CRPC Test Questions with Complete Solutions
Desire to provide tax-deferred savings for employees - Answer-Simple IRA or Simple 401(k)
Owner usually 45 or older and oldest or one of the oldest employees, only one or two older - Answer-Defined Benefit Plan
Younger employees benefit from years...
CRPC Test Questions with Complete
Solutions
Desire to provide tax-deferred savings for employees - Answer-Simple IRA or Simple
401(k)
Owner usually 45 or older and oldest or one of the oldest employees, only one or two
older - Answer-Defined Benefit Plan
Younger employees benefit from years of contributions and compounding - Answer-
Money Purchase or Target Benefit Plan to provid age-weighted plan
Reward long-term employees, and favor older employees - Answer-Defined Benefit
Plan
Business Cash flow fluctuates - Answer-Profit sharing, SEP, or Tandem Plan
No other qualified plan or 403(b) - Answer-Simple IRA or Simple 401(k)
Willing and able to make annual financial commitment in excess of 25% of
compensation - Answer-Defined Benefit Plan
No other qualified plan or 403(b) - Answer-Simple IRA or Simple 401(k)
Younger employees benefit from years of contributions and compounding - Answer-
Profit sharing, SEP, or Tandem Plan
No more than 100 employees earing $5000 or more - Answer-Simple IRA or Simple
401(k)
Desire plan that will motivate employees - Answer-Profit sharing, SEP, or Tandem Plan
Seeks maximum tax shelter - Answer-Defined Benefit Plan
Business cash flow fluctuates - Answer-Profit sharing, SEP, or Tandem Plan
Owner willing to make minimal contribution-2% or 3% of compensation - Answer-Simple
IRA or Simple 401(k)
Means to allow owner to meet his/her retirement - Answer-Defined Benefit Plan
Desire very low administrative cost - Answer-Simple IRA or Simple 401(k)
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Scholarsstudyguide. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R225,24. You're not tied to anything after your purchase.
