Question 1

Look for a disability income policy that waives premiums while you are disabled.

Accepted Answer

A) True 
 B)False

Question 2

Group health insurance does which one of the following?

Accepted Answer

A)  Provides coverage for you but not your immediate family 
B)  Covers all of your health insurance needs 
C)  Provides more health coverage than private plans 
D)  Typically covers all of an individual's medical costs 
E)  Generally requires proof of insurability 
A)  Provides coverage for you but not your immediate family 
B)  Covers all of your health insurance needs 
C)  Provides more health coverage than private plans 
D)  Typically covers all of an individual's medical costs 
E)  Generally requires proof of insurability

Question 3

Which one of the following is a correct statement about the nation's health care system?

Accepted Answer

A)  Most Americans are very satisfied with the nation's health care system. 
B)  Most Americans are somewhat satisfied. 
C)  Americans pay less for health care than those living in European industrialized countries. 
D)  Many Americans are unhappy with our health care system. 
E)  All Americans enjoy the best health care available anywhere in the world. 
A)  Most Americans are very satisfied with the nation's health care system. 
B)  Most Americans are somewhat satisfied. 
C)  Americans pay less for health care than those living in European industrialized countries. 
D)  Many Americans are unhappy with our health care system. 
E)  All Americans enjoy the best health care available anywhere in the world.

Question 4

A coinsurance provision requires the policyholder to share the expenses beyond the deductible amount.

Accepted Answer

A) True 
 B)False

Question 5

Who sells and services Medigap insurance?

Accepted Answer

A)  Federal government 
B)  State government 
C)  Both federal and state governments 
D)  Private insurance companies 
E)  Both the government and private insurance companies 
A)  Federal government 
B)  State government 
C)  Both federal and state governments 
D)  Private insurance companies 
E)  Both the government and private insurance companies

Question 6

Medicare covers the cost of care received outside the United States, Canada, and Mexico.

Accepted Answer

A) True 
 B)False

Question 7

Karen Blumenthall was seriously injured in a car accident and is paralyzed from the waist down. Luckily, she has an insurance policy that will pay for someone to come in and help with her day-to-day activities such as bathing, dressing, and household chores. What type of insurance policy is this likely to be?

Accepted Answer

A)  Comprehensive major medical 
B)  Hospital indemnity 
C)  Long-term care 
D)  Cancer 
E)  Disability income 
A)  Comprehensive major medical 
B)  Hospital indemnity 
C)  Long-term care 
D)  Cancer 
E)  Disability income

Question 8

Which type of insurance is probably the most neglected form of available insurance protection?

Accepted Answer

A)  Life 
B)  Liability 
C)  Disability 
D)  Car 
E)  Home and property 
A)  Life 
B)  Liability 
C)  Disability 
D)  Car 
E)  Home and property

Question 9

Physician expense insurance coverage excludes which of the following:

Accepted Answer

A)  Visits to the doctor's office 
B)  X-rays 
C)  Surgery 
D)  Lab tests 
E)  General physician care 
A)  Visits to the doctor's office 
B)  X-rays 
C)  Surgery 
D)  Lab tests 
E)  General physician care

Question 10

Disability income insurance benefits provide regular cash income lost by employees as the result of an accident or illness.

Accepted Answer

A) True 
 B)False

Question 11

Health insurance is available from:

Accepted Answer

A)  private insurance companies. 
B)  Blue Cross and Blue Shield. 
C)  HMOs. 
D)  PPOs. 
E)  All of these. 
A)  private insurance companies. 
B)  Blue Cross and Blue Shield. 
C)  HMOs. 
D)  PPOs. 
E)  All of these.

Question 12

What should you do when an HMO denies treatment or coverage?

Accepted Answer

A)  Ask for a letter detailing the clinical reasons for the denial. 
B)  Refer to the plan document or contact your HMO's member services department to gather information on the appeals process. 
C)  Make copies of any correspondence, including payments, and any reimbursements. 
D)  Enlist the help of your doctor, employer, and state insurance department to lobby your case before the HMO. 
E)  You should do everything included in the other answers. 
A)  Ask for a letter detailing the clinical reasons for the denial. 
B)  Refer to the plan document or contact your HMO's member services department to gather information on the appeals process. 
C)  Make copies of any correspondence, including payments, and any reimbursements. 
D)  Enlist the help of your doctor, employer, and state insurance department to lobby your case before the HMO. 
E)  You should do everything included in the other answers.

