Frank is doing some life insurance planning. A financial advisor said, “be sure to consider Social Security when examining sources of funds available for family support if you die.” The financial advisor was referring to which Social Security benefit? A) retirement benefits B) survivor benefits C) disability benefits D) health insurance benefits ANSWER […]
In order to receive unemployment insurance benefits, an unemployed worker must meet all of the following eligibility requirements EXCEPT A) have qualifying wages and employment. B) be able to work. C) be actively seeking work. D) satisfy a 6-month waiting period. ANSWER Answer: D
Which of the following is a current problem with workers compensation programs? A) declining involvement of lawyers in workers compensation claims B) exclusion of deaths and injuries attributable to terrorism C) exclusion of benefits for occupational illness D) overuse of opiate prescription drugs in workers compensation. ANSWER Answer: D
Which of the following statements about unemployment insurance benefits is true? A) Benefits are a flat amount regardless of a worker’s previous wages. B) Because of federal legislation, the maximum benefit is the same in all states. C) Most states pay regular benefits for a maximum duration of 26 weeks. D) Under the extended benefits […]
Dale, age 65, was dismayed to learn about all of the deductibles, co-pays, limits, and exclusions in the Medicare program. Dale bought a type of health insurance specifically designed to supplement Medicare, and selected his coverage from among 10 standard policies that private insurers offer. What type of health insurance did Dale purchase? A) long-term […]
Which of the following statements about the financing of the Social Security program is (are) true? I. Although the self-employed pay an OASDI tax rate that is twice the employee rate, they are allowed certain deductions that reduce the effective tax rate. II. The earnings base on which OASDI taxes are paid increases annually based […]
Objectives of unemployment insurance include which of the following? I. To help unemployed workers find jobs. II. To encourage employers to stabilize employment. A) I only B) II only C) both I and II D) neither I nor II ANSWER Answer: C
Corporate managers should accept investment projects that maximize profits in the short run because of the time value of money. Indicate whether the statement is true or false ANSWER FALSE
All of the following persons are eligible for survivor benefits under Social Security EXCEPT A) dependent parents age 62 or older. B) a surviving brother or sister, age 60 or older. C) a surviving spouse age 60 or older. D) a surviving spouse with eligible children younger than age 16. ANSWER Answer: B
Which of the following statements about disability benefits under Social Security is true? A) There is a one-year waiting period before benefits are payable. B) Benefits are payable as long as the disabled worker is unable to perform his or her regular occupation. C) Benefits are payable only if the condition causing the disability is […]
