1.Which of the following is true of Traditional 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I. The investment growth in the account is typically subject to tax when withdrawn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. I and IV only

d. IV only

e. I, II and IV

2.

Which of the following is true?

I. Contributing $5,000 into a Roth IRA and another $5,000 into a Traditional IRA for the same tax year for the same person is an effective tax/investment strategy.

II. Distributions from your Traditional IRA prior to age 70 are always subject to penalty.

Select one:

a. I only

b. II only

c. I and II

d. Neither is true