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12th Grade Welfare Economics Quizzes, Questions & Answers

12th Grade

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How Well Do You Know Social Security And The 2015 Income Claiming Rule Changes?

How Well Do You Know Social Security And The 2015 Income Claiming Rule Changes?

Note: "Bipartisan Budget Act of 2015" abbreviated as "BBA 2015"

Questions: 10 | Attempts: 80 | Last updated: Mar 14, 2025

Sample Question 1
Section 831 of the Bipartisan Budget Act of 2015 addresses which of the following?

How someone’s full retirement benefit is calculated based on his/her earnings history

The Department of Defense spending budget

Phase out the file-and-suspend and restricted application Social Security claiming strategies

Section 831 helps wealthy people get more Social Security income

Sample Question 2
Section 831 of the BBA 2015 phases out which of the following over time?

Use of the restricted application to obtain spousal income while delaying own retirement benefit

Application of the file-and-suspend strategy

Strategies for couples and divorced retirees to potentially get more Social Security income

All of the above are correct

Sample Question 3
How many, and which years of earnings, are used to calculate the Social Security Benefit?

35 years of your most recent earnings

30 years of your highest earnings

35 years of your highest earnings

30 years of your most recent earnings

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