Lesson 8 Quiz
The following quiz is provided for your information to help you measure your retention level on the material covered within this lesson. It is not graded. Only the final examination is graded.
Answer or complete each question to the best of your knowledge and click on the "Check your answer" button. If your answer is incorrect, you will be instructed where to find the correct answer. It is not necessary to repeat the quiz if you exit this page; however, your answers will not be saved once you exit. This feature is provided for future practice purposes.
1 |
Purpose of Social SecurityHow many quarters of participating employment are required to be considered fully insured under Social Security? |
2 |
Social Security is referred to as a pay-as-you-go system. |
3 |
EligibilityIf an individual had earned six credits in the last 13 quarters prior to death, he/she would be considered _____________ insured for Social Security benefits. |
4 |
Each credit equals __________ annual FICA taxed earnings in 2012 with an annual limit of four credits per year. |
5 |
The 2012 taxable wage base for FICA taxes is: |
6 |
OASDI = ______%, whereas Medicare = _______%. |
7 |
Dave's widowed mother died at age 44 fully insured. Since Dave is an only child and there is no surviving spouse, what is the maximum lump sum benefit Dave is eligible to receive from Social Security death benefits? |
8 |
In order to qualify for Social Security disability benefits, the disabled worker must be unable to perform: |
9 |
Social Security disability benefits are eligible to begin after a waiting period of ____________ during which time the person must remain disabled. |
10 |
DefinitionsMatch the following with their respective definitions. |
