RMI Test 1
Which of the following statements concerning Medicare benefits available to those over 65 are true? 1. Medigap coverage is available to cover costs not paid for by Medicare, but only under federal guidelines. 2. A patient pays deductibles for hospital stays, but nothing for doctor visits. 3. Part A of Medicare coverage is optional for those covered by Social Security and requires a monthly premium.
1 only Part A (hospital coverage) covers all those eligible for Social Security, without any payment of premiums. Part B is optional and requires the payment of premiums. Medigap coverages come in only a limited number of combinations, mandated by federal regulations. These plans pay for various costs not covered by Medicare, such as copayments and the Part A deductible. Part A does require a deductible for hospital stays, but Part B does not fully cover routine doctor visits (other than a one-time "Welcome to Medicare" wellness visit and one annual wellness visit.
Which of the following statements are true as to Supplemental Security Income (SSI) benefits? 1. Supplemental Security Income makes monthly payments to individuals with low income and few assets. 2. The basic monthly benefit for Supplemental Security Income in 2020 is $783.00 for one person and $1,175 for married couples. 3. The asset determination for Supplemental Security Income eligibility does not include the value of one's home or car. 4. The definition of disability is satisfied when the individual is unable to engage in any substantial gainful activity due to a physical or mental problem expected to last at least three years or expected to result in death.
1, 2, and 3. All of the statements are true except statement 4. Statement 4 is in reference to Social Security Disability Income (SSDI), and would be correct (for SSDI) if the disability was expected to last at least one year, not three years as provided.
Betty Sue, age 75, is a widow with no close relatives. She is very ill, unable to walk, and confined to a custodial nursing home. Which of the following programs is likely to pay benefits towards the cost of the nursing home? 1. Medicare may pay for up to 80 additional days of care after a 20-day deductible. 2. Medicaid may pay if the client has income and assets below state-mandated thresholds.
2 only Statement 1 is incorrect because Medicare covers all costs for the first 20 days of skilled nursing home care and covers the next 80 days with a deductible, provided that the nursing home stay occurs after at least a 3-day inpatient hospital stay.
Rochelle worked hard throughout her life and saved enough assets to allow her to delay retirement under Social Security such that, rather than receiving the $2,200 PIA amount at her full retirement age, she was able to receive $2,904 due to delayed retirement credits. Rocehelle died this year and her spouse, who has reached full retirement age and is receiving a benefit of $2100 based on his own work record, would like to know the amount of Social Security he will now receive. Which is the correct amount?
2,904
Amanda owns a home with a $400,000 replacement value. This January, a snowstorm causes $75,000 in damages to the home. Amanda has an insurance policy with 80% coinsurance and a $1,000 deductible. How much will the insurer pay if Amanda carries $300,000 of coverage?
69,312.50
Generally, how long does a fraud alert last?
90 days
Kathryn taught at Fun Academic University for 25 years and is filing for Social Security retirement benefits this year, when she turns age 72. Her PIA is $1,000 per month as adjusted for inflation. How much in benefits will she receive assuming her full retirement age was 66? A)$1,320. B)$1,360. C)$1,480. D)$1,587.
A)$1,320. Delayed benefits will increase at 8% per year of delay up until age 70. Therefore, her benefit will be 32% higher than her PIA. She has no increase for delaying beyond age 70 and the 8% increase is not compounded.
Which of the following statements regarding loss frequency is true? 1. Loss frequency is the expected number of losses that will occur within a given period. 2. Loss frequency is the potential size or damage of a loss. A)1 only. B)2 only. C)Both 1 and 2. D)Neither 1 nor 2.
A)1 only.
Medicare Part A provides hospital coverage. Which of the following persons is not covered under Part A? A)A person 62 or older and receiving railroad retirement. B)Disabled beneficiaries regardless of age that have received Social Security for two years. C)Chronic kidney patients who require dialysis or a renal transplant. D)A person 65 or older entitled to a monthly Social Security check.
A)A person 62 or older and receiving railroad retirement. Medicare Part A requires a person to be age 65. People who are disabled or have permanent kidney failure are entitled to Medicare at any age.
The principle of indemnity requires that: A)A person is entitled to compensation only to the extent that financial loss has been suffered. B)Insured cannot indemnify himself from both the insurance company and a negligent third party for the same claim. C)The insured must be subject to emotional or financial hardship resulting from the loss. D)The insured and insurer must both be forthcoming with all relevant facts about the insured risk and coverage provided for that risk.
