Question 1

Dread disease and cancer policies are usually very good values.

Accepted Answer

A) True 
 B)False

Question 2

The definition of disability:

Accepted Answer

A)  is universally accepted. 
B)  varies. 
C)  is standardized by the American Council of Life Insurance. 
D)  has been formalized by the National Disability Council. 
E)  is provided by the Insurance Information Institute. 
A)  is universally accepted. 
B)  varies. 
C)  is standardized by the American Council of Life Insurance. 
D)  has been formalized by the National Disability Council. 
E)  is provided by the Insurance Information Institute.

Question 3

What are the five basic types of health insurance? What are their benefits and limitations?

Accepted Answer

Five basic types of health insurance are

Question 4

Long-term care insurance was virtually unknown 25 years ago, but now it is growing faster than any other form of insurance.

Accepted Answer

A) True 
 B)False

Question 5

Because Medicaid coverage is very limited, people using it need to purchase supplemental insurance.

Accepted Answer

A) True 
 B)False

Question 6

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 7

In 2009, the largest percentage of U.S. health care dollars was spent on:

Accepted Answer

A)  hospital care. 
B)  dental care. 
C)  physician/clinical services. 
D)  prescription drugs. 
E)  nursing care. 
A)  hospital care. 
B)  dental care. 
C)  physician/clinical services. 
D)  prescription drugs. 
E)  nursing care.

Question 8

Which type of health insurance pays part or all of an insured's hospital bills for room, board, and other charges?

Accepted Answer

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

Question 9

The United States has the lowest per capita medical expenditures of any industrialized country in the world.

Accepted Answer

A) True 
 B)False

Question 10

Which one of the following would be your best selection if you could only choose one of the following types of insurance?

Accepted Answer

A)  A basic plan combined with a major supplementary plan 
B)  Combined dental and vision plan 
C)  Dread disease and cancer plan 
D)  Long-term care 
E)  Accident 
A)  A basic plan combined with a major supplementary plan 
B)  Combined dental and vision plan 
C)  Dread disease and cancer plan 
D)  Long-term care 
E)  Accident

Question 11

Which health care institution directly employs or contracts with selected medical care specialists to provide managed health care services in exchange for a fixed, prepaid monthly premium?

Accepted Answer

A)  Blue Cross 
B)  Blue Shield 
C)  Medicare 
D)  Medicaid 
E)  HMO 
A)  Blue Cross 
B)  Blue Shield 
C)  Medicare 
D)  Medicaid 
E)  HMO

Question 12

Two sources of government health insurance are Medicare and Medicaid.

Accepted Answer

A) True 
 B)False

Question 13

Medicaid is financed by both state and federal funds.

Accepted Answer

A) True 
 B)False

Question 14

What is disability income insurance? What are the major sources of disability income insurance?

Accepted Answer

Disability income insurance benefits pro

Question 15

A deductible provision requires the policyholder to pay a basic amount before the policy benefits begin.

Accepted Answer

A) True 
 B)False

Question 16

The best way to avoid the high cost of illness is to stay well.

Accepted Answer

A) True 
 B)False

Question 17

Medigap is sold or serviced by:

Accepted Answer

A)  Medicare. 
B)  Medicaid. 
C)  private insurance companies. 
D)  Health Care Financing Administration. 
E)  National Institutes of Health. 
A)  Medicare. 
B)  Medicaid. 
C)  private insurance companies. 
D)  Health Care Financing Administration. 
E)  National Institutes of Health.

Question 18

Medicare medical insurance is:

Accepted Answer

A)  mandatory. 
B)  financed by corporations. 
C)  voluntary, and you must sign up for coverage. 
D)  state supported and partially funded by the National Institutes of Health. 
E)  paid for by state governments. 
A)  mandatory. 
B)  financed by corporations. 
C)  voluntary, and you must sign up for coverage. 
D)  state supported and partially funded by the National Institutes of Health. 
E)  paid for by state governments.

Question 19

The premium for noncancelable and guaranteed renewable coverage is higher, but the coverage is well worth the extra cost.

Accepted Answer

A) True 
 B)False

Question 20

Sophie Bennett is required to pay 20 percent of her medical costs up to a stated dollar limit. What is this requirement called?

Accepted Answer

A)  Coordination of benefits 
B)  Deductible 
C)  Coinsurance 
D)  Stop-loss provision 
E)  Waiver of premium 
A)  Coordination of benefits 
B)  Deductible 
C)  Coinsurance 
D)  Stop-loss provision 
E)  Waiver of premium

Dread disease and cancer policies are usually very good values.

The definition of disability:

What are the five basic types of health insurance? What are their benefits and limitations?

Long-term care insurance was virtually unknown 25 years ago, but now it is growing faster than any other form of insurance.

Because Medicaid coverage is very limited, people using it need to purchase supplemental insurance.

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

In 2009, the largest percentage of U.S. health care dollars was spent on:

Which type of health insurance pays part or all of an insured's hospital bills for room, board, and other charges?

The United States has the lowest per capita medical expenditures of any industrialized country in the world.

Which one of the following would be your best selection if you could only choose one of the following types of insurance?

Which health care institution directly employs or contracts with selected medical care specialists to provide managed health care services in exchange for a fixed, prepaid monthly premium?

Two sources of government health insurance are Medicare and Medicaid.

Medicaid is financed by both state and federal funds.

What is disability income insurance? What are the major sources of disability income insurance?

A deductible provision requires the policyholder to pay a basic amount before the policy benefits begin.

The best way to avoid the high cost of illness is to stay well.

Medigap is sold or serviced by:

Medicare medical insurance is:

The premium for noncancelable and guaranteed renewable coverage is higher, but the coverage is well worth the extra cost.

Sophie Bennett is required to pay 20 percent of her medical costs up to a stated dollar limit. What is this requirement called?

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

Dread disease and cancer policies are usually very good values.

The definition of disability:

What are the five basic types of health insurance? What are their benefits and limitations?

Long-term care insurance was virtually unknown 25 years ago, but now it is growing faster than any other form of insurance.

Because Medicaid coverage is very limited, people using it need to purchase supplemental insurance.

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

In 2009, the largest percentage of U.S. health care dollars was spent on:

Which type of health insurance pays part or all of an insured's hospital bills for room, board, and other charges?

The United States has the lowest per capita medical expenditures of any industrialized country in the world.

Which one of the following would be your best selection if you could only choose one of the following types of insurance?

Which health care institution directly employs or contracts with selected medical care specialists to provide managed health care services in exchange for a fixed, prepaid monthly premium?

Two sources of government health insurance are Medicare and Medicaid.

Medicaid is financed by both state and federal funds.

What is disability income insurance? What are the major sources of disability income insurance?

A deductible provision requires the policyholder to pay a basic amount before the policy benefits begin.

The best way to avoid the high cost of illness is to stay well.

Medigap is sold or serviced by:

Medicare medical insurance is:

The premium for noncancelable and guaranteed renewable coverage is higher, but the coverage is well worth the extra cost.

Sophie Bennett is required to pay 20 percent of her medical costs up to a stated dollar limit. What is this requirement called?

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