General Securities Sales Supervisor (Series 10) 2025 – 400 Free Practice Questions to Pass the Exam

The statement regarding the individual's ability to contribute to both a Keogh Plan and an IRA is accurate, as these retirement savings vehicles can be utilized concurrently. A self-employed individual can indeed make contributions to their existing Keogh Plan derived from self-employment income and simultaneously contribute to an Individual Retirement Account (IRA) using their earnings from part-time work with the corporation. This dual approach allows for broader retirement savings and diversification of investment strategies.

Contributions to an IRA, however, do have some income limits and tax implications, especially if the individual is also covered by a retirement plan from their employment with the corporation. Nevertheless, the foundational aspect remains that contributions can exist harmoniously without having to freeze or stop contributions to the individual’s Keogh Plan. This flexibility is beneficial for maximizing retirement savings across different sources of income.

This option effectively highlights the opportunity for individuals to take full advantage of available retirement plans, promoting a more secure financial future. The other choices do not accurately reflect the regulations governing these retirement accounts.