Which of the Following Are Characteristics of a Traditional IRA

question 47

Multiple Choice

Which of the following are characteristics of a traditional IRA?

• A)Most distributions made before age 59½ are subject to a 10 percent penalty tax.
• B)A taxpayer must begin taking distributions from the IRA by age 75½.
• C)Neither is a characteristic.
• D)Both are characteristics.

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Definitions:

Discrimination

Unfair or prejudiced treatment of individuals based on their race, age, sex, nationality, or other protected characteristics.

Title VII

A section of the Civil Rights Act of 1964 that prohibits employment discrimination based on race, color, religion, sex, or national origin.

Bona Fide Occupational Qualification

A work requirement that is essential for the performance of a job, even if it appears to be discriminatory, because it relates directly to the core operations of the business.

Discriminate

To treat someone differently or less favorably on the basis of certain characteristics, such as race, gender, or disability, which is often considered unlawful.