Question 1

A characteristic of dental insurance is

Accepted Answer

A)  high cost. 
B)  dentist financing. 
C)  high deductible limits. 
D)  lack of orthodontic coverage. 
E)  low maximum limits. 
A)  high cost. 
B)  dentist financing. 
C)  high deductible limits. 
D)  lack of orthodontic coverage. 
E)  low maximum limits.

Question 2

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-Health Maintenance Organizations (HMOs)provide pre-paid health care to participants.

Accepted Answer

A) True 
 B)False

Question 3

Long-term care insurance provides protection against the cost of extended hospital stays.

Accepted Answer

A) True 
 B)False

Question 4

Disability income insurance will provide income to a disabled or ill person

Accepted Answer

A)  without a waiting period. 
B)  with unlimited funds for years. 
C)  with a waiting period before income is received. 
D)  with payments made to the recipient for up to age 70. 
E)  none of the above. 
A)  without a waiting period. 
B)  with unlimited funds for years. 
C)  with a waiting period before income is received. 
D)  with payments made to the recipient for up to age 70. 
E)  none of the above.

Question 5

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-Medicare and Medicaid are hospital and physicians coverage,respectively.

Accepted Answer

A) True 
 B)False

Question 6

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-One complaint about HMOs,as compared to traditional indemnity plans,is that [the cost is expensive | the care is not available for major illnesses].

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 7

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-Your health insurance will usually pay [the same | less] for mental health problems compared to physical problems.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 8

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-If an employee could afford additional health insurance coverage in addition to group coverage,most should purchase [dental | disability income] insurance.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 9

Which of the following statements is true about the means (income)testing for Medicare?

Accepted Answer

A)  there are strictly enforced income limits that are based on federal standards but may vary slightly by state. 
B)  limits apply to the amount of counted assets individuals can have,but they are routinely overlooked. 
C)  means testing is intended to ensure that only the truly needy get access to Medicare. 
D)  there is an asset test and an income test. 
E)  Medicare is not income tested. 
A)  there are strictly enforced income limits that are based on federal standards but may vary slightly by state. 
B)  limits apply to the amount of counted assets individuals can have,but they are routinely overlooked. 
C)  means testing is intended to ensure that only the truly needy get access to Medicare. 
D)  there is an asset test and an income test. 
E)  Medicare is not income tested.

Question 10

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part A covers

Accepted Answer

A)  hospital expenses. 
B)  doctor's bills. 
C)  custodial nursing home expenses. 
D)  prescription drugs. 
E)  all of the above. 
A)  hospital expenses. 
B)  doctor's bills. 
C)  custodial nursing home expenses. 
D)  prescription drugs. 
E)  all of the above.

Question 11

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-Pre-existing conditions will [never be covered | usually be covered after one or two years] by your health insurance policy.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 12

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-You would have a better chance to choose your own doctor with a PPO rather than an HMO.

Accepted Answer

A) True 
 B)False

Question 13

Comprehensive major medical simply increases the policy limits of major medical insurance without changing the coverage.

Accepted Answer

A) True 
 B)False

Question 14

Gabe is 58 years old and has been dependent on a cane for a couple of years.Gabe fears that he may need long term care services some day in the future.His net worth is $400,000 and he receives $50,000 per year in a pension.He considers himself to be in excellent health and has never had a serious health scare like a heart attack,stroke,or cancer.He eats lots of bran and exercises regularly.Which of the following policies would you recommend to Gabe?

Accepted Answer

A)  Gabe needs a disability income policy. 
B)  Gabe should buy a long term care policy with a long elimination period,lifetime benefits,and a COLA. 
C)  Gabe should buy a long term care policy with a five-year limit,short elimination period without a COLA. 
D)  Gabe doesn't need disability insurance and probably can't qualify for long term care insurance. 
E)  Gabe can qualify for Medicaid if and when he needs long term care services. 
A)  Gabe needs a disability income policy. 
B)  Gabe should buy a long term care policy with a long elimination period,lifetime benefits,and a COLA. 
C)  Gabe should buy a long term care policy with a five-year limit,short elimination period without a COLA. 
D)  Gabe doesn't need disability insurance and probably can't qualify for long term care insurance. 
E)  Gabe can qualify for Medicaid if and when he needs long term care services.

