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Social Security: A Cornerstone of Social Policy

Description: Social Security: A Cornerstone of Social Policy
Number of Questions: 15
Created by:
Tags: social security social policy welfare
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What is the primary purpose of Social Security?

  1. To provide financial assistance to low-income individuals.

  2. To provide retirement benefits to workers.

  3. To provide disability benefits to individuals who are unable to work.

  4. To provide survivors benefits to families of deceased workers.

Show answer
Correct Option: B
Explanation:

Social Security is a federal program that provides retirement, disability, and survivors benefits to workers and their families.

Who is eligible for Social Security retirement benefits?

  1. Individuals who have worked for at least 10 years.

  2. Individuals who have reached the age of 62.

  3. Individuals who have become disabled.

  4. Individuals who have lost a spouse.

Show answer
Correct Option:
Explanation:

To be eligible for Social Security retirement benefits, an individual must have worked for at least 10 years and have reached the age of 62.

How is the amount of Social Security retirement benefits calculated?

  1. Based on the individual's average earnings over their lifetime.

  2. Based on the individual's highest earnings over their lifetime.

  3. Based on the individual's current earnings.

  4. Based on the individual's age.

Show answer
Correct Option: A
Explanation:

The amount of Social Security retirement benefits is calculated based on the individual's average earnings over their lifetime.

What is the maximum amount of Social Security retirement benefits that an individual can receive?

  1. $2,000 per month.

  2. $3,000 per month.

  3. $4,000 per month.

  4. $5,000 per month.

Show answer
Correct Option: C
Explanation:

The maximum amount of Social Security retirement benefits that an individual can receive is $4,000 per month.

What is the age at which an individual can start receiving Social Security retirement benefits?

  1. 62.

  2. 65.

  3. 67.

  4. 70.

Show answer
Correct Option: A
Explanation:

An individual can start receiving Social Security retirement benefits at the age of 62.

What is the penalty for taking Social Security retirement benefits before the full retirement age?

  1. A reduction in benefits of 5% per year.

  2. A reduction in benefits of 10% per year.

  3. A reduction in benefits of 15% per year.

  4. A reduction in benefits of 20% per year.

Show answer
Correct Option: A
Explanation:

The penalty for taking Social Security retirement benefits before the full retirement age is a reduction in benefits of 5% per year.

What is the full retirement age for Social Security?

  1. 62.

  2. 65.

  3. 67.

  4. 70.

Show answer
Correct Option: C
Explanation:

The full retirement age for Social Security is 67.

What is the difference between Social Security retirement benefits and Social Security disability benefits?

  1. Retirement benefits are paid to individuals who have reached the age of 62, while disability benefits are paid to individuals who are unable to work.

  2. Retirement benefits are paid to individuals who have worked for at least 10 years, while disability benefits are paid to individuals who have worked for at least 5 years.

  3. Retirement benefits are paid to individuals who have paid Social Security taxes, while disability benefits are paid to individuals who have not paid Social Security taxes.

  4. Retirement benefits are paid to individuals who have a spouse or dependent children, while disability benefits are paid to individuals who do not have a spouse or dependent children.

Show answer
Correct Option: A
Explanation:

Social Security retirement benefits are paid to individuals who have reached the age of 62, while Social Security disability benefits are paid to individuals who are unable to work.

Who is eligible for Social Security disability benefits?

  1. Individuals who have worked for at least 10 years.

  2. Individuals who have reached the age of 62.

  3. Individuals who have become disabled.

  4. Individuals who have lost a spouse.

Show answer
Correct Option: C
Explanation:

To be eligible for Social Security disability benefits, an individual must have become disabled.

How is the amount of Social Security disability benefits calculated?

  1. Based on the individual's average earnings over their lifetime.

  2. Based on the individual's highest earnings over their lifetime.

  3. Based on the individual's current earnings.

  4. Based on the individual's age.

Show answer
Correct Option: A
Explanation:

The amount of Social Security disability benefits is calculated based on the individual's average earnings over their lifetime.

What is the maximum amount of Social Security disability benefits that an individual can receive?

  1. $2,000 per month.

  2. $3,000 per month.

  3. $4,000 per month.

  4. $5,000 per month.

Show answer
Correct Option: A
Explanation:

The maximum amount of Social Security disability benefits that an individual can receive is $2,000 per month.

What is the age at which an individual can start receiving Social Security disability benefits?

  1. 18.

  2. 21.

  3. 25.

  4. 30.

Show answer
Correct Option: A
Explanation:

An individual can start receiving Social Security disability benefits at the age of 18.

What is the waiting period for Social Security disability benefits?

  1. 3 months.

  2. 6 months.

  3. 9 months.

  4. 12 months.

Show answer
Correct Option:
Explanation:

The waiting period for Social Security disability benefits is 5 months.

What is the Social Security Trust Fund?

  1. A fund that is used to pay Social Security benefits.

  2. A fund that is used to pay Medicare benefits.

  3. A fund that is used to pay Medicaid benefits.

  4. A fund that is used to pay unemployment benefits.

Show answer
Correct Option: A
Explanation:

The Social Security Trust Fund is a fund that is used to pay Social Security benefits.

What is the current status of the Social Security Trust Fund?

  1. It is projected to be depleted by 2035.

  2. It is projected to be depleted by 2040.

  3. It is projected to be depleted by 2045.

  4. It is projected to be depleted by 2050.

Show answer
Correct Option: A
Explanation:

The Social Security Trust Fund is projected to be depleted by 2035.

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