Chapter - 10 - QJSA/QPSA

Pregunta 1 de 15

1

A money purchase pension plan must provide the participant with a notice that explains the circumstances under which a QPSA will be paid.

Selecciona uno de los siguientes:

VERDADERO
FALSO

Explicación

Pregunta 2 de 15

1

Distribution notice and consent requirements depend on whether the QJSA rule applies to the participant and the value of the vested account balance.

Selecciona uno de los siguientes:

VERDADERO
FALSO

Explicación

Pregunta 3 de 15

1

A plan that has a NRA earlier then age 62 must provide a notice regarding the right to delay distribution until the participant reaches age 62.

Selecciona uno de los siguientes:

VERDADERO
FALSO

Explicación

Pregunta 4 de 15

1

The only notice requirement for an involuntary distribution is the rollover notice.

Selecciona uno de los siguientes:

VERDADERO
FALSO

Explicación

Pregunta 5 de 15

1

Distribution notice requirements refer to information that must be provided to the participant before distributions may be made.

Selecciona uno de los siguientes:

VERDADERO
FALSO

Explicación

Pregunta 6 de 15

1

The $5,000 threshold for the notice and consent requirements is based on the participant’s vested account balance as of the date of distribution.

Selecciona uno de los siguientes:

VERDADERO
FALSO

Explicación

Pregunta 7 de 15

1

The rollover notice need not be provided to a participant receiving an eligible rollover distribution of $500 or less.

Selecciona uno de los siguientes:

VERDADERO
FALSO

Explicación

Pregunta 8 de 15

1

The beneficiary of a life insurance policy will be taxed on the total distribution from the policy.

Selecciona uno de los siguientes:

VERDADERO
FALSO

Explicación

Pregunta 9 de 15

1

A self-employed individual’s contributions for the purchase of life insurance are not deductible by the self-employed individual.

Selecciona uno de los siguientes:

VERDADERO
FALSO

Explicación

Pregunta 10 de 15

1

Nonpension plans may use the 100-times rule for determining incidental benefit limits regarding life insurance.

Selecciona uno de los siguientes:

VERDADERO
FALSO

Explicación

Pregunta 11 de 15

1

All of the following information must be provided to a participant prior to receiving a distribution due to termination of employment, EXCEPT:

Selecciona una de las siguientes respuestas posibles:

A. Loan procedures
B. Taxation issues
C. Information about how a distribution will be taxed
D. The optional forms of payment available
E. The right to delay payment until NRA

Explicación

Pregunta 12 de 15

1

Which notice must be provided to the participant?
 The plan is a target benefit plan.
 The participant is age 35 and terminates employment.
 The participant has a vested account balance of $750.
 The plan will make involuntary cash out of benefits.

Selecciona una de las siguientes respuestas posibles:

A. Waiver of the QJSA notice
B. Optional forms of benefit notice
C. Right to delay distribution to NRA notice
D. Rollover notice
E. Spouse’s consent rights regarding a waiver of the QJSA

Explicación

Pregunta 13 de 15

1

All of the following statements regarding notice requirements are TRUE, EXCEPT:

Selecciona una de las siguientes respuestas posibles:

A. A summary rollover notice may be provided to the participant if the complete rollover notice has previously been provided.
B. A QJSA notice must explain the financial effect of electing an optional form of benefit.
C. A QPSA notice must contain a general description of the QPSA.
D. The special tax notice must contain information regarding any special income tax elections available.
E. A rollover notice must be provided for an eligible rollover distribution of $150.

Explicación

Pregunta 14 de 15

1

Which of the following statements regarding life insurance in defined contribution plans is/are TRUE?
I. The participant is required to pay taxes on the term cost of the insurance each year.
II. Net insurance proceeds paid to the beneficiary are not taxable.
III. Incidental life insurance can remain in the plan post-retirement until the participant elects a distribution.

Selecciona una de las siguientes respuestas posibles:

A. I only
B. II only
C. I and II only
D. II and III only
E. I, II and III

Explicación

Pregunta 15 de 15

1

Which of the following statements regarding the incidental life insurance benefit limit is/are TRUE?
I. The limit for a term life insurance policy is 25% of the aggregate contributions.
II. The limit for a whole life insurance policy is less than 50% of the aggregate contributions.
III. The limit for universal life insurance policy is less than 50% of the aggregate contributions.

Selecciona una de las siguientes respuestas posibles:

A. I only
B. II only
C. I and II only
D. II and III only
E. I, II and III

	Creado por Justin Guy (just hace más de 8 años

Test sobre Chapter - 10 - QJSA/QPSA, creado por Justin Guy (just el 23/10/2015.

Chapter - 10 - QJSA/QPSA

Pregunta 1 de 15

A money purchase pension plan must provide the participant with a notice that explains the circumstances under which a QPSA will be paid.

Selecciona uno de los siguientes:

Explicación

Pregunta 2 de 15

Distribution notice and consent requirements depend on whether the QJSA rule applies to the participant and the value of the vested account balance.

Selecciona uno de los siguientes:

Explicación

Pregunta 3 de 15

A plan that has a NRA earlier then age 62 must provide a notice regarding the right to delay distribution until the participant reaches age 62.

Selecciona uno de los siguientes:

Explicación

Pregunta 4 de 15

The only notice requirement for an involuntary distribution is the rollover notice.

Selecciona uno de los siguientes:

Explicación

Pregunta 5 de 15

Distribution notice requirements refer to information that must be provided to the participant before distributions may be made.

Selecciona uno de los siguientes:

Explicación

Pregunta 6 de 15

The $5,000 threshold for the notice and consent requirements is based on the participant’s vested account balance as of the date of distribution.

Selecciona uno de los siguientes:

Explicación

Pregunta 7 de 15

The rollover notice need not be provided to a participant receiving an eligible rollover distribution of $500 or less.

Selecciona uno de los siguientes:

Explicación

Pregunta 8 de 15

The beneficiary of a life insurance policy will be taxed on the total distribution from the policy.

Selecciona uno de los siguientes:

Explicación

Pregunta 9 de 15

A self-employed individual’s contributions for the purchase of life insurance are not deductible by the self-employed individual.

Selecciona uno de los siguientes:

Explicación

Pregunta 10 de 15

Nonpension plans may use the 100-times rule for determining incidental benefit limits regarding life insurance.

Selecciona uno de los siguientes:

Explicación

Pregunta 11 de 15

All of the following information must be provided to a participant prior to receiving a distribution due to termination of employment, EXCEPT:

Selecciona una de las siguientes respuestas posibles:

Explicación

Pregunta 12 de 15

Which notice must be provided to the participant?  The plan is a target benefit plan.  The participant is age 35 and terminates employment.  The participant has a vested account balance of $750.  The plan will make involuntary cash out of benefits.

Selecciona una de las siguientes respuestas posibles:

Explicación

Pregunta 13 de 15

All of the following statements regarding notice requirements are TRUE, EXCEPT:

Selecciona una de las siguientes respuestas posibles:

Explicación

Pregunta 14 de 15

Selecciona una de las siguientes respuestas posibles:

Explicación

Pregunta 15 de 15

Selecciona una de las siguientes respuestas posibles:

Explicación

Which notice must be provided to the participant?
 The plan is a target benefit plan.
 The participant is age 35 and terminates employment.
 The participant has a vested account balance of $750.
 The plan will make involuntary cash out of benefits.