by alex
Understanding the intricacies of Social Security can be pivotal for financial planning and retirement. This quiz will test your knowledge on various aspects of Social Security, from its history to its current application. Dive in and see how much you know about this crucial social safety net!
Social Security Check Quiz Questions Overview
1. When was the Social Security Act signed into law?
1935
1945
1955
1965
2. Who is eligible to receive Social Security benefits?
Anyone over 18
Anyone who has worked for at least 10 years
Retired workers, disabled individuals, and survivors of deceased workers
Only U.S. citizens
3. What is the full retirement age for individuals born in 1960 or later?
62
65
66
67
4. What percentage of your earnings is typically withheld for Social Security taxes?
6.2%
12.4%
15.3%
18.6%
5. Which U.S. President signed the Social Security Act into law?
Herbert Hoover
Franklin D. Roosevelt
Harry S. Truman
Dwight D. Eisenhower
6. What is the maximum taxable earnings amount for Social Security in 2023?
$132,900
$137,700
$142,800
$160,200
7. At what age can individuals begin receiving reduced Social Security retirement benefits?
60
62
65
67
8. What is the Social Security Administration’s primary source of funding?
Income taxes
Payroll taxes
Sales taxes
Corporate taxes
9. Which of the following is NOT a benefit provided by Social Security?
Retirement benefits
Disability benefits
Unemployment benefits
Survivor benefits
10. What is the purpose of the Social Security Trust Fund?
To invest in the stock market
To pay for administrative costs
To hold surplus Social Security tax revenues
To fund Medicare