A)A person is entitled to compensation only to the extent that financial loss has been suffered.
When must an insurable interest exist for a property insurance claim? A)At the policy inception and time of loss. B)At the policy inception only. C)At the time of the loss. D)Either at the policy inception or at the time of the loss.
A)At the policy inception and time of loss.
All of the following statements concerning Social Security benefits are correct except: A)In order to obtain SSI benefits, an individual must be age 65 or older and must be disabled. B)The number of days that Medicare covers care in hospitals and skilled nursing facilities is measured in what is termed benefit periods. C)The definition of disability is that the individual is unable to engage in any substantial gainful activity due to a physical or mental problem expected to last at least a year or expected to result in death. D)Benefits are payable at any age to workers who have enough Social Security credits and who have a severe physical or mental impairment that is expected to prevent them from doing "substantial" work for a year or more or who have a condition that is expected to result in death.
A)In order to obtain SSI benefits, an individual must be age 65 or older and must be disabled. In order to obtain SSI benefits, an individual must either be age 65 or older OR must be disabled.
Which of the following are correct? A)Surviving spouses are entitled to 100 percent of the worker's benefit amount after the worker dies. B)Divorced spouses can also claim benefits based on their ex-spouse's record if they were married 8 years or longer. C)For someone to delay benefits until age 70 based solely on payback or breakeven, the person would have to live to at least age 92, without considering the time value of money. D)All of the above are false.
A)Surviving spouses are entitled to 100 percent of the worker's benefit amount after the worker dies. Option b is wrong because spouses have to be married 10 years, not 8. Option c is wrong because the age is closer to 82, not 92.
Antoine immigrated from Italy last century, became a citizen and has worked the better part of his life in the United States, for which he is truly thankful. His full retirement age for Social Security benefits is age 66, but after a hard life working he wants to retire at age 63 and travel in America and back to his homeland. After contacting the Social Security administration, they informed him that his benefit at age 63 would be $1,200 per month. Just prior to retiring, he sold his business for $100,000. Which of the following statements is correct? A)The sale of the business will not impact the amount of his retirement benefits from Social Security. B)The sale of the business will cause his benefits to be reduced by $1 for every $2 over the annual limit. C)The sale of the business will definitely increase the portion of his Social Security benefits that are subject to income tax. D)The sale of the business may cause him to pay a higher Medicare Part B premium in the year of the sale due to his higher income.
A)The sale of the business will not impact the amount of his retirement benefits from Social Security.
Which of the following statements regarding identity theft is correct? A)The victim knew the source of identity theft in approximately 1/4 of the cases. B)The most common source is breach of computer data. C)The most common source is from shoulder surfing. D)Lost or stolen Social Security numbers are the most likely information to lead to fraud.
A)The victim knew the source of identity theft in approximately 1/4 of the cases.
Cam just learned that he is a victim of identity theft. What should he do to minimize the damage?
All of the above Place a fraud alert with the credit reporting agencies Request credit report from each of the principal credit reporting agencies Contact all of his creditors and financial institutions
All of the following statements regarding insurance policies are correct EXCEPT:
An endorsement is a modification or change to a life or health insurance policy
Donna owns a house with a replacement cost of $500,000. She purchases $300,000 of insurance with a coinsurance requirement of 80% and a $500 deductible. If Donna's house is hit by a hurricane and she suffers a $150,000 loss, what will the insurer pay? A)$74,500. B)$112,000. C)$119,500. D)$149,500.
B)$112,000.
Antoine immigrated from Italy last century, became a citizen and has worked the better part of his life in the United States, for which he is truly thankful. His full retirement age (normal retirement age) for Social Security benefits is age 66, but after a hard life working he wants to retire at age 63 and travel throughout America and back to his homeland. If his benefit at age 66 is $1,000 per month, how much will he receive in Social Security retirement benefits if he begins receiving benefits at age 63? A)$700.00. B)$800.00. C)$812.50. D)$1,000.00. The same benefit, he will simply not receive it for as long.
B)$800.00. The benefit reduction for early retirement is 5/9ths of 1% for the first 36 months. If Antoine retires 3 years early at age 63, then his retirement benefit will be reduced by 20% to $800 per month.
Which of the following statements regarding loss severity is true? 1. Loss severity is the expected number of losses that will occur within a given period. 2. Loss severity is the potential size or damage of a loss. A)1 only. B)2 only. C)Both 1 and 2. D)Neither 1 nor 2.
