Question 1

In the pure community rating approach to health insurance premium pricing,all policyholders in an area pay:

Accepted Answer

A) a premium equal to the premium payable to the federal or state insurance exchange for a similar insurance policy. 
B) premiums based on their family size,where they live,whether they use tobacco,and their age. 
C) the same premium without regard to their personal health,age,or gender. 
D) the premium as a contribution to a community pool of funds and utilize it on a need basis. 
E) premiums at varied rates based on their health status or claims history. 
A) a premium equal to the premium payable to the federal or state insurance exchange for a similar insurance policy. 
B) premiums based on their family size,where they live,whether they use tobacco,and their age. 
C) the same premium without regard to their personal health,age,or gender. 
D) the premium as a contribution to a community pool of funds and utilize it on a need basis. 
E) premiums at varied rates based on their health status or claims history.

Question 2

The purchasing power of income from a long-term disability policy is protected by _____.

Accepted Answer

A) the Affordable Health Care Act (AC
A)  
B) the Cost-of-living adjustment (COL
A) provision 
C) Medicare benefits 
D) Social Security income 
E) the Health reimbursement account (HR
A)  
A) the Affordable Health Care Act (AC
A)  
B) the Cost-of-living adjustment (COL
A) provision 
C) Medicare benefits 
D) Social Security income 
E) the Health reimbursement account (HR
A)

Question 3

In order to qualify for disability insurance under Social Security,a person must be:

Accepted Answer

A) unable to carry out the duties of the current job. 
B) unable to carry out the duties of any job. 
C) ill for at least two years. 
D) willing to undergo rehabilitation. 
E) unable to pay health insurance premium for more than 6 months. 
A) unable to carry out the duties of the current job. 
B) unable to carry out the duties of any job. 
C) ill for at least two years. 
D) willing to undergo rehabilitation. 
E) unable to pay health insurance premium for more than 6 months.

Question 4

A _____ is standard in disability income policies.

Accepted Answer

A) deflation protection 
B) noncancelable agreement 
C) long-term-care insurance 
D) waiver of premium 
E) home insurance coverage 
A) deflation protection 
B) noncancelable agreement 
C) long-term-care insurance 
D) waiver of premium 
E) home insurance coverage

Question 5

Which of the following is true of long-term care insurance?

Accepted Answer

A) Long-term-care policies do not reimburse the insured for the cost of services incurred on a day-to-day basis. 
B) The maximum duration of benefits is only one year. 
C) There is no waiting period to receive the benefits. 
D) Most long-term-care insurance policies are non-renewable in nature. 
E) Many policies offer inflation protection riders for an additional premium. 
A) Long-term-care policies do not reimburse the insured for the cost of services incurred on a day-to-day basis. 
B) The maximum duration of benefits is only one year. 
C) There is no waiting period to receive the benefits. 
D) Most long-term-care insurance policies are non-renewable in nature. 
E) Many policies offer inflation protection riders for an additional premium.

Question 6

Health Maintenance Organizations (HMOs)provide health care to participants without requiring them to file insurance claims.

Accepted Answer

A) True 
 B)False

Question 7

Michael's estimated current monthly take-home pay is $4,500.His total existing monthly benefits is $2,950.Michael's estimated monthly disability benefits is _____.

Accepted Answer

A) $1,550 
B) $550 
C) $2,950 
D) $7,450 
E) $4,500 
A) $1,550 
B) $550 
C) $2,950 
D) $7,450 
E) $4,500

Question 8

Medicare and Medicaid are administered by hospitals and physicians.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following statements is true of the health reimbursement account (HRA)?

Accepted Answer

A) The entire health care cost of employees is reimbursed and deposited in a health reimbursement account by the employer. 
B) The premium amount for the insurance policy of dependents is reimbursed and deposited in a health reimbursement account by employer. 
C) The amount of unused money in the health reimbursement account can be rolled over annually. 
D) The employer's contribution to the health reimbursement account is taxable. 
E) The health reimbursement account balance is replenished by the insurance company when the account balance is used up. 
A) The entire health care cost of employees is reimbursed and deposited in a health reimbursement account by the employer. 
B) The premium amount for the insurance policy of dependents is reimbursed and deposited in a health reimbursement account by employer. 
C) The amount of unused money in the health reimbursement account can be rolled over annually. 
D) The employer's contribution to the health reimbursement account is taxable. 
E) The health reimbursement account balance is replenished by the insurance company when the account balance is used up.