Question 15

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement.
-Your health insurance stipulates that you will pay the first $500 of your health care expenses for the year.This is an example of a [deductible | co-payment].

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 16

Disability income insurance provides benefits that are designed to

Accepted Answer

A)  pay for hospital care costs from injuries. 
B)  substitute for lost income. 
C)  cover hospital care costs from illness. 
D)  substitute for social security disability benefits. 
E)  supplement retirement income for the elderly. 
A)  pay for hospital care costs from injuries. 
B)  substitute for lost income. 
C)  cover hospital care costs from illness. 
D)  substitute for social security disability benefits. 
E)  supplement retirement income for the elderly.

Question 17

Which of the following is most likely to need and be able to obtain a long-term care policy?

Accepted Answer

A)  Mike is 35,in excellent health,single and makes $56,000 per year. 
B)  Clare is 47,in poor health (cancer),married and makes $27,000 per year. 
C)  Gail is 78,has been diagnosed with senile dementia,and is retired with a net worth of $500,000. 
D)  Steve is 56,in good health,makes $75,000 per year and has a net worth of $750,000. 
E)  Ava is 63,married,makes $73,000 per year and has a net worth of $4,000,000 
A)  Mike is 35,in excellent health,single and makes $56,000 per year. 
B)  Clare is 47,in poor health (cancer),married and makes $27,000 per year. 
C)  Gail is 78,has been diagnosed with senile dementia,and is retired with a net worth of $500,000. 
D)  Steve is 56,in good health,makes $75,000 per year and has a net worth of $750,000. 
E)  Ava is 63,married,makes $73,000 per year and has a net worth of $4,000,000

Question 18

Jackie pays $20 every time she visits her doctor.She is covered by a(n)

Accepted Answer

A)  HMO 
B)  IPA 
C)  PPO 
D)  Indemnity plan 
E)  Could be any of these except the indemnity plan. 
A)  HMO 
B)  IPA 
C)  PPO 
D)  Indemnity plan 
E)  Could be any of these except the indemnity plan.

Question 19

Mental illness is normally not covered in health insurance policies.

Accepted Answer

A) True 
 B)False

Question 20

Most disabilities are permanent.

Accepted Answer

A) True 
 B)False

A characteristic of dental insurance is

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Health Maintenance Organizations (HMOs)provide pre-paid health care to participants.

Long-term care insurance provides protection against the cost of extended hospital stays.

Disability income insurance will provide income to a disabled or ill person

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Medicare and Medicaid are hospital and physicians coverage,respectively.

Which of the following statements is true about the means (income)testing for Medicare?

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part A covers

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -You would have a better chance to choose your own doctor with a PPO rather than an HMO.

Comprehensive major medical simply increases the policy limits of major medical insurance without changing the coverage.

Disability income insurance provides benefits that are designed to

Which of the following is most likely to need and be able to obtain a long-term care policy?

Jackie pays $20 every time she visits her doctor.She is covered by a(n)

Mental illness is normally not covered in health insurance policies.

Most disabilities are permanent.

Understanding the Financial Planning Process

Your Financial Statements and Plans

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds

Planning for Retirement

Preserving Your Estate

Filters

Exam 9: Insuring Your Health

A characteristic of dental insurance is

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Health Maintenance Organizations (HMOs)provide pre-paid health care to participants.

Long-term care insurance provides protection against the cost of extended hospital stays.

Disability income insurance will provide income to a disabled or ill person

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Medicare and Medicaid are hospital and physicians coverage,respectively.

Which of the following statements is true about the means (income)testing for Medicare?

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part A covers

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -You would have a better chance to choose your own doctor with a PPO rather than an HMO.

Comprehensive major medical simply increases the policy limits of major medical insurance without changing the coverage.

Disability income insurance provides benefits that are designed to

Which of the following is most likely to need and be able to obtain a long-term care policy?

Jackie pays $20 every time she visits her doctor.She is covered by a(n)

Mental illness is normally not covered in health insurance policies.

Most disabilities are permanent.

Understanding the Financial Planning Process

Your Financial Statements and Plans

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds

Planning for Retirement

Preserving Your Estate

Filters