Question 1

Private health insurance plans contain hospital insurance,physician insurance,and surgical insurance.

Accepted Answer

A) True 
 B)False

Question 2

One of the problems with changing jobs is that you will immediately lose your health insurance and may not be able to get new insurance right away.

Accepted Answer

A) True 
 B)False

Question 3

Indemnity health care plans have

Accepted Answer

A) more flexibility and choices than managed care plans. 
B) lower costs than managed care plans. 
C) fewer health care professionals to choose from compared to HMOs. 
D) less bill-related paperwork than other plans. 
A) more flexibility and choices than managed care plans. 
B) lower costs than managed care plans. 
C) fewer health care professionals to choose from compared to HMOs. 
D) less bill-related paperwork than other plans.

Question 4

Social Security is the easiest disability coverage to qualify for benefits.

Accepted Answer

A) True 
 B)False

Question 5

________ is the government program that provides health insurance to individuals who are 65 years of age or older.

Accepted Answer

A) Medicaid 
B) Medicare 
C) HMO 
D) Blue Cross and Blue Shield 
A) Medicaid 
B) Medicare 
C) HMO 
D) Blue Cross and Blue Shield

Question 6

How much of a $2,000 medical bill would you pay if your policy contains a $400 deductible and a 10 percent coinsurance clause?
(a)$200
(b)$400
(c)$160
(d)$560

Accepted Answer

The answer of How much of a $2,000 medical bill...

Question 7

Regarding the definition of disability,

Accepted Answer

A) it is the same for all disability policies. 
B) it varies from one disability policy to another. 
C) the same definition is used by the insurance industry and Social Security. 
D) the meaning can change over the life of your disability policy. 
A) it is the same for all disability policies. 
B) it varies from one disability policy to another. 
C) the same definition is used by the insurance industry and Social Security. 
D) the meaning can change over the life of your disability policy.

Question 8

Which of the following is not a true statement?

Accepted Answer

A) More than half of all individuals in the United States will need long-term care in some period during their life. 
B) Medicare covers most of the expenses associated with long-term care. 
C) The cost of an aide providing basic care at home can exceed $1,000 per week. 
D) For individuals who enter a nursing home,the cost is about $46,000 per year on average. 
A) More than half of all individuals in the United States will need long-term care in some period during their life. 
B) Medicare covers most of the expenses associated with long-term care. 
C) The cost of an aide providing basic care at home can exceed $1,000 per week. 
D) For individuals who enter a nursing home,the cost is about $46,000 per year on average.

Question 9

Which of the following is usually not offered as part of a benefits package to employees?

Accepted Answer

A) Auto insurance 
B) Health insurance 
C) Retirement benefits 
D) Disability insurance 
A) Auto insurance 
B) Health insurance 
C) Retirement benefits 
D) Disability insurance

Question 10

Which of the following is not true regarding employer disability insurance?

Accepted Answer

A) Disability benefits are provided for very long periods,usually up to 30 years. 
B) About half of all large and medium-sized firms offer an optional disability plan through an insurance company. 
C) The premiums charged through group plans are normally low. 
D) A typical disability policy covers about 60 percent of the employee's salary. 
A) Disability benefits are provided for very long periods,usually up to 30 years. 
B) About half of all large and medium-sized firms offer an optional disability plan through an insurance company. 
C) The premiums charged through group plans are normally low. 
D) A typical disability policy covers about 60 percent of the employee's salary.

Question 11

Comparing auto insurance and health insurance,

Accepted Answer

A) you have fewer options with health insurance than with auto insurance. 
B) both types of policies have deductibles. 
C) the government has very little involvement in either of these areas. 
D) All of the above 
A) you have fewer options with health insurance than with auto insurance. 
B) both types of policies have deductibles. 
C) the government has very little involvement in either of these areas. 
D) All of the above

Question 12

One of the newest types of health care insurance is ________ insurance,which provides coverage to those in a nursing home,assisted living facility,or at home.

Accepted Answer

The answer of One of the newest types of health...

Question 13

________ insurance is provided by private insurance companies to cover medical expenses that are not covered by Medicare.

Accepted Answer

The answer of ________ insurance is provided by private insurance...

Question 14

All of the following will lower the premium of long-term care insurance except

Accepted Answer

A) having a longer waiting period before the policy goes into effect. 
B) having a higher stop-loss provision. 
C) waiting until you are retired to obtain the insurance. 
D) choosing to receive benefits for a limited period. 
A) having a longer waiting period before the policy goes into effect. 
B) having a higher stop-loss provision. 
C) waiting until you are retired to obtain the insurance. 
D) choosing to receive benefits for a limited period.

Question 15

Medicare is a government health insurance program for those over 65 years of age who can show need for financial assistance.

Accepted Answer

A) True 
 B)False

Question 16

If a person is diabetic and is applying for a new health care insurance policy,s/he might be most concerned with which of the following?

