Retirement
Post-tax dollar contributions are found in what type of plan?
What is a Roth
Basket of index of stocks/bonds traded intraday
What is an ETF
Charitable contributions must be made to what types of organizations to receive deductions
What is Qualified Organizations
Types of annuities RIAs can offer to clients?
What are fixed annuities
A legal process of settling the estate of a deceased person, ensuring the proper transfer of assets, payment of debts, and distribution of property to beneficiaries, and validating a will.
What is Probate
What age can take distribution from retirement plans without penalty?
What is 59 and 1/2
The 4 common types of bonds that are currently issued.
What are:
Corporate Bonds
Municipal Bonds
Treasury Bills
Treasury Notes
A transaction where a taxpayer sells a property used in their business or for investment and reinvests the proceeds into another similar property.
What is a 1031 Exchange
A federal and state assistance program that pays for health care services for people who cannot afford them.
What is Medicaid
In the following situations you have to file what type of tax form:
1. If a gift exceeds the annual gift exclusion amount
2. Gift of a future interest has been given
3. Gift Splitting between spouses
What is Gift Tax Return
How many 60 day rollovers can you do in a year?
Name one thing that can affect a stock price
Market Performance
Company's Financial Health
Economy
What part of an annuity's income is included in one's gross income?
What is earnings portion of the payment
Term for Life insurance that can go with the employee after they leave employment?
What is Portable
A legal agreement where the grantor (the person who creates the trust) transfers assets to a trustee, who manages the assets for the benefit of the beneficiaries. Once established, the grantor cannot change or revoke the trust.
What is a Irrevocable Trust
Which product would best serve a retired individual looking to invest a lump-sum of money through an insurance company?
What is an Annuity
No deduction for any loss resulting from a sale and a repurchase of the same or substantially similar security within 30 days before OR after the sale.
What is a Wash Sale?
Name 3 personal tax credits?
Foreign tax credit
Child independent CareCredit
Adoption credit
Child tax credit
American opportunity tax credit
Lifetime learning credit
Name for firms who shop around insurance carriers to find best policy for clients?
What is Insurance Brokerage/Broker
Person who dies with no valid will is said to die in....
What is intestate
Which type of retirement plan is intended to be used by a sole proprietor and the employees of that business?
What is a Keogh
An Investor who meets one of the following criteria:
$1M networth (excluding primary residence)
$200k income for single
$300k income for joint
What is an accredited investor?
A business entity in which the profits are taxed on the owner(s) individual tax rate.
What is a pass through entity.
A statistical principle that states the larger the group of similar exposure units, the more predictable the overall losses will be. Insurance companies rely on this law to accurately estimate expected claims and set premiums.
What is the Law of Large Numbers
This type of trust becomes effective only upon the death of the grantor.
What is a testamentary trust?