Question 1

Medicare hospital insurance (Part A) is financed from a portion of the Social Security tax.

Accepted Answer

A) True 
 B)False

Question 2

Once a person is eligible, Medicaid provides more benefits than does Medicare.

Accepted Answer

A) True 
 B)False

Question 3

Which type of health insurance policy may not cover all of your health insurance needs or may deny benefits if you lose your job?

Accepted Answer

A)  Group health 
B)  Individual health 
C)  Medicare 
D)  Medicaid 
E)  Private disability income 
A)  Group health 
B)  Individual health 
C)  Medicare 
D)  Medicaid 
E)  Private disability income

Question 4

Medicare Supplement insurance is a government-sponsored program.

Accepted Answer

A) True 
 B)False

Question 5

Identify the main private sources of health care insurance.

Accepted Answer

Health insurance and health care is avai

Question 6

Which of the following is not a key provision of the Patient Protection and Affordable Care Act of 2010?

Accepted Answer

A)  Offers tax credits for small businesses to make employee coverage more affordable 
B)  Eliminates co-payments for preventive services 
C)  Encourages insurance companies to drop people from coverage when they get sick 
D)  Restricts the annual limits to ensure access to needed care in all plans 
E)  Increases funds for Community Health Centers 
A)  Offers tax credits for small businesses to make employee coverage more affordable 
B)  Eliminates co-payments for preventive services 
C)  Encourages insurance companies to drop people from coverage when they get sick 
D)  Restricts the annual limits to ensure access to needed care in all plans 
E)  Increases funds for Community Health Centers

Question 7

Medicare covers routine checkups, dental care, most immunizations, cosmetic surgery, routine foot care, eyeglasses, and hearing aids.

Accepted Answer

A) True 
 B)False

Question 8

Preferred Provider Organizations combine the best elements of the fee-for-service and HMO systems.

Accepted Answer

A) True 
 B)False

Question 9

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 10

A hospital indemnity policy pays benefits only when you are hospitalized and only to the hospital where the care was provided.

Accepted Answer

A) True 
 B)False

Question 11

In 2012, the highest percentage of health care dollars went toward which category?

Accepted Answer

A)  Physical/clinical services 
B)  Hospital care 
C)  Prescription drugs 
D)  Home health 
E)  Nursing home care 
A)  Physical/clinical services 
B)  Hospital care 
C)  Prescription drugs 
D)  Home health 
E)  Nursing home care

Question 12

The Affordable Health Act of 2010 requires new health plans to allow young people to remain on their parents' insurance policy until what age?

Accepted Answer

A)  23 
B)  24 
C)  25 
D)  26 
E)  27 
A)  23 
B)  24 
C)  25 
D)  26 
E)  27

Question 13

Nathanial Drummond has three different insurance policies. He has been injured in an accident and has incurred $30,000 in medical bills. There is a clause in all of his insurance contracts that ensures he receives no more than a total of $30,000 in payments from his insurance companies. What is this clause 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

Question 14

Each year, Sophie Bennett must pay $500 for doctor's visits before her insurance company will make any payments for doctor's visits. 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

Question 15

Health insurance includes both medical expense insurance and disability income insurance.

Accepted Answer

A) True 
 B)False

Question 16

Which type of health insurance pays part or all of the surgeon's fee for an operation?

Accepted Answer

A)  Surgical expense 
B)  Hospital expense 
C)  Physician's expense 
D)  Long-term care 
E)  Medicare Part B 
A)  Surgical expense 
B)  Hospital expense 
C)  Physician's expense 
D)  Long-term care 
E)  Medicare Part B

Question 17

A stop-loss provision requires the policyholder to pay up to a certain amount, after which the insurance company pays 100 percent of all remaining covered expenses.

Accepted Answer

A) True 
 B)False

Question 18

According to your textbook, supplemental hospital indemnity plans:

Accepted Answer

A)  are almost always excellent buys. 
B)  should be purchased at an early age. 
C)  do not justify the premium cost. 
D)  should be purchased only by older people. 
E)  are meant for couples with two or three children. 
A)  are almost always excellent buys. 
B)  should be purchased at an early age. 
C)  do not justify the premium cost. 
D)  should be purchased only by older people. 
E)  are meant for couples with two or three children.

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Medicaid differs from Medicare because eligibility for Medicaid depends on having very low income and assets.

Accepted Answer

A) True 
 B)False

Medicare hospital insurance (Part A) is financed from a portion of the Social Security tax.

Once a person is eligible, Medicaid provides more benefits than does Medicare.

Which type of health insurance policy may not cover all of your health insurance needs or may deny benefits if you lose your job?

Medicare Supplement insurance is a government-sponsored program.

Identify the main private sources of health care insurance.

Which of the following is not a key provision of the Patient Protection and Affordable Care Act of 2010?

Medicare covers routine checkups, dental care, most immunizations, cosmetic surgery, routine foot care, eyeglasses, and hearing aids.

Preferred Provider Organizations combine the best elements of the fee-for-service and HMO systems.

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

A hospital indemnity policy pays benefits only when you are hospitalized and only to the hospital where the care was provided.

In 2012, the highest percentage of health care dollars went toward which category?

The Affordable Health Act of 2010 requires new health plans to allow young people to remain on their parents' insurance policy until what age?

Each year, Sophie Bennett must pay $500 for doctor's visits before her insurance company will make any payments for doctor's visits. What is this requirement called?

Health insurance includes both medical expense insurance and disability income insurance.

Which type of health insurance pays part or all of the surgeon's fee for an operation?

A stop-loss provision requires the policyholder to pay up to a certain amount, after which the insurance company pays 100 percent of all remaining covered expenses.

According to your textbook, supplemental hospital indemnity plans:

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

Medicaid differs from Medicare because eligibility for Medicaid depends on having very low income and assets.

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

Medicare hospital insurance (Part A) is financed from a portion of the Social Security tax.

Once a person is eligible, Medicaid provides more benefits than does Medicare.

Which type of health insurance policy may not cover all of your health insurance needs or may deny benefits if you lose your job?

Medicare Supplement insurance is a government-sponsored program.

Identify the main private sources of health care insurance.

Which of the following is not a key provision of the Patient Protection and Affordable Care Act of 2010?

Medicare covers routine checkups, dental care, most immunizations, cosmetic surgery, routine foot care, eyeglasses, and hearing aids.

Preferred Provider Organizations combine the best elements of the fee-for-service and HMO systems.

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

A hospital indemnity policy pays benefits only when you are hospitalized and only to the hospital where the care was provided.

In 2012, the highest percentage of health care dollars went toward which category?

The Affordable Health Act of 2010 requires new health plans to allow young people to remain on their parents' insurance policy until what age?

Each year, Sophie Bennett must pay $500 for doctor's visits before her insurance company will make any payments for doctor's visits. What is this requirement called?

Health insurance includes both medical expense insurance and disability income insurance.

Which type of health insurance pays part or all of the surgeon's fee for an operation?

A stop-loss provision requires the policyholder to pay up to a certain amount, after which the insurance company pays 100 percent of all remaining covered expenses.

According to your textbook, supplemental hospital indemnity plans:

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

Medicaid differs from Medicare because eligibility for Medicaid depends on having very low income and assets.

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