Which of the Following Is NOT True Regarding Social Security

question 5

Multiple Choice

Which of the following is NOT true regarding Social Security?

• A)In 2013,more than 57 million Americans received Social Security benefits.
• B)Workers contributed 7.65 percent of their gross paycheck (capped at $102,000)into the fund,which is matched by their employers.
• C)Critics of Social Security argue that the program is unnecessary,as most workers have dedicated retirement savings.
• D)Nine out of every ten individuals over the age of 65 receives a Social Security check.

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Definitions:

Deductibles

Deductibles are the amounts that insured individuals must pay out of pocket for covered services before their insurance begins to pay.

Premiums

Payments made for insurance coverage or additional costs above the standard price.

Franchisees

Individuals or companies that purchase the rights to operate a branch of a larger company or brand, using the franchisor’s trademarks, systems, and business model.

Moral Hazard

The tendency of individuals or institutions to take on more risk when they know that they will not have to bear the full consequences of their actions.