Series 7 practice questionmediumRetirement Plans 379
Which retirement plan is designed primarily for self-employed individuals and small business owners?
- ASEP IRA✓ Correct answer
- B529 plan
- CCoverdell ESA
- DTreasuryDirect account
Explanation
Why A — SEP IRA
A SEP IRA is commonly used by self-employed individuals and small employers because it is relatively easy to establish and administer. Employer contributions are made to IRAs set up for eligible employees.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 755+ Series 7 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Related Investment Information & Recommendations questions
- Taking a distribution from a retirement account before age 59½ usually results in:
- A 401(k) plan is best described as:
- A 40-year-old customer contributes to a traditional IRA and meets the eligibility rules. The primary tax feature is…
- A 36-year-old investor wants tax-free qualified withdrawals in retirement. Which plan best fits?