Question 1

Major medical plans will usually cover the cost of nursing home care.

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.
-During the past few decades,the percent of our income that we as a nation spend on health care has [increased | decreased].

Accepted Answer

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

Question 3

Hospitalization insurance policy would make payment for:

Accepted Answer

A)  a surgery. 
B)  the care at the doctor's office. 
C)  the private duty nursing care. 
D)  the prescriptions when not in hospital. 
E)  the cost of one's hospital stay. 
A)  a surgery. 
B)  the care at the doctor's office. 
C)  the private duty nursing care. 
D)  the prescriptions when not in hospital. 
E)  the cost of one's hospital stay.

Question 4

Which of the following is not a desirable feature in a long-term care policy?

Accepted Answer

A)  Inflation protection 
B)  Optional renewability clause 
C)  Duration of benefits of 6 years 
D)  Coverage for Alzheimer's disease 
E)  Coverage for preexisting conditions 
A)  Inflation protection 
B)  Optional renewability clause 
C)  Duration of benefits of 6 years 
D)  Coverage for Alzheimer's disease 
E)  Coverage for preexisting conditions

Question 5

A comprehensive major medical insurance covers the cost of anesthetics and their administration.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following changes would tend to increase the premium on a disability policy?

Accepted Answer

A)  A shorter elimination period 
B)  Use of "any occupation" definition of disability instead of "own occupation to which one is reasonably suited" 
C)  Decreasing the benefit level to 50% from 66% of prior earnings 
D)  Decreasing the payment period from until age 65 to a maximum of 2 years 
E)  None of the above would tend to increase the premium 
A)  A shorter elimination period 
B)  Use of "any occupation" definition of disability instead of "own occupation to which one is reasonably suited" 
C)  Decreasing the benefit level to 50% from 66% of prior earnings 
D)  Decreasing the payment period from until age 65 to a maximum of 2 years 
E)  None of the above would tend to increase the premium

Question 7

Terms of payment and terms of coverage are two sets of provisions that should be carefully scrutinized when evaluating an insurance program.

Accepted Answer

A) True 
 B)False

Question 8

The definition of "disability" is standardized in disability income policies.

Accepted Answer

A) True 
 B)False

Question 9

Starting in 2014,the Affordable Health Care Act requires insurance companies to set premiums based on all the following except:

Accepted Answer

A)  family size. 
B)  where you live. 
C)  tobacco use. 
D)  gender. 
E)  age. 
A)  family size. 
B)  where you live. 
C)  tobacco use. 
D)  gender. 
E)  age.

Question 10

Workers' compensation is a state program that provides benefits for:

Accepted Answer

A)  unemployed workers. 
B)  workers suffering injury or illness on the job. 
C)  any injury suffered by a worker at any time. 
D)  injuries resulting from employer's negligence. 
E)  only b and d 
A)  unemployed workers. 
B)  workers suffering injury or illness on the job. 
C)  any injury suffered by a worker at any time. 
D)  injuries resulting from employer's negligence. 
E)  only b and d

Question 11

Eating healthy and exercising is an acceptable substitute for comprehensive health care coverage.

Accepted Answer

A) True 
 B)False

Question 12

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 13

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part B covers:

Accepted Answer

A)  hospital expenses. 
B)  doctor's bills. 
C)  custodial nursing home expenses. 
D)  prescription drugs. 
E)  all of the above 
A)  hospital expenses. 
B)  doctor's bills. 
C)  custodial nursing home expenses. 
D)  prescription drugs. 
E)  all of the above

Question 14

Your right to continue a health insurance policy if you choose is known as:

Accepted Answer

A)  policy exclusions. 
B)  co-insurance. 
C)  co-payment. 
D)  duration of benefits. 
E)  renewability. 
A)  policy exclusions. 
B)  co-insurance. 
C)  co-payment. 
D)  duration of benefits. 
E)  renewability.

Question 15

____ are required by many insurance plans to reduce the number of unnecessary surgeries.

Accepted Answer

A)  Deductibles 
B)  Waiting periods before the surgery is performed 
C)  Second opinions 
D)  Meetings with company surgical committees 
E)  Approval by hospital surgical committees 
A)  Deductibles 
B)  Waiting periods before the surgery is performed 
C)  Second opinions 
D)  Meetings with company surgical committees 
E)  Approval by hospital surgical committees

Question 16

Health insurance coverage can include:

Accepted Answer

A)  group plans. 
B)  workers' compensation. 
C)  social security. 
D)  veteran's benefits. 
E)  all of the above 
A)  group plans. 
B)  workers' compensation. 
C)  social security. 
D)  veteran's benefits. 
E)  all of the above

Question 17

Suppose Janet,a skilled neuro-surgeon,became unable to perform surgery because of severe arthritis.Which of the following is not true?

