CFG Social Security & Government Benefits for Older Adults

Question 1

At what age can a worker first claim reduced Social Security retirement benefits?

Accepted Answer

62

Answer

59½

Answer

65

Answer

67

Question 2

What is the maximum percentage by which Social Security benefits are reduced if claimed at age 62 for someone with a full retirement age of 67?

Accepted Answer

30%

Answer

20%

Answer

25%

Answer

35%

Question 3

Which program provides cash assistance to low-income elderly and disabled individuals who have limited Social Security work history?

Accepted Answer

Supplemental Security Income (SSI)

Answer

Medicare Part B

Answer

Social Security Disability Insurance (SSDI)

Answer

SNAP

Question 4

A widow or widower can receive survivor benefits from Social Security as early as what age?

Accepted Answer

60

Answer

55

Answer

62

Answer

65

Question 5

How much do delayed Social Security retirement credits increase benefits for each year claimed beyond full retirement age, up to age 70?

Accepted Answer

8%

Answer

5%

Answer

6%

Answer

7%

Question 6

Which of the following best describes the Social Security spousal benefit?

Accepted Answer

Up to 50% of the worker's primary insurance amount

Answer

Up to 100% of the worker's primary insurance amount

Answer

Up to 75% of the worker's primary insurance amount

Answer

Up to 33% of the worker's primary insurance amount

Question 7

The Social Security full retirement age for individuals born in 1960 or later is:

Accepted Answer

67

Answer

65

Answer

66

Answer

66 and 10 months