Question 1

All of the following persons are eligible for survivor benefits under Social Security EXCEPT

Accepted Answer

Unmarried children between the ages of 18 and 22 who are attending college are only eligible for survivor benefits if the deceased worker had enough Social Security credits.

Question 2

In addition to most persons over age 65,which of the following persons is (are)eligible for Medicare benefits?
I.Persons under age 65 who have been entitled to Social Security disability benefits for at least 24 months
II.Persons under 65 who need long-term kidney dialysis treatment or a kidney transplant

Accepted Answer

Both persons under age 65 who have been entitled to Social Security disability benefits for at least 24 months and persons under 65 who need long-term kidney dialysis treatment or a kidney transplant are eligible for Medicare benefits.

Question 3

As of this year,Brad,age 50,has 40 credits under the Social Security program.These credits were all earned in the last 10 years.What is Brad's insured status under the program?

Accepted Answer

To be fully insured under the Social Security program, a person needs to have earned 40 credits, which Brad has achieved. The timing of when these credits were earned (in the last 10 years) does not affect his fully insured status. Being fully insured also means he is currently insured.

Question 4

Which of the following statements is (are)true with respect to the Social Security earnings test?
I.The earnings test does not apply to dividends,interest,and rental income.
II.The earnings test does not apply to work earnings for those individuals who have reached the full retirement age under Social Security.

Accepted Answer

The Social Security earnings test applies only to earned income, such as wages or self-employment income, not to investment income like dividends, interest, and rental income. Additionally, the earnings test does not apply to individuals who have reached their full retirement age, allowing them to earn any amount without reducing their Social Security benefits.

Question 5

Which of the following statements about participation in the Social Security program is (are)true?
I.Most private sector employees are covered under the Social Security program.
II.Each employee has the right to "opt out" of the Social Security program if the employee does not wish to participate in the program.

Accepted Answer

Most private sector employees are required to participate in the Social Security program and do not have the option to opt out. However, certain groups such as government workers and certain religious-affiliated groups may have alternative retirement programs and may not participate in Social Security. Therefore, statement II is not true for most private sector employees.

Question 6

Which of the following statements about a worker's primary insurance amount is (are)true?
I.It is the monthly amount paid to a worker who elects early retirement at age 62.
II.It is equal to 50 percent of the worker's final average pay that was subject to Social Security taxes.

Accepted Answer

The primary insurance amount (PIA) is the benefit (before any adjustments for age) a person would receive if they elect to begin receiving retirement benefits at their normal retirement age. It is calculated based on the worker's 35 highest-earning years adjusted for inflation, not as a flat 50% of final average pay. Electing early retirement at age 62 results in a reduced benefit, not the full PIA.

Question 7

Which of the following statements about the Social Security cost-of-living adjustment is (are)true?
I.The amount of the adjustment is limited to a maximum of 2.5 percent annually.
II.Increases are based on changes in the consumer price index.

Accepted Answer

The answer of Which of the following statements about the...

Question 8

One insured status under Social Security requires you to have earned at least six credits duing the last 13 calendar quarters ending with the quarter of death,disability,or entitlement to retirement benefits.This insured status is

Accepted Answer

Currently insured status requires earning at least six credits during the last 13 calendar quarters before the event.

Question 9

All of the following persons are eligible for a benefit under the retirement portion of the Social Security program EXCEPT

Accepted Answer

A divorced spouse must have been married to the retired worker for at least 10 years to be eligible for benefits under the retirement portion of the Social Security program.

Question 10

Which of the following statements about hospice benefits under the hospital insurance (Part A.portion of Medicare is (are)true? I.Hospice benefits are payable only while the beneficiary is hospitalized.
II.Hospice benefits are provided to persons who are terminally ill.

Accepted Answer

Hospice benefits are provided to persons who are terminally ill, not just those who are currently hospitalized. Hospice care is meant to provide comfort and support to individuals with a terminal illness who have a life expectancy of 6 months or less. This care may take place in a variety of settings, including the individual's home or a hospice facility.

Question 11

Which of the following statements about the coverage of health care services under Part A of Medicare is (are)true?
I.Services in the patient's home are covered if the patient requires skilled care and meets certain conditions.
II.Hospice care is available for beneficiaries with a terminal illness.

Accepted Answer

Both statements I and II are true. Part A of Medicare covers skilled care in the patient's home under certain conditions and also provides hospice care for beneficiaries with a terminal illness.

Question 12

Which of the following statements about the full retirement age under the Social Security program is true?

Accepted Answer

Delayed retirement beyond the age for full benefits increases the amount of the monthly benefit. The current full retirement age is age 67, and early retirement with reduced benefits is allowed as early as age 62. There are no plans to increase the retirement age to 72.

Question 13

Which of the following statements about the role of physicians with respect to Medicare claims is (are)true?
I.Physicians who do not accept an assignment of Medicare claims can charge as much as 200 percent of the Medicare-approved fee.
II.Physicians who accept assignment agree to accept the Medicare-approved amount as payment in full.

