Old Age Security Benefits

question 127

Multiple Choice

Old Age Security benefits

• A)cannot be claimed before age of 65.
• B)are clawed back for people whose income is above $50,000.
• C)can be claimed at age 60, but at a reduced amount.
• D)are a non taxable benefit.

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Definitions:

Call Provision

A clause in a bond's contract that allows the issuer to repurchase and retire the debt before its maturity date, usually at a premium price.

Bond Issuer

An entity, often a corporation or government, that issues debt securities to raise funds.

Fisher Effect

A theory proposing that the real interest rate is equal to the nominal interest rate minus the expected inflation rate, emphasizing the relationship between inflation and real and nominal interest rates.

Nominal

Referring to amounts or prices that have not been adjusted for inflation, representing face value rather than real value.