Self Directed Retirement Accounts Such as Keogh and SEP Accounts

question 49

Multiple Choice

Self directed retirement accounts such as Keogh and SEP accounts can be set up at

• A) banks.
• B) brokerage houses.
• C) insurance companies.
• D) mutual fund companies.
• E) All of the above

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Definitions:

Deposit

A sum of money placed into a bank account or given as part of a contractual agreement as a security for future performance.

Compounded Monthly

The process of calculating interest on both the initial principal and the accumulated interest from previous periods, with the compounding done monthly.

Future Value

The value of a current asset at a specified date in the future based on an assumed rate of growth.

Invested

The act of allocating resources, usually money, with the expectation of generating an income or profit.