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Social Security Benefits Quiz

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Questions and Answers

Which of the following is NOT a benefit provided by Social Security (OASDI)?

Disability benefit

Survivor benefit

Retirement benefit

Healthcare benefit (correct)

What percentage of an employee's wages is set aside for Social Security payroll taxes?

3.1%

6.2% (correct)

9.3%

12.4%

At what age can you retire early and take a reduced benefit?

62 (correct)

Which of the following is true about taking an early Social Security benefit and continuing to work?

You might have to pay back some of your Social Security to the government Signup and view all the answers

What was the cost-of-living adjustment for Social Security in 2021?

5.9% Signup and view all the answers

How does the spousal benefit work?

The spouse can claim a benefit equal to half of the other spouse's benefit Signup and view all the answers

Which of the following is true about the Social Security benefit calculation?

The benefit is larger for lower earners compared to higher earners. Signup and view all the answers

What is the full retirement age for individuals born in 1960 or later?

67 Signup and view all the answers

What percentage of an employee's wages is set aside for Social Security payroll taxes?

12.4% Signup and view all the answers

Which of the following is true about the cost-of-living adjustments for Social Security?

The cost-of-living adjustment for 2021 was 5.9% Signup and view all the answers

What is the spousal benefit rule for Social Security?

If the spouse's benefit is lower than the other spouse's, they can claim a spousal benefit equal to half of the lower benefit Signup and view all the answers

What happens to the spousal benefit if one spouse dies?

The surviving spouse receives the full benefit of the deceased spouse Signup and view all the answers

Social Security Benefits Quiz

Choose a study mode

Podcast

Questions and Answers

Which of the following is NOT a benefit provided by Social Security (OASDI)?

What percentage of an employee's wages is set aside for Social Security payroll taxes?

At what age can you retire early and take a reduced benefit?

Which of the following is true about taking an early Social Security benefit and continuing to work?

What was the cost-of-living adjustment for Social Security in 2021?

How does the spousal benefit work?

Which of the following is true about the Social Security benefit calculation?

What is the full retirement age for individuals born in 1960 or later?

What percentage of an employee's wages is set aside for Social Security payroll taxes?

Which of the following is true about the cost-of-living adjustments for Social Security?

What is the spousal benefit rule for Social Security?

What happens to the spousal benefit if one spouse dies?

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