Question 1

Blue Cross and Blue Shield are

Accepted Answer

A)  Health maintenance organizations (HMO). 
B)  Private insurance companies. 
C)  Hospital and medical service plans. 
D)  Types of Medicare. 
E)  Preferred provider organizations (PPO). 
A)  Health maintenance organizations (HMO). 
B)  Private insurance companies. 
C)  Hospital and medical service plans. 
D)  Types of Medicare. 
E)  Preferred provider organizations (PPO).

Question 2

The set amount that you must pay toward medical expenses before the insurance company pays benefits is called

Accepted Answer

A)  Reimbursement. 
B)  Out-of-pocket limit. 
C)  Deductible. 
D)  Internal limit. 
E)  Indemnity. 
A)  Reimbursement. 
B)  Out-of-pocket limit. 
C)  Deductible. 
D)  Internal limit. 
E)  Indemnity.

Question 3

Health care costs have decreased because of aging baby boomers using fewer health care services.

Accepted Answer

A) True 
 B)False

Question 4

The financial problems caused by death are greater than those caused by disability.

Accepted Answer

A) True 
 B)False

Question 5

Health insurance is an important type of protection for many people.What is the primary source of health insurance?
 What other options are available?

Accepted Answer

Most people who have health insurance ar

Question 6

What is guaranteed renewability?

Accepted Answer

Guaranteed renewability is a provision i

Question 7

The type of health insurance coverage that may cover routine doctor visits,X-rays,and lab tests is

Accepted Answer

A)  Dental expense. 
B)  Surgical expense. 
C)  Hospital expense. 
D)  Physician expense. 
E)  Major medical expense. 
A)  Dental expense. 
B)  Surgical expense. 
C)  Hospital expense. 
D)  Physician expense. 
E)  Major medical expense.

Question 8

Peter has a health insurance policy that includes a deductible of $1,500,a coinsurance of 20%,and a stop-loss of $5,000.If his total bill is $20,000,how much will he pay?
 Show all calculations and

Accepted Answer

Peter will pay either the calculated amo

Question 9

The Health Insurance Portability and Accountability Act of 1996

Accepted Answer

A)  Sets federal standards to ensure that workers do not lose their health insurance if they change jobs. 
B)  Sets state standards to ensure that workers do not lose their health insurance if they change jobs. 
C)  Applies to individual health insurance policies. 
D)  Prevents employees from moving from one group health plan to another without a lapse in coverage. 
E)  Is an update of the Consolidated Omnibus Budget Reconciliation Act of 1986. 
A)  Sets federal standards to ensure that workers do not lose their health insurance if they change jobs. 
B)  Sets state standards to ensure that workers do not lose their health insurance if they change jobs. 
C)  Applies to individual health insurance policies. 
D)  Prevents employees from moving from one group health plan to another without a lapse in coverage. 
E)  Is an update of the Consolidated Omnibus Budget Reconciliation Act of 1986.

Question 10

A summary plan description outlines the disadvantages of your health plan along with your legal rights under the Employment Retirement Income Security Act.

Accepted Answer

A) True 
 B)False

Question 11

If you choose a Medicare Advantage Plan (Part C),you will not need the original Medicare plan (Parts A and B).

Accepted Answer

A) True 
 B)False

Question 12

Medicare typically covers routine checkups.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is INCORRECT about dread disease policies?

Accepted Answer

A)  They are illegal in many states. 
B)  Each policy covers a wide range of conditions. 
C)  They play upon unrealistic fears. 
D)  These policies are usually sold through the mail, in newspapers, and magazines, or by door-to-door salespeople. 
E)  They cover diseases that are already covered if you are insured under a major medical plan. 
A)  They are illegal in many states. 
B)  Each policy covers a wide range of conditions. 
C)  They play upon unrealistic fears. 
D)  These policies are usually sold through the mail, in newspapers, and magazines, or by door-to-door salespeople. 
E)  They cover diseases that are already covered if you are insured under a major medical plan.

Question 14

This health insurance provision lets your insurer make direct payments to your doctor or hospital.

Accepted Answer

A)  Assigned benefits 
B)  Benefit limits 
C)  Exclusions and limitations 
D)  Internal limits 
E)  Service benefits 
A)  Assigned benefits 
B)  Benefit limits 
C)  Exclusions and limitations 
D)  Internal limits 
E)  Service benefits

Question 15

Under the 2010 health care reform law,which of the following is NOT correct?

Accepted Answer

A)  Adult children can remain on their parents' insurance policy until age 26. 
B)  Most insurers must provide preventive care screenings without charging deductibles or co-pays. 
C)  Employers must offer continuing coverage through COBRA for up to 24 months after you leave your job. 
D)  Two of these are not correct. 
E)  None of these are correct. 
A)  Adult children can remain on their parents' insurance policy until age 26. 
B)  Most insurers must provide preventive care screenings without charging deductibles or co-pays. 
C)  Employers must offer continuing coverage through COBRA for up to 24 months after you leave your job. 
D)  Two of these are not correct. 
E)  None of these are correct.

Question 16

A deductible is the amount you must pay before benefits become payable by the insurance company.

Accepted Answer

A) True 
 B)False

Question 17

Individuals over the age of 65 who are eligible for federal government health plan coverage may also be interested in purchasing more coverage called

Accepted Answer

A) Medicare Part A. 
B) Medicare Part B. 
C) Medicaid. 
D) Medigap. 
E) Statewide health coverage. 
A) Medicare Part A. 
B) Medicare Part B. 
C) Medicaid. 
D) Medigap. 
E) Statewide health coverage.

