CRPC Module 4 exam 2023/ 2024 with 100% correct answers

Whole life policies are designed to provide what - correct answer Level premiums, a guaranteed death benefit no matter when the insured dies and guaranteed cash flow Facts about a Roth IRA - correct answer With drawls from a Roth IRA for a first time home purchase, up to $10,000, or not penalized if the five-year holding period has been met. Total IRA contributions, both Ross and traditional, or aggregated and cannot exceed $6000. Distributions of principal from a Roth IRA are not subject to the 10% penalty. Finally a Roth Aire is not subject to RMD rules, although Roth 401(k) are Flexibility is the key word that describes what type of life insurance - correct answer Universal life. What is the keyword for term life insurance - correct answer Low-cost, relative to other options What is the keyword for whole life insurance - correct answer Guaranteed What is the keyword for variable life insurance - correct answer Variable When not enough money has been saved to properly provide for retirement income, retirees may - correct answer Need to consider working during retirement, reducing their standard of living, or selling their home and moving in with their children Earned income as defined by the internal revenue code includes - correct answer Alimony, salary, bonuses, fees, commissions An individual is not considered an active participant in an employer sponsored defined contribution plan if they only receive what - correct answer Interest How long is a Roth IRA owner required to hold the account before taking a tax free distribution - correct answer A minimum of five years starting on January 1 of The year the first contribution is made and the owner m