Question 1

An employee's average indexed monthly earnings determines the initial primary insurance amount for OASDI benefits. (Determining Benefit Amounts)

Accepted Answer

A) True 
 B)False

Question 2

The supplemental insurance benefit (SUB)is used to extend disability benefits. (Unemployment Insurance Benefit Amounts)

Accepted Answer

A) True 
 B)False

Question 3

Which of the following are not covered by Medicare Part B? (Medicare Part B Coverage)

Accepted Answer

A) Outpatient care 
B) Hospitalization 
C) Laboratory services 
D) Health screenings 
A) Outpatient care 
B) Hospitalization 
C) Laboratory services 
D) Health screenings

Question 4

In 2012,what was the annual monthly benefit for all retired workers? (Retirement Benefit Amount Determination)

Accepted Answer

A) $855 
B) $1,000 
C) $1,229 
D) $1,754 
A) $855 
B) $1,000 
C) $1,229 
D) $1,754

Question 5

Briefly discuss the eligibility criteria for unemployment insurance benefits? (Eligibility Criteria for Unemployment Insurance Benefits)

Accepted Answer

Main Points
-Limited voluntary employmen

Question 6

OASDI taxes are subject to a taxable wage base.What was the taxable wage base for everyone in 2012? (OASDI Programs)

Accepted Answer

A) $80,100 
B) $110,100 
C) $120,100 
D) $140,100 
A) $80,100 
B) $110,100 
C) $120,100 
D) $140,100

Question 7

Physicians' fees and custodial care in a nursing home are covered by Medicare Part
A.(Medicare Part A Coverage)

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is not one of the factors believed to have hastened the deterioration of the OASDI and Medicare trust funds? (Financial Status of the OASDI and Medicare Programs)

Accepted Answer

A) longer life expectancy 
B) increased insurance claims 
C) high levels of unemployment 
D) immigration 
A) longer life expectancy 
B) increased insurance claims 
C) high levels of unemployment 
D) immigration

Question 9

Medicare Part B covers the services not included under Medicare Past
A.(Medicare Part B Coverage)

Accepted Answer

A) True 
 B)False

Question 10

In 2009,6.2% of employer and employee contributions were set aside from FICA to fund OASDI programs. (OASDI Programs)

Accepted Answer

A) True 
 B)False

Question 11

The employee and self-employed tax rates were each temporarily reduced by 2 percent for the 2012 calendar year. (OASDI Programs)

Accepted Answer

A) True 
 B)False

Question 12

Only restricted groups of workers are eligible for OASDI and Medicare protection. (OASDI and Medicare)

Accepted Answer

A) True 
 B)False

Question 13

Medicare Part D was first offered in 2004. (Medicare Prescription Drug Benefit)

Accepted Answer

A) True 
 B)False

Question 14

Which Medicare program provides beneficiaries the opportunity to receive health care from a variety of options? (Medicare Part C: Medicare Advantage)

Accepted Answer

A) Medicare Advantage 
B) Medigap 
C) Medicare Part C 
D) Medicare Select 
A) Medicare Advantage 
B) Medigap 
C) Medicare Part C 
D) Medicare Select

Question 15

This Medicare program offers voluntary supplemental medical insurance. (Medicare Part B Coverage)

Accepted Answer

A) Medicare Part B 
B) Medicare Part A 
C) Medicare Advantage 
D) Medicare Part C 
A) Medicare Part B 
B) Medicare Part A 
C) Medicare Advantage 
D) Medicare Part C

Question 16

Briefly discuss Medicare Part A coverage. (Medicare Part A Coverage)

Accepted Answer

Main Points
-Compulsory hospitalization

Question 17

Effective 2012,what was the annual increase in Social Security benefits? (Automatic Cost-of-Living Adjustments)

Accepted Answer

A) 1% 
B) 3.6% 
C) 7.2% 
D) 9% 
A) 1% 
B) 3.6% 
C) 7.2% 
D) 9%

Question 18

Medicare Part A only covers outpatient hospital care and services. (Medicare Part A Coverage)

Accepted Answer

A) True 
 B)False

Question 19

The net job gains between March to June 2011 offset the net job losses during the 2007-2009 recession. (Unemployment Insurance)

Accepted Answer

A) True 
 B)False

Question 20

In 2011,more than 55 million Americans were expected to receive Social Security benefits. (OASDI and Medicare)

Accepted Answer

A) True 
 B)False

An employee's average indexed monthly earnings determines the initial primary insurance amount for OASDI benefits. (Determining Benefit Amounts)

The supplemental insurance benefit (SUB)is used to extend disability benefits. (Unemployment Insurance Benefit Amounts)

Which of the following are not covered by Medicare Part B? (Medicare Part B Coverage)

In 2012,what was the annual monthly benefit for all retired workers? (Retirement Benefit Amount Determination)

Briefly discuss the eligibility criteria for unemployment insurance benefits? (Eligibility Criteria for Unemployment Insurance Benefits)

