Question 8.8. Escobar and Rose are both age 36 and file a joint return. Neither is covered under an employer plan. Escobar earned $121,000 of compensation in 2014. Rose worked part-time and earned $1,200. What is the maximum deductible IRA contribution they can make in 2014?

$0. $5,500. $6,700. $11,000.

Question 9.9. In 2014, a 52-year-old participant in a 401(k) plan may contribute a maximum of:

$6,500. $14,500. $17,500. $23,000.

Question 10.10. In order to obtain and retain qualified status, a pension or profit-sharing plan must not discriminate in favor of highly compensated employees which include:

Employees who own more than 5% of the corporation's stock. Employees who received over $85,000 compensation in the previous year. Employees who were in the top 25% of employees based on compensation. None of these.