IRA Questions and Answers PDF

**Which of the following IRA types requires an owner to take Required Minimum Distributions (RMD)?** Roth IRA Traditional IRA (Correct) SEP IRA All The Above **Which type of contribution does the member not have access to the funds? ** Rollover Transfer (correct) Early Withdrawal None of th...

**Which of the following IRA types requires an owner to take Required Minimum Distributions (RMD)?** Roth IRA Traditional IRA (Correct) SEP IRA All The Above **Which type of contribution does the member not have access to the funds? ** Rollover Transfer (correct) Early Withdrawal None of the Above **Which contributions have a 60-day rule? (Select the two that apply) ** Rollover (correct) Transfer Recharacterization Conversion (correct) **What are the four common types of distributions?** Normal, Late, Rollover, Standard Normal, Transfer, Rollover, Early (correct) Normal, Not Direct, Standard, Rollover Normal, Rollover, Early, Late **Which type of withdrawal can only be done once every 12 months?** Normal   Early    Transfer Rollover (correct) **When discussing IRA\'s you can do the following:** Give tax advice Give tax information (correct) Explain the different SEP IRA offerings at the credit union None of the Above **The interface communication between Symitar and Ascensus pushes information: ** From Ascensus back to the core (Symitar) Only. Back and Forth from both Ascensus to Symitar as needed. From Core (Symitar) back to the Ascensus Only. (correct) ALL information will need to be manually updated in Symitar and Ascensus