Thread: 2019 EA-2L PAK
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Old 08-02-2019, 01:45 PM
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Quote:
Originally Posted by cathdoesmath View Post
In case it's helpful to anyone, I just scored my exam sheet and it looks like I earned 71 points -- and I got a 6.
what about for these 2 questions?

Quote:
Originally Posted by davefarber View Post
I've reviewed the exam, and have definite issues with two questions.

Question 12: This is a True statement, and it may simply be that the answer key has a typo (in which case they would most likely just fix that and give credit only for answer choice A). It is an almost word-for-word copy of IRC section 4975(c)(1)(B).

Question 42: The correct answer to this question is $252, which is choice A. As some have mentioned in this thread, the big issue here is whether to consider compensation paid to Smith prior to the plan effective date of 1/1/2015. Treasury regulation 1.416-1, Q&A M-2, part (b) discusses salary issues with regard to the top heavy minimum benefit, specifically with regard to salary paid in years prior to the plan effective date. If the plan allows for exclusion of those years under IRC section 411(a)(4)(C), then those years of salary are excluded for purposes of the top heavy minimum benefit. There is no mention of any service excluded in this question, and there is no general condition that states that any service is excluded. As a result, salary paid in this question prior to the plan effective date is used for the top heavy minimum 5-year average salary (excluding salary paid prior to 2015 gives a top heavy minimum of $260, which is in answer range B). They probably intended to include a statement in the question that said something such as "The plan uses the most restrictive definition of service for purposes of vesting under IRC section 411(a)." Based upon past history, my guess is that they will give credit for both answers A and B (although A is the truly correct answer).
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