CISP 시험 - ABA실제시험문제와 답 - 171문항

Question No : 1

What is the penalty for exceeding the annual contribution limit for an IRA account?

A.10% of the excess contribution amount
B.25% of the excess contribution amount
C.50% of the excess contribution amount
D.The excess amount is forfeited to the custodian

정답:

Question No : 2

Which of the following circumstances allows an individual to avoid the 10% early withdrawal penalty from an IRA before age 59 ½?

A.The individual becomes permanently disabled.
B.The individual uses the funds to pay for medical expenses that exceed a certain threshold.
C.The individual uses the funds for higher education expenses for their child.
D.The individual withdraws funds to purchase their first home.

정답:

Question No : 3

Which of the following statements is true regarding the tax deductibility of contributions to a Traditional IRA?

A.All contributions to a Traditional IRA are tax-deductible, regardless of the taxpayer's income level.
B.Taxpayers covered by an employer-sponsored retirement plan can always deduct their Traditional IRA contributions.
C.Taxpayers with high incomes may face limits or restrictions on the tax deductibility of their Traditional IRA contributions.
D.Taxpayers who contribute to a Roth IRA can also deduct their Traditional IRA contributions.

정답:

Question No : 4

Which of the following are true regarding the taxation of distributions from a SIMPLE IRA plan?

A.Distributions are always taxed as ordinary income.
B.Distributions are subject to a 20% withholding for federal taxes.
C.Distributions are taxed at a lower capital gains tax rate.
D.Distributions are not taxed if taken after age 59 ½.

정답:

Question No : 5

In a direct rollover from a 401(k) plan to a Traditional IRA, what happens to the pre-tax funds in the 401(k) account?
A. The funds are transferred directly to the IRA without any tax consequences.
B. The funds are distributed to the participant, and the participant has 60 days to deposit them into the IRA.
C. The funds are converted to Roth IRA funds.
D. The funds are withheld and sent to the IRS as income tax payments.

정답: A

Question No : 6

What are the potential consequences of engaging in a prohibited transaction within an IRA?

A.A penalty of 5% of the transaction amount.
B.A penalty of 10% of the transaction amount.
C.The IRA losing its tax-advantaged status.
D.The IRA owner being required to return the withdrawn funds.

정답:

Question No : 7

Which of the following events would NOT require an updated beneficiary designation for an IRA?

A.Birth of a child or grandchild.
B.Divorce or marriage.
C.Death of a previous beneficiary.
D.Changing the IRA custodian.

정답:

Question No : 8

Which of the following statements are true regarding the taxation of Traditional IRA distributions?

A.Traditional IRA distributions are always tax-free.
B.Distributions from a Traditional IRA are taxed as ordinary income.
C.Early distributions before age 59 ½ are subject to a 10% penalty.
D.Distributions after age 59 ½ are not subject to any taxes.

정답:

Question No : 9

Which of the following investments are generally considered prohibited within a self-directed IRA?

A.Government bonds
B.Stocks of well-established companies
C.Real estate properties
D.Precious metals

정답:

Question No : 10

Which of the following individuals is eligible to participate in a SEP IRA established by their employer?

A.An employee who is under age 21 and has worked for the employer for six months.
B.An employee who is over age 75 and has worked for the employer for two years.
C.An employee who earns less than $5,000 per year and has worked for the employer for one year.
D.An employee who is a non-
E.citizen and has a valid work visa.

정답:

Question No : 11

Which of the following factors should be considered when selecting beneficiaries for an IRA?

A.The age of the beneficiaries
B.The total value of the IRA account
C.The relationship of the beneficiaries to the IRA owner
D.The investment options available in the IRA account

정답:

Question No : 12

When designating beneficiaries for a retirement account, which of the following individuals are eligible to be named as beneficiaries?

A.Charitable organizations
B.Children (of any age)
C.Siblings
D.Spouse

정답:

Question No : 13

When an individual takes a distribution from a Traditional IRA, which of the following methods allow for federal income tax withholding?

A.They can choose not to have any taxes withheld.
B.They can have a specific dollar amount withheld.
C.They can have a percentage of the distribution withheld.
D.They can only choose withholding if they are over 70 ½.

정답:

Question No : 14

Which of the following statements are true regarding the portability of SEP and SIMPLE plans?

A.SEP plans can be rolled over into a Traditional IRA or a new employer's retirement plan.
B.SIMPLE IRA plans can be rolled over into a Traditional IRA or a new employer's retirement plan.
C.Both SEP and SIMPLE plans can be rolled over into a Roth IRA without penalties.
D.Both SEP and SIMPLE plans can be rolled over into a 401(k) plan without penalties.

정답:

Question No : 15

What is the penalty for failing to withdraw excess contributions from an IRA by the tax deadline?

A.10% of the excess contribution amount
B.25% of the excess contribution amount
C.50% of the excess contribution amount
D.The penalty is equal to the amount of the excess contribution.

정답:

ABA CISP 시험