Question 1

Payments under social security disability benefits are available to those who are unable to work for atleast a year.

Accepted Answer

A) True 
 B)False

Question 2

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.
-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

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

Question 3

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 4

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 5

All of the following except a _____ are highly recommended for a long-term disability income policy.

Accepted Answer

A)  guaranteed renewable clause 
B)  cost-of-living adjustment 
C)  long duration of benefit 
D)  short waiting period 
E)  waiver of premium 
A)  guaranteed renewable clause 
B)  cost-of-living adjustment 
C)  long duration of benefit 
D)  short waiting period 
E)  waiver of premium

Question 6

A preferred provider organization has characteristics of both Individual practice association (IPA)and an indemnity plan.

Accepted Answer

A) True 
 B)False

Question 7

Surgical expenses now generally are reimbursed on the basis of:

Accepted Answer

A)  actual surgical expense. 
B)  listed benefit schedules. 
C)  specific percentage of actual surgical expense. 
D)  average national cost of the surgery. 
E)  usual,reasonable and customary expenses. 
A)  actual surgical expense. 
B)  listed benefit schedules. 
C)  specific percentage of actual surgical expense. 
D)  average national cost of the surgery. 
E)  usual,reasonable and customary expenses.

Question 8

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.
-[Medicare | Workers' compensation] pays for medical expenses that are the result of on-the-job injuries and illnesses.

Accepted Answer

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

Question 9

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 10

Medicare Advantage policies require payment from the policyholder in the form of a deductible.

Accepted Answer

A) True 
 B)False

Question 11

An elimination period in disability income insurance is most closely analogous to which of the following cost sharing provisions in health insurance?

Accepted Answer

A)  Deductible 
B)  Co-insurance 
C)  Limit 
D)  Cap 
E)  All of the above closely resemble an elimination period 
A)  Deductible 
B)  Co-insurance 
C)  Limit 
D)  Cap 
E)  All of the above closely resemble an elimination period

Question 12

An elimination period is a term that applies to disability insurance and does not have any meaning in long-term care insurance.

Accepted Answer

A) True 
 B)False

Question 13

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.
-Loss prevention tactics can be [only marginally | very] successful in reducing accidents and illnesses.

Accepted Answer

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

Question 14

Nick and Sheila Preston are married and have purchased a comprehensive major medical policy which covers them and their two sons,Wally and Brent.The policy has a $500 calendar year family deductible,a $2,500 stop-loss provision,and an 80% co-insurance clause.The following losses occur: On January 1,2013,Sheila was treated for an infection at a cost of $200,on July 1,2013,Wally was treated for an injury suffered while waterskiing at a cost of $10,000,on December 5,2013,Nick underwent eye surgery at a cost of $1,500,and on January 5,2014,Brent was treated for a broken leg at a cost of $2,000.
How much will the insurer pay for each of these losses?

Accepted Answer

January 1,2013,loss: ($200 - $200 of ded

Question 15

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.
-Medicare and Medicaid cover [more | less] than half of the total cost of long-term care.

Accepted Answer

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

Question 16

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.
-About [one in two | one in seven] people between the ages of 35 and 65 will become disabled for five years or more.

Accepted Answer

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

Question 17

Blue Cross provides hospital coverage and Blue Shield provides prescription pharmacy coverage.

Accepted Answer

A) True 
 B)False

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.
-The ["own occupation" | "any occupation"] definition of disability is more restrictive.

Accepted Answer

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

Question 19

A group HMO employs a group of doctors to provide healthcare services to members in a central facility.

Accepted Answer

A) True 
 B)False

Question 20

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

Payments under social security disability benefits are available to those who are unable to work for atleast a year.

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.

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

All of the following except a _____ are highly recommended for a long-term disability income policy.

A preferred provider organization has characteristics of both Individual practice association (IPA)and an indemnity plan.

Surgical expenses now generally are reimbursed on the basis of:

A characteristic of dental insurance is:

Medicare Advantage policies require payment from the policyholder in the form of a deductible.

An elimination period in disability income insurance is most closely analogous to which of the following cost sharing provisions in health insurance?

An elimination period is a term that applies to disability insurance and does not have any meaning in long-term care insurance.

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. -Loss prevention tactics can be [only marginally | very] successful in reducing accidents and illnesses.

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. -Medicare and Medicaid cover [more | less] than half of the total cost of long-term care.

Blue Cross provides hospital coverage and Blue Shield provides prescription pharmacy coverage.

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 ["own occupation" | "any occupation"] definition of disability is more restrictive.

A group HMO employs a group of doctors to provide healthcare services to members in a central facility.

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

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

Payments under social security disability benefits are available to those who are unable to work for atleast a year.

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.

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

All of the following except a _____ are highly recommended for a long-term disability income policy.

A preferred provider organization has characteristics of both Individual practice association (IPA)and an indemnity plan.

Surgical expenses now generally are reimbursed on the basis of:

A characteristic of dental insurance is:

Medicare Advantage policies require payment from the policyholder in the form of a deductible.

An elimination period in disability income insurance is most closely analogous to which of the following cost sharing provisions in health insurance?

An elimination period is a term that applies to disability insurance and does not have any meaning in long-term care insurance.

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. -Loss prevention tactics can be [only marginally | very] successful in reducing accidents and illnesses.

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. -Medicare and Medicaid cover [more | less] than half of the total cost of long-term care.

Blue Cross provides hospital coverage and Blue Shield provides prescription pharmacy coverage.

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 ["own occupation" | "any occupation"] definition of disability is more restrictive.

A group HMO employs a group of doctors to provide healthcare services to members in a central facility.

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

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