Question 1

Disability income insurance provides benefits that are designed to:

Accepted Answer

A)  pay for hospital care costs from injuries. 
B)  substitute for lost income. 
C)  cover hospital care costs from illness. 
D)  substitute for social security disability benefits. 
E)  supplement retirement income for the elderly. 
A)  pay for hospital care costs from injuries. 
B)  substitute for lost income. 
C)  cover hospital care costs from illness. 
D)  substitute for social security disability benefits. 
E)  supplement retirement income for the elderly.

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.
-When purchasing a long-term care policy,the [guaranteed renewability | optional renewability] provision is recommended.

Accepted Answer

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

Question 3

You would have a better chance to choose your own doctor with a PPO rather than an HMO.

Accepted Answer

A) True 
 B)False

Question 4

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 difference between health maintenance organizations (HMOs)and individual practice associations (IPAs)is that [HMOs cost much less | IPAs do not provide services from a central location].

Accepted Answer

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

Question 5

Which of the following types of plans pays for some medical costs even when the insured decides to go out of the provider network (without a referral)for services?

Accepted Answer

A)  HMO 
B)  IPA 
C)  PPO 
D)  POS 
E)  All of the above 
A)  HMO 
B)  IPA 
C)  PPO 
D)  POS 
E)  All of the above

Question 6

Which of the following best describes a "pre-existing condition"?

Accepted Answer

A)  An exclusion 
B)  Cancer,heart condition,or other serious diseases 
C)  An injury that results from an accident 
D)  Something not covered by the insurance policy 
E)  A medical condition for which one has previously been treated 
A)  An exclusion 
B)  Cancer,heart condition,or other serious diseases 
C)  An injury that results from an accident 
D)  Something not covered by the insurance policy 
E)  A medical condition for which one has previously been treated

Question 7

Miscellaneous sources of health care coverage include:

Accepted Answer

A)  homeowners insurance. 
B)  automobile insurance. 
C)  veterans benefits. 
D)  all of the above 
E)  none of the above 
A)  homeowners insurance. 
B)  automobile insurance. 
C)  veterans benefits. 
D)  all of the above 
E)  none of the above

Question 8

Mental illness is normally not covered in health insurance policies.

Accepted Answer

A) True 
 B)False

Question 9

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.
-Dependent children [regardless of age | up to a stated maximum age] will usually be covered by your health insurance policy.

Accepted Answer

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

Question 10

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.
-Most commonly,the deductible in a health insurance policy is on [an annual | a per incident] basis.

Accepted Answer

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

Question 11

Most disabilities are permanent.

Accepted Answer

A) True 
 B)False

Question 12

A managed care plan is a healthcare plan that emphasizes cost control and preventative treatment.

Accepted Answer

A) True 
 B)False

Question 13

Group health insurance premiums are usually lower than individual health insurance premiums.

Accepted Answer

A) True 
 B)False

Question 14

Typically group health insurance plans provide substantially less comprehensive coverage than the average individually underwritten policy.

Accepted Answer

A) True 
 B)False

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.
-Disability income benefits are taxable when the policy premiums were paid by the [employer | employee].

Accepted Answer

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

Question 16

Disability occurs only when someone is completely incapable of returning to work.

Accepted Answer

A) True 
 B)False

Question 17

A comprehensive major medical insurance would not:

Accepted Answer

A)  have a large deductible. 
B)  include basic hospital coverage. 
C)  provide surgical expense coverage. 
D)  include medical expense coverage. 
E)  include a per diem while in the hospital. 
A)  have a large deductible. 
B)  include basic hospital coverage. 
C)  provide surgical expense coverage. 
D)  include medical expense coverage. 
E)  include a per diem while in the hospital.

Question 18

Who among the following is most likely to need and be able to obtain a long-term care policy?

Accepted Answer

A)  Mike is 35,in excellent health,single and makes $56,000 per year 
B)  Clare is 38,in poor health (cancer),married and makes $27,000 per year 
C)  Gail is 78,has been diagnosed with senile dementia,and is retired with a net worth of $500,000 
D)  Steve is 56,in good health,makes $75,000 per year and has a net worth of $750,000 
E)  Ava is 85,married,makes $73,000 per year and has a net worth of $4,000,000 
A)  Mike is 35,in excellent health,single and makes $56,000 per year 
B)  Clare is 38,in poor health (cancer),married and makes $27,000 per year 
C)  Gail is 78,has been diagnosed with senile dementia,and is retired with a net worth of $500,000 
D)  Steve is 56,in good health,makes $75,000 per year and has a net worth of $750,000 
E)  Ava is 85,married,makes $73,000 per year and has a net worth of $4,000,000

Question 19

Some surgical expense insurance pays a specific amount for a list of various types of surgery.

Accepted Answer

A) True 
 B)False

Question 20

If you are trying to keep your disability income premiums reasonably priced but still appropriate for insuring your financial needs,select a short elimination period and a short duration of benefits.

Accepted Answer

A) True 
 B)False

Disability income insurance provides benefits that are designed to:

You would have a better chance to choose your own doctor with a PPO rather than an HMO.

Which of the following types of plans pays for some medical costs even when the insured decides to go out of the provider network (without a referral)for services?

Which of the following best describes a "pre-existing condition"?

Miscellaneous sources of health care coverage include:

Mental illness is normally not covered in health insurance policies.

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. -Most commonly,the deductible in a health insurance policy is on [an annual | a per incident] basis.

Most disabilities are permanent.

A managed care plan is a healthcare plan that emphasizes cost control and preventative treatment.

Group health insurance premiums are usually lower than individual health insurance premiums.

Typically group health insurance plans provide substantially less comprehensive coverage than the average individually underwritten policy.

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. -Disability income benefits are taxable when the policy premiums were paid by the [employer | employee].

Disability occurs only when someone is completely incapable of returning to work.

A comprehensive major medical insurance would not:

Who among the following is most likely to need and be able to obtain a long-term care policy?

Some surgical expense insurance pays a specific amount for a list of various types of surgery.

If you are trying to keep your disability income premiums reasonably priced but still appropriate for insuring your financial needs,select a short elimination period and a short duration of benefits.

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

Disability income insurance provides benefits that are designed to:

You would have a better chance to choose your own doctor with a PPO rather than an HMO.

Which of the following types of plans pays for some medical costs even when the insured decides to go out of the provider network (without a referral)for services?

Which of the following best describes a "pre-existing condition"?

Miscellaneous sources of health care coverage include:

Mental illness is normally not covered in health insurance policies.

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. -Most commonly,the deductible in a health insurance policy is on [an annual | a per incident] basis.

Most disabilities are permanent.

A managed care plan is a healthcare plan that emphasizes cost control and preventative treatment.

Group health insurance premiums are usually lower than individual health insurance premiums.

Typically group health insurance plans provide substantially less comprehensive coverage than the average individually underwritten policy.

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. -Disability income benefits are taxable when the policy premiums were paid by the [employer | employee].

Disability occurs only when someone is completely incapable of returning to work.

A comprehensive major medical insurance would not:

Who among the following is most likely to need and be able to obtain a long-term care policy?

Some surgical expense insurance pays a specific amount for a list of various types of surgery.

If you are trying to keep your disability income premiums reasonably priced but still appropriate for insuring your financial needs,select a short elimination period and a short duration of benefits.

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