As of This Year,Brad,age 50,has 40 Credits Under the Social

question 8

Multiple Choice

As of this year,Brad,age 50,has 40 credits under the Social Security program.These credits were all earned in the last 10 years.What is Brad's insured status under the program?

• A)He is currently and fully insured.
• B)He is currently insured,but not fully insured.
• C)He is fully insured,but not currently insured.
• D)He is neither currently insured nor fully insured.

---

Definitions:

Time Value of Money Concept

The idea that money available at the present time is worth more than the same amount in the future due to its potential earning capacity.

Dollar Today

The current value of the US dollar against a basket of foreign currencies, affecting import and export prices.

Equal Cash Flow

Recurrent inflow or outflow of cash that is the same in amount for each period.

Annuity

A financial product that pays out a fixed stream of payments to an individual, typically used as part of retirement planning.