Finra Series-6 Exam - Topic 9 Question 62 Discussion

Actual exam question for Finra's Series-6 exam

Question #: 62
Topic #: 9

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

AI only

BI and II only

CI and III only

DI, II, and III

Show Suggested 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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Freeman

6 months ago

Isn't it surprising that he can withdraw everything at 60?

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Danica

6 months ago

I agree, I think it's I and III only.

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Gregg

7 months ago

Wait, can he really keep contributing to it? That seems off.

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Emmett

7 months ago

I think he can also roll it into his own IRA.

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Rickie

7 months ago

He can definitely withdraw the entire balance.

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Ivette

7 months ago

I’m pretty confident that I and III are correct, but I’m torn about whether II is valid or not.

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Roselle

7 months ago

I feel like option II might not be allowed since it's not his own IRA, but I could be wrong.

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Sina

8 months ago

I think I saw a similar question where the spouse could roll over the IRA, but I can't recall if they can still contribute to it.

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Jackie

8 months ago

I remember studying that a spouse can withdraw the entire balance, but I'm not sure about the contribution part.

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Mila

8 months ago

This seems like a pretty straightforward question. I think the key is to focus on the purpose of the presentation, which is to ensure a shared understanding of the information. Option D looks like the best answer to me.

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Scot

8 months ago

I wonder if microservices count really affects user experience directly? It seems less relevant compared to CPU metrics...

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Kanisha

8 months ago

I'm pretty sure the answer is A - running UPDATE STATISTICS. That's the SQL command I've used before to update table statistics.

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Chaya

8 months ago

Hmm, I'm a bit confused by the wording of this question. I'll need to re-read it a few times and think through the differences between the bank products listed to figure out the right answer.

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Billi

1 year ago

Option II? Really? That's like trying to revive a dead goldfish by feeding it more food. I'm definitely going with C on this one.

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Chi

11 months ago

I'm with you both. Option II does seem a bit odd. Option C makes more sense in this situation.

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Kerry

11 months ago

Yeah, I agree. Option II doesn't make much sense. Option C seems like the best choice.

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Raul

11 months ago

I think option II is a bit of a stretch. I'm leaning towards option C as well.

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Crista

1 year ago

This is a tricky one, but I think C is the way to go. I mean, who would want to keep contributing to their deceased spouse's IRA? That's just weird, right?

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Lenora

11 months ago

Yeah, I wouldn't want to keep contributing to my deceased spouse's IRA either.

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Erinn

12 months ago

I agree, it's probably easier to manage that way.

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Becky

12 months ago

I think C is the best option. Rolling the IRA into an existing one makes sense.

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Esteban

1 year ago

I'm not sure, but I think the answer is B) I and II only.

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Elly

1 year 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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Tennie

1 year ago

I agree, C seems like the best option for the spouse.

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Glory

1 year ago

I'm going with C, it just makes the most sense to me.

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Delpha

1 year ago

I disagree, I believe the answer is D) I, II, and III.

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Alishia

1 year ago

I think the answer is C) I and III only.

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Jamie

1 year 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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Dyan

1 year ago

So, the correct answer would be C) I and III only.

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Marquetta

1 year ago

I think the spouse can only withdraw the entire balance or roll it into an existing IRA.

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Celestina

1 year ago

Yeah, that's correct. The options are limited for the beneficiary of an inherited IRA.

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Johnetta

1 year ago

I'm pretty sure the spouse can't make contributions to an inherited IRA.

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Kattie

1 year 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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