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No other qualified plan or 403(b) - ANSWER Simple IRA or Simple 401(k) Younger employees benefit from years of contributions and compounding - ANSWER Profit sharing, SEP, or Tandem Plan Business has stable cash flow and owner willing to make annual financial commitment, but either unwilling or unable to commit more than 25% compensation - ANSWER Money Purchase or Target Benefit Plan to provid age-weighted plan

1. Whole life policies are designed to provide what ANS Level premiums, a guaran- teed death benefit no matter when the insured dies and guaranteed cash flow 2. Facts about a Roth IRA ANS With drawls from a Roth IRA for a first time home purchase, up to $10,000, or not penalized if the five-year holding period has been met. Total IRA contributions, both Ross and traditional, or aggregated and cannot exceed $6000. Distributions of principal from a Roth IRA are not subject to the 10% penalty. F...

CRPC Test Questions with Complete Solutions Desire to provide tax-deferred savings for employees - Answer-Simple IRA or Simple 401(k) Owner usually 45 or older and oldest or one of the oldest employees, only one or two older - Answer-Defined Benefit Plan Younger employees benefit from years of contributions and compounding - Answer-Money Purchase or Target Benefit Plan to provid age-weighted plan Reward long-term employees, and favor older employees - Answer-Defined Benefit Plan Bu...

CRPC Test 1 Questions and Answers Desire very low administrative cost - Answer-Simple IRA or Simple 401(k) Willing to accept investment risk - Answer-Defined Benefit Plan Easire to communicate plan to employees, and reduce administrative costs - Answer-Money Purchase or Target Benefit Plan to provid age-weighted plan Shift investment risk to employees - Answer-Profit sharing, SEP, or Tandem Plan Desire to provide tax-deferred savings for employees - Answer-Simple IRA or Simple 401(...

CRPC Damage Control: Test 1 & 2 – Questions/Answers

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No other qualified plan or 403(b) - ANSWER-Simple IRA or Simple 401(k) Younger employees benefit from years of contributions and compounding - ANSWER-Profit sharing, SEP, or Tandem Plan Business has stable cash flow and owner willing to make annual financial commitment, but either unwilling or unable to commit more than 25% compensation - ANSWER-Money Purchase or Target Benefit Plan to provid age-weighted plan Means to allow owner to meet his/her retirement - ANSWER-Defined Benefit Plan...

2024 CRPC Exam Test Bank New Latest Version with All Questions from Actual Exam and 100% Correct Answers and Rationale

CRPC Practice Test Questions and Answers All Correct Discuss the use of a bucket strategy - Answer-- used to mitigate the sequence of returns risk by creating a bucket of cash or money market instruments for immediate cash flow needs, while also maintaining a diversified portfolio of more volatile assets with high potential returns for future needs. Discus the role that a single premium immediate annuity (SPIA) can plan in a clients retirement income portfolio - Answer-- the purchase of a...

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