1. Max is 43 and earns $300,000 in 2018. He is eligible for SEP benefits from his employer. The maximum SEP contribution in 2018 for which he is eligible is:

$18,500

$$68,750

$55,000

$75,000

2. De'Shaun is 27 years of age and has worked for Palmer Inc. for 6 consecutive years. In 2018, because of injuries, he only earned $400. He is eligible for benefits from a SEP-IRA in 2018. T/F?

True

False

3. Employer contributions to a SIMPLE IRA are subject to a vesting schedule. T/F?

True

False