RSSA Module 3 - EXAM
Terms in this set (40)
Which of the following factors Fewer retirees are receiving defined benefit pension plans
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
Sophia and James are $4,872
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
,Carter and Ella are married, Up to 50%
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%
Which of the following is true? Some people will pay no tax on their Social Security benefits
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
RMD rules about withdrawals RMDs are required from traditional IRAs, SEP IRAs, SIMPLE IRAs, and
from retirement funds include Roth IRAs
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
Which of the following is not Savings
considered to be a source of
dependable income?
Pensions
Social
Security
Rental
income
Savings
Terms in this set (40)
Which of the following factors Fewer retirees are receiving defined benefit pension plans
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
Sophia and James are $4,872
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
,Carter and Ella are married, Up to 50%
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%
Which of the following is true? Some people will pay no tax on their Social Security benefits
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
RMD rules about withdrawals RMDs are required from traditional IRAs, SEP IRAs, SIMPLE IRAs, and
from retirement funds include Roth IRAs
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
Which of the following is not Savings
considered to be a source of
dependable income?
Pensions
Social
Security
Rental
income
Savings
