Question 1

The major emphasis of dental insurance is to cover only extractions and x-rays.

Accepted Answer

A) True 
 B)False

Question 2

Health insurance policies automatically cover all family members.

Accepted Answer

A) True 
 B)False

Question 3

Blue Cross provides hospital coverage and Blue Shield provides prescription pharmacy coverage.

Accepted Answer

A) True 
 B)False

Question 4

If your employment is terminated,COBRA provides for

Accepted Answer

A)  cancellation of all group insurance benefits. 
B)  continuation of group insurance benefits until you are reemployed. 
C)  permanent continuation of group health insurance. 
D)  temporary continuation of group insurance benefits; you pay premiums. 
E)  temporary continuation of group insurance benefits; employer pays premiums. 
A)  cancellation of all group insurance benefits. 
B)  continuation of group insurance benefits until you are reemployed. 
C)  permanent continuation of group health insurance. 
D)  temporary continuation of group insurance benefits; you pay premiums. 
E)  temporary continuation of group insurance benefits; employer pays premiums.

Question 5

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-The average age of the American population is [decreasing | increasing].

Accepted Answer

A) for the first item 
B) for the second item 
C) if neither item will correctly complete the statement. 
A) for the first item 
B) for the second item 
C) if neither item will correctly complete the statement.

Question 6

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-One difference between health maintenance organizations (HMOs)and individual practice associations (IPAs)is that [HMOs cost much less | IPAs do not provide services from a central location].

Accepted Answer

A) for the first item 
B) for the second item 
C) if neither item will correctly complete the statement. 
A) for the first item 
B) for the second item 
C) if neither item will correctly complete the statement.

Question 7

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Traditional indemnity policies reimburse the insured based on the [amount charged | usual,customary,and reasonable charges] for the medical services received.

Accepted Answer

A) for the first item 
B) for the second item 
C) if neither item will correctly complete the statement. 
A) for the first item 
B) for the second item 
C) if neither item will correctly complete the statement.

Question 8

Mental illness is normally not covered in health insurance policies.

Accepted Answer

A) True 
 B)False

Question 9

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-If you are laid off,your health insurance [can be continued at the employer's option | must be continued if you pay the premiums].

Accepted Answer

A) for the first item 
B) for the second item 
C) if neither item will correctly complete the statement. 
A) for the first item 
B) for the second item 
C) if neither item will correctly complete the statement.

Question 10

Medicare Advantage policies require payment from the policyholder in the form of a

Accepted Answer

A)  Deductible 
B)  Co-insurance 
C)  Copayment 
D)  Excess charge 
E)  a and b 
A)  Deductible 
B)  Co-insurance 
C)  Copayment 
D)  Excess charge 
E)  a and b

Question 11

Which of the following is most likely to need and be able to obtain a long-term care policy?

Accepted Answer

A)  Mike is 35,in excellent health,single and makes $56,000 per year. 
B)  Clare is 47,in poor health (cancer),married and makes $27,000 per year. 
C)  Gail is 78,has been diagnosed with senile dementia,and is retired with a net worth of $500,000. 
D)  Steve is 56,in good health,makes $75,000 per year and has a net worth of $750,000. 
E)  Ava is 63,married,makes $73,000 per year and has a net worth of $4,000,000 
A)  Mike is 35,in excellent health,single and makes $56,000 per year. 
B)  Clare is 47,in poor health (cancer),married and makes $27,000 per year. 
C)  Gail is 78,has been diagnosed with senile dementia,and is retired with a net worth of $500,000. 
D)  Steve is 56,in good health,makes $75,000 per year and has a net worth of $750,000. 
E)  Ava is 63,married,makes $73,000 per year and has a net worth of $4,000,000

Question 12

A "coordination of benefits" provision in a health insurance policy provides which of the following benefits?

Accepted Answer

A)  Allows the policy holder to be double-covered for the same loss. 
B)  Provides broader coverage than a policy without such provision. 
C)  Often results in lower cost insurance premiums. 
D)  Drops pre-existing conditions clauses from a policy. 
E)  All of the above 
A)  Allows the policy holder to be double-covered for the same loss. 
B)  Provides broader coverage than a policy without such provision. 
C)  Often results in lower cost insurance premiums. 
D)  Drops pre-existing conditions clauses from a policy. 
E)  All of the above

Question 13

An elimination period in disability income insurance is most closely analogous to which of the following cost sharing provisions in health insurance?

Accepted Answer

A)  deductible 
B)  coinsurance 
C)  limit 
D)  cap 
E)  all of the above closely resemble an elimination period 
A)  deductible 
B)  coinsurance 
C)  limit 
D)  cap 
E)  all of the above closely resemble an elimination period

Question 14

Most group insurance policies require a second opinion for non-surgical procedures.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is not a desirable feature in a long-term care policy?

