NO.PZ2018091705000104
问题如下：
Açor’s second meeting will be with Thanh Bañuq. Bañuq is Njau’s nephew and serves on the board of directors of Udhamini.Açor obtained the essential facts about Bañuq when she opened his account, including his risk and return objectives and the origin of his wealth. In preparation for the meeting, Açor considers the high level of taxes that Bañuq pays. Açor will recommend changing the asset location of high- dividend- paying equities that Bañuq owns from a taxable account to a retirement account with tax- free earnings and withdrawals.
Açor’s recommendation regarding asset location in Bañuq’s portfolio is most likely an example of tax:
选项：
A.deferral.
B.reduction.
C. avoidance.
解释：
C is correct. Changing the location of high- dividend- paying equities away from Bañuq’s taxable account to a retirement account with tax- free earnings and future liquidity events is an example of a tax avoidance strategy. Implementing this asset location change will eliminate the taxes that Bañuq would have been required to pay on investment income and gains in this account.
框架图P115，关于账户类型区分：retirement account（即个人养老金 individual account）就是TDA账户，和机构养老金账户区别是：机构养老金账户是 tax-exempt（即TEA），个人养老金由于是withdraw才征税，所以是deferred。之所以本题选C只是因为题干里说了是收益和取钱都免税麽？
