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Retirement Intermediate: IRA Distributions

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1.
The annuity method provides only for the distribution of dividends.
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False. The money it takes from a fund includes principal as well as all earnings.
2.
Which of the following is not an exception to the 10 percent early withdrawal penalty for IRAs?
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First-time automobile expenses. First-time home purchases, however, are allowed.
3.
The earnings of an IRA include all of the following except _______.
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The money you paid into the IRA. This money is a contribution, rather than earnings.
4.
When it comes time to withdraw from your IRA for retirement, you can elect an IRA distribution method in which your IRA periodically sells plan assets.
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True. It will sell assets and distribute the proceeds to you.
5.
IRA contributions that were not taxed when you made them are taxable when you withdraw them.
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True. They must eventually be taxed.