Which of the below statements is FALSE?
A) 401(k) plans are plans provided by an employer whereby an employee may elect to contribute pretax dollars to a qualified tax-deferred retirement plan.
B) While a 401(k) is an employer-sponsored retirement program, the most common types of IRAs are personal tax-deferred retirement plans set up at the initiative of the employee/investor.
C) Traditional and Roth IRAs are vehicles for individuals to set up their own retirement plans outside their employment.
D) Rollover IRAs may be used when an individual is staying with an employer and wants to continue this retirement plan.
Correct Answer:
Verified
Q27: Three decades ago, there were three distinct
Q28: Traditionally, insurance companies have been stock, but
Q29: Liability insurance insures against the inability of
Q30: There have been three major types of
Q31: The first major investment-oriented product developed by
Q33: In terms of ownership, there are two
Q34: The performance of separate account products depends
Q35: The performance of the insurance product depends
Q36: The credit rating of an insurance company
Q37: Insurance companies often have different distribution systems
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents