SIE Exam Question 660: Answer and Explanation

Question: 660

The two broad categories of defined contribution plans are:

• A. defined benefit plans and pension plans.
• B. personal plans and employer plans.
• C. profit sharing plans and pension plans.
• D. qualified plans and profit sharing plans.

Correct Answer: C

Explanation:

The two broad categories of defined contribution plans are profit sharing plans and pension plans.