QKC Practice Questions - ASPPA Qualified 401(k) Consultant (QKC) Exam - QKC Practice Questions - ASPPA Qualified 401(k) Consultant (QKC) Exam

Question 1

Under IRC §414(n), a leased employee must generally be treated as the recipient employer's employee for qualified plan purposes once which condition is satisfied?

The individual has performed services on a substantially full-time basis for at least one year under primary direction or control of the recipient The individual has been on assignment for at least six months regardless of hours The leasing organization sponsors no retirement plan of its own The recipient pays the leasing organization more than $5,000 annually for the services

Correct Answer:

The individual has performed services on a substantially full-time basis for at least one year under primary direction or control of the recipient

Question 2

A leased employee is excluded from the recipient employer's plan if the leasing organization maintains a safe-harbor plan under IRC §414(n)(5). Which feature is required of that safe-harbor plan?

A money purchase pension plan with a 10% non-integrated contribution, immediate participation, and full and immediate vesting A 401(k) plan with at least 3% safe-harbor nonelective contributions A defined benefit plan providing at least a 2% accrual rate per year of service A SEP allowing each leased employee to contribute up to the §402(g) limit

Correct Answer:

A money purchase pension plan with a 10% non-integrated contribution, immediate participation, and full and immediate vesting

Question 3

When a worker meets the leased-employee definition, on whose payroll is the worker reflected for FICA and federal income tax withholding purposes?

The leasing organization remains the common-law employer for payroll and withholding even though the recipient must treat the worker as an employee for plan testing The recipient immediately becomes the payroll employer once the one-year threshold is met Both the recipient and the leasing organization must split payroll reporting on a 50/50 basis Payroll reporting transfers to whichever entity pays the higher hourly rate

Correct Answer:

The leasing organization remains the common-law employer for payroll and withholding even though the recipient must treat the worker as an employee for plan testing

Question 4

Which of the following workers is NOT counted toward the recipient's leased-employee group under §414(n)?

An independent contractor who fails the common-law-employee test and does not meet the §414(n) substantially full-time, primary-direction-or-control standard A clerical worker leased through a staffing firm for 16 months at 40 hours per week under the recipient's supervision An IT engineer placed by a leasing firm for 14 months performing core recipient work under recipient direction A project manager assigned for 13 months at 35+ hours per week under recipient supervision

Correct Answer:

An independent contractor who fails the common-law-employee test and does not meet the §414(n) substantially full-time, primary-direction-or-control standard

Question 5

For purposes of the §414(n)(5) safe-harbor 20% test, leased employees may not exceed 20% of which population?

The recipient's nonhighly compensated workforce The recipient's total workforce including HCEs The leasing organization's total client roster Plan participants benefiting under the recipient's qualified plan

Correct Answer:

The recipient's nonhighly compensated workforce

Question 1

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Prepare with the QKC Practice Questions - ASPPA Qualified 401(k) Consultant (QKC) Exam practice quiz. This question bank includes 100 questions covering plan, employer, compensation, purposes, and coverage. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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QKC Practice Questions - ASPPA Qualified 401(k) Consultant (QKC) Exam

This practice set contains 100 questions from the matching question bank and focuses on plan, employer, compensation, purposes, and coverage. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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QKC Practice Questions - ASPPA Qualified 401(k) Consultant (QKC) Exam

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