401k plan Study guides, Class notes & Summaries

"The Golden Mean" - Refers to a formula for achieving perfect proportion. 1 tablespoon - 3 teaspoons 10 month old and 12 month old will do what if placed in the same room? - solitary 1st step in problem-solving - Identify or state the problem. 401K Plan - -You cannot use the money saved as a collateral for loans, They can invest in anything the wish, they match employee's contributions, pre-tax savings. -contribution plan where an employee can make contributions from his or her paycheck...

Kentucky Life Insurance State Exam Practice Questions with Certified Answers The premiums paid by an employer for his employee's group life insurance are usually considered to be Tax-deductible to the employer Which of these is NOT considered to be a cost connected with an individual's death? Business expenses These are all accurate statements regarding universal life insurance EXCEPT Policy loans are not permitted Which of these is NOT relevant when determining the amount of personal life...

UGBA 135 Midterm Emergency fund - correct answer in a savings account 3-6 months living expenses Definition of millionaire - correct answer financially independent Rule of 72 - correct answer The number of years it takes for a certain amount to double in value is equal to 72 divided by its annual rate of interest. Each time you get paycheck, what is % goal you should put away (savings goal) - correct answer 20% What does being frugal mean - correct answer not spending freely or unne...

Bankruptcy - A legal proceeding involving a person or business that is unable to repay outstanding debts. The bankruptcy process begins with a petition filed by the debtor (most common) or on behalf of creditors (less common). Benefits - Include various types of non-wage compensation provided to employees in addition to their normal wages or salaries.[1] In instances where an employee exchanges (cash) wages for some other form of benefit is generally referred to as a 'salary packaging' or...

CEBS GBA Exam 1 Questions and Answers Already Passed Broad view of Employee Benefits (Mod 1.1) Considers Employee Benefits to be virtually any form of compensation other than direct wages paid to Employees (Ex: WC, Unemployment, State DI, SS, Vacation, Holidays, 401K/Retirement, Employer share of Medical, Severance Pay, Child Care, etc..) Narrow view of Employee Benefits (Mod 1.1) Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benefits that result fr...

CEBS GBA Exam 1 Questions and Answers Already Passed Broad view of Employee Benefits (Mod 1.1) Considers Employee Benefits to be virtually any form of compensation other than direct wages paid to Employees (Ex: WC, Unemployment, State DI, SS, Vacation, Holidays, 401K/Retirement, Employer share of Medical, Severance Pay, Child Care, etc..) Narrow view of Employee Benefits (Mod 1.1) Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benefits that result fr...

Verification Form I-9 must be completed by applicants providing proof of identity and employment eligibility within ______ of employment. - ans 3 days What type of business is the easiest to establish and allows the owner to determine how profits are used although they are personally liable for all debt and assets? - ans Sole Proprietorship A ______is a joint co-owner partnership established to specifically increase bonding and bidding capacities and profits. - ans General Proprie...

CEBS GBA Exam 1 Questions and Answers Already Passed Broad view of Employee Benefits (Mod 1.1) Considers Employee Benefits to be virtually any form of compensation other than direct wages paid to Employees (Ex: WC, Unemployment, State DI, SS, Vacation, Holidays, 401K/Retirement, Employer share of Medical, Severance Pay, Child Care, etc..) Narrow view of Employee Benefits (Mod 1.1) Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benefits that result fr...

USAA Test Questions and Answers 100% Correct ___ of continuing education MUST be completed in the classroom or classroom equivalent. - 50% A 55-year-old recently received a $30,000 distribution from a previous employer's 401k plan, minus $6,000 withholding. Which federal taxes apply if none of the funds were rolled over? - Income taxes plus a 10% penalty tax on $30,000 A 66 year old is covered under a group health plan while employed with a business that has 40 employees. If she injurers...

FPC Practice Exam 188 Questions with Verified Answers Cafeteria plan are authorized by what Internal Revenue Code Section? A. 125 B. 401k C. 403b D. 457b - CORRECT ANSWER a. 125 all of the following are tax implications of a cafeteria plan except: a. no income tax withholding b. no social security and medicare tax withholding c. must withhold income, social security, and medicare taxes d. no form W2 reporting - CORRECT ANSWER C. must withhold income, social security, and medicare t...