Exam (elaborations)
RPA 1 - FINAL EXAM LATEST 2024 REAL EXAM 100 QUESTIONS AND DETAILED ANSWERS (COMPLETE EXAM)
- Course
- Institution
RPA 1 - FINAL EXAM LATEST 2024 REAL EXAM 100 QUESTIONS AND DETAILED ANSWERS (COMPLETE EXAM)
[Show more]
Content preview
RPA 1 Final Exam Multiple ChoiceStudy online at https://quizlet.com/_de93jg
A stock plan where the corporation
grants stock to the employee, but the
Restricted stock plan
ownership of the stock is subject to sub-
stantial risk of forfeiture is a:
An employee can elect to pay tax at the
IRC Section 83(b) provides that: time of the grant even though it is subject
to substantial risk of forfeiture exists.
A formula that bases benefits on the
earnings of the employee during the last
Final-pay plan
three years of employment with the plan
sponsor is a(n):
Which of the following communication
pieces is required to be provided to par- Summary Annual Report
ticipants each year?
A SIMPLE Plan has which of the follow- Provided all requirements are met, ACP
ing characteristics? and ADP test are not required.
That if a taxpayer could receive income
at any time but elects to receive it later,
The doctrine of constructive receipt
the taxpayer is still taxed currently be-
states:
cause of having the non-forfeitable right
to the income.
A tax qualified retirement plan for
A Keogh Plan is: self-employed individuals and their em-
ployees.
A retirement plan that provides benefits
that cannot be provided through quali-
fied plans solely because of IRC Section Excess benefit plan
415 limits on benefits and contributions
is a(n):
Make a contribution to the IRA, but it
A single individual participating in a
will not be tax-deductible if the individual
401(k) may:
earned over $62,000.
Which of the following is true of a defined
The employer bears the investment risk.
benefit plan?
1/8
, RPA 1 Final Exam Multiple Choice
Study online at https://quizlet.com/_de93jg
Which of the following defined contribu-
tion plans has a minimum funding re- A Money Purchase Pension Plan
quirement?
The contribution limit for a regular IRA in
$5,500
2017 is:
A profit-sharing plan that is integrated 5.7% contribution on compensation be-
with Social Security could have which of low SS wage base plus 11.4% on com-
the following formulas? pensation above SS wage base
It is a method of tapping into the equity
A reverse annuity has which of the fol-
value of the home for retirement income
lowing features?
while still living in the house.
A money purchase pension plan differs
from a profit-sharing plan in which of the It has a fixed contribution rate
following ways?
That the company has a legal obliga-
The significance of the 1948 National
tion to bargain with union representatives
Labor Relations Board ruling is:
over the terms of pension plans.
A plan that qualifies based on the per-
centage of Non-Highly Compensated
Employees who benefit under the plan
Ratio percentage test
being at least 70 percent of the High-
ly Compensated Employees who benefit
under the plan is using the:
A significant characteristic of cash or de-
Employee contributions are fully vested.
ferred arrangement plans is:
If the only assets in the plan are salary
A 403(b) plan is not subject to ERISA:
deferrals of the employees.
A qualified profit-sharing plan is required
A definite allocation formula
to have:
Which of the following situations will sat-
The average ADP is 4.5% for highly com-
isfy the actual deferral percentage (ADP)
pensated employees and 2.7% for the
test for cash or deferred arrangements
non-highly compensated employees.
(CODAs)?
A plan that is sponsored by a non-prof-
it organization, which is not subject to
2/8
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Eurominds. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $0.00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83750 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now