Question 1

Social security provides health care coverage to persons age ____ and those who are ____.

Accepted Answer

A)  55 and over; collecting disability under Social Security 
B)  60 and over; collecting disability under Social Security. 
C)  65 and over; collecting disability under Social Security 
D)  60 and over; low income 
E)  60 and over; low income. 
A)  55 and over; collecting disability under Social Security 
B)  60 and over; collecting disability under Social Security. 
C)  65 and over; collecting disability under Social Security 
D)  60 and over; low income 
E)  60 and over; low income.

Question 2

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-During the past few decades,the percent of our income that we as a nation spend on health care has [increased | decreased].

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

Internal limits are constraints placed on insurance agents stipulating the level of risk for which they can write a policy.

Accepted Answer

A) True 
 B)False

Question 4

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-And about [one in five | one in seven] people between the ages of 35 and 65 will become disabled for five years or more.

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 5

Hospital insurance policies will pay for all hospital expenditures most of the time.

Accepted Answer

A) True 
 B)False

Question 6

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-After passage of the Affordable Care Act,many HMOs [require | do not require] members to pick one primary care physician.

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

Terms of payment and terms of coverage are two sets of provisions that should be carefully scrutinized when evaluating an insurance program.

Accepted Answer

A) True 
 B)False

Question 8

Disability income insurance will provide income to a disabled or ill person

Accepted Answer

A)  without a waiting period. 
B)  with unlimited funds for years. 
C)  with a waiting period before income is received. 
D)  with payments made to the recipient for up to age 70. 
E)  none of the above. 
A)  without a waiting period. 
B)  with unlimited funds for years. 
C)  with a waiting period before income is received. 
D)  with payments made to the recipient for up to age 70. 
E)  none of the above.

Question 9

Eating healthy and exercising is an acceptable substitute for comprehensive health care coverage.

Accepted Answer

A) True 
 B)False

Question 10

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-One complaint about HMOs in the past,as compared to traditional indemnity plans,is that [the cost was expensive | the care was not available for major illnesses | members couldn't always choose their physicians].

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

Disability income policies usually have ____ that is a time delay from the date of the issuance of the policy until benefit privileges are activated.

Accepted Answer

A)  waiting periods 
B)  probationary periods 
C)  elimination periods 
D)  internal limit periods 
E)  outer limits 
A)  waiting periods 
B)  probationary periods 
C)  elimination periods 
D)  internal limit periods 
E)  outer limits

Question 12

Suppose Janet,a skilled neuro-surgeon,became unable to perform surgery because of severe arthritis.Which of the following is NOT true?

Accepted Answer

A)  If Janet has a disability policy with an "own occupation" definition of disability,she will probably collect some benefits. 
B)  If the policy contains an "own occupation" definition of disability,the insurer will provide coverage only if Janet would not be able to perform another type of job such as teaching or consulting. 
C)  If the policy contains an "any occupation for which reasonable suited" definition of disability,the insurer will attempt to determine if there is another job for which Janet is suited and is still able to perform. 
D)  A policy with an "own occupation" definition is generally more expensive than a policy with an "any occupation for which reasonable suited" definition of disability. 
A)  If Janet has a disability policy with an "own occupation" definition of disability,she will probably collect some benefits. 
B)  If the policy contains an "own occupation" definition of disability,the insurer will provide coverage only if Janet would not be able to perform another type of job such as teaching or consulting. 
C)  If the policy contains an "any occupation for which reasonable suited" definition of disability,the insurer will attempt to determine if there is another job for which Janet is suited and is still able to perform. 
D)  A policy with an "own occupation" definition is generally more expensive than a policy with an "any occupation for which reasonable suited" definition of disability.

Question 13

Long-term care insurance provides protection against the cost of extended hospital stays.

Accepted Answer

A) True 
 B)False

Question 14

The Affordable Care Act's expenditures are to be financed by all of the following except

Accepted Answer

A)  Higher medicare taxes 
B)  Excise tax on certain "Cadillac" policies 
C)  Higher income taxes 
D)  Fees on insurers 
E)  Anticipated cost savings 
A)  Higher medicare taxes 
B)  Excise tax on certain "Cadillac" policies 
C)  Higher income taxes 
D)  Fees on insurers 
E)  Anticipated cost savings

Question 15

____ are required by many insurance plans to reduce the number of unnecessary surgeries.

Accepted Answer

A)  Deductibles 
B)  Waiting periods before the surgery is performed 
C)  Second opinions 
D)  Meetings with company surgical committees 
E)  Approval by hospital surgical committees 
A)  Deductibles 
B)  Waiting periods before the surgery is performed 
C)  Second opinions 
D)  Meetings with company surgical committees 
E)  Approval by hospital surgical committees

Question 16

Medicare Advantage supplemental benefits include all of the following except

Accepted Answer

A)  Vision 
B)  Dental 
C)  General checkups 
D)  Hospitalization 
E)  Wellness programs 
A)  Vision 
B)  Dental 
C)  General checkups 
D)  Hospitalization 
E)  Wellness programs

Question 17

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Workers Compensation would make payments to an injured worker [if he had been hurt on the job | only if he could prove negligence on the part of his employer].