OASDI taxes are subject to a taxable wage base.What was the taxable wage base for everyone in 2012? (OASDI Programs)

Physicians' fees and custodial care in a nursing home are covered by Medicare Part A.(Medicare Part A Coverage)

Which of the following is not one of the factors believed to have hastened the deterioration of the OASDI and Medicare trust funds? (Financial Status of the OASDI and Medicare Programs)

Medicare Part B covers the services not included under Medicare Past A.(Medicare Part B Coverage)

In 2009,6.2% of employer and employee contributions were set aside from FICA to fund OASDI programs. (OASDI Programs)

The employee and self-employed tax rates were each temporarily reduced by 2 percent for the 2012 calendar year. (OASDI Programs)

Only restricted groups of workers are eligible for OASDI and Medicare protection. (OASDI and Medicare)

Medicare Part D was first offered in 2004. (Medicare Prescription Drug Benefit)

Which Medicare program provides beneficiaries the opportunity to receive health care from a variety of options? (Medicare Part C: Medicare Advantage)

This Medicare program offers voluntary supplemental medical insurance. (Medicare Part B Coverage)

Briefly discuss Medicare Part A coverage. (Medicare Part A Coverage)

Effective 2012,what was the annual increase in Social Security benefits? (Automatic Cost-of-Living Adjustments)

Medicare Part A only covers outpatient hospital care and services. (Medicare Part A Coverage)

The net job gains between March to June 2011 offset the net job losses during the 2007-2009 recession. (Unemployment Insurance)

In 2011,more than 55 million Americans were expected to receive Social Security benefits. (OASDI and Medicare)

Introducing Employee Benefits

The Psychology and Economics of Employee Benefits

Regulating Employee Benefits

Employer-Sponsored Retirement Plans

Employer-Sponsored Health Insurance Programs

Employer-Sponsored Disability Insurance,life Insurance,and Workers Compensation Programs

Paid Time-Off and Flexible Work Schedules

Accommodation and Enhancement Benefits

Managing the Employee-Benefits System

Nonqualified Deferred Compensation Plans for Executives

Global Employee Benefits at a Glance

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Exam 7: Government-Mandated Social Security Programs

An employee's average indexed monthly earnings determines the initial primary insurance amount for OASDI benefits. (Determining Benefit Amounts)

The supplemental insurance benefit (SUB)is used to extend disability benefits. (Unemployment Insurance Benefit Amounts)

Which of the following are not covered by Medicare Part B? (Medicare Part B Coverage)

In 2012,what was the annual monthly benefit for all retired workers? (Retirement Benefit Amount Determination)

Briefly discuss the eligibility criteria for unemployment insurance benefits? (Eligibility Criteria for Unemployment Insurance Benefits)

OASDI taxes are subject to a taxable wage base.What was the taxable wage base for everyone in 2012? (OASDI Programs)

Physicians' fees and custodial care in a nursing home are covered by Medicare Part A.(Medicare Part A Coverage)

Which of the following is not one of the factors believed to have hastened the deterioration of the OASDI and Medicare trust funds? (Financial Status of the OASDI and Medicare Programs)

Medicare Part B covers the services not included under Medicare Past A.(Medicare Part B Coverage)

In 2009,6.2% of employer and employee contributions were set aside from FICA to fund OASDI programs. (OASDI Programs)

The employee and self-employed tax rates were each temporarily reduced by 2 percent for the 2012 calendar year. (OASDI Programs)

Only restricted groups of workers are eligible for OASDI and Medicare protection. (OASDI and Medicare)

Medicare Part D was first offered in 2004. (Medicare Prescription Drug Benefit)

Which Medicare program provides beneficiaries the opportunity to receive health care from a variety of options? (Medicare Part C: Medicare Advantage)

This Medicare program offers voluntary supplemental medical insurance. (Medicare Part B Coverage)

Briefly discuss Medicare Part A coverage. (Medicare Part A Coverage)

Effective 2012,what was the annual increase in Social Security benefits? (Automatic Cost-of-Living Adjustments)

Medicare Part A only covers outpatient hospital care and services. (Medicare Part A Coverage)

The net job gains between March to June 2011 offset the net job losses during the 2007-2009 recession. (Unemployment Insurance)

In 2011,more than 55 million Americans were expected to receive Social Security benefits. (OASDI and Medicare)

Introducing Employee Benefits

The Psychology and Economics of Employee Benefits

Regulating Employee Benefits

Employer-Sponsored Retirement Plans

Employer-Sponsored Health Insurance Programs

Employer-Sponsored Disability Insurance,life Insurance,and Workers Compensation Programs

Paid Time-Off and Flexible Work Schedules

Accommodation and Enhancement Benefits

Managing the Employee-Benefits System

Nonqualified Deferred Compensation Plans for Executives

Global Employee Benefits at a Glance

Filters