FHCE 3200 Poverty Management Exam
Latest Update
A cash payment made to someone who recently lost their job is called a(n):
a.Fringe Benefit.
b.Social Security.
c.Medicaid.
d.Unemployment insurance benefit. - Answer d.Unemployment insurance benefit.
All of the following are considered to be fringe benefits, except:
a.Vacation Pay.
b.Health Insurance.
c.Social Security Withholdings.
d.Access to a Retirement Plan. - Answer c.Social Security Withholdings.
Money used to make transfer payments from the government to individuals comes from:
a.The Federal Reserve.
b.Taxes and Borrowing.
c.Revenue Generated from Oil and Gas Permits.
d.Interest Earned on the Social Security Trust Funds. - Answer b.Taxes and Borrowing.
Lionel recently lost his job at a local factory. Unfortunately, he has also been
experiencing several severe health challenges. The expenses associated with his
medical issues have depleted his savings. Which of the following governmental benefits
could Lionel apply to for help with his medical expenses?
a.Medicare.
b.Social Security.
c.Sick and Casualty Coverage.
d.Medicaid. - Answer d.Medicaid.
Someone who qualifies for Medicaid may also be eligible for:
a.Supplemental Nutrition Assistance Program Benefits.
, b.Temporary Assistance for Needy Families Benefits.
c.Refundable Tax Credits.
d.All of the Above. - Answer d.All of the Above.
All of the following are related to a person's current income, except:
a.Social Security benefits.
b.Temporary Assistance for Needy Families.
c.Supplemental Nutrition Assistance Program.
d.Education Grants and Loan Subsidies. - Answer d.Education Grants and Loan
Subsidies
Nearly every working adult living in the United States contributes to the Social Security
system. How can someone access Social Security benefits?
a.Be at least age 62 and retired.
b.Become permanently disabled.
c.Apply as soon as 40 credits have been achieved.
d.Both a and b. - Answer d.Both a and b.
Linda earns $83,000 as an employee per year. How much will she pay this year in Social
Security taxes?
a.$6,349.50
b.$5,146.00
c.$1,203.50
d.$0 because she is not retired. - Answer b.$5,146.00
All of the following are employer provided benefits except:
a.Social Security.
b.Wages.
c.Health Insurance
d.Sick and Holiday Pay. - Answer a.Social Security.
How are Social Security benefits currently funded and paid to beneficiaries?
Latest Update
A cash payment made to someone who recently lost their job is called a(n):
a.Fringe Benefit.
b.Social Security.
c.Medicaid.
d.Unemployment insurance benefit. - Answer d.Unemployment insurance benefit.
All of the following are considered to be fringe benefits, except:
a.Vacation Pay.
b.Health Insurance.
c.Social Security Withholdings.
d.Access to a Retirement Plan. - Answer c.Social Security Withholdings.
Money used to make transfer payments from the government to individuals comes from:
a.The Federal Reserve.
b.Taxes and Borrowing.
c.Revenue Generated from Oil and Gas Permits.
d.Interest Earned on the Social Security Trust Funds. - Answer b.Taxes and Borrowing.
Lionel recently lost his job at a local factory. Unfortunately, he has also been
experiencing several severe health challenges. The expenses associated with his
medical issues have depleted his savings. Which of the following governmental benefits
could Lionel apply to for help with his medical expenses?
a.Medicare.
b.Social Security.
c.Sick and Casualty Coverage.
d.Medicaid. - Answer d.Medicaid.
Someone who qualifies for Medicaid may also be eligible for:
a.Supplemental Nutrition Assistance Program Benefits.
, b.Temporary Assistance for Needy Families Benefits.
c.Refundable Tax Credits.
d.All of the Above. - Answer d.All of the Above.
All of the following are related to a person's current income, except:
a.Social Security benefits.
b.Temporary Assistance for Needy Families.
c.Supplemental Nutrition Assistance Program.
d.Education Grants and Loan Subsidies. - Answer d.Education Grants and Loan
Subsidies
Nearly every working adult living in the United States contributes to the Social Security
system. How can someone access Social Security benefits?
a.Be at least age 62 and retired.
b.Become permanently disabled.
c.Apply as soon as 40 credits have been achieved.
d.Both a and b. - Answer d.Both a and b.
Linda earns $83,000 as an employee per year. How much will she pay this year in Social
Security taxes?
a.$6,349.50
b.$5,146.00
c.$1,203.50
d.$0 because she is not retired. - Answer b.$5,146.00
All of the following are employer provided benefits except:
a.Social Security.
b.Wages.
c.Health Insurance
d.Sick and Holiday Pay. - Answer a.Social Security.
How are Social Security benefits currently funded and paid to beneficiaries?
