Question 1

The "O" in COBRA stands for which of the following words?

Accepted Answer

A)  optical 
B)  opportunity 
C)  ordinary 
D)  omnibus 
E)  occupational 
A)  optical 
B)  opportunity 
C)  ordinary 
D)  omnibus 
E)  occupational

Question 2

If you are trying to keep your disability income premiums reasonably priced but still appropriate for insuring your financial needs,select a short elimination period and a short duration of benefits.

Accepted Answer

A) True 
 B)False

Question 3

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Premiums for Workers Compensation are paid by the [employees | employers].

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 4

A characteristic of dental insurance is

Accepted Answer

A)  high cost. 
B)  dentist financing. 
C)  high deductible limits. 
D)  lack of orthodontic coverage. 
E)  low maximum limits. 
A)  high cost. 
B)  dentist financing. 
C)  high deductible limits. 
D)  lack of orthodontic coverage. 
E)  low maximum limits.

Question 5

Payments under workers compensation are more readily available than are social security disability benefits.

Accepted Answer

A) True 
 B)False

Question 6

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-[Medicare | Medicaid] makes health care payments available for anyone over age 65.

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

Millions of Americans are not covered by health insurance.

Accepted Answer

A) True 
 B)False

Question 8

About ___ million Americans lack health insurance.

Accepted Answer

A)  10 
B)  30 
C)  50 
D)  75 
E)  100 
A)  10 
B)  30 
C)  50 
D)  75 
E)  100

Question 9

A preferred provider organization has characteristics of both managed care and an indemnity plan.

Accepted Answer

A) True 
 B)False

Question 10

Suppose a person has a health insurance policy with a $500 calendar year deductible,a $2,000 out-of-pocket cap,and an 80% coinsurance provision.If this person suffers a $600 covered loss,how much will the insurance company pay? (Assume no previous losses have occurred.)

Accepted Answer

A)  $ 80 
B)  $100 
C)  $480 
D)  $600 
E)  some other amount 
A)  $ 80 
B)  $100 
C)  $480 
D)  $600 
E)  some other amount

Question 11

Hospital insurance will pay daily room and board charges up to a specified number of days and reimbursement for ancillary charges up to a specified dollar amount.

Accepted Answer

A) True 
 B)False

Question 12

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Your health insurance stipulates that you will pay the first $500 of your health care expenses for the year.This is an example of a [deductible | co-payment].

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

One drawback of long-term care insurance is its

Accepted Answer

A)  high annual premiums. 
B)  overlap with Medicare. 
C)  inability to cover custodial care. 
D)  relatively high deductible. 
E)  relatively high coinsurance requirement. 
A)  high annual premiums. 
B)  overlap with Medicare. 
C)  inability to cover custodial care. 
D)  relatively high deductible. 
E)  relatively high coinsurance requirement.

Question 14

Your health insurance has an 80% co-insurance clause.Once the deductible is satisfied,your insurance company will pay 80% of your covered losses up to the stated limits.

Accepted Answer

A) True 
 B)False

Question 15

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Medicare Advantage supplemental benefits include [lab tests | wellness programs].

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 16

Disability income benefits under social security are automatically adjusted periodically for cost of living increases.

Accepted Answer

A) True 
 B)False

Question 17

Major medical often supplements the basic coverage of hospital,surgical,and physician's expense insurance.

Accepted Answer

A) True 
 B)False

Question 18

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Loss prevention tactics can be [only marginally | very] successful in reducing accidents and illnesses.

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

When trying to determine your disability income needs,you should consider available sick leave,income needs,and

Accepted Answer

A)  social security benefits. 
B)  surgical expense protection. 
C)  Medicare. 
D)  life insurance. 
E)  income tax bracket. 
A)  social security benefits. 
B)  surgical expense protection. 
C)  Medicare. 
D)  life insurance. 
E)  income tax bracket.

Question 20

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-Disability income benefits are taxable when the policy premiums were paid by the [employer | employee].

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.

The "O" in COBRA stands for which of the following words?

If you are trying to keep your disability income premiums reasonably priced but still appropriate for insuring your financial needs,select a short elimination period and a short duration of benefits.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Premiums for Workers Compensation are paid by the [employees | employers].

A characteristic of dental insurance is

Payments under workers compensation are more readily available than are social security disability benefits.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -[Medicare | Medicaid] makes health care payments available for anyone over age 65.

Millions of Americans are not covered by health insurance.

About ___ million Americans lack health insurance.

A preferred provider organization has characteristics of both managed care and an indemnity plan.

Suppose a person has a health insurance policy with a $500 calendar year deductible,a $2,000 out-of-pocket cap,and an 80% coinsurance provision.If this person suffers a $600 covered loss,how much will the insurance company pay? (Assume no previous losses have occurred.)

Hospital insurance will pay daily room and board charges up to a specified number of days and reimbursement for ancillary charges up to a specified dollar amount.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Your health insurance stipulates that you will pay the first $500 of your health care expenses for the year.This is an example of a [deductible | co-payment].

One drawback of long-term care insurance is its

Your health insurance has an 80% co-insurance clause.Once the deductible is satisfied,your insurance company will pay 80% of your covered losses up to the stated limits.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Medicare Advantage supplemental benefits include [lab tests | wellness programs].

Disability income benefits under social security are automatically adjusted periodically for cost of living increases.

Major medical often supplements the basic coverage of hospital,surgical,and physician's expense insurance.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Loss prevention tactics can be [only marginally | very] successful in reducing accidents and illnesses.

When trying to determine your disability income needs,you should consider available sick leave,income needs,and

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Disability income benefits are taxable when the policy premiums were paid by the [employer | employee].

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

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Exam 9: Insuring Your Health

The "O" in COBRA stands for which of the following words?

If you are trying to keep your disability income premiums reasonably priced but still appropriate for insuring your financial needs,select a short elimination period and a short duration of benefits.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Premiums for Workers Compensation are paid by the [employees | employers].

A characteristic of dental insurance is

Payments under workers compensation are more readily available than are social security disability benefits.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -[Medicare | Medicaid] makes health care payments available for anyone over age 65.

Millions of Americans are not covered by health insurance.

About ___ million Americans lack health insurance.

A preferred provider organization has characteristics of both managed care and an indemnity plan.

Suppose a person has a health insurance policy with a $500 calendar year deductible,a $2,000 out-of-pocket cap,and an 80% coinsurance provision.If this person suffers a $600 covered loss,how much will the insurance company pay? (Assume no previous losses have occurred.)

Hospital insurance will pay daily room and board charges up to a specified number of days and reimbursement for ancillary charges up to a specified dollar amount.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Your health insurance stipulates that you will pay the first $500 of your health care expenses for the year.This is an example of a [deductible | co-payment].

One drawback of long-term care insurance is its

Your health insurance has an 80% co-insurance clause.Once the deductible is satisfied,your insurance company will pay 80% of your covered losses up to the stated limits.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Medicare Advantage supplemental benefits include [lab tests | wellness programs].

Disability income benefits under social security are automatically adjusted periodically for cost of living increases.

Major medical often supplements the basic coverage of hospital,surgical,and physician's expense insurance.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Loss prevention tactics can be [only marginally | very] successful in reducing accidents and illnesses.

When trying to determine your disability income needs,you should consider available sick leave,income needs,and

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. -Disability income benefits are taxable when the policy premiums were paid by the [employer | employee].

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