401k plan Study guides, Class notes & Summaries

CEBS GBA Exam 1 Question with complete solution 2023Broad 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 r...

ERISA - Answer- Employee Retirement Income Security Act 1974 SOC Reports - Answer- Service Organization Controls: for external vendors SOC 1 - Answer- Internal Controls & Financial reports; used by auditors SOC 2 - Answer- Security, availability, processing integrity, confidentiality and privacy controls;used by management, regulators, and others under an NDA SOC3 - Answer- Same as SOC2, but available for public use. Tribble V Edison - Answer- Landmark court case re fiduciary resp...

Wisconsin Life Insurance Exam Questions With 100% Correct Answers A 60-year-old participant in a 401(k) plan takes a distribution and rolls it over to an IRA within 60 days. Which of the following is true? a) The amount of the distribution is reduced by the amount of a 20% withholding tax b) No taxes are due since the plan participant is over age 59 1/2 c) There is a 10% early withdrawal penalty d) The amount distributed is subject to ordinary income tax - a A claimant, whi is to...

Kentucky Life Insurance State Exam Practice Questions and Answers 2023 Solved 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 persona...

Kentucky Life Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100 % Correct| Grade A Q: Traditional individual retirement annuity (IRA) distributions must start by Answer: April 1st of the year following the year the participant attains age 70 1/2 Q: How are Roth IRA distributions normally taxed? Answer: Distributions are received tax-free Q: How can an insurance company minimize exposure to loss? Answer: Reinsurance Q: Al...

CRPC Full Vocabulary Test with A Graded Solutions Efficient market hypothesis - Answer-States that, at least for US equities markets, bargains cannot be found on any consistent basis. Rather, all important information about a company's performance and prospects is already reflected in the market prices of its shares. Elective contribution - Answer-A contribution made to a 401k plan by an employer on an employee's behalf pursuant to agreement for salary deferral. Elective deferral - Answ...

Broad view of Employee Benefits (Mod 1.1) - correct answer 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) - correct answer Any type of plan sponsored or initiated by Employees and Employers and engaged in providing benefits that result from the employ...

Which of the following statements is TRUE regarding digital assets? correct answers 1.) Some digital assets are securities 2.) All digital assets are securities 3.) Digital assets are exempt from anti-fraud provisions 4.) Digital assets are exempt from registration with state Admin. Explanation: Answer is A. Some digital assets are securites. Digital assets must meet four part Howey Test to meet definiton of security All of the following are examples of digital assets, EXCEPT: cor...

Life, Accident and Health Insurance Exam 2024 Questions Complete Solutions Qualified Plan - Answer - -approved by IRS for favorable tax treatment - tax deffered growth Qualified Plan Requirements - Answer - 1) Be in writing 2)provided for benefit of employee 3) must satisfy age and serive standards 4) cannot be discriminatory 5) contributions cannot exceed yearly maximus 6) must provide survivorship benefits 7) must meet miniumum vesting standards 8) cannot be top heavy Advantages of Q...

401k -:- Qualified plan for employees to make contributions on a post-tax or pretax basis with possible employer contributions and tax-deferred earnings. 403(b) -:- Retirement plan for nonprofit organizations 529 Plans -:- Tax-advantaged savings plans like the Utah Educational Savings Plan (UESP) for higher education costs. Advertising -:- Calling public attention to desirable qualities to create a desire to buy or do business. 2 | P a g e | G r a d e A + | 2 0 2 4 / 2 0 2 5 ...