B)2 only.
Which of the following is correct regarding a peril and hazard? A)A hazard is the proximate or actual cause of a loss. B)A peril is the proximate or actual cause of a loss. C)A peril is the condition that creates or increases the likelihood of a loss occurring. D)None of the above.
B)A peril is the proximate or actual cause of a loss.
Which of the following concerning the Social Security system is correct? A)Workers entitled to retirement benefits can currently take early retirement benefits as early as age 59. B)A worker who takes early retirement benefits will receive a reduced benefit because he will receive more monthly benefit payments as payments commence earlier than if the worker had waited and retired at full retirement age. C)Family members of an individual who are eligible for retirement or disability benefits include a spouse if the spouse is at least 59 years old or under 59 but caring for a child under age 16. D)Generally, individuals who are over the age of 62 and receive Social Security benefits automatically qualify for Medicare benefits.
B)A worker who takes early retirement benefits will receive a reduced benefit because he will receive more monthly benefit payments as payments commence earlier than if the worker had waited and retired at full retirement age.
Credit cards, debit cards, and charge cards are: A)All different as to liability exposure. B)All different as to required payment period. C)All have pre-established limits. D)All have annual fees.
B)All different as to required payment period. RationaleCredit cards can pay over time, debit cards pay immediately, and charge cards pay monthly.
Cate is an inquisitive person and wants an explanation of the legal characteristics of an insurance contract. All of the following statements are correct, EXCEPT: A)An insurance contract is a contract of adhesion where the insured accepts the contract as written. B)An insurance contract is aleatory in the sense that equal monetary values are exchanged. C)An insurance contract is unilateral, where only one party agrees to a legally enforceable promise. D)An insurance contract is conditional in terms of claim payment if certain conditions are met by the insured.
B)An insurance contract is aleatory in the sense that equal monetary values are exchanged.
When must an insurable interest exist for a life insurance claim? A)At the policy inception and time of loss. B)At the policy inception only. C)At the time of the loss only. D)Either at the policy inception or at the time of the loss.
B)At the policy inception only.
The TransUnion automobile insurance score uses all of the following except: A)Credit payment history. B)Driving record. C)Credit utilization percent. D)The number of credit accounts.
B)Driving record.
Which of the following likely has the highest credit score? A)Forrest has five credit cards, credit utilization of 40%, and a perfect payment history for five years. B)George has three credit cards, credit utilization of 29%, an installment loan, a mortgage, and a perfect payment history for three years. C)Connor has two credit cards totaling a $50,000 limit. D)Floyd has a 30-year mortgage in the 10th year with a perfect payment history and the mortgage is his only debt.
B)George has three credit cards, credit utilization of 29%, an installment loan, a mortgage, and a perfect payment history for three years.
All of the following statements concerning Social Security benefits are correct except: A)The maximum family benefit is determined through a formula based on the worker's PIA. B)If a worker applies for retirement or survivors' benefits before his 65th birthday, he must also file a separate application for Medicare. C)People who are disabled or have permanent kidney failure can get Medicare at any age. D)The Social Security Administration is concerned with beneficiaries' combined income, which, on the 1040 federal tax return, includes adjusted gross income and nontaxable interest income.
B)If a worker applies for retirement or survivors' benefits before his 65th birthday, he must also file a separate application for Medicare. If a worker applies for retirement or survivors' benefits before his or her 65th birthday, there is no need to file a separate application for Medicare.
Joe walks into his insurance agent's office and notices his agent's name on a business card and the insurer's name on letterhead. If an agency agreement exists, what type of authority does Joe believe his agent has to enter into an insurance contract? A)Express Authority. B)Implied Authority. C)Apparent Authority. D)None of the Above.
B)Implied Authority.
A subrogation clause means that: A)A person is entitled to compensation only to the extent that financial loss has been suffered. B)Insured cannot indemnify himself from both the insurance company and a negligent third party for the same claim. C)The insured must be subject to emotional or financial hardship resulting from the loss. D)The insured and insurer must both be forthcoming with all relevant facts about the insured risk and coverage provided for that risk.
B)Insured cannot indemnify himself from both the insurance company and a negligent third party for the same claim.
All of the following are major credit reporting agencies except: A)Equifax. B)Pan American. C)Experian. D)TransUnion.
