Question 1

Which of the following has increased faster among older people than among younger people (aged 15-64)from the early 1980s to the present?

Accepted Answer

A)  rate of acute illness 
B)  rate of chronic illness 
C)  income 
D)  socio-economic status 
A)  rate of acute illness 
B)  rate of chronic illness 
C)  income 
D)  socio-economic status

Question 2

Which of the following was a characteristic of the first Canadian pension program in 1927?

Accepted Answer

A)  The provinces had to pay the full cost of the program. 
B)  Potential pensioners had to pass a residence requirement and a means test. 
C)  Pensions were available to people 60 years old and over who chose to pay $20 per year into the program. 
D)  The program acted to replace the income of retirees without an alternate source of income. 
A)  The provinces had to pay the full cost of the program. 
B)  Potential pensioners had to pass a residence requirement and a means test. 
C)  Pensions were available to people 60 years old and over who chose to pay $20 per year into the program. 
D)  The program acted to replace the income of retirees without an alternate source of income.

Question 3

What were income security programs designed to do?

Accepted Answer

A)  allow people to remain above the poverty line 
B)  allow people to maintain their pre-retirement income and lifestyle 
C)  allow people to meet their basic needs in retirement 
D)  allow less money to be spent on private pension programs 
A)  allow people to remain above the poverty line 
B)  allow people to maintain their pre-retirement income and lifestyle 
C)  allow people to meet their basic needs in retirement 
D)  allow less money to be spent on private pension programs

Question 4

In 2008,about 12 percent of elderly unattached men and over what percentage of elderly unattached women lived in poverty?

Accepted Answer

A)  7% 
B)  12% 
C)  14% 
D)  17% 
A)  7% 
B)  12% 
C)  14% 
D)  17%

Question 5

Who receives OAS (Old Age Security)?

Accepted Answer

A)  workers who earn over $1,600 per month 
B)  seniors who fall below the poverty line 
C)  nearly all Canadians aged 65 or over 
D)  pensioners who earn less than $1,600 per year 
A)  workers who earn over $1,600 per month 
B)  seniors who fall below the poverty line 
C)  nearly all Canadians aged 65 or over 
D)  pensioners who earn less than $1,600 per year

Question 6

Education and former occupation largely determine income in old age.Which of the following explains this effect?

Accepted Answer

A)  multiple jeopardy theory 
B)  conflict theory (Marxism) 
C)  political economy perspective 
D)  structural-functionalism 
A)  multiple jeopardy theory 
B)  conflict theory (Marxism) 
C)  political economy perspective 
D)  structural-functionalism

Question 7

In order to avoid financial problems in the future,the government has adopted several measures.Which of these measures is among them?

Accepted Answer

A)  raising contribution rates 
B)  investing current surplus funds in the financial markets 
C)  decreasing foreign aid to save money 
D)  refusing to allow immigrants to receive the CPP 
A)  raising contribution rates 
B)  investing current surplus funds in the financial markets 
C)  decreasing foreign aid to save money 
D)  refusing to allow immigrants to receive the CPP

Question 8

In 2012,recipients who received less than the maximum CPP benefits and were living in a large Canadian city experienced which of the following?

Accepted Answer

A)  They made almost 94% of their pre-retirement income. 
B)  They retained only one-third of their GIS payments after taxes. 
C)  They fell below the poverty line. 
D)  They fell within the top 30th percentile in income. 
A)  They made almost 94% of their pre-retirement income. 
B)  They retained only one-third of their GIS payments after taxes. 
C)  They fell below the poverty line. 
D)  They fell within the top 30th percentile in income.

Question 9

What will happen to the average income earner after he or she retires?

Accepted Answer

A)  He or she will experience a significant drop in income. 
B)  He or she will significantly increase his or her income by investing in an RSVP. 
C)  He or she will maintain a stable standard of living by drawing on fixed pensions. 
D)  He or she will rely on indirect subsidies to offset the effects of inflation on savings. 
A)  He or she will experience a significant drop in income. 
B)  He or she will significantly increase his or her income by investing in an RSVP. 
C)  He or she will maintain a stable standard of living by drawing on fixed pensions. 
D)  He or she will rely on indirect subsidies to offset the effects of inflation on savings.

