1. Which of the following is true of Roth IRAs

I. The investment growth in the account is typically subject to tax when withdrawn

II. Participating in a pension plan may impact your ability to make a contribution

III. Your AGI may affect your ability to make a contribution

IV. If you do not have earned income, you may still be able to make a contribution if you are married to someone with earned income

Select one:

a. I and II only

b. III only

c. III and IV only

d. IV only

e. I, II and IV

2.

Which of the following is true of Traditional IRAs

I. Contributions are always tax deductible

II. The annual contribution limit is $3,000

III. You can contribute after age 75 if you have earned income

IV. You must begin taking distributions by April 1 of the year following the year in which you turn 72.

Select one:

a. I and II only

b. III only

c. III and IV only

d. IV only

e. I, II and IV