Quiz about 9-2: Social Security Benefits

Question 1

In 2020, Andrew had three jobs. He earned $32,000 at Job A; $56,000 at Job B; and $50,000 at Job C. How much Social Security tax did he overpay, if any? In 2020, the maximum taxable income for Social Security was $137,700; the tax rate was 6.2%.

Accepted Answer

$18.60

Answer

There was no overpayment.

Answer

$18.70

Answer

$18.80

Answer

$18.90

Question 2

In 2019, Alexander had two jobs. He earned $75,000 at Job A; and $57,000 at Job B. How much Social Security tax did he overpay, if any? In 2019, the maximum taxable income for Social Security was $132,900; the tax rate was 6.2%.

Accepted Answer

There was no overpayment.

Answer

$55.60

Answer

$55.70

Answer

$55.80

Answer

$55.90

Question 3

In 2018, John had four jobs. He earned $34,000 at Job A; $39,000 at Job B; $41,000 at Job C; and $30,000 at Job D. How much Social Security tax did he overpay, if any? In 2018, the maximum taxable income for Social Security was $128,400; the tax rate was 6.2%.

Accepted Answer

$967.20

Answer

There was no overpayment.

Answer

$967.10

Answer

$967.30

Answer

$967.40

Question 4

In 2017, Allison had two jobs. She earned $63,900 at Job A; and $72,500 at Job B. How much Social Security tax did she overpay, if any? In 2017, the maximum taxable income for Social Security was $127,200; the tax rate was 6.2%.

Accepted Answer

$570.40

Answer

There was no overpayment.

Answer

$570.10

Answer

$570.20

Answer

$570.30

Question 5

In 2016, Beth had three jobs. She earned $52,500 at Job A; $19,500 at Job B; and $49,250 at Job C. How much Social Security tax did she overpay, if any? In 2016, the maximum taxable income for Social Security was $118,500; the tax rate was 6.2%.

Accepted Answer

$170.50

Answer

There was no overpayment.

Answer

$170.30

Answer

$170.40

Answer

$170.60

Question 6

Brenda requests her annual Social Security statement from the Social Security Administration each year. She wants to see how many credits she received for 2020. She worked all year and earned $400 per month. How many credits did she earn in 2020? In 2020, it took an earning of $1,410 to earn one credit.

Accepted Answer

3 credits

Answer

0 credits

Answer

1 credit

Answer

2 credits

Answer

4 credits

Question 7

Theresa requests her annual Social Security statement from the Social Security Administration each year. She wants to see how many credits she received for 2019. She worked all year and earned $165 semimonthly. How many credits did she earn in 2019? In 2019, it took an earning of $1,360 to earn one credit.

Accepted Answer

2 credits

Answer

0 credits

Answer

1 credit

Answer

3 credits

Answer

4 credits

Question 8

Tammy requests her annual Social Security statement from the Social Security Administration each year. She wants to see how many credits she received for 2018. She worked all year and earned $45 biweekly. How many credits did she earn in 2018? In 2018, it took an earning of $1,320 to earn one credit.

Accepted Answer

0 credits

Answer

1 credit

Answer

2 credits

Answer

3 credits

Answer

4 credits

Question 9

Judy requests her annual Social Security statement from the Social Security Administration each year. She wants to see how many credits she received for 2017. She worked all year and earned $2,599 all year. How many credits did she earn in 2017? In 2017, it took an earning of $1,300 to earn one credit.

Accepted Answer

1 credit

Answer

0 credits

Answer

2 credits

Answer

3 credits

Answer

4 credits

Question 10

Dawn requests her annual Social Security statement from the Social Security Administration each year. She wants to see how many credits she received for 2016. She worked all year and earned $2,000 weekly. How many credits did she earn in 2016? In 2016, it took an earning of $1,260 to earn one credit.

Accepted Answer

4 credits

Answer

0 credits

Answer

1 credit

Answer

2 credits

Answer

3 credits

Question 11

Melanie retired in 2019 at 67 years old, meaning she qualified for full Social Security benefits.

For people turning 67 in 2019, the formula for computing Social Security Benefits was:

90% of the first $926 on monthly earnings

32% of the monthly earnings between $926 and $5,583

15% of the earnings over $5,583

Melanie's monthly earnings were $5,583.

What monthly Social Security benefits will this person receive?

Accepted Answer

$2,323.64

Answer

$2,323.61

Answer

$2,323.62

Answer

$2,323.63

Answer

$2,323.65

Question 12

Keri retired in 2018 at 67 years old, meaning she qualified for full Social Security benefits.

For people turning 67 in 2018, the formula for computing Social Security Benefits was:

90% of the first $895 on monthly earnings

32% of the monthly earnings between $895 and $5,397

15% of the earnings over $5,397

Keri's monthly earnings were $4,000.

What monthly Social Security benefits will this person receive?

Accepted Answer

$1,799.10

Answer

$1,799.20

Answer

$1,799.30

Answer

$1,799.40

Answer

$1,799.50

Question 13

Heidi retired in 2017 at 67 years old, meaning she qualified for full Social Security benefits.

For people turning 67 in 2017, the formula for computing Social Security Benefits was:

90% of the first $885 on monthly earnings

32% of the monthly earnings between $885 and $5,336

15% of the earnings over $5,336

Heidi's monthly earnings were $3,000.

What monthly Social Security benefits will this person receive?

Accepted Answer

$1,473.30

Answer

$1,473.10

Answer

$1,473.20

Answer

$1,473.40

Answer

$1,473.50

9-2: Social Security Benefits

15 questions

In 2020, Andrew had three jobs. He earned $32,000 at Job A; $56,000 at Job B; and $50,000 at Job C. How much Social Security tax did he overpay, if any? In 2020, the maximum taxable income for Social Security was $137,700; the tax rate was 6.2%.

In 2019, Alexander had two jobs. He earned $75,000 at Job A; and $57,000 at Job B. How much Social Security tax did he overpay, if any? In 2019, the maximum taxable income for Social Security was $132,900; the tax rate was 6.2%.

In 2018, John had four jobs. He earned $34,000 at Job A; $39,000 at Job B; $41,000 at Job C; and $30,000 at Job D. How much Social Security tax did he overpay, if any? In 2018, the maximum taxable income for Social Security was $128,400; the tax rate was 6.2%.

In 2017, Allison had two jobs. She earned $63,900 at Job A; and $72,500 at Job B. How much Social Security tax did she overpay, if any? In 2017, the maximum taxable income for Social Security was $127,200; the tax rate was 6.2%.

In 2016, Beth had three jobs. She earned $52,500 at Job A; $19,500 at Job B; and $49,250 at Job C. How much Social Security tax did she overpay, if any? In 2016, the maximum taxable income for Social Security was $118,500; the tax rate was 6.2%.

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