A type of qualified plan wherein participants know how much will be contributed to their plan account each year.
Defined Contribution Plans
100
THE guide for the plan's daily operation and outlines the plan as a WHOLE. It states the agreement between the employer and the employee.
Plan Document
100
You received an EN form for an inforce contract on Mar/01/2012. What is the EN effective date?
Feb/01/2012
100
The Enrollment Kit (Guide) is provided to employees during an enrollment meeting.
True or False
False
100
How many NEs are there in CN 100908 since Feb/01/2012?
1
200
Type of a Defined Contribution Plan wherein employees choose to receive a portion of their salary as currently taxable cash or as a pre-tax contribution to a 401k account.
Traditional 401k plan
200
May have discretionary authority over a plan’s assets or management
Plan Fiduciary
200
EN form received with missing SSN. What should you do? Select all that applies:
a. Cross-ref using name and Defaul EN
b. Cross-ref and follow II on form
c. Create a SIL for the CAR to follow up.
d. Escalate to Team Leader
C
200
Mars's favorite color
red
200
How much is Janna Karvonen's Current Account Balance? (CN 108408)
$0
300
Which of the following is/are employee tax advantages?
a. Most contributions are tax deferred (pre-tax) until funds are removed from the plan.
b. Most contributions are on after-tax basis and are taxed once funds are removed from the plan.
c. Most contributions are tax deferred (pre-tax) and are tax-free once funds are removed from the plan.
d. Immediate tax deduction for their after-tax contribution for the year.
e. All of the above
A
300
What kind of services does JH provide?
Investment + Recordkeeping Services
300
DOB is missing on the form. Do we proceed? How/what to use?
Yes, Default DOB (Jan01/1980)
300
A type of investment wherein investors pool their money together to purchase a mixture of stocks/ bonds/ cash
Mutual Fund
300
What is Karen E Davis' State of Residence (CN 14657)?
SC
400
What makes a plan qualified? (Choose all that applies)
A. Uniform
B. Non-disriminatory
C. Benefit high-compensated employees
D. Satisfy IRS and DOL requirements
E. Tax advantage for both employee and employer
A, B, D, E
400
Local firms that specialize in daily plan administration and ongoing legal compliace.
Third Party Administrator (TPA)
400
(EN form to be displaed)
Should we enter the Pin Serial Number?
Yes/ No
No
400
Who is the first point of contact for CN 100462?
Sue Bowden
400
According to his address, what city/state does participant Elio Bove of CN 98084 live in? Hint. EE, f5
Brewster, NY
500
4 Fundamental Requirements of a QRP
Written
Communicated
Intended to be permanent
Sole benefit to participants
500
Which duty/ies does JH perform?
a. Provides financial advice.
b. Overseees the collection and safeguarding of the plan's assets
c. Process allocations and withdrawals and keying enrollment information.
d. Reviews plan document.
e. All of the above
C
500
Eligible participants who call 1-855-JHENROLL are connected to who?
___________ Specialist in _______ office
Enrollment Specialist in Boston
500
The net value of all of the assets in a mutual fund’s investment portfolio currently amounts to $200,000. The mutual fund has a total of 200 shares. What is the mutual fund’s current NAV per share?
$2,000
500
Why was SIL 1625426839 created by JAMORJU?
AWD.RECVD EN FORM WITH DIFFERENT II.PPT MAY WANT TO CHANGE HIS II. PLS ADVISE CLIENT TO HAVE PPT FILL UP INVESTMENT CHANGE FORM.THANKS.