TSP Booklet UPDATED ACTUAL Exam Questions and CORRECT Answers

TSP Booklet UPDATED ACTUAL Exam
Questions and CORRECT Answers
The Federal Employees Retirement System (FERS) has a vested time restriction of 3 years for
most and ____ years for congressional and non career positions.
A. 1
B. 2
C. 3

D. 4 - CORRECT ANSWER -2


T/F The Thrift Savings Plan (TSP) provides tax advantages such as, before tax contributions and
tax deferred investment earnings. - CORRECT ANSWER - True


What is the acronym CSRS stand for?
A. Civilian Service Retirement System
B. Cultural Service Retirement Socialist
C. Civil Service Retirement System

D. None of the above - CORRECT ANSWER - Civil Service Retirement System


Which of the following is a source of TSP Contribution?
A. Employee Contributions
B. Matching Contributions
C. Agency Automatic 1% Contributions

D. All of the above - CORRECT ANSWER - All of the above


How many sources of TSP contributions are there?
A. 1
B. 2
C. 3

, D. 4 - CORRECT ANSWER -3


T/F Regular employee and Catch-up are the two different types of employee contributions. -
CORRECT ANSWER - True


Over what age will you be allowed additional payroll deductions to catch up TSP?
A. 50
B. 60
C. 50 1/2

D. 60 1/2 - CORRECT ANSWER - 50


TSP withdrawn before the age of 55 will incur an early withdrawal penalty of ____ tax.
A. 5%
B. 8%
C. 10%

D. 15% - CORRECT ANSWER - 10%



T/F TSP Catch-up contributions can be matched. - CORRECT ANSWER - False


TSP Deduction Limits are set at ____ fore regular and ____ for catch up.
A. $5000; $15000
B. $10000; $25000
C. $15000; $5000

D. $25000; $15000 - CORRECT ANSWER - $15000; $5000


T/F There are 5 different types of Individual TSP funds (G, F, C, S, and I). - CORRECT
ANSWER - True