Accepted Answer

A)  If Janet has a disability policy with an "own occupation" definition of disability,she will probably collect some benefits. 
B)  If the policy contains an "own occupation" definition of disability,the insurer will provide coverage only if Janet would not be able to perform another type of job such as teaching or consulting. 
C)  If the policy contains an "any occupation for which reasonable suited" definition of disability,the insurer will attempt to determine if there is another job for which Janet is suited and is still able to perform. 
D)  A policy with an "own occupation" definition is generally more expensive than a policy with an "any occupation for which reasonable suited" definition of disability. 
E)  If Janet has a policy with residual benefit option,she will get a portion of the benefits if she works for a lower salary. 
A)  If Janet has a disability policy with an "own occupation" definition of disability,she will probably collect some benefits. 
B)  If the policy contains an "own occupation" definition of disability,the insurer will provide coverage only if Janet would not be able to perform another type of job such as teaching or consulting. 
C)  If the policy contains an "any occupation for which reasonable suited" definition of disability,the insurer will attempt to determine if there is another job for which Janet is suited and is still able to perform. 
D)  A policy with an "own occupation" definition is generally more expensive than a policy with an "any occupation for which reasonable suited" definition of disability. 
E)  If Janet has a policy with residual benefit option,she will get a portion of the benefits if she works for a lower salary.

Question 18

Medicare and Medicaid are hospital and physicians coverage,respectively.

Accepted Answer

A) True 
 B)False

Question 19

Disability income benefits under social security will be paid as long as you cannot perform the duties of the job you were holding when the disability began.

Accepted Answer

A) True 
 B)False

Question 20

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

Major medical plans will usually cover the cost of nursing home care.

Hospitalization insurance policy would make payment for:

Which of the following is not a desirable feature in a long-term care policy?

A comprehensive major medical insurance covers the cost of anesthetics and their administration.

Which of the following changes would tend to increase the premium on a disability policy?

Terms of payment and terms of coverage are two sets of provisions that should be carefully scrutinized when evaluating an insurance program.

The definition of "disability" is standardized in disability income policies.

Starting in 2014,the Affordable Health Care Act requires insurance companies to set premiums based on all the following except:

Workers' compensation is a state program that provides benefits for:

Eating healthy and exercising is an acceptable substitute for comprehensive health care coverage.

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

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part B covers:

Your right to continue a health insurance policy if you choose is known as:

____ are required by many insurance plans to reduce the number of unnecessary surgeries.

Health insurance coverage can include:

Suppose Janet,a skilled neuro-surgeon,became unable to perform surgery because of severe arthritis.Which of the following is not true?

Medicare and Medicaid are hospital and physicians coverage,respectively.

Disability income benefits under social security will be paid as long as you cannot perform the duties of the job you were holding when the disability began.

One drawback of long-term care insurance is its:

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

Major medical plans will usually cover the cost of nursing home care.

Hospitalization insurance policy would make payment for:

Which of the following is not a desirable feature in a long-term care policy?

A comprehensive major medical insurance covers the cost of anesthetics and their administration.

Which of the following changes would tend to increase the premium on a disability policy?

Terms of payment and terms of coverage are two sets of provisions that should be carefully scrutinized when evaluating an insurance program.

The definition of "disability" is standardized in disability income policies.

Starting in 2014,the Affordable Health Care Act requires insurance companies to set premiums based on all the following except:

Workers' compensation is a state program that provides benefits for:

Eating healthy and exercising is an acceptable substitute for comprehensive health care coverage.

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

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part B covers:

Your right to continue a health insurance policy if you choose is known as:

____ are required by many insurance plans to reduce the number of unnecessary surgeries.

Health insurance coverage can include:

Suppose Janet,a skilled neuro-surgeon,became unable to perform surgery because of severe arthritis.Which of the following is not true?

Medicare and Medicaid are hospital and physicians coverage,respectively.

Disability income benefits under social security will be paid as long as you cannot perform the duties of the job you were holding when the disability began.

One drawback of long-term care insurance is its:

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