Complete Test Bank 7e Later Life Work, Retirement, Ch.10

Chapter 10

Later Life Work, Retirement,

and Economic Security

Multiple Choice Questions

1. Who is most likely to work beyond age 65?
   1. Women
   2. Poorly educated people
   3. Self-employed people
   4. Those employed in manufacturing and fabrication

Page: 317

1. What is the average age of retirement in Canada?
   1. 61.5 years
   2. 63 years
   3. 65 years
   4. 68.5 years

Page: 317

1. Which of the following statements is false?
   1. The Canadian labour force is becoming more highly educated
   2. The Canadian labour force is shrinking in size.
   3. There is a trend towards earlier retirement by older workers.
   4. Women are more likely than men to work beyond 65 years of age.

Page: 317

1. Which of the following statements regarding women in the labour force is true?
   1. Women are less likely to leave the labour force if they are required to care for a frail parent.
   2. Married women are more likely to work, to work full time, and to work later in life.
   3. Women entering the labour force today face more discrimination than previous cohorts.
   4. Career paths for women are closely linked to family responsibilities.

Page: 320-321

1. After years without a promotion, Sandra took an early retirement package when her employer downsized her position and pressured her to take the package instead of re-training. After doing so, she decided to go back to school for a Master’s degree in her field because she wasn’t ready to stop working. After graduating at 58, she found there were fewer opportunities for older workers in her field and no one was willing to hire her. What is Sandra most likely experiencing?
   1. Feminization of poverty
   2. Inequality
   3. Age discrimination
   4. Market decline

Page: 321

1. Which of the following statements about older workers is true?
   1. The stereotypes surrounding older workers are often a function of the age of the evaluator.
   2. Productivity declines with age.
   3. Declines in physical or cognitive ability are rarely fully compensated for by experience in the labour force.
   4. Attitudes towards older workers are expected to get worse as the workforce continues to age.

Page: 322

1. Which of the following is a limitation of the largely successful Targeted Initiative for Older Workers (TIOW) program?
   1. There was a too much formal, ongoing support following the end of participation in the program.
   2. There was a lack of formal, ongoing support following the end of participation in the program.
   3. Many of the program activities decreased job seekers’ self-efficacy beliefs.
   4. Many of the program activities strengthened job seekers’ self-efficacy beliefs.

Page: 324

1. What is the contingent workforce?
   1. Working casually or seasonally through short-term contracts or consulting, leading to retirement
   2. Working for lower pay in order to avoid being laid off or forced into retirement
   3. Working in positions that rely on collective bargaining for pay, benefits, and retirement options
   4. Working for a salary provided by social security payments rather than by the employer

Page: 325

1. Which of the following is true for women preparing for retirement compared to men?
   1. Women retire with more financial resources.
   2. Women reach retirement with a less linear work history.
   3. Women and men have a similar work and family history.
   4. Women are more prepared for retirement.

Page: 330

1. Which of the following is true for women preparing for retirement compared to men?
   1. Women retire with more financial resources.
   2. Women reach retirement with a less linear work history.
   3. Women and men have a similar work and family history.
   4. Women have more preparation for retirement.

Page: 330

1. The Pension Act of 1918 provided financial assistance to whom?
   1. Men only
   2. Wealthy people only
   3. War veterans only
   4. Government employees only

Page: 331

1. What was the first truly universal pension plan in Canada?
   1. Old Age Security
   2. The Canada Pension Plan
   3. The Old Age Pension Act
   4. The Guaranteed Income Supplement

Page: 331

1. Most pension systems are designed to replace approximately what percentage of a person’s pre-retirement income?
   1. 30 per cent
   2. 50 per cent
   3. 70 per cent
   4. 90 per cent

Page: 332

1. Which of the following statements about pension income is true?
   1. An income security system helps eliminate income inequality later in life.
   2. The current economic and social security systems are likely to become bankrupt in the future.
   3. CPP/QPP beneficiaries can expect to receive approximately 50 per cent of their average pre-retirement wage.
   4. The income security system is more generous to those at or near the bottom of the socio-economic scale.

Page: 332

1. Which of the following is not an aspect of private retirement plans?
   1. Employer/employee contributions
   2. Individual savings
   3. Canada Pension Plan contributions
   4. Investments

Page: 332-339

1. What are the two types of employer pension plans?
   1. Registered retirement savings plans (RRSPs) and defined savings plans (DSPs)
   2. Defined retirement plans (DRPs) and retirement savings plans (RSPs)
   3. Defined benefit plans (DBs) and defined contribution plans (DCs)
   4. Registered retirement savings plans (RRSPs) and defined benefit plans (DBs)

Page: 334

1. At what age is an older citizen eligible for Old Age Security benefits?
   1. 60
   2. 65
   3. 67
   4. 70

Page: 336

1. Increased affluence and health among older adults has led to increased advertising and to the marketing of products for which market?
   1. The boom market
   2. The grey market
   3. The capitalist market
   4. The aging market

Page: 341

1. Which of the following is true with regards to women’s working lives compared to men’s?
   1. They earn more.
   2. They save more.
   3. They invest less.
   4. They own more property.

