Quiz about Social Security

Question 1

What is the purpose of Social Security?

Accepted Answer

to help Americans pay the bills when they can no longer work

Answer

to protect the safety of our nation's harbors

Answer

to provide a trained military

Answer

to provide low cost healthcare

Question 2

When can you begin receiving Social Security benefits?

Accepted Answer

Age 62

Answer

Age 52

Answer

Age 70

Answer

Age 60

Question 3

What happens if you want to collect social security payments at age 62?

Accepted Answer

You will be paid less than if you wait until you are older

Answer

You can't unless you are disabled

Answer

You will get the same amount no matter what age you are.

Question 4

Something will need to change in the social security program to keep making the promised payments.

Accepted Answer

True

Answer

False

Question 5

Politicians generally agree about what needs to be done to help the social security program.

Accepted Answer

False

Answer

True

Question 6

Most older people don't care that much about social security.

Accepted Answer

False

Answer

True

Question 7

What is a benefit of waiting until you are 70 to claim social security benefits?

Accepted Answer

Get bigger monthly payments

Answer

Pay less in taxes

Answer

Get more total out of the social security system

Answer

Get to quit working earlier

Question 8

Many older adults rely heavily on social security

Accepted Answer

True

Answer

False

Question 9

Social security is designed to be your only source of income when you retire.

Accepted Answer

False

Answer

True

Question 10

If people in America start having a lot more people, it will solve the social security crisis.

Accepted Answer

False

Answer

True

Question 11

If you never paid into the social security system, you can never collect your own benefits.

Accepted Answer

True

Answer

False

Question 12

If you never paid into the social security system, but are married to someone who did, you can collect a spousal payment.

Accepted Answer

True

Answer

False

Question 13

What is a benefit of claiming social security benefits when you are 62?

Accepted Answer

Get to quit working earlier

Answer

Pay less in taxes

Answer

Get bigger monthly payments

Answer

Get more total out of the social security system

Question 14

What happens if you want to collect social security benefits at age 60?

Accepted Answer

You can't, unless you are disabled and getting disability payments

Answer

You get paid a lot less

Answer

You can get paid the same amount, but they will stop payments two years before you die.

Question 15

Fixing the social security problem will be easy because most people pretty much like all the possible solutions.

Accepted Answer

False

Answer

True

Question 16

If you want to plan how much you will some day get in social security payments, you pretty much need to guess.

Accepted Answer

False, they give you your estimate for each year starting at age 62

Answer

True

Answer

False, it is a simple calculation

Question 17

What happens if you wait until you are 75 to claim benefits?

Accepted Answer

The amount you get will be the same as at 70 and you will have missed out on 5 years of payments

Answer

You get even higher payments than you would at age 70

Answer

The amount of your payment starts going down every year since you won't live that long.

Answer

If you wait past 72 the government will file for you

Social Security

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