Chapter 10 Exam: Social Security

D) worker cannot perform his or her current job, but is actively seeking other employment Note: A worker is entitled to Social Security disability benefits if all of these are true EXCEPT for "worker cannot perform his or her current job, but is actively seeking other employment".

A worker is entitled to Social Security disability benefits if all of the following are true, EXCEPT for: A) worker is under age 65 B) worker is insured for disability benefits C) disability is expected to continue for 12 months or result in death D) worker cannot perform his or her current job, but is actively seeking other employment

B) Currently insured Note: To be considered "currently insured" and eligible for limited survivor benefits, you must have 6 credits of coverage during the last 13-quarter period.

According to Social Security, an individual with 6 credits of coverage during the previous 13- quarter period is considered to be: A) partially insured B) Currently insured C) fully insured D) not insured

A) It provides a source of income for a meaningful standard of living during retirement

All of the following statements correctly describe the purpose of Social Security EXCEPT A) It provides a source of income for a meaningful standard of living during retirement B) It provides basic protection against financial problems accompanying death, disability, and retirement C) It augments a sound personal insurance plan D) It provides retirement and survivor benefits to a worker and the worker's family

A) fully insured Note: An individual that has 40 quarters of coverage, for Social Security purposes, is considered to be fully insured.

An individual that has 40 quarters of coverage, for Social Security purposes, is considered to be A) fully insured B) currently insured C) PIA insured D) Partially insured

A) fully insured Note: There are two types of insured statuses that qualify individuals for Social Security benefits: 1) Fully insured 2) Currently insured Most Social Security benefits are paid to "FULLY INSURED INDIVIUDLAS"

An insured's status under Social Security can be described as A) fully insured B) partially insured C) Actively insured D) Completely insured

B) 6 quarters of coverage during the last 13- quarter Note: To reach currently insured status under the Social Security system, an individual must be credited with a MINIMUM 6 quarters of coverage during the last 13-quarter period.

In order to be considered "currently insured" under Social Security, an individual must be credited with: A) 12 quarters of coverage during the last 26-quarter period B) 6 quarters of coverage during the last 13- quarter period C) 15 total quarters of coverage D) 30 total quarters of coverage

B) Unable to engage in any substantial gainful activity Note: Unable to engage in any substantial gainful activity". As part of its definition of disability, Social Security requires that a disability claimant (applicant) be unable to perform what it calls substantial gainful activity (SGA).

What is considered to be the definition of disability, according to Social Security? A) Unable to engage in the worker's chosen career field B) Unable to engage in any substantial gainful activity C) Unable to perform duties in the worker's occupation D) Unable to perform occupation duties in similar career fields

D) protect certain vulnerable segments of the population

The reason for social insurance is to A) provide more products for agents to sell B) create dependents of government C) grow the U.S. economy D) protect certain vulnerable segments of the population

A) Year in which worker was born

What determines the Social Security normal retirement age? A) Year in which worker was born B) Worker's average lifetime income C) Number of dependents D) Number of quarters employed

A) 12 months Note: Social Security disability benefits are paid to persons except to die or be disabled for AT LEAST 12 months

How long is a person expected to be disabled in order to receive social security disability benefits? A) 12 months B) 4 months C) 6 months D) 18 months

C) Surviving spouse Note: The "blackout period" is the period of time when a surviving spouse will be unable to receive survivor benefits from social security if eligible for benefits. Currently a widower with or widower with dependent children will receive survival rebenefits until the youngest child reaches age 16 unless the child is disabled.

The "blackout period" affects whose benefits? A) Employer B) Disabled worker C) Surviving spouse D) Surviving children

B) Currently insured Note: To be considered "currently insured ' you must have 6 quarters of coverage during the last 1 3-quarter period.

Which Social Security status does a worker with 6 quarters of coverage during the last 13- quarter period have? A) partially insured B) Currently insured C) fully insured D) not insured

A) Fully insured

Which type of worker has social security benefits available to them? A) Fully insured B) Currently C) Partially insured D) Presently insured

A) A deceased worker's department parents of any age Note: Only dependent parents age 62 or older can receive survivorship benefits if they were dependent upon the deceased worker for at least half of their support.

Who is NOT eligible for Social Security survivor benefits? A) A deceased worker's department parents of any age B) A widow at any age who is caring for children younger than 16 C) A widow at full retirement age D) full-time students under the age of 19

A) Fully insured workers Note: Social Security retirement benefits are only available to covered workers who are fully insured upon retirement.

Who is eligible for retirement benefits under Social Security? A) Fully insured workers B) Currently insured workers C) Partially insured insured workers D) All disabled workers