Question 1

Every year,12% of the adult U.S.population suffers a long-term disability.

Accepted Answer

A) True 
 B)False

Question 2

To get Medicare medical insurance,you must sign up for it and pay a monthly premium.

Accepted Answer

A) True 
 B)False

Question 3

Title XIX of the Social Security Act provides for a program of medical assistance to certain low-income individuals and families,known as Medicaid.

Accepted Answer

A) True 
 B)False

Question 4

Medicare does not cover the medical expenses of private-duty nursing care.

Accepted Answer

A) True 
 B)False

Question 5

Long-term care insurance was virtually unknown 50 years ago,but it is now growing faster than any other form of insurance.

Accepted Answer

A) True 
 B)False

Question 6

Harry Morgan gets a bad case of the flu and ends up in the hospital for three days.Which part of his basic health insurance coverage should help pay for this stay?

Accepted Answer

A) Hospital expense 
B) Surgical expense 
C) Physician expense 
D) Major medical expense 
E) Medicare Part B 
A) Hospital expense 
B) Surgical expense 
C) Physician expense 
D) Major medical expense 
E) Medicare Part B

Question 7

Jamal Walker developed a serious infection and spent 6 months in his hospital's intensive care unit.What part of his health insurance policy would be the most useful for helping to pay for this?

Accepted Answer

A) Hospital expense 
B) Surgical expense 
C) Physician expense 
D) Major medical expense 
E) Medicare Part B 
A) Hospital expense 
B) Surgical expense 
C) Physician expense 
D) Major medical expense 
E) Medicare Part B

Question 8

More people have hospital insurance than any other kind of health insurance.

Accepted Answer

A) True 
 B)False

Question 9

The waiting period in disability income insurance is called the ________ period.

Accepted Answer

A) exclusion 
B) no benefit 
C) coverage 
D) trade-off 
E) elimination 
A) exclusion 
B) no benefit 
C) coverage 
D) trade-off 
E) elimination

Question 10

John Gleason is permanently disabled while on the job.Which of the following is the most likely source of disability income for John?

Accepted Answer

A) His employer 
B) Social Security 
C) Worker's compensation 
D) An individual insurance policy 
E) His health insurance policy 
A) His employer 
B) Social Security 
C) Worker's compensation 
D) An individual insurance policy 
E) His health insurance policy

Question 11

A sign that your group health coverage needs supplementing would be:

Accepted Answer

A) it covers a minor portion of your dental bills. 
B) it covers a major portion of your hospital charges. 
C) it covers a major portion of your doctor bills. 
D) it covers over 50% of the going rate for surgical procedures. 
E) it covers a minor portion of your hospital,doctor,and surgical charges. 
A) it covers a minor portion of your dental bills. 
B) it covers a major portion of your hospital charges. 
C) it covers a major portion of your doctor bills. 
D) it covers over 50% of the going rate for surgical procedures. 
E) it covers a minor portion of your hospital,doctor,and surgical charges.

Question 12

A good health insurance plan should:

Accepted Answer

A) pay at least 90 percent for out-of-hospital expenses after a yearly deductible. 
B) provide at least 100 days' hospital room and board in full. 
C) provide at least a $1 million lifetime maximum for each family member. 
D) impose unreasonable exclusions. 
E) limit out-of-pocket expenses to no more than $10,000 a year. 
A) pay at least 90 percent for out-of-hospital expenses after a yearly deductible. 
B) provide at least 100 days' hospital room and board in full. 
C) provide at least a $1 million lifetime maximum for each family member. 
D) impose unreasonable exclusions. 
E) limit out-of-pocket expenses to no more than $10,000 a year.

Question 13

Individual health insurance covers either one person or a family.

Accepted Answer

A) True 
 B)False

Question 14

A coinsurance provision requires the policyholder to share the expenses beyond the deductible amount.

Accepted Answer

A) True 
 B)False

Question 15

Medicaid is financed by both state and federal funds.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following statements is not correct about Medicaid?

Accepted Answer

A) The Social Security Act created Medicaid in 1965. 
B) Medicaid is a program of medical assistance to certain low-income individuals and families. 
C) Medicaid is administered by each state within certain federal guidelines. 
D) Medicaid is financed by both state and federal funds. 
E) Medicaid is provided to wealthy individuals. 
A) The Social Security Act created Medicaid in 1965. 
B) Medicaid is a program of medical assistance to certain low-income individuals and families. 
C) Medicaid is administered by each state within certain federal guidelines. 
D) Medicaid is financed by both state and federal funds. 
E) Medicaid is provided to wealthy individuals.

Question 17

Most group health insurance plans in the United States are sponsored by:

Accepted Answer

A) victims of communicable diseases. 
B) individuals with families. 
C) single individuals with no dependents. 
D) elderly individuals. 
E) employers. 
A) victims of communicable diseases. 
B) individuals with families. 
C) single individuals with no dependents. 
D) elderly individuals. 
E) employers.

