Series 7 Exam Prep 12, Retirement Accounts and ERISA Basics

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The critical tax differences between Traditional IRAs (pre-tax, taxed later) and Roth IRAs (post-tax, tax-free later) and how it impacts suitability. - The distinction between a defined benefit plan, where the employer bears the investment risk, and a defined contribution plan, where the employee bears the risk. - The rules for moving retirement funds, including the 60-day rollover rule versus a direct trustee-to-trustee transfer. - Key exceptions to the 10% early withdrawal penalty, such as death, disability, and first-time home purchases. - The fundamental fiduciary responsibilities imposed by ERISA on qualified retirement plans, including the prudent person rule. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep