CA LIFE PSI Exam with Study Questions and Answers

CA LIFE PSI Exam with Study Questions and Answers What determines the Social Security normal retirement age? ANSWER Year in which worker was born Which statement is not true regarding Social Security benefits? ANSWER Benefits are designed to replace the entire amount of the workers earnings At what age is a surviving spouse without dependents eligible for Social Security survivor benefits? ANSWER 60 In order to be considered "currently insured" under Social Security, an individual must be credited with: ANSWER 6 quarters of coverage during the last 13-quarter period A worker is entitled to Social Security disability benefits if all of the following are true EXCEPT for ANSWER Worker cannot perform his or her current job, but is actively seeking other employment According to the California Insurance Code, what is "insurance"? ANSWER A contract A representation may be altered or withdrawn ANSWER only before the insurance is in effect