Which of the following statements about the characteristics of social insurance programs is true? A) They are designed to provide a floor of income with respect to the risks that are covered. B) Social insurance benefits payments are unrelated to income. C) Participants are required to satisfy a means test to receive benefits. D) With […]
Which of the following statements about the role of physicians with respect to Medicare claims is (are) true? I. Physicians who do not accept an assignment of Medicare claims can charge as much as 200 percent of the Medicare-approved fee. II. Physicians who accept assignment agree to accept the Medicare-approved amount as payment in full. […]
Which of the following statements about a worker’s primary insurance amount is (are) true? I. It is the monthly amount paid to a worker who elects early retirement at age 62. II. It is equal to 50 percent of the worker’s final average pay that was subject to Social Security taxes. A) I only B) […]
Which of the following expenses is covered under the medical insurance (Part B) portion of the Medicare program? A) long-term care in a skilled nursing facility B) the fee charged by a surgeon for an operation C) the cost of a semi-private room during a hospital stay D) routine prescription drugs outside of the hospital […]
Which of the following statements about the full retirement age under the Social Security program is true? A) The current retirement age for full benefits is age 62. B) Beginning in the year 2025, the retirement age will be gradually increased to age 75. C) Early retirement with reduced benefits is allowed as early as […]
It is important to evaluate a corporate manager’s financial decision by measuring the effect the decision should have on the corporation’s stock price if everything else were held constant. Indicate whether the statement is true or false ANSWER TRUE
All of the following persons are eligible for a benefit under the retirement portion of the Social Security program EXCEPT A) a divorced spouse, age 55, who was married to the retired worker for 6 years. B) a retired worker’s 63 year-old spouse who is no longer caring for children. C) a retired worker’s 52 […]
Which of the following statements about participation in the Social Security program is (are) true? I. Most private sector employees are covered under the Social Security program. II. Each employee has the right to “opt out” of the Social Security program if the employee does not wish to participate in the program. A) I only […]
As of this year, Brad, age 50, has 40 credits under the Social Security program. These credits were all earned in the last 10 years. What is Brad’s insured status under the program? A) He is currently and fully insured. B) He is currently insured, but not fully insured. C) He is fully insured, but […]
Each financial decision made by a corporate manager can be evaluated by its direct impact on the corporation’s stock price. Indicate whether the statement is true or false ANSWER FALSE
