20 Questions
What is the role of the Social Security program in reducing poverty among the elderly in the United States?
Providing access to affordable healthcare services
What benefits were established by amendments to the Social Security Act?
Survivors' Insurance and Disability Insurance
How do employees qualify for Old-Age, Survivor, and Disability Insurance (OASDI) benefits?
By accumulating Social Security credits
What additional benefit was established as part of the OASDI by amendments to the Social Security Act in 1965?
Disability Insurance
What is the purpose of the nine-digit Social Security number created in the late 1930s?
To track employees' wages for benefit determination
Which federal agency oversees the administration of Old-Age, Survivor, and Disability Insurance (OASDI) and Medicare?
Social Security Administration and Centers for Medicare & Medicaid Services
What type of benefits does Old-Age, Survivor, and Disability Insurance (OASDI) provide?
All of the above
What does Medicare provide coverage for?
Hospitalization, convalescent care, and major doctor bills for those 65 and older, and disabled Social Security beneficiaries
How does Social Security contribute to reducing elderly poverty in the United States?
By providing income support through programs like OASDI and Medicare
What is described as the most important and effective income support program ever introduced in the United States?
Social Security
What is the main purpose of establishing Social Security, Medicare, and Unemployment Insurance according to the text?
To reduce elderly poverty by providing financial support
Which program covers Old-Age, Survivor, and Disability Insurance (OASDI)?
Social Security
What is the role of Social Security in reducing elderly poverty?
Ensuring a source of income for retired individuals
Which of the following is NOT a topic discussed in relation to the Social Security programs in the text?
Origins of Medicaid programs
Why was Medicare established?
To ensure access to healthcare for individuals aged 65 and older
What age can a worker start collecting retirement benefits according to the text?
61 years and 9 months
When does a disabled worker begin receiving Social Security benefits?
After a five-month waiting period
What is the Full Retirement Age (FRA) according to the text?
66 years old
At what age can spousal benefits begin according to the text?
62
How does waiting until age 70 to apply for Social Security benefits affect payments?
Payments increase
Test your knowledge on government-mandated social security programs with this quiz from the Employee Benefits class by Raj K. Singh, Ph.D. at the University of California Riverside School of Business.
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