B)Pan American.
Raymond is turning 65 years of age and has been receiving Social Security benefits. Which of the following statements concerning his eligibility for Medicare benefits is correct? A)Raymond can sign up for Part A without Part B, but he cannot sign up for Part B later. B)Raymond will be enrolled automatically in Parts A and B. C)If Raymond signs up for Part B later, the premium will be the same as at age 65. D)If Raymond declines Part A and Part B, he will be able to sign up at any time after age 65.
B)Raymond will be enrolled automatically in Parts A and B. A person who is already receiving Social Security benefits when they reach age 65 will be automatically enrolled for Medicare unless they sign a form electing not to be covered. If a person enrolls in Part A, the person can enroll later in Part B, but only during specified periods each year. If a person enrolls during one of the general enrollment periods (January to March each year), coverage will become effective in July of that year. The premiums will increase for delayed enrollment.
Insurance regulation is primarily conducted by? A)The Securities and Exchange Commission. B)The State Insurance Commissioner. C)The Federal Insurance Commission. D)The FDIC.
B)The State Insurance Commissioner.
Part B of Medicare is considered to be supplemental insurance and provides additional coverage to participants. Which of the following is true regarding Part B coverage? A)The election to participate must be made at the time the insured is eligible for Part A Medicare and at no time after. B)The premiums for Part B are paid monthly through withholding from Social Security benefits. C)Once a participant elects Part B, he must maintain the coverage until death. D)Coverage under Part B does not include deductibles or coinsurance.
B)The premiums for Part B are paid monthly through withholding from Social Security benefits. Option a is incorrect because participation can occur after the initial eligibility. Participation is not required to be maintained for life, and Part B does have deductibles and/or coinsurance.
Why are auto loans generally the easiest loans to get? A)Due to consumer protection. B)There is usually a down payment, and an auto loan is secured. C)An auto loan only requires a minimum credit score. D)Automobiles are easy to repossess due to GPS being placed in all cars with loans.
B)There is usually a down payment, and an auto loan is secured.
How are Social Security retirement benefits taxed?
Based on the individual or couple's MAGI and half of their Social Security benefits.
Which of the following statements is/are correct regarding insurance contracts? I. The principle of insurable interest is closely aligned with the principle of indemnity, which both limit the insured from experiencing a gain using insurance. II. A subrogation clause in an insurance policy requires that the insured relinquish a claim against a negligent third party if the insurer has already indemnified the insured.
Both I and II
The Social Security tax on payroll is a matching tax, meaning that:
Both workers and their employers pay the SS tax based on the worker's earnings
A creditor makes a hard inquiry to a persons credit report. How long does the hard inquiry affect the FICO score? A)3 months. B)6 months. C)12 months. D)24 months.
C)12 months. Stays on the report for 2 yrs, but only negatively affects for 1 yr.
What is the likely amount of time it will take a 720 score to recover from a 30-day late payment on a mortgage? A)6 months. B)1 year. C)2.5 years. D)7 years.
C)2.5 years.
The auto credit score is? A)The same as the auto insurance score. B)Calculated the same way as FICO. C)Calculated by FICO. D)Only used by 25 - 50% of auto lenders.
C)Calculated by FICO. RationaleThe auto credit score is calculated by FICO and is used by 90% of auto lenders.
When the insured is silent to a fact that is material to the risk being insured, what has occurred? A)Breach of Warranty. B)Misrepresentation. C)Concealment. D)Breach of Indemnity.
C)Concealment.
Mabel is applying for life insurance, with her two children as the beneficiary. Mabel has always been told she looks young for her age and although she is 58, she stated that she is 28 on her life insurance application. What would the insurer be most likely to do if Mabel's beneficiaries attempt to collect on the life insurance policy? A)Void the policy. B)Require payment on premiums for a 58 year old insured. C)Recalculate the face value of the policy based on actual premiums paid. D)Bring a lawsuit against the estate.
C)Recalculate the face value of the policy based on actual premiums paid.
Social Security is funded through all of the following except: A)Employee payroll tax. B)Employer payroll tax. C)Sales tax. D)Self-employment tax.
C)Sales tax.
Which of the following is incorrect about credit freezes and extended fraud alerts? A)A credit freeze stops all access to the credit report. B)An extended fraud alert allows the consumer two free credit reports within 12 months from each of the reporting agencies. C)The extended alert lasts 24 continuous months. D)Some states charge a fee for placing a credit freeze.
