Articles

Question 1

The statement “The grantor (depositor) agrees to provide the trustee (custodian) with all information necessary to prepare any reports” is found in which Article of the Traditional IRA model documents?

a. Article IV
b. Article V
c. Article VI
d. Article VII

Answer 1

b. Article V

Question 2

The statement “The grantor (depositor) agrees to provide the trustee (custodian) with all information necessary to prepare any reports” is found in which Article of the Roth IRA model documents?

a. Article IV
b. Article V
c. Article VI
d. Article VII

Answer 2

b. Article V

Question 3

The statement “…may be used for any additional provisions” is found in which Article of the Traditional IRA model documents?

a. Article VI
b. Article VII
c. Article VIII
d. Article IX

Answer 3

c. Article VIII

Question 4

The statement “…may be used for any additional provisions” is found in which Article of the Traditional IRA model documents?

a. Article VI
b. Article VII
c. Article VIII
d. Article IX

Answer 4

d. Article IX

Question 5

The statement “the provisions of Articles I through III and this sentence will be controlling is found in which Article of the Traditional IRA model documents?

a. Article V
b. Article VI
c. Article VII
d. Article VIII

Answer 5

b. Article VI

Question 6

The statement “the provisions of Articles I through III and this sentence will be controlling is found in which Article of the Roth IRA model documents?

a. Article V
b. Article VI
c. Article VII
d. Article VIII

Answer 6

c. Article VII

Question 7

The statement “no part of the trust (custodial) account funds may be invested in collectibles (within the meaning of section 408(m)) is found in which Article of the Traditional IRA model documents?

a. Article I
b. Article II
c. Article III
d. Article IV

Answer 7

c. Article III

Question 8

The statement “no part of the trust (custodial) account funds may be invested in collectibles (within the meaning of section 408(m)) is found in which Article of the Roth IRA model documents?

a. Article I
b. Article II
c. Article III
d. Article IV

Answer 8

c. Article III

Question 9

The statement “the grantor’s (depositor’s) interest in the balance in the trust account is nonforfeitable” is found in which Article of the Traditional IRA model documents?

a. Article I
b. Article II
c. Article III
d. Article IV

Answer 9

b. Article II

Question 10

The statement “the grantor’s (depositor’s) interest in the balance in the trust account is nonforfeitable” is found in which Article of the Roth IRA model documents?

a. Article I
b. Article II
c. Article III
d. Article IV

Answer 10

b. Article II

Question 11

The statement “this agreement will be amended as necessary to comply with the provisions of the Code” is found in which Article of the Traditional IRA model documents?

a. Article V
b. Article VI
c. Article VII
d. Article VIII

Answer 11

c. Article VII

Question 12

The statement “this agreement will be amended as necessary to comply with the provisions of the Code” is found in which Article of the Roth IRA model documents?

a. Article V
b. Article VI
c. Article VII
d. Article VIII

Answer 12

c. Article VII

Question 13

The statement “the grantor’s (depositor’s) entire interest in the trust (custodial account must be, or begin to be, distributed no later than the grantor’s (depositor’s) RBD, April 1 following the calendar year in which the grantor (depositor) reaches age 73” is found in which Article of the Traditional IRA model documents?

a. Article III
b. Article IV
c. Article V
d. Article VI

Answer 13

b. Article IV

Question 14

The statement “…the annual contribution is phased out between AGI of…” is found in which Article of the Roth IRA model documents?

a. Article I
b. Article II
c. Article III
d. Article IV

Answer 14

a. Article I

Question 15

The statement “if the grantor’s (depositor’s) surviving spouse is the designated beneficiary, the spouse will be treated as the grantor (depositor) is found in which Article of the Roth IRA model documents?

a. Article V
b. Article VI
c. Article VII
d. Article VIII

Answer 15

a. Article V