Section IV – Knowledge Check 1. Which of the following is not a type of retirement plan:* A. 401(k) B. 529 plan C. 403(b) D. SIMPLE IRA 2. Common characteristics of qualified retirement plans include all of the following except:* A. Tax-deferred growth B. Salary/income deferral C. The ability for plan participants to access funds without penalty at any time D. Employer sponsored plans oftentimes offer matching contributions and/or profit sharing 3. It would generally be unwise for younger retirement plan participants to invest entirely in:* A. Money market funds B. Target date funds C. Growth funds D. Age-based funds 4. A government program intended to subsidize retirees, which requires both employees and employers to contribute equally is called:* A. Medicare B. Social Security C. Medicaid D. Medigap 5. Social Security benefits should never be deferred beyond the age of:* A. 62 B. 65 C. Full retirement age D. 70 6. Potential income sources during retirement include all of the following, except:* A. Pension income B. Social Security C. Income producing real estate D. Medicare 7. Over the long run, investors would expect a higher rate of return from which asset class:* A. Long-term government bonds B. Stocks C. Money market funds D. Treasury bills 8. Which of the following types of investments tends to be the most complex:* A. Stocks B. Treasury bills C. Long term government bonds D. Variable annuities 9. Which is not a distribution option for deferred annuity policyholders:* A. Lump sum B. Annuitization C. Withdrawals, regular or otherwise D. Tax-free rollover to a Roth IRA 10. Which of the following might indicate a person is not a good fit for a reverse mortgage:* A. Investments and excess cash have been nearly depleted B. The homeowner isn’t interested in passing their home to heirs C. The homeowner is 59 ½ years of age D. The homeowner believes they will remain in the home until they die