Chartered Retirement Planning Counselor (CRPC) Practice Exam

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Prepare for the Chartered Retirement Planning Counselor Exam. Engage with flashcards and multiple choice questions, each with hints and explanations. Get ready for your certification!

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What percentage of her own benefit is Jill eligible to receive from Social Security?

  1. 50%

  2. 75%

  3. 100%

  4. 125%

The correct answer is: 100%

Jill is eligible to receive 100% of her own benefit from Social Security because the Social Security Administration calculates benefits based on an individual's earnings history and the number of years they have paid into the Social Security system. When an individual reaches their full retirement age, they are entitled to receive the entire amount of their calculated benefit, which is typically based on the highest 35 years of earnings. Receiving 100% of her own benefit allows Jill to maximize her income during retirement. Any percentages lower than this, such as 50%, 75%, or any amount greater than her calculated benefit, would imply that she is taking benefits that are either reduced or based on another individual’s earnings record, which applies in cases of spousal or survivor benefits but does not apply when she is drawing from her own work history. Hence, Jill's eligibility for 100% accurately reflects her rights under the Social Security laws regarding her own earned benefits.