Question 13

With disability income insurance, benefits usually begin:

Accepted Answer

A)  on the first day of disability. 
B)  between 30 and 90 days after the disability occurs. 
C)  on the 10th day of disability. 
D)  one year after the start of the disability. 
E)  on the 15th day of disability. 
A)  on the first day of disability. 
B)  between 30 and 90 days after the disability occurs. 
C)  on the 10th day of disability. 
D)  one year after the start of the disability. 
E)  on the 15th day of disability.

Question 14

Which of the following groups have undertaken innovative activities to contain the costs of health care?

Accepted Answer

A)  Employers 
B)  Labor unions 
C)  Health insurers 
D)  Consumers 
E)  All of the parties listed 
A)  Employers 
B)  Labor unions 
C)  Health insurers 
D)  Consumers 
E)  All of the parties listed

Question 15

Which type of insurance protects against the large expenses of a serious injury or a long illness?

Accepted Answer

A)  Disability income 
B)  Major medical expense 
C)  Hospital indemnity 
D)  Physician's expense 
E)  Surgical expense 
A)  Disability income 
B)  Major medical expense 
C)  Hospital indemnity 
D)  Physician's expense 
E)  Surgical expense

Question 16

Medicaid is administered by each state within certain broad federal requirements and guidelines.

Accepted Answer

A) True 
 B)False

Question 17

Dean Thomas has an insurance policy that cannot be cancelled unless he fails to pay his premium. What provision in his insurance policy would specify this?

Accepted Answer

A)  Eligibility 
B)  Assigned benefits 
C)  Benefit limits 
D)  Guaranteed renewable 
E)  Exclusions and limitations 
A)  Eligibility 
B)  Assigned benefits 
C)  Benefit limits 
D)  Guaranteed renewable 
E)  Exclusions and limitations

Question 18

Generally, disability income policies with longer waiting periods:

Accepted Answer

A)  have higher premiums. 
B)  have lower premiums. 
C)  have about the same premium as those with shorter periods. 
D)  are issued by smaller insurance companies. 
E)  are issued by larger insurance companies. 
A)  have higher premiums. 
B)  have lower premiums. 
C)  have about the same premium as those with shorter periods. 
D)  are issued by smaller insurance companies. 
E)  are issued by larger insurance companies.

Question 19

Physician expense insurance is expensive, therefore, it should be avoided.

Accepted Answer

A) True 
 B)False

Question 20

Individual health insurance covers either one person or a family.

Accepted Answer

A) True 
 B)False

Look for a disability income policy that waives premiums while you are disabled.

Group health insurance does which one of the following?

Which one of the following is a correct statement about the nation's health care system?

A coinsurance provision requires the policyholder to share the expenses beyond the deductible amount.

Who sells and services Medigap insurance?

Medicare covers the cost of care received outside the United States, Canada, and Mexico.

Which type of insurance is probably the most neglected form of available insurance protection?

Physician expense insurance coverage excludes which of the following:

Disability income insurance benefits provide regular cash income lost by employees as the result of an accident or illness.

Health insurance is available from:

What should you do when an HMO denies treatment or coverage?

With disability income insurance, benefits usually begin:

Which of the following groups have undertaken innovative activities to contain the costs of health care?

Which type of insurance protects against the large expenses of a serious injury or a long illness?

Medicaid is administered by each state within certain broad federal requirements and guidelines.

Dean Thomas has an insurance policy that cannot be cancelled unless he fails to pay his premium. What provision in his insurance policy would specify this?

Generally, disability income policies with longer waiting periods:

Physician expense insurance is expensive, therefore, it should be avoided.

Individual health insurance covers either one person or a family.

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

Exam 11: Health, Disability, and Long-Term Care Insurance

Look for a disability income policy that waives premiums while you are disabled.

Group health insurance does which one of the following?

Which one of the following is a correct statement about the nation's health care system?

A coinsurance provision requires the policyholder to share the expenses beyond the deductible amount.

Who sells and services Medigap insurance?

Medicare covers the cost of care received outside the United States, Canada, and Mexico.

Which type of insurance is probably the most neglected form of available insurance protection?

Physician expense insurance coverage excludes which of the following:

Disability income insurance benefits provide regular cash income lost by employees as the result of an accident or illness.

Health insurance is available from:

What should you do when an HMO denies treatment or coverage?

With disability income insurance, benefits usually begin:

Which of the following groups have undertaken innovative activities to contain the costs of health care?

Which type of insurance protects against the large expenses of a serious injury or a long illness?

Medicaid is administered by each state within certain broad federal requirements and guidelines.

Dean Thomas has an insurance policy that cannot be cancelled unless he fails to pay his premium. What provision in his insurance policy would specify this?

Generally, disability income policies with longer waiting periods:

Physician expense insurance is expensive, therefore, it should be avoided.

Individual health insurance covers either one person or a family.

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