Series 6 - Investment Company And Variable Contracts Products Representative Exam

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If an individual does not take a sufficient required minimum distribution from his IRA, the penalty incurred is:

6% of the amount that should have been withdrawn
A
10% of the amount that should have been withdrawn
B
25% of the amount that should have been withdrawn
C
50% of the amount that should have been withdrawn
D

Explanations

The insufficient distribution penalty for RMDs is 50% of the amount that should have been taken.

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