C)The extended alert lasts 24 continuous months. The extended fraud alert lasts 7 years.
Which of the following statements regarding the characteristics of an insurance contract is false? A)They are a contract of adhesion, which means the insured must accept it or leave it. B)They are aleatory contracts, which means amounts exchanged may be unequal. C)They are unilateral, meaning there is only one promise, which is a promise by the insured to pay the premium. D)The contracts are conditional, which means the terms are under the condition that premiums are paid.
C)They are unilateral, meaning there is only one promise, which is a promise by the insured to pay the premium.
The two most well-known credit scores are? A)FICO and Auto. B)Auto and Vantage. C)Vantage and FICO. D)FICO and Rico.
C)Vantage and FICO.
Ross must pay the full balance on his credit card every month. What type of card does he have?
Charge card
Which of the following is not an advantage of a credit card?
Credit cards generally have higher interest rates than other sources of credit
A creditor makes a hard inquiry to a person's credit report. How long is the hard inquiry reported on the credit report for FICO score purposes? A)No effect. B)6 months. C)18 months. D)24 months.
D)24 months.
An extended fraud alert lasts? A)90 days. B)180 days. C)24 months. D)7 years.
D)7 years.
Brisco, now deceased, was married for 12 years. He had two dependent children, ages 10 and 12, who are cared for by their mother age 48. Brisco's mother, age 75, was his dependent and survived him. At the time of his death, he was currently but not fully insured under Social Security. His dependents are entitled to all of the following benefits except: A)A lump-sum death benefit of $255. B)A children's benefit equal to 75% of Brisco's PIA. C)A caretaker's benefit for the children's mother. D)A parent's benefit.
D)A parent's benefit. A lump-sum death benefit of $255 is payable to the surviving spouse or children of the deceased worker if he was fully or currently insured. The children's benefit is payable because Brisco was either currently or fully insured. It is 75% of his PIA. The children's mother would be entitled to a benefit for caring for the children under the age of 16. His dependent mother is only entitled to a benefit if he was fully insured, not currently insured.
All of the following statements concerning the Social Security system are correct except: A)If a worker receives retirement benefits based on his own earnings record, the worker's retirement benefits will continue whether married or divorced. B)Widows and widowers, whether divorced or not, will continue to receive survivors' benefits upon remarriage if the widow or widower is age 60 or older. C)By providing the name of a country or countries to be visited and the expected departure and return dates, the Social Security Administration will send special reporting instructions to the beneficiaries and arrange for delivery of checks while abroad. D)A special one-time payment of $1,000 may be made to a deceased worker's spouse or minor children upon death.
D)A special one-time payment of $1,000 may be made to a deceased worker's spouse or minor children upon death. A special one-time payment of $255 may be made to a deceased worker's spouse or minor children upon death.
The risk that individuals of higher than average risk will seek out or purchase insurance policies is called? A)Peril. B)Hazard. C)Law of Large Numbers. D)Adverse Selection.
D)Adverse Selection.
A)Antoine should delay receiving Social Security retirement benefits until after this year because he will be in a high tax bracket due to the sale of his business. B)Antoine should delay receiving Social Security retirement benefits until after this year because there will be such a large reduction in benefits due to his consulting income and the sale of the business. C)Antoine should begin receiving Social Security benefits today because, although there is a reduction in benefits today, there will be an increase after full retirement age. D)Antoine would be better off beginning Social Security benefits next year.
D)Antoine would be better off beginning Social Security benefits next year.
Credit agencies do not collect any of the following information for credit report except: A)Home ownership. B)Employment information. C)Bank accounts with over withdrawals. D)Child support payments in arrears.
D)Child support payments in arrears.
Which of the following is probably the most important single criterion a financial planner should use in selecting an insurer? A)Size of the company. B)Cost of the premiums. C)Brand name recognition. D)Financial strength.
D)Financial strength.
Robin Elizabeth qualifies for a retirement benefit of $250 and a spouse's benefit of $400. At her full retirement age, she will receive which of the following? A)Both $250 and $400. B)The higher of her benefit or her spouse's benefit. C)Her spouse's benefit of $400. D)Her benefit of $250 plus $150 from her spouse's benefit.
D)Her benefit of $250 plus $150 from her spouse's benefit.
