Question 1

Most group insurance policies require a second opinion for non-surgical procedures.

Accepted Answer

A) True 
 B)False  False

Question 2

Medicare Advantage policies require payment from the policyholder in the form of a(n):

Accepted Answer

A)  deductible. 
B)  co-insurance. 
C)  co-payment. 
D)  excess charge. 
E)  a and b 
A)  deductible. 
B)  co-insurance. 
C)  co-payment. 
D)  excess charge. 
E)  a and b C

Question 3

Which of the following best describes a custodial care facility?

Accepted Answer

A)  A place that provides assistance in the normal activities of daily living,but no medical attention or supervision 
B)  A place that provides regular assistance with such activities as transferring someone from a bed to a chair,or helping them take a bath or get dressed 
C)  A place with licensed medical professionals that assist residents regularly with medically necessary care 
D)  A place that provides regular assistance with chronic health conditions that are acute in nature 
E)  Custodial care is best provided in a hospital where surgical facilities are always available 
A)  A place that provides assistance in the normal activities of daily living,but no medical attention or supervision 
B)  A place that provides regular assistance with such activities as transferring someone from a bed to a chair,or helping them take a bath or get dressed 
C)  A place with licensed medical professionals that assist residents regularly with medically necessary care 
D)  A place that provides regular assistance with chronic health conditions that are acute in nature 
E)  Custodial care is best provided in a hospital where surgical facilities are always available A

Question 4

The medicare co-insurance payment is usually 20%.

Accepted Answer

A) True 
 B)False

Question 5

Bob and Barbara Castle are each 39 years old and have sought your advice with regard to their financial affairs.Bob is a school administrator making $75,000 per year and Barbara is not employed outside of the home.The Castles' net worth is approximately $190,000.They have three kids ages,6,10,& 14.You have determined that the Castles currently have adequate life,health,auto,and homeowner's insurance.Which of the following forms of insurance is likely to fulfill their highest priority risk management need?

Accepted Answer

A)  Supplemental major medical insurance 
B)  Disability income insurance 
C)  Critical illness insurance 
D)  Long-term care insurance 
E)  Additional life insurance 
A)  Supplemental major medical insurance 
B)  Disability income insurance 
C)  Critical illness insurance 
D)  Long-term care insurance 
E)  Additional life insurance

Question 6

The major emphasis of dental insurance is to cover only extractions and x-rays.

Accepted Answer

A) True 
 B)False

Question 7

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement.
-One complaint about HMOs in the past,as compared to traditional indemnity plans,is that [| the care was not available for major illnesses | members couldn't always choose their physicians].

Accepted Answer

The answer of Choose the word or phrase in [...

Question 8

In insurance terminology,"participation" and "co-insurance" mean the same thing.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following benefits is allowed by the "coordination of benefits" provision in a health insurance policy?

Accepted Answer

A)  Allows the policy holder to be double-covered for the same loss 
B)  Provides broader coverage than a policy without such provision 
C)  Often results in lower cost insurance premiums 
D)  Drops pre-existing conditions clauses from a policy 
E)  All of the above 
A)  Allows the policy holder to be double-covered for the same loss 
B)  Provides broader coverage than a policy without such provision 
C)  Often results in lower cost insurance premiums 
D)  Drops pre-existing conditions clauses from a policy 
E)  All of the above

Question 10

Long-term care insurance can cover both nursing home and home health care.

Accepted Answer

A) True 
 B)False

Question 11

Given a $250 annual deductible,a $5,000 cap on the co-insurance,80/20 co-insurance,and a $250,000 policy limit,how much of a $27,500 medical bill will be paid by the insured?

