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• D)Funds set aside to be withdrawn after the age of 59.5 without penalty.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:

Personalized Power Motive

The drive to influence and control others for one’s own personal gain or satisfaction.

Dairy Procurement

The process of sourcing and acquiring milk or milk products from farmers or suppliers for commercial use.

Pessimistic Outlook

A tendency to see the worst aspect of things or believe that the worst will happen; a lack of hope or confidence in the future.

Effective Self-Management

The capacity to regulate one's emotions, thoughts, and behaviors in different situations to achieve personal and professional goals.