Question 1

In insurance terminology,"participation" and "coinsurance" mean the same thing.

Accepted Answer

A) True 
 B)False

Question 2

A group HMO employs a group of doctors to provide healthcare services to members in a central facility.

Accepted Answer

A) True 
 B)False

Question 3

In order to qualify for disability insurance under social security,a person must be

Accepted Answer

A)  unable to carry out the duties of the current job. 
B)  unable to carry out the duties of any job. 
C)  ill for at least two years. 
D)  willing to undergo rehabilitation. 
E)  none of these 
A)  unable to carry out the duties of the current job. 
B)  unable to carry out the duties of any job. 
C)  ill for at least two years. 
D)  willing to undergo rehabilitation. 
E)  none of these

Question 4

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.
-Some surgical expense insurance pays a specific amount for a list of various types of surgery.

Accepted Answer

A) True 
 B)False

Question 5

Increasing the stop loss provision is likely to lower the premium on a comprehensive major medical policy.

Accepted Answer

A) True 
 B)False

Question 6

Terms of payment under your health insurance are governed by

Accepted Answer

A)  policy limits. 
B)  deductibles. 
C)  coordination of benefits. 
D)  waiting periods. 
E)  all of the above. 
A)  policy limits. 
B)  deductibles. 
C)  coordination of benefits. 
D)  waiting periods. 
E)  all of the above.

Question 7

Which of the following best describes a "pre-existing condition"?

Accepted Answer

A)  An exclusion. 
B)  Cancer,heart condition or other serious diseases. 
C)  An injury that results from an accident. 
D)  Something not covered by the insurance policy. 
E)  A medical condition for which one has previously been treated. 
A)  An exclusion. 
B)  Cancer,heart condition or other serious diseases. 
C)  An injury that results from an accident. 
D)  Something not covered by the insurance policy. 
E)  A medical condition for which one has previously been treated.

Question 8

The insurance designed to help with nursing home or in-home care due to chronic illness is called

Accepted Answer

A)  Medicare. 
B)  major medical. 
C)  comprehensive major medical. 
D)  nursing home care. 
E)  long term care. 
A)  Medicare. 
B)  major medical. 
C)  comprehensive major medical. 
D)  nursing home care. 
E)  long term care.

Question 9

Higher income people are more likely than middle income families to need long-term care insurance.

Accepted Answer

A) True 
 B)False

Question 10

Hospital expense coverage is adequate for long-term or catastrophic medical needs of most people.

Accepted Answer

A) True 
 B)False

Question 11

Suppose Janet,a skilled neuro-surgeon,became unable to perform surgery because of severe arthritis.Which of the following is NOT true?

Accepted Answer

A)  If Janet has a disability policy with an "own occupation" definition of disability,she will probably collect some benefits. 
B)  If the policy contains an "own occupation" definition of disability,the insurer will provide coverage only if Janet would not be able to perform another type of job such as teaching or consulting. 
C)  If the policy contains an "any occupation for which reasonable suited" definition of disability,the insurer will attempt to determine if there is another job for which Janet is suited and is still able to perform. 
D)  A policy with an "own occupation" definition is generally more expensive than a policy with an "any occupation for which reasonable suited" definition of disability. 
A)  If Janet has a disability policy with an "own occupation" definition of disability,she will probably collect some benefits. 
B)  If the policy contains an "own occupation" definition of disability,the insurer will provide coverage only if Janet would not be able to perform another type of job such as teaching or consulting. 
C)  If the policy contains an "any occupation for which reasonable suited" definition of disability,the insurer will attempt to determine if there is another job for which Janet is suited and is still able to perform. 
D)  A policy with an "own occupation" definition is generally more expensive than a policy with an "any occupation for which reasonable suited" definition of disability.

Question 12

Which of the following types of plans pay for some medical costs even when the insured decides to go out of the provider network (without a referral)for services?

Accepted Answer

A)  HMO 
B)  IPA 
C)  PPO 
D)  POS 
E)  c and d 
A)  HMO 
B)  IPA 
C)  PPO 
D)  POS 
E)  c and d

Question 13

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.
-Disability income benefits are taxable when the policy premiums were paid by the [employer | employee].

Accepted Answer

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

Question 14

An elimination period is the number of days that must pass before disability policies pay proceeds.