For which of the following loss exposures is the insurance technique most suited, based on loss frequency and loss severity? A)Breakage of eyeglasses. B)Losses of a grocery store owner due to shoplifters stealing candy bars. C)Burning out of household light bulbs. D)Legal liability for bodily injury in an auto accident.
D)Legal liability for bodily injury in an auto accident.
What type of hazard results from the indifference that a person has to the potential loss because he or she has insurance? A)Peril. B)Physical Hazard. C)Moral Hazard. D)Morale Hazard.
D)Morale Hazard.
Which of the following is the acronym recommended by the U.S. Justice Department to avoid identity theft? A)SCRAM. B)SNAG. C)SHAKE. D)SCAM.
D)SCAM.
A person receiving Social Security benefits under full retirement age can receive earned income up to a maximum threshold without reducing Social Security benefits by the earnings test. Which of the following count against the earnings threshold? A)Dividends from stocks. B)Rental income. C)Pensions and insurance annuities. D)Self-employment income.
D)Self-employment income. Earnings that count against the earnings threshold include W-2 wages and net self-employment income. All the others are not earned income for Social Security purposes.
Credit agencies do not collect any of the following information for credit reports except: A)Employment information. B)Age of borrower. C)Amount of alimony paid. D)Tax lien.
D)Tax lien.
Which of the following is not a requisite for an insurable risk? A)A large number of homogeneous exposure units must exist. B)Insured losses must be accidental. C)Insured losses must be measurable and determinable. D)The loss must not pose a catastrophic risk for the insured.
D)The loss must not pose a catastrophic risk for the insured.
The section of a insurance contract that describes exactly which property or person is being covered is the:
Declarations section
A worker's AIME: A)Must be determined by converting actual earnings into current dollars through an indexing factor. B)Is determined from wage information over prior years' work. C)Uses the highest 35 years of indexed earnings (for workers that worked at least that long). D)Yields an average amount of monthly earnings for all indexed years. E)All of the above.
E)All of the above.
What law provides that U.S. citizens have free access to their credit scores?
Fair Credit Reporting Act
Which of the following is an example of a secured loan?
Home mortgage
Which of the following concerning the Social Security earnings test is correct?
It applies only to workers between 62 and normal retirement age.
Which of the following individuals most likely has the highest credit scores?
Kelly has 2 credit cards, credit utilization of 15%, an installment loan, a mortgage, and a perfect payment history for 3 years.
Barb has a credit score of 650. She wants to improve her credit score before buying a house. What can she do to improve her credit score?
Make consistent, timely payments
Which of the following is an available combination of Medicare and Medigap insurance?
Medicare Parts A, B, D, and Medigap
Mehul recently turned age 65 and enrolled in Medicare. His spouse is age 62 and has never worked or paid Medicare taxes. Which of the following is true regarding Medicare for Mehul's spouse?
Mehul's spouse can enroll for Medicare at age 65.
Which of the following is a risk reduction technique?
Parking your car at the end of the parking lot, away from other cars
Which of the following statements regarding risk is incorrect?
Particular risk is a risk that will impact a large group of individuals simultaneously
The immediate cause and reason for a loss occurring, such as a hurricane, is referred to as a:
Peril
Which type of hazard results from a physical condition that increases the likelihood of a loss occurring?
Physical hazard
The U.S. Department of Justice uses what acronym to assist the public in avoiding identity theft?
SCAM
The FICO score calculation includes all of the following except
Salary increases
Premium rates set by insurance companies are regulated at which level of government?
State
To qualify for Social Security Disability Income benefits, which of the following rules applies?
The disability must be expected to last at least 12 months or result in death
Jack and Diane are married. Upon Jack's death, and assuming they have been married long enough to qualify, which of the following Social Security benefits will Diane continue to receive?
The higher of either benefit but not both
To determine Social Security retirement benefit, the SS Administration considers the amoutn of money the worker earned over what time frame?
The highest earning 35 years.
If a worker has employment earnings after starting full Social Security retirement benefits, which of the following is correct?
There is no reduction in Social Security benefits
Which of the following is not an element of the Principle of Utmost Good Faith?
Waiver
Which of the following statements are true for the PIA of individuals who first become eligible for retirement benefits in 2020? 1. Their PIA is 90% of the first $960 of their AIME, plus other amounts. 2. Their PIA is 32% of their AIME over $960 up to $5,785, plus other amounts. 3. Their PIA is 15% of their AIME that exceeds $5,785, plus other amounts.
all of these
