Question 1

Which of the following statements regarding workers' compensation insurance is true?

Accepted Answer

A)  The federal government is responsible for setting workers' compensation legislation and regulating the program. 
B)  Workers' compensation insurance includes only rehabilitation expenses. 
C)  Employees are required to bear half of the entire cost of workers' compensation insurance. 
D)  Workers' compensation insurance compensates workers who are injured on the job or become ill through work-related causes. 
E)  Employers who file the most claims pay the lowest premiums on the insurance coverage. 
A)  The federal government is responsible for setting workers' compensation legislation and regulating the program. 
B)  Workers' compensation insurance includes only rehabilitation expenses. 
C)  Employees are required to bear half of the entire cost of workers' compensation insurance. 
D)  Workers' compensation insurance compensates workers who are injured on the job or become ill through work-related causes. 
E)  Employers who file the most claims pay the lowest premiums on the insurance coverage.

Question 2

Disability income policies usually have a(n) _____, which is a time delay from the date of the issuance of the policy until benefit privileges are activated.

Accepted Answer

A)  waiting period 
B)  probationary period 
C)  elimination period 
D)  internal limit period 
E)  outer limit period 
A)  waiting period 
B)  probationary period 
C)  elimination period 
D)  internal limit period 
E)  outer limit period

Question 3

With a traditional indemnity (fee-for-service) plan, the:

Accepted Answer

A)  health care provider and the insurer are separate. 
B)  insurer always pays the health care provider directly. 
C)  lower the deductible, the lower the premium. 
D)  insured receives comprehensive health care services from a designated group of doctors only. 
E)  health care provider contracts with the insured's employee union to provide health insurance benefits. 
A)  health care provider and the insurer are separate. 
B)  insurer always pays the health care provider directly. 
C)  lower the deductible, the lower the premium. 
D)  insured receives comprehensive health care services from a designated group of doctors only. 
E)  health care provider contracts with the insured's employee union to provide health insurance benefits.

Question 4

_____ is a health care plan in which subscribers / users contract with the provider organization, which uses a designated group of providers meeting specific selection standards to furnish health care services for a monthly fee.

Accepted Answer

A)  An indemnity plan 
B)  A fee-for-service plan 
C)  A managed care plan 
D)  A supplementary medical insurance plan 
E)  Medicare 
A)  An indemnity plan 
B)  A fee-for-service plan 
C)  A managed care plan 
D)  A supplementary medical insurance plan 
E)  Medicare

Question 5

Medicare Part B covers:

Accepted Answer

A)  post-hospital medical services. 
B)  therapy, rehabilitation, and home health care. 
C)  inpatient hospital services. 
D)  imaging, laboratory tests, and prosthetic devices. 
E)  dental care. 
A)  post-hospital medical services. 
B)  therapy, rehabilitation, and home health care. 
C)  inpatient hospital services. 
D)  imaging, laboratory tests, and prosthetic devices. 
E)  dental care.

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. 
Traditional indemnity policies reimburse the insured based on the [ amount charged | usual, customary, and reasonable (UCR) charges ] for the medical services received.

Accepted Answer

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

Question 7

If Jan has Alzheimer's, she is unable to buy long-term-care insurance.

Accepted Answer

A) True 
 B)False

Question 8

The _____ represents the initial amount that's not covered by a health insurance policy and thus must be paid by the insured.

Accepted Answer

A)  deductible 
B)  stop-loss provision 
C)  co-payment 
D)  premium 
E)  internal limit 
A)  deductible 
B)  stop-loss provision 
C)  co-payment 
D)  premium 
E)  internal limit

Question 9

Employers are legally required to extend group health insurance benefits to retirees.

Accepted Answer

A) True 
 B)False

Question 10

You would have a better chance of insurance coverage for medical services not provided by the network with a preferred provider organization (PPO) than with a health maintenance organization (HMO) plan.

Accepted Answer

A) True 
 B)False

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. 
The average age of the American population is [ decreasing | increasing ].

Accepted Answer

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

Question 12

Activities of daily living (ADLs) are important in determining _____ for long-term-care insurance.

Accepted Answer

A)  type of care 
B)  services covered 
C)  the waiting period 
D)  eligibility 
E)  benefit duration 
A)  type of care 
B)  services covered 
C)  the waiting period 
D)  eligibility 
E)  benefit duration

Question 13

In the pure community rating approach to health insurance premium pricing, all policyholders in an area pay:

Accepted Answer

A)  a premium equal to the premium payable to the federal or state insurance exchange for a similar insurance policy. 
B)  premiums based on their family size, where they live, whether they use tobacco, and their age. 
C)  the same premium without regard to their personal health, age, or gender. 
D)  the premium as a contribution to a community pool of funds and utilize it on as-needed basis. 
E)  premiums at varied rates based on their health status or claim history. 
A)  a premium equal to the premium payable to the federal or state insurance exchange for a similar insurance policy. 
B)  premiums based on their family size, where they live, whether they use tobacco, and their age. 
C)  the same premium without regard to their personal health, age, or gender. 
D)  the premium as a contribution to a community pool of funds and utilize it on as-needed basis. 
E)  premiums at varied rates based on their health status or claim history.

