Question 1

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.

Accepted Answer

A) True 
 B)False

Question 2

Social Security benefits are financed through payroll taxes paid by employers and employees and by a special tax on earnings paid by the self-employed.The tax rate for employers and employees is 6.2 percent for OASDI, up to a maximum amount of earnings called the _____.

Accepted Answer

The answer of Social Security benefits are financed through payroll...

Question 3

To be eligible to receive benefits, a worker must achieve insured status.If the worker's status is _____, most types of Social Security benefits are payable.

Accepted Answer

The answer of To be eligible to receive benefits, a...

Question 4

Wages beyond the threshold are not subject to the Medicare Part A tax, but they are subject to the OASDI tax.

Accepted Answer

A) True 
 B)False

Question 5

Identify the correct statement about survivors' benefits.

Accepted Answer

A)  A widow or widower of a fully insured deceased worker is qualified for benefits at age forty, if disabled.
B)  A divorced spouse qualifies for benefits if he or she was married to the worker for at least ten years even if he or she has remarried.
C)  A parent of a fully insured deceased worker is entitled to benefits if he or she is at least age sixty-two, even if he or she was not dependent on the child.
D)  In the absence of parents, a spouse, or children, the lump-sum death benefit of $255 is paid to the closest relative.
E)  A parent of a fully insured deceased worker is entitled to benefits if he or she is not entitled to a retirement or disability benefit equal to or larger than this survivors' benefit.

Question 6

In the case of _____, a benefit is reduced 5/9 of 1 percent for each month before the normal retirement age for Social Security benefits.

Accepted Answer

The answer of In the case of _____, a benefit...

Question 7

Write a note on the eligibility criterion for disability benefits under the Social Security program.

Accepted Answer

A fully insured worker who has a medical...

Question 8

The _____ program is the second largest social insurance program in the United States.

Accepted Answer

The answer of The _____ program is the second largest...

Question 9

The Social Security retirement benefit may be reduced for a retiree who is younger than normal retirement age and whose annual earned income exceeds the retirement earnings exempt amount; this provision is called the:

Accepted Answer

A)  compatibility test.
B)  exclusivity test.
C)  reliability test.
D)  earnings test.
E)  accountability test.

Question 10

The Social Security program is the foundation for health benefits for the retired population under the Medicare plans.Medicare Part A is mostly concerned about:

Accepted Answer

A)  doctors.
B)  hospitals.
C)  managed care medicine.
D)  the new drug program.
E)  nurses.

Question 11

Social Security _____ benefits protect the dependents of a fully or currently insured deceased worker.

Accepted Answer

A)  disability
B)  survivors'
C)  early retirement
D)  medical
E)  late retirement

Question 12

Medicare _____ is the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, enacted December 8, 2003.

Accepted Answer

The answer of Medicare _____ is the Medicare Prescription Drug,...

Question 13

Which of the following reasons can be attributed to the long-term financing gap faced by the Social Security and Medicare programs?

Accepted Answer

A)  Increasing birth rates and health care costs
B)  Pay-as-you-go system and declining birth rates
C)  Traditional system and increased longevity
D)  Increased birth rates and declining longevity
E)  Increased morbidity and birth rates

Question 14

The purpose of this test is to limit monthly cash benefits for retirees who have earned income and to reduce the cost of the Social Security program.Identify this test.

Accepted Answer

A)  Reliability test
B)  Accountability test
C)  Earnings test
D)  Compatibility test
E)  Exclusivity test

Question 15

The Social Security system is primarily a(n) _____ system, meaning that current tax revenues are used to pay the current benefits of Social Security recipients.

Accepted Answer

The answer of The Social Security system is primarily a(n)...

Question 16

Public assistance programs are also referred to as _____ programs.

Accepted Answer

The answer of Public assistance programs are also referred to...

Question 17

Social Security benefit amounts are increased annually by _____ linked to increases in the consumer price index.

