Series 7 Exam Prep 95, Retirement and Rollover Recommendation Traps

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:

- Why a rollover recommendation is a suitability determination under FINRA Rule 2111 and Regulation Best Interest.

- How to compare 401(k) and IRA features, including fees, investment options, and services, to avoid common exam traps.

- The critical differences between direct and indirect rollovers, focusing on the 20% withholding rule and the 60-day window.

- Key distinctions in Required Minimum Distribution (RMD) rules between 401(k)s and IRAs, especially for clients working past age 73.

- The importance of considering beneficiary designations and how rollover decisions can impact estate planning for spouses and non-spouses.

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