CRPC - Module #7 Exam Questions and Answers Graded A+

CRPC - Module #7 Exam Questions and Answers Graded A+ In-service withdrawals prior to age 62 are not permitted from which of the following? cash balance plans (In-service withdrawals at any age may be permitted from profit sharing plans (including ESOPs and stock bonus plans), assuming certain other requirements are met. In-service withdrawals prior to age 62 are not permitted from any pension plan, including cash balance plans.) The IRS permits hardship withdrawals from 401(k) plans in cases of "immediate and heavy f inancial need." Which of the following is not considered immediate and heavy? payments to prevent defaulting on a mortgage for a second home (Although payments to prevent eviction from a primary residence are considered immediate and heavy, payments for a second home are not. The other options are considered immediate and heavy expenses.) Before rolling assets from an employer sponsored plan to an IRA one should consider which of the following? All of the above. (the difference in creditor protection between the two savings vehicles the difference in when the 10% penalty will apply to distributions the difference in RMD rules that apply to the two savings vehicles)