Question 1

Long-term care policies

Accepted Answer

A) commonly have an elimination period (waiting period)of between 60 and 90 days before the policies will begin to pay 
B) are relatively inexpensive and are a good value for those over 60 
C) are not adjusted for inflation,so care must be taken to estimate future costs 
D) All of the above 
A) commonly have an elimination period (waiting period)of between 60 and 90 days before the policies will begin to pay 
B) are relatively inexpensive and are a good value for those over 60 
C) are not adjusted for inflation,so care must be taken to estimate future costs 
D) All of the above A

Question 2

Policy premiums for long-term care insurance are relatively low,even for those over 60 years old.

Accepted Answer

A) True 
 B)False  False

Question 3

________ insurance serves as a backup for expenses not covered by basic health insurance.

Accepted Answer

A) Excess hospitalization insurance 
B) Surgical expense insurance 
C) Major medical insurance 
D) Physician expense insurance 
A) Excess hospitalization insurance 
B) Surgical expense insurance 
C) Major medical insurance 
D) Physician expense insurance C

Question 4

The federal law that allows you to continue health insurance coverage through your former employer's plan for 18 months after you stop work is

Accepted Answer

A) HIPAA 
B) COBRA 
C) Social Security 
D) Medicare 
A) HIPAA 
B) COBRA 
C) Social Security 
D) Medicare

Question 5

Regarding a flexible spending account,which of the following is not true?

Accepted Answer

A) You may put a predetermined amount of your pre-tax salary in the account monthly. 
B) The money may be used throughout the year to pay medical or dental expenses tax-free. 
C) If you don't use the funds during the year,you lose them. 
D) Your employer will match your funds dollar-for-dollar. 
A) You may put a predetermined amount of your pre-tax salary in the account monthly. 
B) The money may be used throughout the year to pay medical or dental expenses tax-free. 
C) If you don't use the funds during the year,you lose them. 
D) Your employer will match your funds dollar-for-dollar.

Question 6

Disability insurance policies usually cover

Accepted Answer

A) actual expenses incurred. 
B) a minimum dollar amount. 
C) a percentage of your income before you were disabled. 
D) Any of the above. 
A) actual expenses incurred. 
B) a minimum dollar amount. 
C) a percentage of your income before you were disabled. 
D) Any of the above.

Question 7

Health care providers who are part of an HMO are paid a predetermined amount of compensation per month for each patient who participates in the plan.

Accepted Answer

A) True 
 B)False

Question 8

Medicaid is health insurance for the poor and is administered by each state within certain broad federal requirements and guidelines.

Accepted Answer

A) True 
 B)False

Question 9

The best disability plans pay you if you are not able to work at any job,not just your regular job.

Accepted Answer

A) True 
 B)False

Question 10

Private health insurance plans contain all of the following coverage except

Accepted Answer

A) hospital insurance. 
B) nursing home insurance. 
C) physician insurance. 
D) surgical insurance. 
A) hospital insurance. 
B) nursing home insurance. 
C) physician insurance. 
D) surgical insurance.

Question 11

The cost of health care has risen dramatically in recent years due to all except

Accepted Answer

A) people living longer and requiring attention for longer periods of time. 
B) the high cost of technology in health care. 
C) reduced litigation costs. 
D) the bureaucratic processes of reimbursement and claim handling. 
A) people living longer and requiring attention for longer periods of time. 
B) the high cost of technology in health care. 
C) reduced litigation costs. 
D) the bureaucratic processes of reimbursement and claim handling.

Question 12

How much would be owed by the patient on a $3,000 bill if a PPO uses a discount on charge arrangement wherein the percentage paid to the provider is 70 percent and the patient's co-pay,as specified by the PPO,is 20 percent?
(a)$600
(b)$700
(c)$420
(d)$200

Accepted Answer

(c)$3,000

Question 13

The managed health care plan with higher costs,but a greater choice of health care providers is the ________.

Accepted Answer

The answer of The managed health care plan with higher...

Question 14

What are some of your considerations in choosing a long-term care insurance policy?

Accepted Answer

You should look at your family's health

Question 15

Before you decide to take out an individual disability policy,you should consider all of the following except

Accepted Answer

A) amount of home mortgage. 
B) cost of gasoline commuting to and from work. 
C) employer disability insurance policy. 
D) dividends received from stock portfolio. 
A) amount of home mortgage. 
B) cost of gasoline commuting to and from work. 
C) employer disability insurance policy. 
D) dividends received from stock portfolio.

Question 16

Which of the following is an advantage of a PPO compared to an HMO?

Accepted Answer

A) The premiums are lower. 
B) There are more choices of specialized health care providers. 
C) There are no out-of-pocket expenses. 
D) No approval is needed to see a specialist. 
A) The premiums are lower. 
B) There are more choices of specialized health care providers. 
C) There are no out-of-pocket expenses. 
D) No approval is needed to see a specialist.