Question 10

One of the key goals of the Affordable Health Care Act of 2010 is:

Accepted Answer

A) to increase the amount of Social Security taxes. 
B) to reduce the number of uninsured citizens in the country. 
C) to provide health care coverage to the employers employing less than 50 full-time employees. 
D) to underwrite the employee health care coverage on behalf of employers. 
E) to tax workers for job-related illness or injury. 
A) to increase the amount of Social Security taxes. 
B) to reduce the number of uninsured citizens in the country. 
C) to provide health care coverage to the employers employing less than 50 full-time employees. 
D) to underwrite the employee health care coverage on behalf of employers. 
E) to tax workers for job-related illness or injury.

Question 11

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part B covers ___________. ​

Accepted Answer

A) post-hospital medical services 
B) therapy,rehabilitation,and home health care 
C) inpatient hospital services 
D) imaging,laboratory tests,and prosthetic devices 
A) post-hospital medical services 
B) therapy,rehabilitation,and home health care 
C) inpatient hospital services 
D) imaging,laboratory tests,and prosthetic devices

Question 12

Which of the following statements is true of the Affordable Health Care Act (ACA)?

Accepted Answer

A) The ACA eliminates lifetime limits on total health care insurance payments by insurers. 
B) The ACA limits the total number of surgeries for the insurers. 
C) The ACA requires employers to reimburse the cost of hospital stay of the insured. 
D) The ACA decides the insurance payments for dependents. 
E) The ACA provides major medical insurance with low deductibles to protect against catastrophic illnesses. 
A) The ACA eliminates lifetime limits on total health care insurance payments by insurers. 
B) The ACA limits the total number of surgeries for the insurers. 
C) The ACA requires employers to reimburse the cost of hospital stay of the insured. 
D) The ACA decides the insurance payments for dependents. 
E) The ACA provides major medical insurance with low deductibles to protect against catastrophic illnesses.

Question 13

People under the age of 65 years are covered by Medicare health insurance plan if:

Accepted Answer

A) they agree to pay a negotiated fee for medical services. 
B) they have been denied health insurance because of a pre-existing condition. 
C) they volunteer to pay premiums. 
D) they are injured on the job or become ill through work-related causes. 
E) they receive monthly Social Security disability benefits. 
A) they agree to pay a negotiated fee for medical services. 
B) they have been denied health insurance because of a pre-existing condition. 
C) they volunteer to pay premiums. 
D) they are injured on the job or become ill through work-related causes. 
E) they receive monthly Social Security disability benefits.

Question 14

Patrick's monthly take-home pay is $5,000.His net worth is $125,000.He estimated that he would receive Social Security benefits worth $1,000 and company disability benefits $2,000 if he becomes disabled.The additional disability benefits that he needs to arrange for equals _____.

Accepted Answer

A) $3,000 
B) $2,000 
C) $5,000 
D) $6,000 
E) $7,000 
A) $3,000 
B) $2,000 
C) $5,000 
D) $6,000 
E) $7,000

Question 15

___________ represents the initial amount that's not covered by the policy and thus must be paid by the insured. ​

Accepted Answer

A) The deductible 
B) The co-insurance 
C) The copayment 
D) The premium 
A) The deductible 
B) The co-insurance 
C) The copayment 
D) The premium

Question 16

One drawback of long-term-care insurance is its:

Accepted Answer

A) high annual premiums. 
B) overlap with Medicare. 
C) inability to cover custodial care. 
D) short duration.. 
E) non-renewability clause.. 
A) high annual premiums. 
B) overlap with Medicare. 
C) inability to cover custodial care. 
D) short duration.. 
E) non-renewability clause..

Question 17

Workers' compensation insurance will make compensation payments to an injured worker _____.

Accepted Answer

A) only if he has been hurt on the job 
B) only if he cannot prove negligence on the part of his employer 
C) only if the worker has a take-home salary of $5,000 or more 
D) only if his or her spouse is unemployed 
E) only if the worker has a minimum of four dependents 
A) only if he has been hurt on the job 
B) only if he cannot prove negligence on the part of his employer 
C) only if the worker has a take-home salary of $5,000 or more 
D) only if his or her spouse is unemployed 
E) only if the worker has a minimum of four dependents

Question 18

Disability income policies usually have a(n)_____,which is a time delay from the date of the issuance of the policy until benefit privileges are activated.

