QKA 1 EXAM QUESTIONS WITH 100%
SOLVED ANSWERS!!
1 of
71
Definition
Taken from your net income after taxes. No taxes are due upon
withdrawal.
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Tax-favored dollars Pre-tax contributions
After-tax contributions Money purchase plan contributions
, Don't know?
2 of 71
Definition
If participant satisfies eligibility rules and opt when terminated they
will enter plan upon rehire
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Elapsed time (eligibility) Rehire eligibility reminder
A requirement of the ACP safe
harbor is that the plan also satisfies Can you include any type of benefit
ADP not provided by the plan in DRO
Don't know?
3 of 71
Term
Distribution made to a participant who has elected at age 50 to
retire early would be subject to 10 percent additional tax?
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, Domestic relations order
Formal decree by state of court
after divorce True
Once plan determined it's qualified
it's QDRO
Create preset number of
Retirement plans time worked ie one week is 45
hours
Don't know?
4 of 71
Definition
Calculate the amount of salary percentage of original salary n this
example person A had 44 percent of compensation (ONLY)
44% of allocated funds from em,ployer is 26500
Add that to 5.4% comp access to get total = 47k
Give this one a try later!
Calculating forfeiture amount Calculating tax withholding from
attributable to participant distribution
Calculating forfeiture from Calculating permitted
employee account disparity
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, 5 of 71
Definition
Remember Years of vesting get total of percent of what's forfeited
Give this one a try later!
Calculating forfeiture amount Determining total contributions
attributable to participant made by employer
Evaluating the eligibility criteria Assessing the overall investment
for plan participation performance of the fund
Don't know?
6 of 71
Definition
1 participant spouse is entitled to entire death benefit unless the
spouse consents to another beneficiary
2. The participant does not elect an annuity form of payment
(most | ensure this is satisfied by not offering an annuity form of
payment
3.The accounts to which the exemption applies are not attributable
1 money purchase plan assets (e.g., Where a money purchase plan
w merged into the plan).
Give this one a try later!
SOLVED ANSWERS!!
1 of
71
Definition
Taken from your net income after taxes. No taxes are due upon
withdrawal.
Give this one a try later!
Tax-favored dollars Pre-tax contributions
After-tax contributions Money purchase plan contributions
, Don't know?
2 of 71
Definition
If participant satisfies eligibility rules and opt when terminated they
will enter plan upon rehire
Give this one a try later!
Elapsed time (eligibility) Rehire eligibility reminder
A requirement of the ACP safe
harbor is that the plan also satisfies Can you include any type of benefit
ADP not provided by the plan in DRO
Don't know?
3 of 71
Term
Distribution made to a participant who has elected at age 50 to
retire early would be subject to 10 percent additional tax?
Give this one a try later!
, Domestic relations order
Formal decree by state of court
after divorce True
Once plan determined it's qualified
it's QDRO
Create preset number of
Retirement plans time worked ie one week is 45
hours
Don't know?
4 of 71
Definition
Calculate the amount of salary percentage of original salary n this
example person A had 44 percent of compensation (ONLY)
44% of allocated funds from em,ployer is 26500
Add that to 5.4% comp access to get total = 47k
Give this one a try later!
Calculating forfeiture amount Calculating tax withholding from
attributable to participant distribution
Calculating forfeiture from Calculating permitted
employee account disparity
Don't know?
, 5 of 71
Definition
Remember Years of vesting get total of percent of what's forfeited
Give this one a try later!
Calculating forfeiture amount Determining total contributions
attributable to participant made by employer
Evaluating the eligibility criteria Assessing the overall investment
for plan participation performance of the fund
Don't know?
6 of 71
Definition
1 participant spouse is entitled to entire death benefit unless the
spouse consents to another beneficiary
2. The participant does not elect an annuity form of payment
(most | ensure this is satisfied by not offering an annuity form of
payment
3.The accounts to which the exemption applies are not attributable
1 money purchase plan assets (e.g., Where a money purchase plan
w merged into the plan).
Give this one a try later!