Accepted Answer

A)  inflation protection 
B)  optional renewability clause 
C)  duration of benefits of 6 years 
D)  coverage for Alzheimer's disease 
E)  coverage for preexisting conditions 
A)  inflation protection 
B)  optional renewability clause 
C)  duration of benefits of 6 years 
D)  coverage for Alzheimer's disease 
E)  coverage for preexisting conditions

Question 16

Blue Cross / Blue Shield plans are really hybrid HMOs that allow members to go outside of network.

Accepted Answer

A) True 
 B)False

Question 17

Medicare and Medicaid are hospital and physicians coverage,respectively.

Accepted Answer

A) True 
 B)False

Question 18

A deductible clause in major medical insurance plans is most often on a per year basis.

Accepted Answer

A) True 
 B)False

Question 19

Activities of daily living (ADLs)are important in determining ____ for long-term care insurance.

Accepted Answer

A)  type of care 
B)  services covered 
C)  waiting period 
D)  eligibility 
E)  benefit duration 
A)  type of care 
B)  services covered 
C)  waiting period 
D)  eligibility 
E)  benefit duration

Question 20

An elimination period is a term that applies to disability insurance and does not have any meaning in long-term care insurance.

Accepted Answer

A) True 
 B)False

The major emphasis of dental insurance is to cover only extractions and x-rays.

Health insurance policies automatically cover all family members.

Blue Cross provides hospital coverage and Blue Shield provides prescription pharmacy coverage.

If your employment is terminated,COBRA provides for

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -The average age of the American population is [decreasing | increasing].

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -One difference between health maintenance organizations (HMOs)and individual practice associations (IPAs)is that [HMOs cost much less | IPAs do not provide services from a central location].

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Traditional indemnity policies reimburse the insured based on the [amount charged | usual,customary,and reasonable charges] for the medical services received.

Mental illness is normally not covered in health insurance policies.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -If you are laid off,your health insurance [can be continued at the employer's option | must be continued if you pay the premiums].

Medicare Advantage policies require payment from the policyholder in the form of a

Which of the following is most likely to need and be able to obtain a long-term care policy?

A "coordination of benefits" provision in a health insurance policy provides which of the following benefits?

An elimination period in disability income insurance is most closely analogous to which of the following cost sharing provisions in health insurance?

Most group insurance policies require a second opinion for non-surgical procedures.

Which of the following is not a desirable feature in a long-term care policy?

Blue Cross / Blue Shield plans are really hybrid HMOs that allow members to go outside of network.

Medicare and Medicaid are hospital and physicians coverage,respectively.

A deductible clause in major medical insurance plans is most often on a per year basis.

Activities of daily living (ADLs)are important in determining ____ for long-term care insurance.

An elimination period is a term that applies to disability insurance and does not have any meaning in long-term care insurance.

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

Planning for Retirement

Preserving Your Estate

Filters

Exam 9: Insuring Your Health

The major emphasis of dental insurance is to cover only extractions and x-rays.

Health insurance policies automatically cover all family members.

Blue Cross provides hospital coverage and Blue Shield provides prescription pharmacy coverage.

If your employment is terminated,COBRA provides for

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -The average age of the American population is [decreasing | increasing].

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -One difference between health maintenance organizations (HMOs)and individual practice associations (IPAs)is that [HMOs cost much less | IPAs do not provide services from a central location].

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Traditional indemnity policies reimburse the insured based on the [amount charged | usual,customary,and reasonable charges] for the medical services received.

Mental illness is normally not covered in health insurance policies.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -If you are laid off,your health insurance [can be continued at the employer's option | must be continued if you pay the premiums].

Medicare Advantage policies require payment from the policyholder in the form of a

Which of the following is most likely to need and be able to obtain a long-term care policy?

A "coordination of benefits" provision in a health insurance policy provides which of the following benefits?

An elimination period in disability income insurance is most closely analogous to which of the following cost sharing provisions in health insurance?

Most group insurance policies require a second opinion for non-surgical procedures.

Which of the following is not a desirable feature in a long-term care policy?

Blue Cross / Blue Shield plans are really hybrid HMOs that allow members to go outside of network.

Medicare and Medicaid are hospital and physicians coverage,respectively.

A deductible clause in major medical insurance plans is most often on a per year basis.

Activities of daily living (ADLs)are important in determining ____ for long-term care insurance.

An elimination period is a term that applies to disability insurance and does not have any meaning in long-term care insurance.

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

Planning for Retirement

Preserving Your Estate

Filters