"The Unexamined Life is Not Worth Living"

Today in class, someone quoted Socrates, "The unexamined life is not worth living." I believe this quote can be interpreted in a number of ways.

First off, the way Socrates would have wanted his philosophy to be interpreted. What did he mean by unexamined? There are many different definitions for examined today (carefully observed, tested, legal inquistion, etc); however did examine have a different definition when Socrates used it? What/whose life is Socrates talking about? Is he talking about one's (let's say mine) life, or life in general?

I also think that one can possibly overexamine their life (or maybe someone else's) to some aspect. So, how do you know if you've examined your life enough, Socrates? When is it worth living?

The way I interpreted the quote is such that one should question everything. Do not take everything in without an answer for why it is the way it is. I strongly disagree that anyone can say someone's life is not worth living. It does not matter your political, religious, moral, ethical, racial, gender, or sexual orientation standing. This is kind of a rant and off topic.