Question 10

Without GIS and ALW benefits,what proportion of all older Canadians would live below the poverty line?

Accepted Answer

A)  almost one-quarter 
B)  almost one-half 
C)  almost one-third 
D)  almost three-quarters 
A)  almost one-quarter 
B)  almost one-half 
C)  almost one-third 
D)  almost three-quarters

Question 11

The Guaranteed Income Supplement program established to supplement Old Age Security was designed to do which of the following?

Accepted Answer

A)  enable older people to live more comfortably 
B)  discourage retirees from re-entering the work force 
C)  help the poorest older people 
D)  remove the burden of caring for older people from the federal government 
A)  enable older people to live more comfortably 
B)  discourage retirees from re-entering the work force 
C)  help the poorest older people 
D)  remove the burden of caring for older people from the federal government

Question 12

What does portability mean as it refers to the CPP?

Accepted Answer

A)  If the pensioner dies, the plan continues to pay to the spouse of the pensioner. 
B)  The plan moves with workers when they change jobs. 
C)  The plan moves with recipients if they leave the country. 
D)  Workers can choose to invest more than the required amount, thereby increasing the benefits they receive at retirement. 
A)  If the pensioner dies, the plan continues to pay to the spouse of the pensioner. 
B)  The plan moves with workers when they change jobs. 
C)  The plan moves with recipients if they leave the country. 
D)  Workers can choose to invest more than the required amount, thereby increasing the benefits they receive at retirement.

Question 13

Why do experts who have studied the occupational pension system express worry about the solvency of these plans?

Accepted Answer

A)  shortened life expectancy 
B)  later retirement 
C)  high interest rates 
D)  lower stock prices 
A)  shortened life expectancy 
B)  later retirement 
C)  high interest rates 
D)  lower stock prices

Question 14

Which of the following statements best describes The Guaranteed Income Supplement (GIS)?

Accepted Answer

A)  It is a federal government transfer that goes to nearly all Canadians aged 65 or over. 
B)  It is a federal government transfer that tries to help people maintain their pre-retirement income level. 
C)  It is a federal government transfer that maintains widows or widowers of former Family Allowance (F
A)  recipients. 
D)  It is a federal government transfer that goes to people with no income other than the Old Age Security (OAS). 
A)  It is a federal government transfer that goes to nearly all Canadians aged 65 or over. 
B)  It is a federal government transfer that tries to help people maintain their pre-retirement income level. 
C)  It is a federal government transfer that maintains widows or widowers of former Family Allowance (F
A)  recipients. 
D)  It is a federal government transfer that goes to people with no income other than the Old Age Security (OAS).

Question 15

Which of the following is a component of the first tier of Canada's pension system?

Accepted Answer

A)  private income/investments/savings 
B)  government transfers 
C)  public and private pension plans 
D)  vested earnings 
A)  private income/investments/savings 
B)  government transfers 
C)  public and private pension plans 
D)  vested earnings

Question 16

The retirement income system most seriously fails for which of the following?

Accepted Answer

A)  the upper-class, who are disproportionately taxed in retirement 
B)  the middle-class, who suffer extreme changes in lifestyle because of differences between pre-retirement and retirement incomes 
C)  women, who have different work patterns than men 
D)  landed immigrants, who contribute to the public pension system, yet receive only partial pensions 
A)  the upper-class, who are disproportionately taxed in retirement 
B)  the middle-class, who suffer extreme changes in lifestyle because of differences between pre-retirement and retirement incomes 
C)  women, who have different work patterns than men 
D)  landed immigrants, who contribute to the public pension system, yet receive only partial pensions

Question 17

By 1999,income from private pensions accounted for what percentage of older Canadians' retirement incomes?

Accepted Answer

A)  6% 
B)  12% 
C)  27% 
D)  29% 
A)  6% 
B)  12% 
C)  27% 
D)  29%

Question 18

Which of the following makes up Tier Two of Canada's retirement income system?

Accepted Answer

A)  the public pension plans (CPP/QPP) 
B)  private income, investments, and savings 
C)  income security programs 
D)  government transfers 
A)  the public pension plans (CPP/QPP) 
B)  private income, investments, and savings 
C)  income security programs 
D)  government transfers

Question 19

Which of the following is one of the three groups of individuals who often live below the poverty line in old age?

