Which of the Following Statements Comparing Traditional and Roth IRAs

question 36

Multiple Choice

Which of the following statements comparing traditional and Roth IRAs is false?

• A) For a 57-year old individual, the maximum allowable contribution to either type of IRA is $6,000.
• B) Contributions to traditional IRAs may be deductible; contributions to Roth IRAs are nondeductible.
• C) Individuals who have reached age 70½ must begin liquidating either type of IRA.
• D) Individuals may have to pay a premature withdrawal penalty from either type of IRA.

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Definitions:

Machine Learning

A field of computer science that uses algorithms and statistical models to enable computers to perform tasks without explicit instructions, through patterns and inference.

Knowledge Representation

A field in artificial intelligence that focuses on the way knowledge is formalized, structured, and used by computers to perform complex tasks.

Supervised Learning

A type of machine learning where the algorithm is trained on a labeled dataset, which means that each training sample is paired with an output label.

Computer Forensics

The practice of collecting, analyzing, and reporting on digital data in a way that is legally admissible, typically in the context of cyber crime investigations.