Question 1

Basic health insurance coverage includes hospital expense insurance,surgical expense insurance,and physician expense insurance.

Accepted Answer

A) True 
 B)False

Question 2

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 3

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

Accepted Answer

A) True 
 B)False

Question 4

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 5

Sophie Bennett has personally paid a total of $5,000 in medical costs this year.At this point,there is a clause in her insurance contract that requires her insurance company to pay 100% of her medical costs for the remainder of the year.What clause is this likely to be?

Accepted Answer

A) coordination of benefits 
B) hospital indemnity clause 
C) coinsurance 
D) stop-loss provision 
E) major medical expense provision 
A) coordination of benefits 
B) hospital indemnity clause 
C) coinsurance 
D) stop-loss provision 
E) major medical expense provision

Question 6

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 7

Physician expense insurance coverage excludes visits to the doctor's office,x-rays,and lab tests.

Accepted Answer

A) True 
 B)False

Question 8

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 9

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

Accepted Answer

A) True 
 B)False

Question 10

Which type of health insurance is simply a bad buy?

Accepted Answer

A) individual health 
B) group health 
C) dread disease 
D) dental 
E) vision 
A) individual health 
B) group health 
C) dread disease 
D) dental 
E) vision

Question 11

Skilled nursing care beyond 100 days per benefit period is approved and covered by Medicare.

Accepted Answer

A) True 
 B)False

Question 12

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 13

Two sources of government health insurance are Medicare and Medicaid.

Accepted Answer

A) True 
 B)False

Question 14

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 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

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 17

Some employers provide disability income protection for their employees through group insurance plans.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following should you ask about when considering a long-term care insurance policy?

Accepted Answer

A) daily benefit 
B) benefit period 
C) policy limit 
D) elimination period 
E) all of the other answers 
A) daily benefit 
B) benefit period 
C) policy limit 
D) elimination period 
E) all of the other answers

Question 19

A good health insurance plan should impose no unreasonable exclusions.

Accepted Answer

A) True 
 B)False

Question 20

One reason for the high cost of health care is the use of sophisticated and expensive technologies.

Accepted Answer

A) True 
 B)False

Basic health insurance coverage includes hospital expense insurance,surgical expense insurance,and physician expense insurance.

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

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

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

Sophie Bennett has personally paid a total of $5,000 in medical costs this year.At this point,there is a clause in her insurance contract that requires her insurance company to pay 100% of her medical costs for the remainder of the year.What clause is this likely to be?

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.

Physician expense insurance coverage excludes visits to the doctor's office,x-rays,and lab tests.

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

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

Which type of health insurance is simply a bad buy?

Skilled nursing care beyond 100 days per benefit period is approved and covered by Medicare.

Medicare medical insurance is:

Two sources of government health insurance are Medicare and Medicaid.

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?

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

Group health insurance does which one of the following?

Some employers provide disability income protection for their employees through group insurance plans.

Which of the following should you ask about when considering a long-term care insurance policy?

A good health insurance plan should impose no unreasonable exclusions.

One reason for the high cost of health care is the use of sophisticated and expensive technologies.

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

Basic health insurance coverage includes hospital expense insurance,surgical expense insurance,and physician expense insurance.

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

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

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

Sophie Bennett has personally paid a total of $5,000 in medical costs this year.At this point,there is a clause in her insurance contract that requires her insurance company to pay 100% of her medical costs for the remainder of the year.What clause is this likely to be?

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.

Physician expense insurance coverage excludes visits to the doctor's office,x-rays,and lab tests.

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

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

Which type of health insurance is simply a bad buy?

Skilled nursing care beyond 100 days per benefit period is approved and covered by Medicare.

Medicare medical insurance is:

Two sources of government health insurance are Medicare and Medicaid.

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?

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

Group health insurance does which one of the following?

Some employers provide disability income protection for their employees through group insurance plans.

Which of the following should you ask about when considering a long-term care insurance policy?

A good health insurance plan should impose no unreasonable exclusions.

One reason for the high cost of health care is the use of sophisticated and expensive technologies.

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