New Jersey Life Insurance Exam Practice Question
Social Security is officially titled
Correct Answer: A
Rationale: Social Security is officially known as Old Age, Survivors, and Disability Insurance (OASDI), which accurately reflects its three primary components: benefits for retirees (Old Age), support for families after a wage earner's death (Survivors), and assistance for individuals with disabilities (Disability Insurance).
Option B, Old Age and Disability Insurance (OADI), omits the Survivors component, misrepresenting the program's scope. Option C, Old Age and Survivors (OAS), fails to include Disability Insurance, an essential aspect of Social Security. Option D, Survivors and Disability Insurance (SDI), excludes the Old Age benefits, which are crucial for retirees. Thus, only A encompasses all elements of the program.
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