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Enrolled Actuary Exam Prep

Category - Enrolled Actuary

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A plan sponsor borrows $100,000 from the plan. The loan, plus a reasonable rate of interest, is repaid within 90 days. Consider the following statement: The loan is a prohibited transaction.Is the above statement true or false?

True
False

Explanation

Answer: A - True

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Enrolled Actuary Exam Prep

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