Exam 18: Social Insurance

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?

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

One type of Medicare Advantage Plans provides focused care for a specific group of people, such as diabetics and nursing home residents. This type of Medicare Advantage Plan is a

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 workers compensation programs is true?

Which of the following statements regarding the Emergency Unemployment Compensation (EUC) program is true?

Which of the following statements about unemployment insurance benefits is true?

Dale, age 65, was dismayed to learn about all of the deductibles, co-pays, limits, and exclusions in the Medicare program. Dale bought a type of health insurance specifically designed to supplement Medicare, and selected his coverage from among 10 standard policies that private insurers offer. What type of health insurance did Dale purchase?

Frank is doing some life insurance planning. A financial advisor said, "be sure to consider Social Security when examining sources of funds available for family support if you die." The financial advisor was referring to which Social Security benefit?

Which of the following statements about taxation of Social Security retirement benefits under federal law is (are) true? I.Social Security retirement benefits are never considered taxable income. II.Up to 85 percent of Social Security retirement benefits may be considered taxable income, depending on the amount of other income received by the beneficiary.

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.

Marco, a risk manager in California, is interviewing for a new position in the state of Washington. When Marco asked about methods of providing workers compensation, the answer surprised him. In Washington, employers can self-insure the risk or obtain coverage through a state fund. Private insurers do not market workers compensation insurance in Washington. Washington uses a

Which of the following would help to reduce the long-range OASDI actuarial deficit?

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

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.

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

All of the following statements about the Medicare Prescription Drug Plan are true EXCEPT

Which of the following statements concerning Medicare Prescription Drug Plans is (are) true? I.The monthly premium is based on the health status of the beneficiary and the number of prescriptions the beneficiary needs. II.After the beneficiary has paid an initial deductible, Medicare pays the entire cost of all prescription drugs the beneficiary needs.

Which of the following statements about the financing of the Social Security program is (are) true? I.Although the self-employed pay an OASDI tax rate that is twice the employee rate, they are allowed certain deductions that reduce the effective tax rate. II.The earnings base on which OASDI taxes are paid increases annually based on changes in average wages in the national economy.

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.