Question 1

Traditional health insurance plans are often referred to as basic indemnity plans.

Accepted Answer

A) True 
 B)False

Question 2

The most obvious health related financial loss is the need for income replacement when one is unable to work.

Accepted Answer

A) True 
 B)False

Question 3

Less than 50 percent of Americans are covered by some type of private or government health care plan.

Accepted Answer

A) True 
 B)False

Question 4

Traditional health insurance plans typically have ____ and ____ requirements that result in out-of-pocket costs for the insured.

Accepted Answer

A) deductibles; coinsurance 
B) Medicare; Medicaid 
C) HMOs; PPOs 
D) POS; PSN 
A) deductibles; coinsurance 
B) Medicare; Medicaid 
C) HMOs; PPOs 
D) POS; PSN

Question 5

The maximum annual deposit into a health savings account is ____ for an individual and ____ for a family.

Accepted Answer

A) $1,000 / $5,000 
B) $2,000 / $5,000 
C) $3,300 / $6,550 
D) $5,000 / $10,000 
A) $1,000 / $5,000 
B) $2,000 / $5,000 
C) $3,300 / $6,550 
D) $5,000 / $10,000

Question 6

The disability income insurance feature that provides a reduced level of benefit when you suffer a partial disability is called a

Accepted Answer

A) Social Security rider. 
B) residual clause. 
C) elimination clause. 
D) benefit period rider. 
A) Social Security rider. 
B) residual clause. 
C) elimination clause. 
D) benefit period rider.

Question 7

Which of the following is not true of Medicare Part B?

Accepted Answer

A) Is supplementary health care coverage 
B) Does not cover outpatient care 
C) Requires the payment of monthly premiums 
D) Covers doctor office visits 
A) Is supplementary health care coverage 
B) Does not cover outpatient care 
C) Requires the payment of monthly premiums 
D) Covers doctor office visits

Question 8

Social Security disability income payments are available to covered workers who are either partially or totally disabled.

Accepted Answer

A) True 
 B)False

Question 9

A longer waiting period on a disability income policy will

Accepted Answer

A) require a smaller emergency fund. 
B) reduce the disability income insurance premium. 
C) extend the benefit period. 
D) all of these. 
A) require a smaller emergency fund. 
B) reduce the disability income insurance premium. 
C) extend the benefit period. 
D) all of these.

Question 10

HMOs have dollar limits on their coverage

Accepted Answer

A) True 
 B)False

Question 11

The period of time each year when you can make changes in your selection of health care plans available from your employer is called a(n)

Accepted Answer

A) benefit period. 
B) waiting period 
C) open-enrollment period. 
D) eligibility window 
A) benefit period. 
B) waiting period 
C) open-enrollment period. 
D) eligibility window

Question 12

A legal document in which individuals designate another person to make health care decisions on their behalf if they are incapable of making their wishes know is called a

Accepted Answer

A) letter of last instructions 
B) health care proxy. 
C) durable power of attorney. 
D) living will. 
A) letter of last instructions 
B) health care proxy. 
C) durable power of attorney. 
D) living will.

Question 13

The cost of a health maintenance organization is generally a(n)

Accepted Answer

A) monthly fee and coinsurance. 
B) annual premium and a deductible 
C) monthly premium, deductible, and coinsurance 
D) monthly fee, a deductible, and copayments 
A) monthly fee and coinsurance. 
B) annual premium and a deductible 
C) monthly premium, deductible, and coinsurance 
D) monthly fee, a deductible, and copayments

Question 14

A special power of attorney gives the designated person virtually absolute power to manage your financial affairs.

Accepted Answer

A) True 
 B)False

Question 15

Preventive health care and catching medical problems early is encouraged by

Accepted Answer

A) government health care plans. 
B) health maintenance organizations (HMOs). 
C) preferred provider organizations (PPOs). 
D) private health insurance. 
A) government health care plans. 
B) health maintenance organizations (HMOs). 
C) preferred provider organizations (PPOs). 
D) private health insurance.

Question 16

Long-term care insurance premiums are lower for younger individuals.

Accepted Answer

A) True 
 B)False

Question 17

A living will addresses financial issues should one become mentally incapacitated.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is a general term used to describe an HMO,health insurance or another plan that pays for or provides reimbursement for direct health care expenditures? A legal document that directs life support measures,such as a respirator,to be removed is called

Accepted Answer

A) hospitalization 
B) Medicare 
C) health insurance 
D) a health care plan 
A) hospitalization 
B) Medicare 
C) health insurance 
D) a health care plan

Question 19

Blue Cross and Blue Shield are insurance companies that provide health insurance.

