All of the Following Statements About Social Security Are Accurate

question 38

Multiple Choice

All of the following statements about Social Security are accurate EXCEPT:

• A) the program is funded by payroll taxes which both the employee and employer pay.
• B) it is intended to fully provide retirement or disability income to retired or disabled workers.
• C) upon retirement an employee receives Social Security based on a percentage of their average lifetime earnings.
• D) most individuals must work for at least 10 years in order to receive full credit towards the program.
• E) it is a tax which is considered part of an employee's FICA tax that is withheld from their paycheck.

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Definitions:

Differential Compound

When the series and shunt field are connected in such a manner as to oppose each other in the production of magnetism.

Shunt Field

The winding of a generator or motor that is connected in parallel with the armature, used to regulate the machine's voltage or speed.

Armature

The rotating coil or core in a motor or generator, on which the voltage is induced by magnetic fields.

Direction of Rotation

The clockwise or counterclockwise movement of an object, such as a motor or wheel, typically described from an observational standpoint.