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Question 10 People often take money they have accumulated during their working years and buy an...

Question 10

People often take money they have accumulated during their working years and buy an annuity. All of the following are variations that are possible with an annuity EXCEPT:

Withdrawals can be immediate or deferred
Taxes are typically paid each year on the account balance
Contributions can be one large payment or installments over time
The amount of money received each year can be fixed or variable
Annuities can be purchased that may a death benefit if the annuitant dies

Question 11

In the world of retirement money, the technical phrase for a shift of money from an employer-sponsored retirement plan to a personal retirement plan is:

Carry forward
Withdrawal
Rollover
Amortization
Down payment

Question 12

Which of the following statements about reverse mortgages is NOT correct:

They can provide regular payments until a homeowner dies
Potential users are required to take a counselling course
Home owners are responsible for property taxes and home insurance
They are federally insured
Anyone is eligible for one if they have enough equity in their home

Solutions

Expert Solution

Answer 10. The amount of money each year received shall be fixed or variable.

Answer 11. Rollover it occurs when we listing funds from much your security into a new issue of a same or similar security transferring the Holdings of one retirement plan to another without suffering tax consequences or moving a Forex position to the following delivery date the distribution from the retirement plan is reported on IRS form 1099 and maybe limited to 1 per annum for each IR a the forex rollover FAI arising from the difference is interest rate between two currencies underlying a transaction to be paid to broker. Rollover often occurs as a way of making money for a specific purpose such as intermediate income from day trading or for saving on taxes as with retirement plans.

Answer 12. Anyone is eligible for 1 if they have enough equity in their home .reverse mortgage is a type of mortgage in which a homeowner can borrow money against the value of his or her own receiving funds in the form of monthly fixed payment or a line of credit repayment of the mortgage is required until the borrower dies main permanently yourself the home the transactions structures so that the loan amount will not exceed the value of home over the life of the loan

jeff jeffy answered 2 years ago
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