Accepted Answer

A)  married couples 
B)  very old people 
C)  high-school drop-outs 
D)  men 
A)  married couples 
B)  very old people 
C)  high-school drop-outs 
D)  men

Question 20

Why are sources of government income a benefit to seniors?

Accepted Answer

A)  Seniors don't have to live with their children 
B)  They have an alternative source of income so that they don't have to make difficult financial choices 
C)  Seniors don't have to borrow money from their children 
D)  In times of economic downturn, seniors can be reassured of money to support themselves 
A)  Seniors don't have to live with their children 
B)  They have an alternative source of income so that they don't have to make difficult financial choices 
C)  Seniors don't have to borrow money from their children 
D)  In times of economic downturn, seniors can be reassured of money to support themselves

Which of the following has increased faster among older people than among younger people (aged 15-64)from the early 1980s to the present?

Which of the following was a characteristic of the first Canadian pension program in 1927?

What were income security programs designed to do?

In 2008,about 12 percent of elderly unattached men and over what percentage of elderly unattached women lived in poverty?

Who receives OAS (Old Age Security)?

Education and former occupation largely determine income in old age.Which of the following explains this effect?

In order to avoid financial problems in the future,the government has adopted several measures.Which of these measures is among them?

In 2012,recipients who received less than the maximum CPP benefits and were living in a large Canadian city experienced which of the following?

What will happen to the average income earner after he or she retires?

Without GIS and ALW benefits,what proportion of all older Canadians would live below the poverty line?

The Guaranteed Income Supplement program established to supplement Old Age Security was designed to do which of the following?

What does portability mean as it refers to the CPP?

Why do experts who have studied the occupational pension system express worry about the solvency of these plans?

Which of the following statements best describes The Guaranteed Income Supplement (GIS)?

Which of the following is a component of the first tier of Canada's pension system?

The retirement income system most seriously fails for which of the following?

By 1999,income from private pensions accounted for what percentage of older Canadians' retirement incomes?

Which of the following makes up Tier Two of Canada's retirement income system?

Which of the following is one of the three groups of individuals who often live below the poverty line in old age?

Why are sources of government income a benefit to seniors?

Aging Today

Theories and Methods

Aging in Canada and the World Today

Aging and Ethnicity

Personal Health and Illness

The Psychology of Aging and the Social Psychology of Aging

Healthcare

Retirement and Work

Leisure, recreation, and Service

Housing and Transportation

Family Life

Social Support

Death, dying, and Bereavement

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Exam 8: Finances and Economics

Which of the following has increased faster among older people than among younger people (aged 15-64)from the early 1980s to the present?

Which of the following was a characteristic of the first Canadian pension program in 1927?

What were income security programs designed to do?

In 2008,about 12 percent of elderly unattached men and over what percentage of elderly unattached women lived in poverty?

Who receives OAS (Old Age Security)?

Education and former occupation largely determine income in old age.Which of the following explains this effect?

In order to avoid financial problems in the future,the government has adopted several measures.Which of these measures is among them?

In 2012,recipients who received less than the maximum CPP benefits and were living in a large Canadian city experienced which of the following?

What will happen to the average income earner after he or she retires?

Without GIS and ALW benefits,what proportion of all older Canadians would live below the poverty line?

The Guaranteed Income Supplement program established to supplement Old Age Security was designed to do which of the following?

What does portability mean as it refers to the CPP?

Why do experts who have studied the occupational pension system express worry about the solvency of these plans?

Which of the following statements best describes The Guaranteed Income Supplement (GIS)?

Which of the following is a component of the first tier of Canada's pension system?

The retirement income system most seriously fails for which of the following?

By 1999,income from private pensions accounted for what percentage of older Canadians' retirement incomes?

Which of the following makes up Tier Two of Canada's retirement income system?

Which of the following is one of the three groups of individuals who often live below the poverty line in old age?

Why are sources of government income a benefit to seniors?

Aging Today

Theories and Methods

Aging in Canada and the World Today

Aging and Ethnicity

Personal Health and Illness

The Psychology of Aging and the Social Psychology of Aging

Healthcare

Retirement and Work

Leisure, recreation, and Service

Housing and Transportation

Family Life

Social Support

Death, dying, and Bereavement

Filters