Accepted Answer

A) Cancellation options 
B) Stop loss provision 
C) Preexisting conditions 
D) Deductible 
A) Cancellation options 
B) Stop loss provision 
C) Preexisting conditions 
D) Deductible

Question 17

What would be the out-of-pocket cost to an individual whose health care policy includes a 20 percent co-pay for all long-term illnesses.The policy has a stop loss provision of $40,000.A current long-term illness has resulted in total expenses of $250,000.
(a)$8,000
(b)$40,000
(c)$50,000
(d)$210,000

Accepted Answer

(b)$250,000 × 0.2 =

Question 18

Based on the following information,how much disability insurance coverage per month would be required:
∙ Mortgage payment -$1,600/month
∙ Household insurance -$100/month
∙ Car insurance -$200/month
∙ Gas and oil -$90/month ($30 commuting to and from work)
∙ Food -$200/month ($70 represents lunch at work which would be reduced by half if the meals were prepared at home)
Employer disability insurance would provide $500/month and it is doubtful that anything would be received from either Social Security or worker's compensation.
(a)$1,525
(b)$2,190
(c)$1,495
(d)$1,625

Accepted Answer

The answer of Based on the following information,how much disability...

Question 19

Compared to indemnity plans,what is an advantage of managed health care plans?

Accepted Answer

A) You will have lower insurance premiums. 
B) There are no out-of-pocket expenses required. 
C) You have greater choices of health care providers. 
D) They are very efficient in their handling of paperwork. 
A) You will have lower insurance premiums. 
B) There are no out-of-pocket expenses required. 
C) You have greater choices of health care providers. 
D) They are very efficient in their handling of paperwork.

Question 20

You must have Parts A and B of Medicare in order to qualify for Part D.

Accepted Answer

A) True 
 B)False

Private health insurance plans contain hospital insurance,physician insurance,and surgical insurance.

One of the problems with changing jobs is that you will immediately lose your health insurance and may not be able to get new insurance right away.

Indemnity health care plans have

Social Security is the easiest disability coverage to qualify for benefits.

________ is the government program that provides health insurance to individuals who are 65 years of age or older.

How much of a $2,000 medical bill would you pay if your policy contains a $400 deductible and a 10 percent coinsurance clause? (a)$200 (b)$400 (c)$160 (d)$560

Regarding the definition of disability,

Which of the following is not a true statement?

Which of the following is usually not offered as part of a benefits package to employees?

Which of the following is not true regarding employer disability insurance?

Comparing auto insurance and health insurance,

One of the newest types of health care insurance is ________ insurance,which provides coverage to those in a nursing home,assisted living facility,or at home.

________ insurance is provided by private insurance companies to cover medical expenses that are not covered by Medicare.

All of the following will lower the premium of long-term care insurance except

Medicare is a government health insurance program for those over 65 years of age who can show need for financial assistance.

If a person is diabetic and is applying for a new health care insurance policy,s/he might be most concerned with which of the following?

What would be the out-of-pocket cost to an individual whose health care policy includes a 20 percent co-pay for all long-term illnesses.The policy has a stop loss provision of $40,000.A current long-term illness has resulted in total expenses of $250,000. (a)$8,000 (b)$40,000 (c)$50,000 (d)$210,000

Compared to indemnity plans,what is an advantage of managed health care plans?

You must have Parts A and B of Medicare in order to qualify for Part D.

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

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Exam 12: Health and Disability Insurance

Private health insurance plans contain hospital insurance,physician insurance,and surgical insurance.

One of the problems with changing jobs is that you will immediately lose your health insurance and may not be able to get new insurance right away.

Indemnity health care plans have

Social Security is the easiest disability coverage to qualify for benefits.

________ is the government program that provides health insurance to individuals who are 65 years of age or older.

How much of a $2,000 medical bill would you pay if your policy contains a $400 deductible and a 10 percent coinsurance clause? (a)$200 (b)$400 (c)$160 (d)$560

Regarding the definition of disability,

Which of the following is not a true statement?

Which of the following is usually not offered as part of a benefits package to employees?

Which of the following is not true regarding employer disability insurance?

Comparing auto insurance and health insurance,

One of the newest types of health care insurance is ________ insurance,which provides coverage to those in a nursing home,assisted living facility,or at home.

________ insurance is provided by private insurance companies to cover medical expenses that are not covered by Medicare.

All of the following will lower the premium of long-term care insurance except

Medicare is a government health insurance program for those over 65 years of age who can show need for financial assistance.

If a person is diabetic and is applying for a new health care insurance policy,s/he might be most concerned with which of the following?

What would be the out-of-pocket cost to an individual whose health care policy includes a 20 percent co-pay for all long-term illnesses.The policy has a stop loss provision of $40,000.A current long-term illness has resulted in total expenses of $250,000. (a)$8,000 (b)$40,000 (c)$50,000 (d)$210,000

Compared to indemnity plans,what is an advantage of managed health care plans?

You must have Parts A and B of Medicare in order to qualify for Part D.

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