Hsa & Ira Quiz
8 Questions
.
Questions and Answers
- 1.For IRA accounts, what age do you have to reach in order to be eligible for catch-up contributions?
- A.
55
- B.
50
- C.
65
- 2.You can withdraw contributions from your Roth IRA penalty-free at any time.
- A.
True
- B.
False
- 3.For IRA accounts, what is the minimum balance requirement to avoid maintenance fees?
- A.
$100.00
- B.
$500.00
- C.
$1000.00
- D.
$50.00
- 4.You can begin withdrawing funds from a Traditional IRA at the age of ____.
- 5.What is the age at which mandatory withdrawals (RMD) are required for a Traditional IRA?
- A.
70 1/2
- B.
70
- C.
72
- D.
N/A
- 6.What is the maximum age for IRA contributions?
- A.
70
- B.
70 1/2
- C.
72
- D.
No age restriction on contributions.
- 7.Health Savings Accounts earn dividends on balances of $____ and over.
- 8.You qualify for a Health Savings Account if:
- A.
You are covered by a qualifying High Deductible Plan.
- B.
You are not covered by another type of health plan.
- C.
You are not enrolled in Medicare.
- D.
You are not claimed as a dependant on another individual's tax return.
- E.
All of the above.
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