Question 1

Disability income insurance is probably the least neglected form of available insurance protection.

Accepted Answer

A) True 
 B)False

Question 2

Health club membership is a form of protection to alleviate the financial burdens individuals suffer from illness or injury.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is not a source of disability income?

Accepted Answer

A) Your employer 
B) Social Security 
C) Worker's compensation 
D) Unemployment compensation 
E) Group union disability benefits 
A) Your employer 
B) Social Security 
C) Worker's compensation 
D) Unemployment compensation 
E) Group union disability benefits

Question 4

A good health insurance plan should impose no unreasonable exclusions.

Accepted Answer

A) True 
 B)False

Question 5

Which one of the following is a correct statement about the administrative costs of the health care system in the U.S.?

Accepted Answer

A) consumes 1% of healthcare dollars. 
B) considered ethical to spend a high percentage on administrative costs. 
C) Americans pay less for health care than those living in Canada's socialized system. 
D) includes enrolling beneficiaries and checking eligibility. 
E) includes rebates to customers for good health checkups. 
A) consumes 1% of healthcare dollars. 
B) considered ethical to spend a high percentage on administrative costs. 
C) Americans pay less for health care than those living in Canada's socialized system. 
D) includes enrolling beneficiaries and checking eligibility. 
E) includes rebates to customers for good health checkups.

Question 6

What are some possible reasons for high and rising costs of health care?

Accepted Answer

A) The use of sophisticated and expensive technologies 
B) Rapid average earnings growth for health care professionals 
C) Duplication of tests 
D) The increasing number and longevity of elderly people 
E) All of these 
A) The use of sophisticated and expensive technologies 
B) Rapid average earnings growth for health care professionals 
C) Duplication of tests 
D) The increasing number and longevity of elderly people 
E) All of these

Question 7

Which type of health insurance includes two features (a deductible provision and a coinsurance provision),which help keep the premium within the policyholder's means?

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 8

A hospital indemnity policy pays benefits directly to the hospital only when you are hospitalized.

Accepted Answer

A) True 
 B)False

Question 9

Very few members of the Medicaid population are also covered by Medicare.

Accepted Answer

A) True 
 B)False

Question 10

Medicare originally had two parts: hospital insurance and medical insurance.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

Group health insurance will cover you,but not your immediate family.

Accepted Answer

A) True 
 B)False

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

Joe Johnson needs surgery for appendicitis.Which part of his basic health insurance coverage should help pay for the surgeon's fees?

Accepted Answer

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

Question 15

Most insurers limit disability benefits from all sources of insurance to no more than ____________ percent of your take-home pay.

Accepted Answer

A) 30-40 
B) 40-50 
C) 50-60 
D) 60-70 
E) 70-80 
A) 30-40 
B) 40-50 
C) 50-60 
D) 60-70 
E) 70-80

Question 16

Jacob,an assembly line worker at a motorcycle manufacturing plant,has take-home pay of $1,000 a week.He is injured in an accident that kept him off work for 14 weeks.His disability insurance coverage replaces 60 percent of his earnings after a six-week waiting period.What total amount would he receive in disability benefits?

Accepted Answer

$1,000 * 60% = $600 per week.I

Question 17

Long-term care insurance was virtually unknown 50 years ago,but it is now growing faster than any other form of insurance.

Accepted Answer

A) True 
 B)False

Question 18

Raymond Carter has a type of all-inclusive health insurance that has a very low deductible and pays for hospital,surgical,medical,and other bills under one plan.What type of insurance does he have?

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 19

Chris Jones has an insurance policy that pays benefits in cash when he is hospitalized.What type of insurance would this 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 20

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

Disability income insurance is probably the least neglected form of available insurance protection.

Health club membership is a form of protection to alleviate the financial burdens individuals suffer from illness or injury.

Which of the following is not a source of disability income?

A good health insurance plan should impose no unreasonable exclusions.

Which one of the following is a correct statement about the administrative costs of the health care system in the U.S.?

What are some possible reasons for high and rising costs of health care?

Which type of health insurance includes two features (a deductible provision and a coinsurance provision),which help keep the premium within the policyholder's means?

A hospital indemnity policy pays benefits directly to the hospital only when you are hospitalized.

Very few members of the Medicaid population are also covered by Medicare.

Medicare originally had two parts: hospital insurance and medical insurance.

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

Group health insurance will cover you,but not your immediate family.

With disability income insurance,benefits usually begin:

Joe Johnson needs surgery for appendicitis.Which part of his basic health insurance coverage should help pay for the surgeon's fees?

Most insurers limit disability benefits from all sources of insurance to no more than ____________ percent of your take-home pay.

Long-term care insurance was virtually unknown 50 years ago,but it is now growing faster than any other form of insurance.

Raymond Carter has a type of all-inclusive health insurance that has a very low deductible and pays for hospital,surgical,medical,and other bills under one plan.What type of insurance does he have?

Chris Jones has an insurance policy that pays benefits in cash when he is hospitalized.What type of insurance would this be?

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

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 Stock

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

Disability income insurance is probably the least neglected form of available insurance protection.

Health club membership is a form of protection to alleviate the financial burdens individuals suffer from illness or injury.

Which of the following is not a source of disability income?

A good health insurance plan should impose no unreasonable exclusions.

Which one of the following is a correct statement about the administrative costs of the health care system in the U.S.?

What are some possible reasons for high and rising costs of health care?

Which type of health insurance includes two features (a deductible provision and a coinsurance provision),which help keep the premium within the policyholder's means?

A hospital indemnity policy pays benefits directly to the hospital only when you are hospitalized.

Very few members of the Medicaid population are also covered by Medicare.

Medicare originally had two parts: hospital insurance and medical insurance.

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

Group health insurance will cover you,but not your immediate family.

With disability income insurance,benefits usually begin:

Joe Johnson needs surgery for appendicitis.Which part of his basic health insurance coverage should help pay for the surgeon's fees?

Most insurers limit disability benefits from all sources of insurance to no more than ____________ percent of your take-home pay.

Long-term care insurance was virtually unknown 50 years ago,but it is now growing faster than any other form of insurance.

Raymond Carter has a type of all-inclusive health insurance that has a very low deductible and pays for hospital,surgical,medical,and other bills under one plan.What type of insurance does he have?

Chris Jones has an insurance policy that pays benefits in cash when he is hospitalized.What type of insurance would this be?

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

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 Stock

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Estate Planning

Filters