Which of the Following Statements Regarding Qualified Charitable Distributions Is

question 6

Multiple Choice

Which of the following statements regarding qualified charitable distributions is false?

• A)It satisfies the required minimum distributions for the year in which a QCD is made.
• B)Correct,this statement is false.IRA account owners must be age 67 or older.
• C)Transfers from an inherited IRA are not allowed.
• D)Maximum transfer amount is $100,000.

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Definitions:

Excess Reserves

The capital reserves held by a bank or financial institution in excess of what is required by regulators, central bank, or other financial authority.

Actual Reserves

The total reserves held by a bank, consisting of both required reserves and any excess reserves not needed to meet central bank requirements.

Discount Rate

The Discount Rate is the interest rate set by central banks at which financial institutions can borrow reserves, influencing monetary policy and the money supply.

Federal Reserve

The central banking system of the United States, responsible for monetary policy, regulation of banks, and providing financial services to depository institutions.