Series 7 Exam Question 131: Answer and Explanation

Question: 131

By what age must an individual begin withdrawing money from a qualified retirement plan?

• A. 59½
• B. 70½
• C. April 1st of the year after turning 70½
• D. April 1st of the year after turning 72

Correct Answer: D

Explanation:

D. As of January 1st, 2020, individuals must begin taking minimum distributions from their qualified retirement plans by April 1st of the year after turning 72.