CRPC Test | Questions And Answers Latest {2024- 2025} A+ Graded | 100% Verified
No other qualified plan or 403(b) - Simple IRA or Simple 401(k)
Younger employees benefit from years of contributions and compounding - 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 - Money Purchase or Target Benefit Plan to
provid age-weighted plan
Means to allow owner to meet his/her retirement - Defined Benefit Plan
No more than 100 employees earing $5000 or more - Simple IRA or Simple 401(k)
Desire plan that will motivate employees - Profit sharing, SEP, or Tandem Plan
Seeks maximum tax shelter - Defined Benefit Plan
Business cash flow fluctuates - Profit sharing, SEP, or Tandem Plan
Owner willing to make minimal contribution-2% or 3% of compensation - Simple IRA or Simple 401(k)
Means to allow owner to meet his/her retirement - Defined Benefit Plan
Desire very low administrative cost - Simple IRA or Simple 401(k)
Willing to accept investment risk - Defined Benefit Plan
No other qualified plan or 403(b) - Simple IRA or Simple 401(k)
Younger employees benefit from years of contributions and compounding - 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 - Money Purchase or Target Benefit Plan to
provid age-weighted plan
Means to allow owner to meet his/her retirement - Defined Benefit Plan
No more than 100 employees earing $5000 or more - Simple IRA or Simple 401(k)
Desire plan that will motivate employees - Profit sharing, SEP, or Tandem Plan
Seeks maximum tax shelter - Defined Benefit Plan
Business cash flow fluctuates - Profit sharing, SEP, or Tandem Plan
Owner willing to make minimal contribution-2% or 3% of compensation - Simple IRA or Simple 401(k)
Means to allow owner to meet his/her retirement - Defined Benefit Plan
Desire very low administrative cost - Simple IRA or Simple 401(k)
Willing to accept investment risk - Defined Benefit Plan
