Half Yearly 2020 Assessment

10 Questions | Total Attempts: 14

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Half Yearly 2020 Assessment

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Questions and Answers
  • 1. 
    Contributions can be made into Traditional IRAs for account holders over 70 ½ years old.  Age is not a condition of eligibility. 
    • A. 

      True

    • B. 

      False

  • 2. 
    What is the Required Minimum Distribution age as per Secure Act is 70
    • A. 

      True

    • B. 

      False

  • 3. 
    In addition the tax filing and tax payment deadline extensions, the due date for any 2019 IRA contributions has been extended to
  • 4. 
    What are the contribution limit for age below 50
    • A. 

      $4000

    • B. 

      $5000

    • C. 

      $7000

    • D. 

      $6000

  • 5. 
    Required Minimum Distribution applicable to ROTH IRA
    • A. 

      True

    • B. 

      False

  • 6. 
    UBO stands for Ultimate Beneficial Owner
    • A. 

      True

    • B. 

      False

  • 7. 
    What is CIP mean
  • 8. 
    UGMA/UTMA registration eligible for TOD
    • A. 

      True

    • B. 

      False

  • 9. 
    We add secondary accounting method when specific lot identification cost basis method is selected
    • A. 

      True

    • B. 

      False

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