Which Best Defines a 529 Plan

question 48

Multiple Choice

Which best defines a 529 plan?

• A)An account that is designed to help finance future college expenses.
• B)A time deposit account where the depositor agrees on a time period and sum of money.
• C)An account that allows the holder to write checks against funds deposited in the account.
• D)Funds set aside to be withdrawn after the age of 59.5 without penalty.

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Definitions:

Unconscious Impulses

Unconscious impulses are desires or motivations that influence an individual's thoughts and actions without their conscious awareness.

Attributing

Attributing involves assigning a cause or reason to an event or behavior, often relating to explaining why something happened.

Defense Mechanism

Psychological strategies employed unconsciously to protect oneself from anxiety or social sanctions and to manage emotional conflicts.

Reaction Formation

A defense mechanism where an individual behaves in a way directly opposed to their actual feelings or desires, often to hide those feelings.