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Old-Age, Survivors, and Disability Insurance (OASDI)

Description: This quiz covers the basics of Old-Age, Survivors, and Disability Insurance (OASDI), a government program that provides financial assistance to retirees, survivors, and people with disabilities.
Number of Questions: 14
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Tags: oasdi social security retirement disability
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What is the full name of the Old-Age, Survivors, and Disability Insurance program?

  1. Old-Age, Survivors, and Disability Insurance

  2. Social Security

  3. Medicare

  4. Medicaid


Correct Option: A
Explanation:

OASDI is a federal program that provides financial assistance to retirees, survivors, and people with disabilities.

Who is eligible for OASDI benefits?

  1. People who have worked and paid Social Security taxes

  2. People who are over the age of 65

  3. People who have a disability

  4. All of the above


Correct Option: D
Explanation:

To be eligible for OASDI benefits, you must have worked and paid Social Security taxes, be over the age of 65, or have a disability.

What is the retirement age for OASDI benefits?

  1. 62

  2. 65

  3. 67

  4. 70


Correct Option: C
Explanation:

The full retirement age for OASDI benefits is 67 for people born in 1960 or later.

What is the survivor benefit for OASDI?

  1. A monthly payment to the surviving spouse of a deceased worker

  2. A monthly payment to the surviving children of a deceased worker

  3. A monthly payment to the surviving parents of a deceased worker

  4. All of the above


Correct Option: D
Explanation:

The survivor benefit for OASDI provides monthly payments to the surviving spouse, children, and parents of a deceased worker.

What is the disability benefit for OASDI?

  1. A monthly payment to people who are unable to work due to a disability

  2. A monthly payment to people who are over the age of 65 and have a disability

  3. A monthly payment to people who are blind or disabled

  4. All of the above


Correct Option: D
Explanation:

The disability benefit for OASDI provides monthly payments to people who are unable to work due to a disability, people who are over the age of 65 and have a disability, and people who are blind or disabled.

How much are OASDI benefits?

  1. The amount of OASDI benefits depends on your earnings and the number of years you worked

  2. The average OASDI benefit is $1,500 per month

  3. The maximum OASDI benefit is $2,800 per month

  4. All of the above


Correct Option: D
Explanation:

The amount of OASDI benefits depends on your earnings and the number of years you worked. The average OASDI benefit is $1,500 per month, and the maximum OASDI benefit is $2,800 per month.

How can I apply for OASDI benefits?

  1. You can apply for OASDI benefits online, by phone, or in person at a Social Security office

  2. You can apply for OASDI benefits up to six months before you reach retirement age

  3. You can apply for OASDI benefits up to two years after you reach retirement age

  4. All of the above


Correct Option: D
Explanation:

You can apply for OASDI benefits online, by phone, or in person at a Social Security office. You can apply for OASDI benefits up to six months before you reach retirement age, or up to two years after you reach retirement age.

What is the difference between OASDI and SSI?

  1. OASDI is a federal program, while SSI is a state program

  2. OASDI is based on your earnings, while SSI is based on your income and assets

  3. OASDI provides monthly payments to retirees, survivors, and people with disabilities, while SSI provides monthly payments to people with disabilities and people who are over the age of 65

  4. All of the above


Correct Option: D
Explanation:

OASDI is a federal program, while SSI is a state program. OASDI is based on your earnings, while SSI is based on your income and assets. OASDI provides monthly payments to retirees, survivors, and people with disabilities, while SSI provides monthly payments to people with disabilities and people who are over the age of 65.

What is the future of OASDI?

  1. OASDI is facing a financial crisis

  2. OASDI is expected to run out of money by 2035

  3. Congress is considering ways to reform OASDI

  4. All of the above


Correct Option: D
Explanation:

OASDI is facing a financial crisis. OASDI is expected to run out of money by 2035. Congress is considering ways to reform OASDI.

What are some of the ways to reform OASDI?

  1. Increase the Social Security tax rate

  2. Raise the retirement age

  3. Reduce the cost-of-living adjustments

  4. All of the above


Correct Option: D
Explanation:

Some of the ways to reform OASDI include increasing the Social Security tax rate, raising the retirement age, and reducing the cost-of-living adjustments.

What is the best way to prepare for retirement?

  1. Start saving early

  2. Invest your money wisely

  3. Get a part-time job after you retire

  4. All of the above


Correct Option: D
Explanation:

The best way to prepare for retirement is to start saving early, invest your money wisely, and get a part-time job after you retire.

What are some of the resources available to help people with disabilities?

  1. The Social Security Administration

  2. The Department of Veterans Affairs

  3. The National Institute on Disability and Rehabilitation Research

  4. All of the above


Correct Option: D
Explanation:

Some of the resources available to help people with disabilities include the Social Security Administration, the Department of Veterans Affairs, and the National Institute on Disability and Rehabilitation Research.

What are some of the challenges facing people with disabilities?

  1. Discrimination

  2. Lack of access to employment

  3. Lack of access to healthcare

  4. All of the above


Correct Option: D
Explanation:

Some of the challenges facing people with disabilities include discrimination, lack of access to employment, and lack of access to healthcare.

What are some of the ways to advocate for the rights of people with disabilities?

  1. Contact your elected officials

  2. Join a disability rights organization

  3. Donate to a disability rights organization

  4. All of the above


Correct Option: D
Explanation:

Some of the ways to advocate for the rights of people with disabilities include contacting your elected officials, joining a disability rights organization, and donating to a disability rights organization.

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