Pcc 1099-r Exam

10 Questions | Total Attempts: 74

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Pcc 1099-r Exam

This exam will test your knowledge over the recent 1099-R training.This exam is open book. Please feel free to use your notes and all other available resources to complete the exam. However, CSRs should not discuss questions or answers with one another. 


Questions and Answers
  • 1. 
    1099-Rs will be issued for all of the following EXCEPT?
    • A. 

      Lump Sum Distribution

    • B. 

      Deemed Loan

    • C. 

      Rollover Distribution

    • D. 

      Loan

  • 2. 
    What is the EIN number for the state of Maine?
    • A. 

      571198022

    • B. 

      57119802200

    • C. 

      11819341

    • D. 

      18976808

  • 3. 
    If a participant terminated their account as a rollover distribution, Box 7 will be coded with a ____.
    • A. 

      1

    • B. 

      F

    • C. 

      2

    • D. 

      G

  • 4. 
    Box ___ of the 1099-R form contains the federal tax amount that ADP has already withheld from the distribution.
    • A. 

      2b

    • B. 

      3

    • C. 

      4

    • D. 

      6

  • 5. 
    1099-Rs are federal IRS tax forms used to report distributions over $5 or more.
    • A. 

      True

    • B. 

      False

  • 6. 
    If a CSR cannot determine why a 1099-R was coded a certain way, they can dispatch a case to the _________ queue.
    • A. 

      PCC 1099-R

    • B. 

      PCC Taxes

    • C. 

      Appropriate market

    • D. 

      PCC Large Market

  • 7. 
    A participant terminated their retirement account and it processed on December 25, 2015. The 1099-R will be generated by January 31, 2016. 
    • A. 

      True

    • B. 

      False

  • 8. 
    ADP's Federal EIN number is 57-1198022.
    • A. 

      True

    • B. 

      False

  • 9. 
    1099-R adjustments are processed within 10 business days.
    • A. 

      True

    • B. 

      False

  • 10. 
    If a participant requests a rollover distribution (of Pretax and Roth money) to their traditional IRA but accidentally elected it was going to their Roth IRA, it will be coded as a taxable distribution on their 1099-R.
    • A. 

      True

    • B. 

      False