1. True or False: When developing an educational savings plan, a financial planner is best served by assuming that a clients children will receive scholarships and grants equal to at least 50 percent of tuition costs.
2. True or False: Contributions to a Roth IRA may be withdrawn at any time without incurring taxation or a penalty.
3. True or False: Dependent children are expected to contribute 20 percent of assets and 50 percent of income to educational expenses.
4. True or False: Parents are expected to contribute 20 percent of asset and 10 percent of annual income to education expenses.
5. True or False: Clients who have a weak credit history because of delinquent payments, foreclosure, loss of employment, or other issues will likely be ineligible for a PLUS loan.