Question 17

Tom purchased disability insurance that will provide $1,400 per month in benefits.His employer carries a disability policy on Tom that will provide an additional $600 per month in benefits.If Tom's monthly budget is $2,500 and Tom is anticipating no additional disability benefits from any other source,what is Tom estimating as his work-related monthly expenditures.
(a)$500
(b)$600
(c)$2,000
(d)$2,500

Accepted Answer

(a)$2,500

Question 18

Health insurance protects net worth by minimizing the chance that you will have to reduce savings or incur debt when you require medical attention.

Accepted Answer

A) True 
 B)False

Question 19

In purchasing disability insurance,you should consider all of the following except the

Accepted Answer

A) waiting period. 
B) probationary period. 
C) length of the benefits. 
D) cost of the policy. 
A) waiting period. 
B) probationary period. 
C) length of the benefits. 
D) cost of the policy.

Question 20

What steps would you take to evaluate and choose health care insurance options?

Accepted Answer

First,you should check with your employe

Long-term care policies

Policy premiums for long-term care insurance are relatively low,even for those over 60 years old.

________ insurance serves as a backup for expenses not covered by basic health insurance.

The federal law that allows you to continue health insurance coverage through your former employer's plan for 18 months after you stop work is

Regarding a flexible spending account,which of the following is not true?

Disability insurance policies usually cover

Health care providers who are part of an HMO are paid a predetermined amount of compensation per month for each patient who participates in the plan.

Medicaid is health insurance for the poor and is administered by each state within certain broad federal requirements and guidelines.

The best disability plans pay you if you are not able to work at any job,not just your regular job.

Private health insurance plans contain all of the following coverage except

The cost of health care has risen dramatically in recent years due to all except

How much would be owed by the patient on a $3,000 bill if a PPO uses a discount on charge arrangement wherein the percentage paid to the provider is 70 percent and the patient's co-pay,as specified by the PPO,is 20 percent? (a)$600 (b)$700 (c)$420 (d)$200

The managed health care plan with higher costs,but a greater choice of health care providers is the ________.

What are some of your considerations in choosing a long-term care insurance policy?

Before you decide to take out an individual disability policy,you should consider all of the following except

Which of the following is an advantage of a PPO compared to an HMO?

Health insurance protects net worth by minimizing the chance that you will have to reduce savings or incur debt when you require medical attention.

In purchasing disability insurance,you should consider all of the following except the

What steps would you take to evaluate and choose health care insurance options?

Overview of a Financial Plan

Planning With Personal Financial Statements

Applying Time Value Concepts

Using Tax Concepts for Planning

Banking and Interest Rates

Managing Your Money

Assessing and Securing Your Credit

Managing Your Credit

Personal Loans

Purchasing and Financing a Home

Auto and Homeowners Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Asset Allocation

Retirement Planning

Estate Planning

Integrating the Components of a Financial Plan

Filters

Exam 12: Health and Disability Insurance

Long-term care policies

Policy premiums for long-term care insurance are relatively low,even for those over 60 years old.

________ insurance serves as a backup for expenses not covered by basic health insurance.

The federal law that allows you to continue health insurance coverage through your former employer's plan for 18 months after you stop work is

Regarding a flexible spending account,which of the following is not true?

Disability insurance policies usually cover

Health care providers who are part of an HMO are paid a predetermined amount of compensation per month for each patient who participates in the plan.

Medicaid is health insurance for the poor and is administered by each state within certain broad federal requirements and guidelines.

The best disability plans pay you if you are not able to work at any job,not just your regular job.

Private health insurance plans contain all of the following coverage except

The cost of health care has risen dramatically in recent years due to all except

How much would be owed by the patient on a $3,000 bill if a PPO uses a discount on charge arrangement wherein the percentage paid to the provider is 70 percent and the patient's co-pay,as specified by the PPO,is 20 percent? (a)$600 (b)$700 (c)$420 (d)$200

The managed health care plan with higher costs,but a greater choice of health care providers is the ________.

What are some of your considerations in choosing a long-term care insurance policy?

Before you decide to take out an individual disability policy,you should consider all of the following except

Which of the following is an advantage of a PPO compared to an HMO?

Health insurance protects net worth by minimizing the chance that you will have to reduce savings or incur debt when you require medical attention.

In purchasing disability insurance,you should consider all of the following except the

What steps would you take to evaluate and choose health care insurance options?

Overview of a Financial Plan

Planning With Personal Financial Statements

Applying Time Value Concepts

Using Tax Concepts for Planning

Banking and Interest Rates

Managing Your Money

Assessing and Securing Your Credit

Managing Your Credit

Personal Loans

Purchasing and Financing a Home

Auto and Homeowners Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Asset Allocation

Retirement Planning

Estate Planning

Integrating the Components of a Financial Plan

Filters