Series 7 - General Securities Representative Exam

Training Mode

Unit 1 Unit 2 Unit 3 Unit 4

John lost his job recently and needs money for living expenses. He chooses to withdraw from his Traditional IRA. John is 33 years old. John will have

to pay a 10% early withdrawal penalty and no income tax

A

to pay a 15% early withdrawal penalty

B

no tax or penalty implications

C

to pay a 10% early withdrawal penalty and income tax

D