Question 1

List the required health benefits that health care plans must provide under the Affordable Care Act.

Accepted Answer

-Ambulatory patient services
-Emergency

Question 2

What are some good reasons for a young,healthy,single person to purchase life insurance?

Accepted Answer

The best time to purchase life insurance

Question 3

If you have a good comprehensive health care policy,paying extra for disability income coverage is not a good use of your scarce insurance budget.

Accepted Answer

A) True 
 B)False

Question 4

Why is health insurance so necessary today?

Accepted Answer

Health insurance is necessary to pay for

Question 5

The individual designated by the owner of the life insurance policy to receive the policy's proceeds upon the death of the insured is called the

Accepted Answer

A)  policy holder. 
B)  beneficiary. 
C)  insured. 
D)  actuary. 
A)  policy holder. 
B)  beneficiary. 
C)  insured. 
D)  actuary.

Question 6

________ is insurance that provides permanent insurance coverage as whole life does;however the policyholder,not the insurance company,takes on the investment risk.

Accepted Answer

A)  Variable life insurance 
B)  Universal life insurance 
C)  Convertible life insurance 
D)  None of the above 
A)  Variable life insurance 
B)  Universal life insurance 
C)  Convertible life insurance 
D)  None of the above

Question 7

Explain the advantages and disadvantages of medical reimbursement accounts.

Accepted Answer

An employee is allowed to deposit pretax

Question 8

Charles is the sole beneficiary of his late uncle's life insurance policy.The face value of the policy is $785,000.Charles has decided to accept annual annuity payments of $95,000.The interest rate on the policy is 5%.How many annual payments will Charles receive from this policy?

Accepted Answer

A)  7.08 years worth of payments 
B)  8.26 years worth of payments 
C)  10.92 years worth of payments 
D)  None of the above 
A)  7.08 years worth of payments 
B)  8.26 years worth of payments 
C)  10.92 years worth of payments 
D)  None of the above

Question 9

Life insurance may not be necessary if

Accepted Answer

A)  you're single and don't have any dependents. 
B)  you're married, a double-income couple, with no children. 
C)  you're married but aren't employed. 
D)  you're retired. 
E)  all of the above. 
A)  you're single and don't have any dependents. 
B)  you're married, a double-income couple, with no children. 
C)  you're married but aren't employed. 
D)  you're retired. 
E)  all of the above.

Question 10

Cash value policies include a ________ clause that allows you to borrow against the cash value of the policy.

Accepted Answer

A)  reinstatement 
B)  liquidity 
C)  loan 
D)  grace period 
A)  reinstatement 
B)  liquidity 
C)  loan 
D)  grace period

Question 11

Which of the following statements is true about individual health care policies versus group healthcare policies?

Accepted Answer

A)  You may be required to take a physical exam. 
B)  They tend to be less costly than group plans. 
C)  You may need one as a supplement to your group policy. 
D)  They are tailor-made for you. 
E)  All but B are correct. 
A)  You may be required to take a physical exam. 
B)  They tend to be less costly than group plans. 
C)  You may need one as a supplement to your group policy. 
D)  They are tailor-made for you. 
E)  All but B are correct.

Question 12

Using the earnings multiple approach calculate how much life insurance Heather and Robert need to take out on Heather.She earns $80,000 and is 37 years old.They want coverage until she retires at age 67.Robert is sure he can get an annual rate of return on the policy settlement of 8%.They have no children.

Accepted Answer

A)  $1,004,227 
B)  $997,553 
C)  $854,214 
D)  $630,417 
E)  None of the above 
A)  $1,004,227 
B)  $997,553 
C)  $854,214 
D)  $630,417 
E)  None of the above

List the required health benefits that health care plans must provide under the Affordable Care Act.

What are some good reasons for a young,healthy,single person to purchase life insurance?

If you have a good comprehensive health care policy,paying extra for disability income coverage is not a good use of your scarce insurance budget.

Why is health insurance so necessary today?

The individual designated by the owner of the life insurance policy to receive the policy's proceeds upon the death of the insured is called the

________ is insurance that provides permanent insurance coverage as whole life does;however the policyholder,not the insurance company,takes on the investment risk.

Explain the advantages and disadvantages of medical reimbursement accounts.

Charles is the sole beneficiary of his late uncle's life insurance policy.The face value of the policy is $785,000.Charles has decided to accept annual annuity payments of $95,000.The interest rate on the policy is 5%.How many annual payments will Charles receive from this policy?

Life insurance may not be necessary if

Cash value policies include a ________ clause that allows you to borrow against the cash value of the policy.

Which of the following statements is true about individual health care policies versus group healthcare policies?

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: The Role of Open Credit

Student and Consumer Loans: The Role of Planned Borrowing

The Home and Automobile Decision

Property and Liability Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: An Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Financial Life Events Fitting the Pieces Together

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Exam 9: Life and Health Insurance

List the required health benefits that health care plans must provide under the Affordable Care Act.

What are some good reasons for a young,healthy,single person to purchase life insurance?

If you have a good comprehensive health care policy,paying extra for disability income coverage is not a good use of your scarce insurance budget.

Why is health insurance so necessary today?

The individual designated by the owner of the life insurance policy to receive the policy's proceeds upon the death of the insured is called the

________ is insurance that provides permanent insurance coverage as whole life does;however the policyholder,not the insurance company,takes on the investment risk.

Explain the advantages and disadvantages of medical reimbursement accounts.

Charles is the sole beneficiary of his late uncle's life insurance policy.The face value of the policy is $785,000.Charles has decided to accept annual annuity payments of $95,000.The interest rate on the policy is 5%.How many annual payments will Charles receive from this policy?

Life insurance may not be necessary if

Cash value policies include a ________ clause that allows you to borrow against the cash value of the policy.

Which of the following statements is true about individual health care policies versus group healthcare policies?

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: The Role of Open Credit

Student and Consumer Loans: The Role of Planned Borrowing

The Home and Automobile Decision

Property and Liability Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: An Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Financial Life Events Fitting the Pieces Together

Filters