The Series 65/66 exam may ask a question like the following:
In a "money purchase plan" contributions are
I. discretionary on the part of the employer
II. discretionary on the part of the employee
III. mandatory on the part of the employer
IV. mandatory on the part of the employee
A. I, IV
B. II, IV
C. II, III
D. I, II
EXPLANATION: someone who really knows a lot about retirement plans would probably be unable to answer this question. Since I'm just a test-prep expert, I know how the test question writers think, and I know they want me to say that the money-purchase plan involves a mandatory contribution by the employer, and the employee can also contribute (discretionary). So, I choose "C."
If you vehemently disagree with this and can explain why, send me an email firstname.lastname@example.org.