Accepted Answer

A) waiting period 
B) probationary period 
C) elimination period 
D) internal limit period 
E) outer limit period 
A) waiting period 
B) probationary period 
C) elimination period 
D) internal limit period 
E) outer limit period

Question 19

A good health insurance plan embodies more than financing medical expenses,lost income,replacement services; it incorporates ___________. ​

Accepted Answer

A) Social Security benefits 
B) flexibility in insurance premium payment on the lapse of the insurance policy 
C) lifetime limited dollar insurance coverage on pre-existing conditions 
D) means of risk reduction such as risk avoidance 
A) Social Security benefits 
B) flexibility in insurance premium payment on the lapse of the insurance policy 
C) lifetime limited dollar insurance coverage on pre-existing conditions 
D) means of risk reduction such as risk avoidance

Question 20

The average age of the American population ___________. ​

Accepted Answer

A) has been constant over the last three decades 
B) is increasing 
C) is projected to be constant for the next three decades 
D) is decreasing 
A) has been constant over the last three decades 
B) is increasing 
C) is projected to be constant for the next three decades 
D) is decreasing

In the pure community rating approach to health insurance premium pricing,all policyholders in an area pay:

The purchasing power of income from a long-term disability policy is protected by _____.

In order to qualify for disability insurance under Social Security,a person must be:

A _____ is standard in disability income policies.

Which of the following is true of long-term care insurance?

Health Maintenance Organizations (HMOs)provide health care to participants without requiring them to file insurance claims.

Michael's estimated current monthly take-home pay is $4,500.His total existing monthly benefits is $2,950.Michael's estimated monthly disability benefits is _____.

Medicare and Medicaid are administered by hospitals and physicians.

Which of the following statements is true of the health reimbursement account (HRA)?

One of the key goals of the Affordable Health Care Act of 2010 is:

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part B covers ___________.

Which of the following statements is true of the Affordable Health Care Act (ACA)?

People under the age of 65 years are covered by Medicare health insurance plan if:

Patrick's monthly take-home pay is $5,000.His net worth is $125,000.He estimated that he would receive Social Security benefits worth $1,000 and company disability benefits $2,000 if he becomes disabled.The additional disability benefits that he needs to arrange for equals _____.

___________ represents the initial amount that's not covered by the policy and thus must be paid by the insured.

One drawback of long-term-care insurance is its:

Workers' compensation insurance will make compensation payments to an injured worker _____.

Disability income policies usually have a(n)_____,which is a time delay from the date of the issuance of the policy until benefit privileges are activated.

A good health insurance plan embodies more than financing medical expenses,lost income,replacement services; it incorporates ___________.

The average age of the American population ___________.

Understanding the Financial Planning Process

Using Financial Statements and Budgets

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds, ETFS and Real Estate

Planning for Retirement

Preserving Your Estate

Filters

Exam 9: Insuring Your Health

In the pure community rating approach to health insurance premium pricing,all policyholders in an area pay:

The purchasing power of income from a long-term disability policy is protected by _____.

In order to qualify for disability insurance under Social Security,a person must be:

A _____ is standard in disability income policies.

Which of the following is true of long-term care insurance?

Health Maintenance Organizations (HMOs)provide health care to participants without requiring them to file insurance claims.

Michael's estimated current monthly take-home pay is $4,500.His total existing monthly benefits is $2,950.Michael's estimated monthly disability benefits is _____.

Medicare and Medicaid are administered by hospitals and physicians.

Which of the following statements is true of the health reimbursement account (HRA)?

One of the key goals of the Affordable Health Care Act of 2010 is:

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part B covers ___________. ​

Which of the following statements is true of the Affordable Health Care Act (ACA)?

People under the age of 65 years are covered by Medicare health insurance plan if:

Patrick's monthly take-home pay is $5,000.His net worth is $125,000.He estimated that he would receive Social Security benefits worth $1,000 and company disability benefits $2,000 if he becomes disabled.The additional disability benefits that he needs to arrange for equals _____.

___________ represents the initial amount that's not covered by the policy and thus must be paid by the insured. ​

One drawback of long-term-care insurance is its:

Workers' compensation insurance will make compensation payments to an injured worker _____.

Disability income policies usually have a(n)_____,which is a time delay from the date of the issuance of the policy until benefit privileges are activated.

A good health insurance plan embodies more than financing medical expenses,lost income,replacement services; it incorporates ___________. ​

The average age of the American population ___________. ​

Understanding the Financial Planning Process

Using Financial Statements and Budgets

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds, ETFS and Real Estate

Planning for Retirement

Preserving Your Estate

Filters

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part B covers ___________.

___________ represents the initial amount that's not covered by the policy and thus must be paid by the insured.

A good health insurance plan embodies more than financing medical expenses,lost income,replacement services; it incorporates ___________.

The average age of the American population ___________.