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Social Security Module 5 Exam

Authored by Kirk Anderson

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Professional Development

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Social Security Module 5 Exam
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95 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Using the Lifetime Benefits chart for the Wilsons, what is the difference between the Maximum Benefit amount and if they were both to claim at their FRA's?

Over $210,000

About $102,400

Less than $55,700

About $82,000

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Using the PIA Calculations section of your software report, what are Linda’s earnings in 2003 of $18,900 after indexing?

$18,900

$92,306

$898

$33,608

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assuming Linda is the survivor, based on the life expectancy estimates they selected, what is the difference between the Maximum Option and Option A for her Net Annual Benefits during the years she is a widow?

About $1,500 per year more if using Option A.

About $11,400 less per year if using the Maximum claiming option.

About $16,200 per year more if using the Maximum claiming option.

About $8,600 per year less if using Option A.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the Wilson's Lifetime Benefits chart, what is the Maximum Benefit amount shown in the orange box?

$1,448,240

$1,453,643

$1,534,344

$1,302,203

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Looking at Appendix chart Option B, both filing at FRA, how much does Linda receive in survivor benefits at age 92?

$9,312

$29,892

$39,204

$8,632

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a factor for a single person with no dependents deciding when to begin collecting Social Security benefits?

How long they plan to work

Their maximum life expectancy

The survivor benefit

Other available financial resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first month Pete is eligible for retirement benefits?

October 2024

November 2024

October 2027

October 2029

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