Which of the Following Is Not a Characteristic of a Traditional

question 3

Multiple Choice

Which of the following is not a characteristic of a traditional IRA?

• A) For a married couple, the contribution limit doubles.
• B) Individuals over 50 are allowed to make additional catch-up contributions.
• C) Everyone is eligible for deductible contributions regardless of income.
• D) A 10% penalty normally applies if funds are withdrawn before age 59 1/2.

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Definitions:

Punctual

The quality of being on time to appointments or obligations, reflecting a respect for other people's time as well as one's own.

Five-Factor Model

A theory identifying five primary dimensions of personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Conscientiousness

A personality trait characterized by thoroughness, carefulness, and the desire to do a task well.

Dependable

Capable of being relied on; trustworthy and consistent in performance or behavior.