10. Which of the following statements is INCORRECT?

a. Qualified pension plans may be contributory or noncontributory.

b. An employer can require employees to make contributions as long as the plan is non-discriminatory.

c. A profit-sharing plan does not qualify as a pension plan because the amount of profit in a year cannot be known in advance.

d. With a defined-contribution plan, the amount of total retirement benefits is unknown.

13. Which of the following statements regarding a Coverdell Education Savings Account (CESA) is INCORRECT?

a. In order to be tax-free, distrutions must be used exclusively to pay the qualified educaiton expenses of the beneficiary.

b. Any person can contribute to only one CESA, even if he or she is not related to the beneifciary.

c. A person can contribute to only one CESA during each tax year.

d. Contributions to a CESA are not tax-deductible.