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 18

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-The ["own occupation" | "any occupation"] definition of disability is more restrictive.

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 19

An Individual Practice Association differs from a HMO in that

Accepted Answer

A)  you have no choice of the physician. 
B)  they are located in a central facility. 
C)  associated doctors operate from their own offices. 
D)  they are less likely to be found in small communities. 
E)  none of these. 
A)  you have no choice of the physician. 
B)  they are located in a central facility. 
C)  associated doctors operate from their own offices. 
D)  they are less likely to be found in small communities. 
E)  none of these.

Question 20

Which of the following changes would tend to increase the premium on a disability policy:

Accepted Answer

A)  a shorter elimination period 
B)  use of "any occupation" definition of disability instead of "own occupation to which one is reasonably suited." 
C)  decreasing the benefit level from 50% to 66% of prior earnings. 
D)  decreasing the payment period from until age 65 to a maximum of 2 years. 
E)  none of the above would tend to increase the premium. 
A)  a shorter elimination period 
B)  use of "any occupation" definition of disability instead of "own occupation to which one is reasonably suited." 
C)  decreasing the benefit level from 50% to 66% of prior earnings. 
D)  decreasing the payment period from until age 65 to a maximum of 2 years. 
E)  none of the above would tend to increase the premium.

Social security provides health care coverage to persons age and those who are .

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -During the past few decades,the percent of our income that we as a nation spend on health care has [increased | decreased].

Internal limits are constraints placed on insurance agents stipulating the level of risk for which they can write a policy.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -And about [one in five | one in seven] people between the ages of 35 and 65 will become disabled for five years or more.

Hospital insurance policies will pay for all hospital expenditures most of the time.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -After passage of the Affordable Care Act,many HMOs [require | do not require] members to pick one primary care physician.

Terms of payment and terms of coverage are two sets of provisions that should be carefully scrutinized when evaluating an insurance program.

Disability income insurance will provide income to a disabled or ill person

Eating healthy and exercising is an acceptable substitute for comprehensive health care coverage.

Disability income policies usually have ____ that is a time delay from the date of the issuance of the policy until benefit privileges are activated.

Suppose Janet,a skilled neuro-surgeon,became unable to perform surgery because of severe arthritis.Which of the following is NOT true?

Long-term care insurance provides protection against the cost of extended hospital stays.

The Affordable Care Act's expenditures are to be financed by all of the following except

____ are required by many insurance plans to reduce the number of unnecessary surgeries.

Medicare Advantage supplemental benefits include all of the following except

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Workers Compensation would make payments to an injured worker [if he had been hurt on the job | only if he could prove negligence on the part of his employer].

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -The ["own occupation" | "any occupation"] definition of disability is more restrictive.

An Individual Practice Association differs from a HMO in that

Which of the following changes would tend to increase the premium on a disability policy:

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

Social security provides health care coverage to persons age ____ and those who are ____.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -During the past few decades,the percent of our income that we as a nation spend on health care has [increased | decreased].

Internal limits are constraints placed on insurance agents stipulating the level of risk for which they can write a policy.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -And about [one in five | one in seven] people between the ages of 35 and 65 will become disabled for five years or more.

Hospital insurance policies will pay for all hospital expenditures most of the time.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -After passage of the Affordable Care Act,many HMOs [require | do not require] members to pick one primary care physician.

Terms of payment and terms of coverage are two sets of provisions that should be carefully scrutinized when evaluating an insurance program.

Disability income insurance will provide income to a disabled or ill person

Eating healthy and exercising is an acceptable substitute for comprehensive health care coverage.

Disability income policies usually have ____ that is a time delay from the date of the issuance of the policy until benefit privileges are activated.

Suppose Janet,a skilled neuro-surgeon,became unable to perform surgery because of severe arthritis.Which of the following is NOT true?

Long-term care insurance provides protection against the cost of extended hospital stays.

The Affordable Care Act's expenditures are to be financed by all of the following except

____ are required by many insurance plans to reduce the number of unnecessary surgeries.

Medicare Advantage supplemental benefits include all of the following except

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Workers Compensation would make payments to an injured worker [if he had been hurt on the job | only if he could prove negligence on the part of his employer].

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -The ["own occupation" | "any occupation"] definition of disability is more restrictive.

An Individual Practice Association differs from a HMO in that

Which of the following changes would tend to increase the premium on a disability policy:

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

Social security provides health care coverage to persons age and those who are .