Question 18

Which type of health insurance covers diagnosing and treating glaucoma,eyeglasses,and eye surgery?

Accepted Answer

A) Surgical expense 
B) Vision care 
C) Physician's expense 
D) Medicare Part B 
E) Major medical 
A) Surgical expense 
B) Vision care 
C) Physician's expense 
D) Medicare Part B 
E) Major medical

Question 19

Benjamin Northcutt has an insurance policy that does not cover cosmetic surgery like the nose job he would like to have.Which provision in his insurance policy would specify this?

Accepted Answer

A) Eligibility 
B) Assigned benefits 
C) Benefit limits 
D) Guaranteed renewable 
E) Exclusions and limitations 
A) Eligibility 
B) Assigned benefits 
C) Benefit limits 
D) Guaranteed renewable 
E) Exclusions and limitations

Question 20

The premium for noncancelable and guaranteed renewable coverage for a disability income policy is higher,but the coverages are well worth the extra cost.

Accepted Answer

A) True 
 B)False

Every year,12% of the adult U.S.population suffers a long-term disability.

To get Medicare medical insurance,you must sign up for it and pay a monthly premium.

Title XIX of the Social Security Act provides for a program of medical assistance to certain low-income individuals and families,known as Medicaid.

Medicare does not cover the medical expenses of private-duty nursing care.

Long-term care insurance was virtually unknown 50 years ago,but it is now growing faster than any other form of insurance.

Harry Morgan gets a bad case of the flu and ends up in the hospital for three days.Which part of his basic health insurance coverage should help pay for this stay?

Jamal Walker developed a serious infection and spent 6 months in his hospital's intensive care unit.What part of his health insurance policy would be the most useful for helping to pay for this?

More people have hospital insurance than any other kind of health insurance.

The waiting period in disability income insurance is called the ________ period.

John Gleason is permanently disabled while on the job.Which of the following is the most likely source of disability income for John?

A sign that your group health coverage needs supplementing would be:

A good health insurance plan should:

Individual health insurance covers either one person or a family.

A coinsurance provision requires the policyholder to share the expenses beyond the deductible amount.

Medicaid is financed by both state and federal funds.

Which of the following statements is not correct about Medicaid?

Most group health insurance plans in the United States are sponsored by:

Which type of health insurance covers diagnosing and treating glaucoma,eyeglasses,and eye surgery?

Benjamin Northcutt has an insurance policy that does not cover cosmetic surgery like the nose job he would like to have.Which provision in his insurance policy would specify this?

The premium for noncancelable and guaranteed renewable coverage for a disability income policy is higher,but the coverages are well worth the extra cost.

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Financial Services: Savings Plans and Payment Accounts

Introduction to Consumer Credit

Choosing a Source of Credit: the Costs of Credit Alternatives

Consumer Purchasing Strategies and Legal Protection

The Housing Decision: Factors and Finances

Property and Motor Vehicle Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Estate Planning

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Exam 11: Health,disability,and Long-Term Care Insurance

Every year,12% of the adult U.S.population suffers a long-term disability.

To get Medicare medical insurance,you must sign up for it and pay a monthly premium.

Title XIX of the Social Security Act provides for a program of medical assistance to certain low-income individuals and families,known as Medicaid.

Medicare does not cover the medical expenses of private-duty nursing care.

Long-term care insurance was virtually unknown 50 years ago,but it is now growing faster than any other form of insurance.

Harry Morgan gets a bad case of the flu and ends up in the hospital for three days.Which part of his basic health insurance coverage should help pay for this stay?

Jamal Walker developed a serious infection and spent 6 months in his hospital's intensive care unit.What part of his health insurance policy would be the most useful for helping to pay for this?

More people have hospital insurance than any other kind of health insurance.

The waiting period in disability income insurance is called the ________ period.

John Gleason is permanently disabled while on the job.Which of the following is the most likely source of disability income for John?

A sign that your group health coverage needs supplementing would be:

A good health insurance plan should:

Individual health insurance covers either one person or a family.

A coinsurance provision requires the policyholder to share the expenses beyond the deductible amount.

Medicaid is financed by both state and federal funds.

Which of the following statements is not correct about Medicaid?

Most group health insurance plans in the United States are sponsored by:

Which type of health insurance covers diagnosing and treating glaucoma,eyeglasses,and eye surgery?

Benjamin Northcutt has an insurance policy that does not cover cosmetic surgery like the nose job he would like to have.Which provision in his insurance policy would specify this?

The premium for noncancelable and guaranteed renewable coverage for a disability income policy is higher,but the coverages are well worth the extra cost.

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Financial Services: Savings Plans and Payment Accounts

Introduction to Consumer Credit

Choosing a Source of Credit: the Costs of Credit Alternatives

Consumer Purchasing Strategies and Legal Protection

The Housing Decision: Factors and Finances

Property and Motor Vehicle Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Estate Planning

Filters