An Employee Who Has Not Reached Twenty-One Years of Age

question 72

True/False

An employee who has not reached twenty-one years of age is not eligible for protection under ERISA.

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Definitions:

Forward Contract

A derivative financial contract obligating the buyer to purchase an asset, or the seller to sell an asset, at a predetermined future date and price.

Swap Contract

An agreement by two parties to exchange, or swap, specified cash flows at specified intervals in the future.

Currencies

Forms of money that are issued by governments and used as a medium of exchange for goods and services in economic transactions.

Interest Rates

The percentage charged on the total amount borrowed or earned, reflecting the cost of borrowing or the yield on investments.