RSSA Module 3 – EXAM QUESTIONS
WITH 100% SOLVED ANSWERS!!
Which of the following factors contribute to the increased importance of optimizing
Social Security income for most retirees?
Life expectancy has decreased
Fewer retirees are receiving defined benefit pension plans
Retirees generally have a high rate of savings
The rise in two-income households decreases the longevity risk for survivors – Answer
Fewer retirees are receiving defined benefit pension plans
Sophia and James are married and have fras of 67. Sophia's PIA is $1,000 and James'
is $2,800. If Sophia claims at FRA and James claims at age 70, what will their monthly
Social Security income be?
$4,472
$4,200
$3,800
$4,872 – Answer $4,872
Carter and Ella are married, both have fras of 67, and have an AGI of $15,000. Carter's
PIA is $1,350 and Ella's is $2,100. If they both claim at age 66, how much of their Social
Security income will be subject to taxation?
None
Up to 50%
Up to 85%
100% - Answer Up to 50%
, Which of the following is true?
Everyone will pay at least some tax on their Social Security benefits
The amount of beneficiaries paying tax on their benefits is decreasing each year
The taxes paid based on Social Security benefits go into the general treasury fund
Some people will pay no tax on their Social Security benefits – Answer Some people
will pay no tax on their Social Security benefits
RMD rules about withdrawals from retirement funds include all of the following except
which statement?
A RMD is the minimum amount retirees must withdraw from their employer sponsored
retirement accounts each year
Rmds are required from traditional iras, SEP iras, SIMPLE iras, and Roth iras
Rmds are determined by dividing the prior year-end fair market value of the retirement
account by the applicable distribution period or life expectancy
Distributions may be taken earlier than age 73 but may then be subject to an additional
penalty tax – Answer rmds are required from traditional iras, SEP iras, SIMPLE iras,
and Roth iras
Which of the following is not considered to be a source of dependable income?
Pensions
Social Security
Rental income
Savings – Answer Savings
Choose the statement below that best reflects the current state of the Social Security
program.
The Social Security program is expected to run out of surplus funding in the 2030s
WITH 100% SOLVED ANSWERS!!
Which of the following factors contribute to the increased importance of optimizing
Social Security income for most retirees?
Life expectancy has decreased
Fewer retirees are receiving defined benefit pension plans
Retirees generally have a high rate of savings
The rise in two-income households decreases the longevity risk for survivors – Answer
Fewer retirees are receiving defined benefit pension plans
Sophia and James are married and have fras of 67. Sophia's PIA is $1,000 and James'
is $2,800. If Sophia claims at FRA and James claims at age 70, what will their monthly
Social Security income be?
$4,472
$4,200
$3,800
$4,872 – Answer $4,872
Carter and Ella are married, both have fras of 67, and have an AGI of $15,000. Carter's
PIA is $1,350 and Ella's is $2,100. If they both claim at age 66, how much of their Social
Security income will be subject to taxation?
None
Up to 50%
Up to 85%
100% - Answer Up to 50%
, Which of the following is true?
Everyone will pay at least some tax on their Social Security benefits
The amount of beneficiaries paying tax on their benefits is decreasing each year
The taxes paid based on Social Security benefits go into the general treasury fund
Some people will pay no tax on their Social Security benefits – Answer Some people
will pay no tax on their Social Security benefits
RMD rules about withdrawals from retirement funds include all of the following except
which statement?
A RMD is the minimum amount retirees must withdraw from their employer sponsored
retirement accounts each year
Rmds are required from traditional iras, SEP iras, SIMPLE iras, and Roth iras
Rmds are determined by dividing the prior year-end fair market value of the retirement
account by the applicable distribution period or life expectancy
Distributions may be taken earlier than age 73 but may then be subject to an additional
penalty tax – Answer rmds are required from traditional iras, SEP iras, SIMPLE iras,
and Roth iras
Which of the following is not considered to be a source of dependable income?
Pensions
Social Security
Rental income
Savings – Answer Savings
Choose the statement below that best reflects the current state of the Social Security
program.
The Social Security program is expected to run out of surplus funding in the 2030s
