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Risk Management

Business

Quiz 18 :

Social Security

Quiz 18 :

Social Security

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A widow or widower of a fully insured deceased worker is qualified for benefits at age fifty, if disabled.
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True False
Answer:

Answer:

True

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A beneficiary attaining the normal retirement age after 2002 is exempt from reduction of Social Security benefits regardless of the amount of earned income.
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True False
Answer:

Answer:

True

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The combination of Part C Medicare Advantage plans with Part D prescription drug benefits are known as Medicare Advantage Prescription Drug plans.
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True False
Answer:

Answer:

True

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Both Social Security and Medicare programs face a long-term financing gap.
True False
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Anyone who is eligible railroad retirement benefits at age sixty-five is also eligible for Medicare Part A.
True False
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Through Medicare Part D, eligible participants can elect to receive the benefits of Medicare Parts A and B through private health plans, in addition to certain items not covered by Medicare Parts A and B.
True False
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Like social insurance, employers and employees pay into the public assistance system to earn their rights to benefits.
True False
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For an individual retiring past the normal retirement age, the final benefit amount is equal to what the PIA formula reveals.
True False
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Wages beyond the threshold are not subject to the Medicare Part A tax, but they are subject to the OASDI tax.
True False
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The current generations of taxpayers are confident about the ability of the Social Security system to deliver benefits at current inflation-adjusted levels.
True False
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The current Social Security benefit levels cannot be maintained without raising Social Security withholding taxes or extending the normal retirement age.
True False
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Social insurance is also referred to as public assistance.
True False
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Normal retirement age for the purposes of Social Security ranges from sixty-two to sixty-five.
True False
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The insurance principles of assessing and pooling risk do not apply to welfare programs.
True False
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Social Security is need-based and does not depend on a person's employment history.
True False
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A fully insured worker is entitled to receive reduced benefits for Social Security, if he retires at the age of sixty-two.
True False
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If an individual qualifies as both a worker and as the spouse of a worker, the beneficiary will receive whichever primary insurance amount is greater, but not both.
True False
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In the last two decades, Social Security taxes have increased much faster than the general level of prices, but not as fast as the cost of health care.
True False
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The bend points decrease as average wages in the economy increase.
True False
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Both public assistance programs and social insurance programs are organized and undertaken by the government and have the broad social purpose of reducing want and destitution.
True False
Answer:
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