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1.
Which of the following is true regarding Social Security benefit payments?
Social Security earnings are based on the average of 35 years of earnings. The lowest five years in the last 40 are dropped.
2.
At age 65 and older, a single woman is at more risk of living in poverty than a married woman is.
True. Married women are less likely to live in poverty.
3.
Which of the following is a true statement?
Secondary insurance covers the co-payment not covered by Medicare. Your portion of a doctor's bill not covered by Medicare, or your co-insurance portion, can be covered by secondary insurance.
4.
Which of the following is false?
A woman may have lower retirement benefits because she retired before she was vested. She would have no retirement benefits unless she waits until she is vested to retire.
5.
Renter's insurance is more expensive than homeowner's.
False. The difference in this insurance is just one of the ways you can save money by renting rather than owning.