Accepted Answer

automatic ...

Question 18

Which of the following statements is true about Social Security?

Accepted Answer

A)  Nearly all employees in private industry, railroad workers, and members of the armed forces are covered by Social Security.
B)  Railroad workers are excluded from Social Security.
C)  After 1984, local government bodies can elect not to cover certain employees under Social Security.
D)  Municipal governments that elected out prior to 1984 do not have the option to join the Social Security program voluntarily.
E)  Ministers are covered automatically and do not have the right to waiver, even on religious grounds.

Question 19

An individual is entitled to full disability benefit through Social Security if:

Accepted Answer

A)  he is blind and earning $1,500 in 2009.
B)  he is nonblind and earning $1,000 in 2009.
C)  he is blind, earns $500 in 2009, and refuses to participate in rehabilitation.
D)  he is permanently disabled, receiving benefits from workers' compensation.
E)  he is blind and earning $2,000 in 2009.

Question 20

Medicare _____, also known as Medicare+Choice, was authorized by the Balanced Budget Act of 1997.

Accepted Answer

The answer of Medicare _____, also known as Medicare+Choice, was...

Exam 18: Social Security

To be eligible to receive benefits, a worker must achieve insured status.If the worker's status is _____, most types of Social Security benefits are payable.

Correct AnswerverifiedShow Answer

The Social Security system is primarily a(n) _____ system, meaning that current tax revenues are used to pay the current benefits of Social Security recipients.

Correct AnswerverifiedShow Answer

Wages beyond the threshold are not subject to the Medicare Part A tax, but they are subject to the OASDI tax.

Correct AnswerverifiedShow Answer

Public assistance programs are also referred to as _____ programs.

Correct AnswerverifiedShow Answer

Medicare _____ is the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, enacted December 8, 2003.

Correct AnswerverifiedShow Answer

The _____ program is the second largest social insurance program in the United States.

Correct AnswerverifiedShow Answer

Medicare _____, also known as Medicare+Choice, was authorized by the Balanced Budget Act of 1997.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Write a note on the eligibility criterion for disability benefits under the Social Security program.

Correct AnswerverifiedA fully insured worker who has a medical...View AnswerShow Answer

Social Security benefit amounts are increased annually by _____ linked to increases in the consumer price index.

Correct Answerverifiedautomatic ...View AnswerShow Answer

The Social Security retirement benefit may be reduced for a retiree who is younger than normal retirement age and whose annual earned income exceeds the retirement earnings exempt amount; this provision is called the:

Correct AnswerverifiedShow Answer

Which of the following reasons can be attributed to the long-term financing gap faced by the Social Security and Medicare programs?

Correct AnswerverifiedShow Answer

Identify the correct statement about survivors' benefits.

Correct AnswerverifiedShow Answer

Which of the following statements is true about Social Security?

Correct AnswerverifiedShow Answer

The purpose of this test is to limit monthly cash benefits for retirees who have earned income and to reduce the cost of the Social Security program.Identify this test.

Correct AnswerverifiedShow Answer

Social Security benefits are financed through payroll taxes paid by employers and employees and by a special tax on earnings paid by the self-employed.The tax rate for employers and employees is 6.2 percent for OASDI, up to a maximum amount of earnings called the _____.

Correct AnswerverifiedShow Answer

In the case of _____, a benefit is reduced 5/9 of 1 percent for each month before the normal retirement age for Social Security benefits.

Correct AnswerverifiedShow Answer

Social Security _____ benefits protect the dependents of a fully or currently insured deceased worker.

Correct AnswerverifiedShow Answer

An individual is entitled to full disability benefit through Social Security if:

Correct AnswerverifiedShow Answer

The Social Security program is the foundation for health benefits for the retired population under the Medicare plans.Medicare Part A is mostly concerned about:

Correct AnswerverifiedShow Answer

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A fully insured worker who has a medical...
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