1. Workers born before 1938 have a full retirement age of 65. What is the highest full retirement age? In other words, under current law, workers born in 1960 or later will reach their Social Security full retirement at age:

Select one:

a. 65

b. 66

c. 67

d. 70

2.

Which of the following is (are) true?

I. For persons with substantial income in addition to Social Security benefits, as much as 85% of their annual benefits may be subject to federal income tax.

II. FICA taxes are divided into Social Security and Medicare portions. The Medicare portion is 1.45% for the employee and 1.45% for the employer.

Select one:

a. I only

II only

b. II only

c. Both I and II

d. Neither I nor II