Question 14

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. 
In the past, one complaint about health maintenance organizations (HMOs) was that [ the cost was expensive | members couldn't always choose their physicians ].

Accepted Answer

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

Question 15

Almost 14% of the population does not have health insurance.

Accepted Answer

A) True 
 B)False

Question 16

When offering a flexible-benefit plan, most employers will set up a salary reduction agreement with an employee if the employee:

Accepted Answer

A)  has paid hospitalization charges for a pre-existing condition. 
B)  has paid health care costs due to a lapse of insurance coverage. 
C)  needs additional insurance benefits. 
D)  does not look for ways to avoid exposure to health care loss before it occurs. 
E)  is injured on the job or becomes ill through work-related causes. 
A)  has paid hospitalization charges for a pre-existing condition. 
B)  has paid health care costs due to a lapse of insurance coverage. 
C)  needs additional insurance benefits. 
D)  does not look for ways to avoid exposure to health care loss before it occurs. 
E)  is injured on the job or becomes ill through work-related causes.

Question 17

Under the Patient Protection and Affordable Care Act (ACA), family health care insurers must allow parents to retain their children on their health insurance policies up to the age of:

Accepted Answer

A)  18. 
B)  21. 
C)  24. 
D)  26. 
E)  30. 
A)  18. 
B)  21. 
C)  24. 
D)  26. 
E)  30.

Question 18

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 be more likely to receive [ 70% | 90% ] of your pre-disability income from a disability income policy.

Accepted Answer

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

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. 
Medicare [ hospital | supplemental medical ] insurance requires those covered to pay a monthly premium.

Accepted Answer

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

Question 20

The insurance designed to help with nursing home, assisted-living community, or in-home care due to chronic illness is called:

Accepted Answer

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

Which of the following statements regarding workers' compensation insurance is true?

Disability income policies usually have a(n) _____, which is a time delay from the date of the issuance of the policy until benefit privileges are activated.

With a traditional indemnity (fee-for-service) plan, the:

_____ is a health care plan in which subscribers / users contract with the provider organization, which uses a designated group of providers meeting specific selection standards to furnish health care services for a monthly fee.

Medicare Part B covers:

If Jan has Alzheimer's, she is unable to buy long-term-care insurance.

The _____ represents the initial amount that's not covered by a health insurance policy and thus must be paid by the insured.

Employers are legally required to extend group health insurance benefits to retirees.

You would have a better chance of insurance coverage for medical services not provided by the network with a preferred provider organization (PPO) than with a health maintenance organization (HMO) plan.

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. The average age of the American population is [ decreasing | increasing ].

Activities of daily living (ADLs) are important in determining _____ for long-term-care insurance.

In the pure community rating approach to health insurance premium pricing, all policyholders in an area pay:

Almost 14% of the population does not have health insurance.

When offering a flexible-benefit plan, most employers will set up a salary reduction agreement with an employee if the employee:

Under the Patient Protection and Affordable Care Act (ACA), family health care insurers must allow parents to retain their children on their health insurance policies up to the age of:

The insurance designed to help with nursing home, assisted-living community, or in-home care due to chronic illness is called:

Understanding the Financial Planning Process

Developing 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 and Real Estate

Planning for Retirement

Preserving Your Estate

Filters

Exam 9: Insuring Your Health

Which of the following statements regarding workers' compensation insurance is true?

Disability income policies usually have a(n) _____, which is a time delay from the date of the issuance of the policy until benefit privileges are activated.

With a traditional indemnity (fee-for-service) plan, the:

_____ is a health care plan in which subscribers / users contract with the provider organization, which uses a designated group of providers meeting specific selection standards to furnish health care services for a monthly fee.

Medicare Part B covers:

If Jan has Alzheimer's, she is unable to buy long-term-care insurance.

The _____ represents the initial amount that's not covered by a health insurance policy and thus must be paid by the insured.

Employers are legally required to extend group health insurance benefits to retirees.

You would have a better chance of insurance coverage for medical services not provided by the network with a preferred provider organization (PPO) than with a health maintenance organization (HMO) plan.

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. The average age of the American population is [ decreasing | increasing ].

Activities of daily living (ADLs) are important in determining _____ for long-term-care insurance.

In the pure community rating approach to health insurance premium pricing, all policyholders in an area pay:

Almost 14% of the population does not have health insurance.

When offering a flexible-benefit plan, most employers will set up a salary reduction agreement with an employee if the employee:

Under the Patient Protection and Affordable Care Act (ACA), family health care insurers must allow parents to retain their children on their health insurance policies up to the age of:

The insurance designed to help with nursing home, assisted-living community, or in-home care due to chronic illness is called:

Understanding the Financial Planning Process

Developing 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 and Real Estate

Planning for Retirement

Preserving Your Estate

Filters