Question

Social Security provides payments for

	a.	survivor's benefits for spouses who are age 60 and older and have a dependent child.
	b.	survivor's benefits for eligible dependent children.
	c.	benefits to retired people who had worked at least ten years.
	d.	all of the above
	e.	none of the above

To maximize the effectiveness of saving for retirement, the employed individual should

	a.	begin to invest as soon as possible and invest in bonds, stocks, or mutual funds.
	b.	begin to invest as soon as possible and invest in bank deposits.
	c.	begin to invest in middle-age and invest in bonds, stocks, and mutual funds.
	d.	begin to invest in middle-age and invest in bank deposits.
	e.	contribute regularly to Social Security to establish that fund as your predominant income upon retirement.

Which of the following does not lead to invalidating the terms of an existing will?

	a.	a legal codicil made by the person that expressly puts forth changes.
	b.	the person not having witnesses when signing his/her will.
	c.	definitive evidence that the person was not of sound mind when making his/her will.
	d.	a divorce recognized by law.
	e.	construction of a new will that supersedes the previous will.

Answer 1

1)Social Security provides payments for

The answer is option d. As all the options (a,b and c )are correct. In general benefits are categorised into

a)Retirement Benefits

b)Disability Benefits

c)Survivors Benefits

2)To maximize the effectiveness of saving for retirement, the employed individual should

e) contribute regularly to Social Security to establish that fund as your predominant income upon retirement

Other options don't maximise the effectiveness of savings because when one invest in Stocks, Bonds, Mutal Fund one may end up loosing money too. However, investing in Social Security gurantees return upon retirement.

3)Which of the following does not lead to invalidating the terms of an existing will?

a divorce recognized by law does not lead to invalidating terms of existing will. While for other options will are invalidated.