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Finra Exam Series-6 Topic 9 Question 62 Discussion

Actual exam question for Finra's Series-6 exam
Question #: 62
Topic #: 9
[All Series-6 Questions]

Ms. Fortune died at the relatively young age of 60. Which of the following options are available to her 65-year-old spouse, the beneficiary of her IRA?

i. withdraw the entire balance in a single lump sum

ii. continue to make contributions to the IRA as if it were his own

iii. roll his deceased wife's IRA into an existing IRA that he owns

Show Suggested Answer Hide Answer
Suggested Answer: D

If Ms. Antsy is 53 years old and wants to invest in something that will allow her to begin making immediate withdraws and continue to make withdrawals until she turns 62 , you should recommend none of the choices provided. They are all annuities, and Ms. Antsy will be subject to a 10% penalty for withdrawing any amount prior to turning 59 .


by Golda at Jul 30, 2023, 01:56 PM

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Esteban
2 days ago
I'm not sure, but I think the answer is B) I and II only.
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Elly
2 days ago
Ha! Ms. Fortune died at 60, what a bummer. At least her spouse gets to inherit the IRA, that's a silver lining. I'm going with C, it just makes the most sense to me.
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Delpha
6 days ago
I disagree, I believe the answer is D) I, II, and III.
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Alishia
7 days ago
I think the answer is C) I and III only.
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Jamie
8 days ago
Hmm, I'm not sure about this one. Can the spouse really not make contributions to the inherited IRA? That seems a bit unfair. Oh well, I'll go with C just to be safe.
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Kattie
10 days ago
I'm pretty sure the correct answer is C. Option I and III only are available to the spouse, as they can withdraw the entire balance or roll it into their own IRA. Continuing to contribute to the deceased's IRA doesn't seem right.
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