Accepted Answer

A) True 
 B)False

Question 20

______ provide(s) preventative care as well as other types of care for a set monthly fee which is considered to be advance payment for the care received

Accepted Answer

A) Traditional health insurance 
B) Consumer-driven health insurance 
C) Health maintenance organization (HMO) 
D) Preferred provider organization (PPO) 
A) Traditional health insurance 
B) Consumer-driven health insurance 
C) Health maintenance organization (HMO) 
D) Preferred provider organization (PPO)

Traditional health insurance plans are often referred to as basic indemnity plans.

The most obvious health related financial loss is the need for income replacement when one is unable to work.

Less than 50 percent of Americans are covered by some type of private or government health care plan.

Traditional health insurance plans typically have and requirements that result in out-of-pocket costs for the insured.

The maximum annual deposit into a health savings account is for an individual and for a family.

The disability income insurance feature that provides a reduced level of benefit when you suffer a partial disability is called a

Which of the following is not true of Medicare Part B?

Social Security disability income payments are available to covered workers who are either partially or totally disabled.

A longer waiting period on a disability income policy will

HMOs have dollar limits on their coverage

The period of time each year when you can make changes in your selection of health care plans available from your employer is called a(n)

A legal document in which individuals designate another person to make health care decisions on their behalf if they are incapable of making their wishes know is called a

The cost of a health maintenance organization is generally a(n)

A special power of attorney gives the designated person virtually absolute power to manage your financial affairs.

Preventive health care and catching medical problems early is encouraged by

Long-term care insurance premiums are lower for younger individuals.

A living will addresses financial issues should one become mentally incapacitated.

Which of the following is a general term used to describe an HMO,health insurance or another plan that pays for or provides reimbursement for direct health care expenditures? A legal document that directs life support measures,such as a respirator,to be removed is called

Blue Cross and Blue Shield are insurance companies that provide health insurance.

______ provide(s) preventative care as well as other types of care for a set monthly fee which is considered to be advance payment for the care received

Understanding Personal Finance

Career Planning

Financial Statements,tools,and Budgets

Managing Income Taxes

Managing Checking and Savings Accounts

Building and Maintaining Good Credit

Credit Cards and Consumer Loans

Vehicles and Other Major Purchases

Obtaining Affordable Housing

Managing Property and Liability Risk

Life Insurance Planning

Investment Fundamentals

Investing in Stocks and Bonds

Mutual Funds and Exchange Traded Funds

Real Estate and High-Risk Investments

Retirement and Estate Planning

Filters

Exam 11: Managing Health Expenses

Traditional health insurance plans are often referred to as basic indemnity plans.

The most obvious health related financial loss is the need for income replacement when one is unable to work.

Less than 50 percent of Americans are covered by some type of private or government health care plan.

Traditional health insurance plans typically have ____ and ____ requirements that result in out-of-pocket costs for the insured.

The maximum annual deposit into a health savings account is ____ for an individual and ____ for a family.

The disability income insurance feature that provides a reduced level of benefit when you suffer a partial disability is called a

Which of the following is not true of Medicare Part B?

Social Security disability income payments are available to covered workers who are either partially or totally disabled.

A longer waiting period on a disability income policy will

HMOs have dollar limits on their coverage

The period of time each year when you can make changes in your selection of health care plans available from your employer is called a(n)

A legal document in which individuals designate another person to make health care decisions on their behalf if they are incapable of making their wishes know is called a

The cost of a health maintenance organization is generally a(n)

A special power of attorney gives the designated person virtually absolute power to manage your financial affairs.

Preventive health care and catching medical problems early is encouraged by

Long-term care insurance premiums are lower for younger individuals.

A living will addresses financial issues should one become mentally incapacitated.

Which of the following is a general term used to describe an HMO,health insurance or another plan that pays for or provides reimbursement for direct health care expenditures? A legal document that directs life support measures,such as a respirator,to be removed is called

Blue Cross and Blue Shield are insurance companies that provide health insurance.

______ provide(s) preventative care as well as other types of care for a set monthly fee which is considered to be advance payment for the care received

Understanding Personal Finance

Career Planning

Financial Statements,tools,and Budgets

Managing Income Taxes

Managing Checking and Savings Accounts

Building and Maintaining Good Credit

Credit Cards and Consumer Loans

Vehicles and Other Major Purchases

Obtaining Affordable Housing

Managing Property and Liability Risk

Life Insurance Planning

Investment Fundamentals

Investing in Stocks and Bonds

Mutual Funds and Exchange Traded Funds

Real Estate and High-Risk Investments

Retirement and Estate Planning

Filters

Traditional health insurance plans typically have and requirements that result in out-of-pocket costs for the insured.

The maximum annual deposit into a health savings account is for an individual and for a family.