Question 1

The U.S.spends about ___% of our economic output on health care.

Accepted Answer

A)  5 
B)  9 
C)  13 
D)  17 
E)  20 
A)  5 
B)  9 
C)  13 
D)  17 
E)  20

Question 2

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Your health insurance will usually pay [the same | less] for mental health problems compared to physical problems.

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 3

Which of the following best describes a "pre-existing condition"?

Accepted Answer

A)  An exclusion. 
B)  Cancer,heart condition or other serious diseases. 
C)  An injury that results from an accident. 
D)  Something not covered by the insurance policy. 
E)  A medical condition for which one has previously been treated. 
A)  An exclusion. 
B)  Cancer,heart condition or other serious diseases. 
C)  An injury that results from an accident. 
D)  Something not covered by the insurance policy. 
E)  A medical condition for which one has previously been treated.

Question 4

HMOs require members to pick one primary care physician.

Accepted Answer

A) True 
 B)False

Question 5

Generally,insurance is more reasonably priced through group plans than as individual policies.

Accepted Answer

A) True 
 B)False

Question 6

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-The medicare coinsurance payment is usually [10% | 20%].

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. 
-A coordination of benefits provision in a health care policy would [aid | prohibit] collecting multiple payments for health care.

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

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-When there is a co-insurance or participation clause in a health insurance policy,the amount the insurance will pay is computed [before | after] the deductible is paid.

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 9

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Disability insurance is designed to [replace some of your income | pay medical bills] when you are disabled.

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

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-[Men | Women] are more likely to need long-term care insurance.

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 11

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-The longer the elimination or waiting period in your disability income policy,the [higher | lower] 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 12

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Physician's expense insurance [would | would not] pay for the cost of a routine office call.

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 13

Group health insurance premiums are usually lower than individual health insurance premiums.

Accepted Answer

A) True 
 B)False

Question 14

Health Maintenance Organizations (HMOs)provide pre-paid health care to participants.

Accepted Answer

A) True 
 B)False

Question 15

Comprehensive major medical simply increases the policy limits of major medical insurance without changing the coverage.

Accepted Answer

A) True 
 B)False

Question 16

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Medicare Advantage policies require payment from the policyholder in the form of [deductibles and coinsurance | copayments].

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 17

The fastest growing segment of the health care industry is

Accepted Answer

A)  fee for service plans. 
B)  Medicaid. 
C)  managed care plans. 
D)  All of these are growing at the same rate. 
E)  none of these. 
A)  fee for service plans. 
B)  Medicaid. 
C)  managed care plans. 
D)  All of these are growing at the same rate. 
E)  none of these.

Question 18

Hospital expense coverage is adequate for long-term or catastrophic medical needs of most people.

Accepted Answer

A) True 
 B)False

Question 19

Gabe is 58 years old and has been dependent on a cane for a couple of years.Gabe fears that he may need long term care services some day in the future.His net worth is $400,000 and he receives $50,000 per year in a pension.He considers himself to be in excellent health and has never had a serious health scare like a heart attack,stroke,or cancer.He eats lots of bran and exercises regularly.Which of the following policies would you recommend to Gabe?

Accepted Answer

A)  Gabe needs a disability income policy. 
B)  Gabe should buy a long term care policy with a long elimination period,lifetime benefits,and a COLA. 
C)  Gabe should buy a long term care policy with a five-year limit,short elimination period without a COLA. 
D)  Gabe doesn't need disability insurance and probably can't qualify for long term care insurance. 
E)  Gabe can qualify for Medicaid if and when he needs long term care services. 
A)  Gabe needs a disability income policy. 
B)  Gabe should buy a long term care policy with a long elimination period,lifetime benefits,and a COLA. 
C)  Gabe should buy a long term care policy with a five-year limit,short elimination period without a COLA. 
D)  Gabe doesn't need disability insurance and probably can't qualify for long term care insurance. 
E)  Gabe can qualify for Medicaid if and when he needs long term care services.

Question 20

Living a healthy lifestyle is an example of loss prevention and control.

Accepted Answer

A) True 
 B)False

The U.S.spends about ___% of our economic output on health care.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Your health insurance will usually pay [the same | less] for mental health problems compared to physical problems.

Which of the following best describes a "pre-existing condition"?

HMOs require members to pick one primary care physician.

Generally,insurance is more reasonably priced through group plans than as individual policies.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -The medicare coinsurance payment is usually [10% | 20%].

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -A coordination of benefits provision in a health care policy would [aid | prohibit] collecting multiple payments for health care.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -When there is a co-insurance or participation clause in a health insurance policy,the amount the insurance will pay is computed [before | after] the deductible is paid.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Disability insurance is designed to [replace some of your income | pay medical bills] when you are disabled.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -[Men | Women] are more likely to need long-term care insurance.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -The longer the elimination or waiting period in your disability income policy,the [higher | lower] the premiums.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Physician's expense insurance [would | would not] pay for the cost of a routine office call.

Group health insurance premiums are usually lower than individual health insurance premiums.

Health Maintenance Organizations (HMOs)provide pre-paid health care to participants.

Comprehensive major medical simply increases the policy limits of major medical insurance without changing the coverage.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Medicare Advantage policies require payment from the policyholder in the form of [deductibles and coinsurance | copayments].

The fastest growing segment of the health care industry is

Hospital expense coverage is adequate for long-term or catastrophic medical needs of most people.

Living a healthy lifestyle is an example of loss prevention and control.

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 U.S.spends about ___% of our economic output on health care.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Your health insurance will usually pay [the same | less] for mental health problems compared to physical problems.

Which of the following best describes a "pre-existing condition"?

HMOs require members to pick one primary care physician.

Generally,insurance is more reasonably priced through group plans than as individual policies.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -The medicare coinsurance payment is usually [10% | 20%].

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -A coordination of benefits provision in a health care policy would [aid | prohibit] collecting multiple payments for health care.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -When there is a co-insurance or participation clause in a health insurance policy,the amount the insurance will pay is computed [before | after] the deductible is paid.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Disability insurance is designed to [replace some of your income | pay medical bills] when you are disabled.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -[Men | Women] are more likely to need long-term care insurance.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -The longer the elimination or waiting period in your disability income policy,the [higher | lower] the premiums.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Physician's expense insurance [would | would not] pay for the cost of a routine office call.

Group health insurance premiums are usually lower than individual health insurance premiums.

Health Maintenance Organizations (HMOs)provide pre-paid health care to participants.

Comprehensive major medical simply increases the policy limits of major medical insurance without changing the coverage.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Medicare Advantage policies require payment from the policyholder in the form of [deductibles and coinsurance | copayments].

The fastest growing segment of the health care industry is

Hospital expense coverage is adequate for long-term or catastrophic medical needs of most people.

Living a healthy lifestyle is an example of loss prevention and control.

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