Question

1) All but one of the following would be considered a source of guaranteed (systematic) income....

1)

All but one of the following would be considered a source of guaranteed (systematic) income. Which one is NOT considered “guaranteed income?”

Group of answer choices

withdrawals from a bond ladder

monthly payout from a life annuity, which was purchased from an insurance company

distributions from an employer’s defined benefit (pension) plan

monthly Social Security benefits

dividends and capital gains from the equity portfolio

2) Which of the following statements regarding Social Security retirement benefits is INCORRECT?

Group of answer choices

A worker is fully insured for retirement benefits after 40 quarters of employment.

A fully-insured worked can begin to take out retirement benefits at age 62 and receive 100% of their primary insurance amount (PIA).

You may elect to defer Social Security claiming all the way up to 70 years of age, in which case your monthly benefit would increase.

Social Security benefits may be taxed as ordinary income, if income (modified adjusted gross income plus one-half of the Social Security benefit) exceeds the Social Security tax threshold.

3)

Which of the following statements best explain longevity insurance?

Group of answer choices

Longevity insurance is another name for life insurance.

Longevity insurance is a deferred annuity, which doesn’t start to provide monthly benefits until an advanced age (e.g., age 85).

Longevity insurance is a form of comprehensive healthcare.

Longevity insurance is a form of life cycle investing, which shifts the investment portfolio from growth to income.

Homework Answers

Answer #1

1) Dividends and Capitalgains from an Equity Portfolio is NOT Considered as Guaranteed Income as it is involving Risks and based on the company performance only we can get.

2) A fully-insured worked can begin to take out retirement benefits at age 62 and receive 100% of their primary insurance amount (PIA).

3) Longevity insurance is a deferred annuity, which doesn’t start to provide monthly benefits until an advanced age (e.g., age 85). For example, a person might pay $20,000 from his or her retirement savings at age 60 to purchase longevity insurance that would pay $11,803 per year starting at age 85 and continuing until death.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Hi this is questions about Employee Benefit and Group Insurance please answer them as soon as...
Hi this is questions about Employee Benefit and Group Insurance please answer them as soon as possible I need to know the way that you follow to get the answers of the equation question . please explain the way that you get the correct number 20) If an individual who first becomes eligible for old-age insurance benefits or disability insurance benefits in 2016 and with an average indexed monthly earning $6000. How much is his initial monthly primary insurance amount?(...
All of the following statements concerning disability income insurance are correct EXCEPT: Group of answer choices...
All of the following statements concerning disability income insurance are correct EXCEPT: Group of answer choices Premiums for disability income insurance coverage are a function of the insured's health, gender, age, and the level of income benefits provided by the policy. To qualify for disability income, one must become totally disabled while the policy is in force and remain so until the elimination (exclusion) period has ended. A policy that integrates with Social Security will reduce payable benefits by the...
Which of the following statements concerning Social Security is/are correct? Worker's entitled to retirement benefits can...
Which of the following statements concerning Social Security is/are correct? Worker's entitled to retirement benefits can currently take early retirement benefits as early as age 55 if they are separated from service. A worker who takes early retirement benefits will receive a reduced benefit because he or she is expected to receive more monthly benefit payments, as payments commence earlier than if the worker had waited and retired at full retirement age. 1 only. 2 only. Both 1 and 2....
11. The following types of income are generally taxable except:            Group of answer choices a. Rental...
11. The following types of income are generally taxable except:            Group of answer choices a. Rental income c. Life Insurance Death Benefits b. Dividends d. Prizes and awards 12.Social Security benefits are always considered taxable income. Group of answer choices True False 13.All tax credits are refundable. Group of answer choices True False 14.Deductions are generally more favorable to taxpayers than credits. Group of answer choices True False 15.All taxpayers are eligible for the earned income tax credit. Group of...
Jordan, age 46, currently makes $143,000. She expects that inflation will average 2.75 percent for her...
Jordan, age 46, currently makes $143,000. She expects that inflation will average 2.75 percent for her entire life expectancy. She expects to earn 8.5 percent on her investments and retire at age 65 and live to age 92. She has sent for and received her Social Security benefit statement, which indicated that her Social Security retirement benefit in today’s dollars adjusted for early retirement is $20,000 per year. It is reasonable to subtract the Social Security benefit from today’s needs...
26.[Credit life | Group] insurance is one of the most expensive forms of life insurance. 27.A...
26.[Credit life | Group] insurance is one of the most expensive forms of life insurance. 27.A guaranteed purchase option is when an insured sells an interest in the life insurance policy to an investor, who then becomes the policy's beneficiary. True/FAlse 28. The needs analysis method of determining the amount of life insurance considers a. debt liquidation. b. extra expenses if income producer dies. c. needed income. d. special needs of dependents. e. All of these choices are correct. 32.Changing...
Which of the following statements is false? Group of answer choices Hobby losses are allowed, thereby...
Which of the following statements is false? Group of answer choices Hobby losses are allowed, thereby reducing other taxable income . Social Security benefits may be partially taxable, depending on the taxpayer's modified AGI. All sources of income are taxable unless specifically excluded by the Internal Revenue Code. The double benefit rule states that a taxpayer cannot benefit twice from the same tax item.
Select all of the Following that would most likely be considered a Sunk Cost. Group of...
Select all of the Following that would most likely be considered a Sunk Cost. Group of answer choices Cost of the Salary for the Newly Hired VP of Production Cost of Truck Purchased for Deliveries to Customers Cost of Land Purchased to Build a Factory Cost of Monthly Rental of a Forklift for the Factory Cost of Office Equipment in the Accounting Department Cost of the Monthly Fixed Cost for Internet Service Which One is True ? Group of answer...
Question 1 (1 point) Ray died this year at age 73, and his wife, Mary, age...
Question 1 (1 point) Ray died this year at age 73, and his wife, Mary, age 55, is the designated beneficiary on his Roth IRA. Ray's Roth IRA was established 3 years ago. Which of the following statements is(are) CORRECT? I Ray was not subject to required minimum distributions from his Roth IRA during his lifetime. II If Mary chooses to distribute the entire balance of the Roth IRA this year, the distribution may be subject to both regular income...
6. Which one of the following statements about income is correct? Group of answer choices Income...
6. Which one of the following statements about income is correct? Group of answer choices Income can be in the form of decreases of liabilities. Increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims. Income may arise when there is control over the increase in economic benefits. Income may arise from the recognition of an increase in the value of assets.