Accepted Answer

A) True 
 B)False

Question 15

Health insurance policies automatically cover all family members.

Accepted Answer

A) True 
 B)False

Question 16

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.
-Group health insurance premiums are usually lower than individual health insurance premiums.

Accepted Answer

A) True 
 B)False

Question 17

The majority of employers pay

Accepted Answer

A)  the entire health care insurance premium for workers. 
B)  the entire health care insurance premium for dependents. 
C)  the entire health care premium for workers and dependents. 
D)  part of the premium for workers and dependents. 
E)  none of the premium for workers and dependents. 
A)  the entire health care insurance premium for workers. 
B)  the entire health care insurance premium for dependents. 
C)  the entire health care premium for workers and dependents. 
D)  part of the premium for workers and dependents. 
E)  none of the premium for workers and dependents.

Question 18

OASDHI,sometimes called social security,actually refers to the following:

Accepted Answer

A)  Old-Age,Survivor's,Disability,and Hospital Insurance. 
B)  Old-Age,Survivors,Disaster,and Hospital Insurance. 
C)  Old-Age,Survivor's,Disability,and Health Insurance. 
D)  Old-Age,Singles,Disability,and Hospital Insurance. 
E)  none of the above. 
A)  Old-Age,Survivor's,Disability,and Hospital Insurance. 
B)  Old-Age,Survivors,Disaster,and Hospital Insurance. 
C)  Old-Age,Survivor's,Disability,and Health Insurance. 
D)  Old-Age,Singles,Disability,and Hospital Insurance. 
E)  none of the above.

Question 19

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.
-Typically group health insurance plans provide substantially less comprehensive coverage than the average individually underwritten policy.

Accepted Answer

A) True 
 B)False

Question 20

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.
-Having your "reasonable and customary" surgical expenses paid is an example of [service | scheduled] benefits.

Accepted Answer

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

In insurance terminology,"participation" and "coinsurance" mean the same thing.

A group HMO employs a group of doctors to provide healthcare services to members in a central facility.

In order to qualify for disability insurance under social security,a person must be

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. -Some surgical expense insurance pays a specific amount for a list of various types of surgery.

Increasing the stop loss provision is likely to lower the premium on a comprehensive major medical policy.

Terms of payment under your health insurance are governed by

Which of the following best describes a "pre-existing condition"?

The insurance designed to help with nursing home or in-home care due to chronic illness is called

Higher income people are more likely than middle income families to need long-term care insurance.

Hospital expense coverage is adequate for long-term or catastrophic medical needs of most people.

Suppose Janet,a skilled neuro-surgeon,became unable to perform surgery because of severe arthritis.Which of the following is NOT true?

Which of the following types of plans pay for some medical costs even when the insured decides to go out of the provider network (without a referral)for services?

An elimination period is the number of days that must pass before disability policies pay proceeds.

Health insurance policies automatically cover all family members.

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. -Group health insurance premiums are usually lower than individual health insurance premiums.

The majority of employers pay

OASDHI,sometimes called social security,actually refers to the following:

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

In insurance terminology,"participation" and "coinsurance" mean the same thing.

A group HMO employs a group of doctors to provide healthcare services to members in a central facility.

In order to qualify for disability insurance under social security,a person must be

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. -Some surgical expense insurance pays a specific amount for a list of various types of surgery.

Increasing the stop loss provision is likely to lower the premium on a comprehensive major medical policy.

Terms of payment under your health insurance are governed by

Which of the following best describes a "pre-existing condition"?

The insurance designed to help with nursing home or in-home care due to chronic illness is called

Higher income people are more likely than middle income families to need long-term care insurance.

Hospital expense coverage is adequate for long-term or catastrophic medical needs of most people.

Suppose Janet,a skilled neuro-surgeon,became unable to perform surgery because of severe arthritis.Which of the following is NOT true?

Which of the following types of plans pay for some medical costs even when the insured decides to go out of the provider network (without a referral)for services?

An elimination period is the number of days that must pass before disability policies pay proceeds.

Health insurance policies automatically cover all family members.

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. -Group health insurance premiums are usually lower than individual health insurance premiums.

The majority of employers pay

OASDHI,sometimes called social security,actually refers to the following:

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