Accepted Answer

A)  $ 250 
B)  $5,000 
C)  $5,450 
D)  $5,250 
E)  $5,700 
A)  $ 250 
B)  $5,000 
C)  $5,450 
D)  $5,250 
E)  $5,700

Question 12

Supplementary Medical Insurance (SMI)provides health care protection beyond basic hospital coverage for:

Accepted Answer

A)  all Medicare recipients. 
B)  all social security recipients. 
C)  all workers' compensation insurance recipients. 
D)  Medicaid recipients who pay for SMI on a voluntary basis. 
E)  Medicare recipients who pay for SMI on a voluntary basis. 
A)  all Medicare recipients. 
B)  all social security recipients. 
C)  all workers' compensation insurance recipients. 
D)  Medicaid recipients who pay for SMI on a voluntary basis. 
E)  Medicare recipients who pay for SMI on a voluntary basis.

Question 13

When you are hospitalized for surgical care,surgical expense insurance will pay the hospital bill.

Accepted Answer

A) True 
 B)False

Question 14

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 15

Large employers are less likely to offer health insurance to their employees than small employers.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is the characteristic of Social Security disability income benefits?

Accepted Answer

A)  1-year waiting period 
B)  "Own occ" definition of disability 
C)  Disability expected to last 1 year,or be fatal 
D)  a and b 
E)  a,b,and c 
A)  1-year waiting period 
B)  "Own occ" definition of disability 
C)  Disability expected to last 1 year,or be fatal 
D)  a and b 
E)  a,b,and c

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

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement.
-Hospital insurance would pay the costs for room and board and [the use of an operating room | the fee charged by the surgeon].

Accepted Answer

The answer of Choose the word or phrase in [...

Question 19

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement.
-If an employee could afford additional health insurance coverage in addition to group coverage,most should purchase [dental | disability income] insurance.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 20

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement.
-The average age of the American population is [decreasing | increasing].

Accepted Answer

The answer of Choose the word or phrase in [...

Most group insurance policies require a second opinion for non-surgical procedures.

Medicare Advantage policies require payment from the policyholder in the form of a(n):

Which of the following best describes a custodial care facility?

The medicare co-insurance payment is usually 20%.

The major emphasis of dental insurance is to cover only extractions and x-rays.

In insurance terminology,"participation" and "co-insurance" mean the same thing.

Which of the following benefits is allowed by the "coordination of benefits" provision in a health insurance policy?

Long-term care insurance can cover both nursing home and home health care.

Given a $250 annual deductible,a $5,000 cap on the co-insurance,80/20 co-insurance,and a $250,000 policy limit,how much of a $27,500 medical bill will be paid by the insured?

Supplementary Medical Insurance (SMI)provides health care protection beyond basic hospital coverage for:

When you are hospitalized for surgical care,surgical expense insurance will pay the hospital bill.

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

Large employers are less likely to offer health insurance to their employees than small employers.

Which of the following is the characteristic of Social Security disability income benefits?

The fastest growing segment of the health care industry is:

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement. -The average age of the American population is [decreasing | increasing].

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

Most group insurance policies require a second opinion for non-surgical procedures.

Medicare Advantage policies require payment from the policyholder in the form of a(n):

Which of the following best describes a custodial care facility?

The medicare co-insurance payment is usually 20%.

The major emphasis of dental insurance is to cover only extractions and x-rays.

In insurance terminology,"participation" and "co-insurance" mean the same thing.

Which of the following benefits is allowed by the "coordination of benefits" provision in a health insurance policy?

Long-term care insurance can cover both nursing home and home health care.

Given a $250 annual deductible,a $5,000 cap on the co-insurance,80/20 co-insurance,and a $250,000 policy limit,how much of a $27,500 medical bill will be paid by the insured?

Supplementary Medical Insurance (SMI)provides health care protection beyond basic hospital coverage for:

When you are hospitalized for surgical care,surgical expense insurance will pay the hospital bill.

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

Large employers are less likely to offer health insurance to their employees than small employers.

Which of the following is the characteristic of Social Security disability income benefits?

The fastest growing segment of the health care industry is:

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement. -The average age of the American population is [decreasing | increasing].

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