When You Use Five-Digit Account Numbers, Asset Account Numbers Can

question 13

Multiple Choice

When you use five-digit account numbers, asset account numbers can range from -

• A) 1000 to 19999
• B) 10000 to 10999
• C) 10000 to 19990
• D) 10000 to 19999

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Definitions:

Beneficiaries

Individuals or entities designated to receive assets from an estate, trust, account, or insurance policy upon the owner's death.

Annuity

An annuity is a financial product that pays out a fixed stream of payments to an individual, typically used as part of a retirement strategy.

Stream of Payments

A series of payments made over a period of time, typically referring to annuities, loans, or investments.

Pension Plan Distributions

Payments made from a pension plan to the beneficiary, retiree, or employee, which can be taxable or non-taxable depending on the plan type and contribution history.