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 employers 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 doesnt 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.