Course 9

An insured's status under Social Security can be described as -partially insured -actively insured -fully insured -completely insured

"fully insured". There are two types of insured statuses that qualify individuals for Social Security benefits: fully insured and currently insured. Most Social Security benefits are paid to fully insured individuals.

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

"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 these are true EXCEPT for "worker cannot perform his or her current job, but is actively seeking other employment".

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

"It provides a source of income for a meaningful standard of living during retirement" Social Security enhances, but does not replace, a sound personal insurance plan.

An individual that has 40 quarters of coverage, for Social Security purposes, is considered to be -fully insured -currently insured -PIA insured -partially insured

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

How long is a person expected to be disabled in order to receive Social Security disability benefits? -4 months -6 months -12 months -18 months

"12 months" Social Security disabi lity benefits are paid to persons expected to die or be disabled for AT LEAST 12 months.

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

"6 quarters of coverage during the last 13-quarter period". 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.

Which Social Security status does a worker with 6 quarters of coverage during the last 13-quarter period have? -Partially insured -Fully insured -Currently insured -Not insured

"Currently insured". To be considered "currently insured" you must have 6 quarters of coverage during the last 13-quarter perio

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

"A deceased worker's dependent parents of any age". This is inaccurate. 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

Which statement is NOT true regarding Social Security benefits? -Benefit eligibility is based upon fully insured status -Benefits are designed to replace the entire amount of the worker's earnings -Disability is expected to continue for 12 months or result in death -Worker must be totally and permanently disabled for at least 5 months and unable to work again to be eligible for benefits

"Benefits are designed to replace the entire amount of the worker's earnings". Social Security Disability benefits are NOT designed to replace 1 00% of the worker's earnings. Benefits are based on the worker's Primary Insurance Amount (PIA) and paid as a percentage of the worker's PIA.

Who is eligible for retirement benefits under Social Security? -Fully insured workers -Currently insured workers -Partially insured workers -All disabled workers

"Fully insured workers" Social Security retirement benefits are only available to covered workers who are fully insured upon retirement.

Which type of worker has Social Security benefits available to them? -Fully insured -Currently insured -Partially insured -Presently insured

"Fully insured" Benefits under Social Security are available only for workers who are fully insured

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

"protect certain vulnerable segments of the population". The reason for social insurance is to protect certain vulnerable segments of the population.

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

"Year in which worker was born" The Social Security normal retirement age depends upon the worker's year of birth.

The period in which there are no Social Security benefits for the surviving spouse is called the -blackout period -elimination period -ineligible period -dependency period

"blackout period" The blackout period begins when the youngest child turns 16 and continues until the spouse reaches age 60, at the earliest. If there are no eligible children with the surviving spouse when the breadwinner dies, the blackout period starts immediately.

How long must an individual be unable to engage in any gainful activity due to physical or mental disability in order to qualify for Social Security Total Disability? -3 months -6 months -12 months -18 months

"12 months". To qualify, the disability must be expected to last, or have lasted, at least 12 months, or it must be expected to result in death.

At what age is a surviving spouse without dependents eligible for Social Security survivor benefits? -50 -60 -62 -65

"60" Reduced widow or widower benefits can be received as early as age 60.

The "blackout period" affects whose benefits? -Employer -Disabled worker -Surviving spouse -Surviving children

"Surviving spouse". 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 widow or widower with dependent children will receive survivor benefits until the youngest child reaches age 16 unless the child is disabled.

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

"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).

According to Social Security, an individual with 6 credits of coverage during the previous 13-quarter period is considered to be: -partially insured -currently insured -fully insured -not insured

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