Mini-Quiz: Social Security

 
Select the one correct answer
  1. The principle that assures that Social Security will have sufficient income to pay future benefits is:
      The program is compulsory and can count on future income from taxes.
      The program pays benefits when needed.
      The program limits individual choice.
      Social Security is for everybody.

  2. Five basic principles that determine how the program works are:
      Social Security is free, for everybody, fair, mainstream, voluntary.
      The program is regressive, work-related, cummulative, for older people, for the future.
      The program has no needs test, benefits are work-related, participation is compulsory, benefits are weighted in favor of low-income, contributory.
      All of the above.

  3. A basic principle that makes Social Security different from private insurance is:
      The program is compulsory (everybody must participate).
      Benefits are weighted in favor of low-income workers.
      Benefits are based on work.
      All of the above.

  4. It is generally felt that Social Security would not work as a strictly voluntary program because:
      Only poor people would pay the premiums so that they could collect benefits.
      Only rich people would pay the premiums so that they could collect benefits.
      Many people would not participate and would fail to provide protection through other means.
      None of the above.

  5. The primary difference in purpose between a social insurance program like Social Security, which pays benefits if you meet the conditions in the law regardless of need, and a public assistance program like SSI, which has a test of need, is:
      SSI is designed to help people in need; Social Security is designed to help prevent need.
      Social Security is for old people; SSI is for aged, blind, and disabled people.
      Social Security pays lower benefit
      All of the above.

  6. By "individual equity" we refer to:
      The fact that an individual gets a reasonable return on his investment in Social Security.
      The fact that an individual can count on Social Security.
      The individual’s right to benefits as a matter of law.
      The individual’s choice between Social Security and SSI.

  7. Two advantages of the work-related principle of Social Security are:
      Social Security pays benefits to young people also; everybody must pay taxes.
      Tax amounts are based on earnings; benefit amounts are based on earnings.
      You must work to earn benefits; you must apply to get them.
      None of the above.

  8. The goal of social adequacy means that:
      Benefits are weighted in favor of low wage earners.
      Increased benefits are paid to workers with families.
      Benefits are paid to workers with high earnings.
      The first two answers above.

  9. The fact that almost all Americans who are employed must participate in Social Security whether they want to or not means that Social Security is:
      Compulsory
      Contributory
      Work-related
      Weighted benefits

  10. The main source of income for Social Security is:
      The taxes from employees, employers, and the self-employed.
      General revenues.
      Special trust funds.
      All of the above.

   

This quiz was from the Social Security Administration site that has additional quizzes for those interested.

Back to Our Information on Social Security