Question 18

Jack needs comprehensive medical coverage; however,his income is quite low.What plan should he investigate?

Accepted Answer

A)  Medicare Part A 
B)  Medicare Part B 
C)  Medicaid 
D)  Medigap 
E)  Medicare Part C 
A)  Medicare Part A 
B)  Medicare Part B 
C)  Medicaid 
D)  Medigap 
E)  Medicare Part C

Question 19

A Medigap policy fills the gap between medical costs and medical payments from

Accepted Answer

A)  Home health care agencies. 
B)  Hospital and medical service plans. 
C)  Medicare. 
D)  Medicaid. 
E)  Private insurance companies. 
A)  Home health care agencies. 
B)  Hospital and medical service plans. 
C)  Medicare. 
D)  Medicaid. 
E)  Private insurance companies.

Question 20

The Health Insurance and the Patient Protection and Affordable Care Act of 2010 requires health insurance companies to submit justification for all requested premium increases.

Accepted Answer

A) True 
 B)False

Blue Cross and Blue Shield are

The set amount that you must pay toward medical expenses before the insurance company pays benefits is called

Health care costs have decreased because of aging baby boomers using fewer health care services.

The financial problems caused by death are greater than those caused by disability.

Health insurance is an important type of protection for many people.What is the primary source of health insurance? What other options are available?

What is guaranteed renewability?

The type of health insurance coverage that may cover routine doctor visits,X-rays,and lab tests is

Peter has a health insurance policy that includes a deductible of $1,500,a coinsurance of 20%,and a stop-loss of $5,000.If his total bill is $20,000,how much will he pay? Show all calculations and

The Health Insurance Portability and Accountability Act of 1996

A summary plan description outlines the disadvantages of your health plan along with your legal rights under the Employment Retirement Income Security Act.

If you choose a Medicare Advantage Plan (Part C),you will not need the original Medicare plan (Parts A and B).

Medicare typically covers routine checkups.

Which of the following is INCORRECT about dread disease policies?

This health insurance provision lets your insurer make direct payments to your doctor or hospital.

Under the 2010 health care reform law,which of the following is NOT correct?

A deductible is the amount you must pay before benefits become payable by the insurance company.

Individuals over the age of 65 who are eligible for federal government health plan coverage may also be interested in purchasing more coverage called

Jack needs comprehensive medical coverage; however,his income is quite low.What plan should he investigate?

A Medigap policy fills the gap between medical costs and medical payments from

The Health Insurance and the Patient Protection and Affordable Care Act of 2010 requires health insurance companies to submit justification for all requested premium increases.

Personal Financial Planning in Action

Money Management Skills

Taxes in Your Financial Plan

Financial Services: Savings Plans and Payment Account

Consumer Credit: Advantages, Dis-Advantages, Sources, and Costs

Consumer Purchasing Strategies and Wise Buying of Motor Vehicles

Selecting and Financing Housing

Home and Automobile Insurance

Financial Planning With Life Insurance

Investing Basics and Evaluating Bonds

Investing in Stocks

Investing in Mutual Funds

Starting Early: Retirement and Estate Planning

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Exam 9: Health and Disability Income Insurance

Blue Cross and Blue Shield are

The set amount that you must pay toward medical expenses before the insurance company pays benefits is called

Health care costs have decreased because of aging baby boomers using fewer health care services.

The financial problems caused by death are greater than those caused by disability.

Health insurance is an important type of protection for many people.What is the primary source of health insurance? What other options are available?

What is guaranteed renewability?

The type of health insurance coverage that may cover routine doctor visits,X-rays,and lab tests is

Peter has a health insurance policy that includes a deductible of $1,500,a coinsurance of 20%,and a stop-loss of $5,000.If his total bill is $20,000,how much will he pay? Show all calculations and

The Health Insurance Portability and Accountability Act of 1996

A summary plan description outlines the disadvantages of your health plan along with your legal rights under the Employment Retirement Income Security Act.

If you choose a Medicare Advantage Plan (Part C),you will not need the original Medicare plan (Parts A and B).

Medicare typically covers routine checkups.

Which of the following is INCORRECT about dread disease policies?

This health insurance provision lets your insurer make direct payments to your doctor or hospital.

Under the 2010 health care reform law,which of the following is NOT correct?

A deductible is the amount you must pay before benefits become payable by the insurance company.

Individuals over the age of 65 who are eligible for federal government health plan coverage may also be interested in purchasing more coverage called

Jack needs comprehensive medical coverage; however,his income is quite low.What plan should he investigate?

A Medigap policy fills the gap between medical costs and medical payments from

The Health Insurance and the Patient Protection and Affordable Care Act of 2010 requires health insurance companies to submit justification for all requested premium increases.

Personal Financial Planning in Action

Money Management Skills

Taxes in Your Financial Plan

Financial Services: Savings Plans and Payment Account

Consumer Credit: Advantages, Dis-Advantages, Sources, and Costs

Consumer Purchasing Strategies and Wise Buying of Motor Vehicles

Selecting and Financing Housing

Home and Automobile Insurance

Financial Planning With Life Insurance

Investing Basics and Evaluating Bonds

Investing in Stocks

Investing in Mutual Funds

Starting Early: Retirement and Estate Planning

Filters