Future for Social Security MCQs
Future for Social Security MCQs
Our experts have gathered these Future for Social Security MCQs through research, and we hope that you will be able to see how much knowledge base you have for the subject of Future for Social Security by answering these multiple-choice questions.
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1: As applied to Social Security, the principle of maintaining a decent minimum income for everyone regardless of how much an individual contributed is called
A. Equity
B. Adequacy
C. Affluence
D. Affinity
2: An approach designed to eliminate some benefit for those who are wealthy or above a specific income level is called
A. Affection test
B. Affluence test
C. Non -affluence test
D. Discriminate test
3: A ________ plan that would divide the total earnings of a married couple between the Social Security accounts of both spouses is called earning share
A. Retirement
B. Employment
C. Family
D. None of above
4: Equity describes that it applied to Social Security, a fair return to beneficiaries depending on how much they ______ to the system
A. Refuse
B. Contribute
C. Misconduct
D. Contravene
5: A pension system, public or private, in which future retirement benefits owed are paid out of money saved up in advance is called
A. Equity system
B. Funded system
C. Adequacy system
D. Replacement system
6: Pay-as-you-go system is an approach to paying for Social Security in which workers today contribute money used to pay benefits for those now retired; that is, current workers pay current expenses, rather than saving up for future benefits
A. True
B. False
7: A tax for which the burden is proportionately greater for the poor than for the rich; the opposite of a progressive tax is called
A. Progressive tax
B. Income tax
C. Regressive tax
D. All of above
8: The proportion of preretirement ______ that Social Security pays beneficiaries is called replacement rate
A. Values
B. Income
C. Expenditures
D. Ethics
9: The excess of Social Security payroll taxes collected over the amount paid out, including excess funds accumulated from prior years is called Social security surplus
A. True
B. False
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Future for Social Security MCQs