Page: 342

1. Which of the following has caused an improvement in the economic situation of older women?
   1. Lower education levels
   2. Shorter periods in full-time jobs
   3. More wage discrimination
   4. Increased pension eligibility

Page: 342

1. Which term refers to the gender gap that makes women particularly at risk of living in poverty?
   1. Lady-poor
   2. Economic femininity
   3. Feminization of poverty
   4. Gender ghetto

Page: 342

1. Which of the following have been used as a measure of poverty?
   1. LICO and GDP
   2. LICO and LIM
   3. GNP and GDP
   4. LIM and GDP

Page: 344-346

1. Which measure of poverty is not an absolute measure of poverty but, rather, a relative measure of how individuals or subgroups of the population compare at a given time?
   1. The low-income cut-off
   2. The low-income measure
   3. The low-income after-tax measure
   4. The market basket measure

Page: 344

1. Which of the following factors increases the likelihood of poverty in later life?
   1. High levels of education
   2. Good health
   3. Living as a couple
   4. Being female

Page: 347

1. Which approach merely pits one generation against another, and oversimplifies multi-faceted aging processes?
   1. Generational conflict approach
   2. Ecological approach
   3. Ageist approach
   4. Policy-centric approach

Page: 348

True or False Questions

1. Retirement emerged as a social institution with the establishment of social security payments in welfare states.

Page: 325

1. Most research finds that more than 70 per cent of respondents have a great deal of trouble adjusting to retirement.

Page: 329

1. Men are more likely than women to work beyond 65 years of age.

Page: 317

1. Today, there is increased individualization of the work life.

Page: 314

1. Many young people today are entering the labour force at a later age than their parents did.

Page: 316

1. The participation rate of women in the labour force has decreased dramatically in the past few decades.

Page: 319

1. The Canadian labour force is shrinking in size.

Page: 317

1. People with less education are more likely to work past the age of 65.

Page: 317

1. Productivity in the work force is inversely associated with age.

Page: 322

1. There is no longer a biological or social basis for those in their 40s and 50s to be considered “older workers.”

Page: 321

1. Declines in physical or cognitive ability in older workers are often compensated for by experience.

Page: 322

1. Attitudes towards older workers are expected to get worse as the workforce continues to age.

Page: 322

1. Discrimination against older workers is due largely to their personal abilities and chronological age.

Page: 322

1. Studies show that productivity declines with age.

Page: 322

1. Mandatory retirement can be described as an exit strategy to move older workers out of the workforce.

Page: 319

1. Most Canadian provinces set a mandatory retirement age between ages 65 and 68.

Page: 321

1. Negative attitudes about retirement are often based on a fear of financial difficulties in retirement.

Page: 327

1. Economic security in later life is both a private and a public issue.

Page: 330-324

1. The provision of economic security in later life was designed to shift responsibility from the state to the individual.

Page: 331

1. Most pension systems are designed to replace 25 per cent of an individual’s pre-retirement income.

Page: 332

1. Private retirement plans include individual savings.

Page: 334

1. The economic status of Canadians has been declining over time.

Page: 339

1. Many older people report that their basic need for goods and services decreases with age.

Page: 341

1. Women who were separated or divorced at age 45 or older were more likely to be poor later in life than either married women or men who divorced or separated in middle or later life.

Page: 342

1. Canada has a high rate of seniors living below the low-income measure when compared to Australia, Germany, and Sweden.

Page: 346

Short Answer Questions

1. What are the patterns resulting from recent transformations in the work force?

Page: 314–315

1. Is the labour force greying? Explain.

Page: 317

1. What are some of the demographic patterns related to delayed retirement?

Page: 318

1. How can the projected shortfalls in labour supply over the next decades be offset?

Page: 318–319

1. What interventions by employers have been proposed to retain or recruit older workers?

Page: 319, 322

1. What are the features of the participation of women (and older women, in particular) in the labour force?

Page: 319

1. What factors contribute to the complexity of retirement transitions for women?

Page: 320

1. How do governmental agencies often define “older workers?” What is potentially problematic about this definition?

Page: 321

1. What characterizes age discrimination in the Canadian workforce?

Page: 321

1. Are older workers as useful as younger ones? Support your answer.

Page: 321-322

1. What are four individual factors influencing retirement decisions and lifestyles?

Page: 326

1. What factors help retired men and women adjust?

Page: 329

1. What are the differences in retirement trends between men and women? How are women at a disadvantage when it comes to retirement?

Page: 330

1. Is there economic security for today’s older Canadians?

Page: 330-331

1. What are the three levels of Canada’s retirement support system?

Page: 332-337

1. In regards to our retirement system, what challenges will Canada face in the next 20 to 30 years?

Page: 331-332

1. What are the four options needed to maintain or enhance the economic viability of a public pension system?

Page: 338

1. What characterizes the economic status of older people in Canada?

Page: 339–340

1. What is the “feminization of poverty”?

Page: 342

1. In terms of pension reform, what are some of the proposed solutions to enhance benefits for women?

Page: 330–331

1. In Canada, what is the extent of poverty among older people?

Page: 344

1. What is the most common and oldest measure of relative poverty in Canada?

Page: 344

1. What is the low-income measure (LIM)?

Page: 346

1. What is an example of an absolute measure of poverty? Briefly describe how this measure assesses poverty.

Page: 346

1. What is the Targeted Initiative for Older Workers? How effective is this program?

Page: 324