Roth IRA Contribution Limits 2005 to 2009

401k Participants have seen growth rates of 50% over the past 7 years. Long Term Contributors saw their savings grow from $67,785 in 1999 to $102,014 in the year 2005.
Fact: Employee Benefit Research Institute and the Investment Company Institute (EBRI).

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Roth IRA Contribution Limits 2005 to 2009 - Test Your Knowledge

The questions in this quiz are taken from the page Roth IRA Contribution Limits for 2005, 2006, 2007, etc The quiz will tell you what questions you got wrong, and you can use the reference page to check up the correct answers.

1) What is the Max Roth IRA Contribution Limit for 2008?

a) $4000
b) $4500
c) $5000
d) $6000

2) After 2008, the Max Roth IRA Contribution Limit will be incremented by ____ per year

a) $300
b) $400
c ) $500
d ) $600

3) Contributions to a Roth IRA must be made in LUMP SUM format?

a) True
b) False

4) Can Roth IRA Contributions be carried back or forward from year to year?

a) Yes
b) No

5) What is the Max Roth IRA Contribution Limit for 2006?

a) $4000
b) $4500
c) $5000
d) $6000

6) Which of the following is NOT an eligible income type to be able to contribute towards a Roth IRA?

a) Professional Fees
b) Tips & Gratuities
c) Office Employment Income
d) Dividends earned

7) There are no age restrictions when contributing towards a Roth IRA.

a) True
b) False

8) You are allowed to make Spousal Roth IRA Contributions on behalf of your Spouse?

a) True
b) False

9) If you contribute only $2000 towards your Roth IRA in 2007 (when the maximum limit was $4000, what's the maximum you can contribute in 2008?

a) $8000
b) $7000
c) $6000
d) $5000

10) Which of the following Roth IRA Contribution styles are NOT permitted for the year 2008?

a) $5000 / 12 months = $417 per month for 12 months
b) $5000 / 4 = $1250 every 3 months
c) $2500 every 6 months
d) $5500 at December 31st, 2005

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