6

Category - Series 6

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Which of the following plans does not have the requirement that its participants must begin withdrawing funds from the plan by April 1st of the year after they turn 70 ½?

I. SIMPLE IRA
II. 401(k)
III. Roth IRA
IV. profit-sharing plan
  1. I and III only
  2. I, III and IV only
  3. III only
  4. All of the above have a mandatory distribution requirement.
Explanation
Answer: C - The Roth IRA does not have the requirement that its participants must begin withdrawing funds from the plan by April 1st of the year after they turn 70 ½. The Roth IRA does, however, have a mandatory distribution requirement that goes into effect if the participant dies.
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