This quiz is part of LFE Institute's CWMC (Certified Workplace Money Coaching) course. It will test your proficiency in the Social Security Module (Module 27) of the program. The questions are all multiple choice, and are designed to be a review of this Module. Let LFE know when you've successfully completed this test and are ready to begin the next Module. Correct answers required for passing grade: 8/9
Be at least 62 years of age
Have acquired at least 40 credits
Be fully retired
Be on Medicare
Be married
A disabled widow or widower as early at age 50
Dependent parents age 62 or older
Children who were disabled before age 22 and are still disabled
Divorced spouses, under certain circumstances
Anyone who cannot work
At the completion of 40 years of work
At the completion of paying into the Social Security program for 40 years
It depends on a person's date of birth
Age 65
Just depends when the individual retires
Earnings are exempt from FICA withholdings
Benefit check is reduced by the amount of earnings
50% of earnings are not subject to FICA withholdings
A portion of the benefit may be taxable
None of the income is taxable
A portion of the benefit must be repaid
A portion of the benefit may be taxable
For every $2 benefit received, $1 must be repaid
All of the above
None of the above
Birth certificate
Social Security card
Tax returns
Proof of U.S. citizenship or lawful immigration status
Credit report
Financial benefits for retired workers over age 65
Payments for people released from poor houses
Funds for people who have disabilities
Benefits for survivors of deceased workers
A comfortable living for every American over age 62
On the person's 63rd birthday
6 months prior to retiring from work
3 months prior to when you want benefits to begin
If disabled, as soon as possible
When the person turns 70½
Saves HR staff’s time so they don’t have to answer the questions
Keeps employees’ from researching the answers on the job
Helps answer questions employees have for their aging parents
Makes it easier for employees to prepare for retirement
Boosts employee participation in company's retirement plan since employees realize they can’t live solely on Social Security income
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