Accepted Answer

Statement II is true. Physicians who accept assignment agree to accept the Medicare-approved amount as payment in full. Statement I is false. Physicians who do not accept an assignment of Medicare claims can charge up to 15% more than the Medicare-approved fee, not 200 percent.

Question 14

Which of the following expenses is covered under the medical insurance (Part B.portion of the Medicare program?

Accepted Answer

Medicare Part B covers outpatient care, including doctor visits and services like surgeries performed by a surgeon.

Question 15

Which of the following statements about the characteristics of social insurance programs is true?

Accepted Answer

Social insurance programs are designed to provide a floor of income with respect to the risks that are covered. This means that these programs aim to provide a basic level of economic security to individuals and families who may face financial hardship due to certain risks such as disability, unemployment, or old age. The level of benefits provided by social insurance programs may not be sufficient to maintain the same standard of living as before experiencing the risk, but they are intended to reduce the severity of the economic impact.

Question 16

Which of the following statements about the medical insurance (Part B.portion of Medicare is (are)true? I.Participation in Part B of Medicare is voluntary.
II.It is provided at no cost to anyone who is fully insured under Medicare.

Accepted Answer

Participation in Part B of Medicare is voluntary, but it does come at a cost. There are premiums, deductibles, and coinsurance associated with Part B coverage. Therefore, statement II is false.

Question 17

Which of the following statements about the characteristics of social insurance programs is true?

Accepted Answer

Social insurance programs typically link benefits to a worker's earnings history, reflecting the principle of individual equity but also ensuring that benefits are related to the amount paid into the system by or on behalf of the worker. This makes option A correct as it contrasts with the actual characteristic of social insurance programs, where benefits are closely related to a worker's earnings, not loosely. Options B, C, and D are incorrect because benefits are indeed based on individual equity (making B incorrect as it states the opposite), participation is generally mandatory (making C incorrect), and these programs do not need to be fully funded at all times (making D incorrect), as they can operate on a pay-as-you-go basis.

Question 18

Which of the following statements about Medigap policies is (are)true?
I.Insurers are required to have an open enrollment period of 6 months from the date an applicant first enrolls in Medicare Part B and is age 65 or older.
II.Most policies are of limited value because they largely duplicate benefits already provided by Medicare.

Accepted Answer

Statement I is true - insurers are required to have an open enrollment period of 6 months from the date an applicant first enrolls in Medicare Part B and is age 65 or older. Statement II is false - Medigap policies can provide additional coverage beyond what is provided by Medicare, such as covering deductibles, coinsurance, and other out-of-pocket expenses.

Question 19

Which of the following is a reason that social insurance programs exist?

Accepted Answer

Social insurance programs exist to provide a base of economic security for individuals in case of certain life events such as disability, old age, or unemployment. These programs are funded through a combination of employee and employer contributions and aim to ensure that individuals have access to at least a minimum level of protection.

Question 20

Which of the following statements about disability benefits under Social Security is true?

Accepted Answer

Disability benefits can be paid not only to the disabled worker, but also to eligible dependents such as spouses, children, and in some cases, parents. There is a five-month waiting period before benefits are payable, and benefits are payable as long as the disability is expected to last at least 12 months or result in death. There is no requirement that the disability must be related to a condition expected to result in death prior to age 65.

Quiz 18: Social Insurance

All of the following persons are eligible for survivor benefits under Social Security EXCEPT

As of this year,Brad,age 50,has 40 credits under the Social Security program.These credits were all earned in the last 10 years.What is Brad's insured status under the program?

Which of the following statements about a worker's primary insurance amount is (are) true? I.It is the monthly amount paid to a worker who elects early retirement at age 62. II.It is equal to 50 percent of the worker's final average pay that was subject to Social Security taxes.

Which of the following statements about the Social Security cost-of-living adjustment is (are) true? I.The amount of the adjustment is limited to a maximum of 2.5 percent annually. II.Increases are based on changes in the consumer price index.

One insured status under Social Security requires you to have earned at least six credits duing the last 13 calendar quarters ending with the quarter of death,disability,or entitlement to retirement benefits.This insured status is

All of the following persons are eligible for a benefit under the retirement portion of the Social Security program EXCEPT

Which of the following statements about hospice benefits under the hospital insurance (Part A.portion of Medicare is (are) true? I.Hospice benefits are payable only while the beneficiary is hospitalized. II.Hospice benefits are provided to persons who are terminally ill.

Which of the following statements about the coverage of health care services under Part A of Medicare is (are) true? I.Services in the patient's home are covered if the patient requires skilled care and meets certain conditions. II.Hospice care is available for beneficiaries with a terminal illness.

Which of the following statements about the full retirement age under the Social Security program is true?

Which of the following expenses is covered under the medical insurance (Part B.portion of the Medicare program?

Which of the following statements about the characteristics of social insurance programs is true?

Which of the following statements about the medical insurance (Part B.portion of Medicare is (are) true? I.Participation in Part B of Medicare is voluntary. II.It is provided at no cost to anyone who is fully insured under Medicare.

Which of the following statements about the characteristics of social insurance programs is true?

Which of the following is a reason that social insurance programs exist?

Which of the following statements about disability benefits under Social Security is true?