Question 1

The policy owner must pay the premium during the grace period or they forfeit the policy.

Accepted Answer

A) True 
 B)False

Question 2

Why is long-term care insurance needed?

Accepted Answer

A) It is not covered by major medical insurance. 
B) It is not covered under Medicare. 
C) Life expectancies have increased. 
D) All of the above 
E) None of the above 
A) It is not covered by major medical insurance. 
B) It is not covered under Medicare. 
C) Life expectancies have increased. 
D) All of the above 
E) None of the above

Question 3

Genevieve's husband died from lung cancer.As a result,she purchased additional ________ insurance.

Accepted Answer

A) accident 
B) dread disease 
C) dental 
D) eyewear 
E) all of the above 
A) accident 
B) dread disease 
C) dental 
D) eyewear 
E) all of the above

Question 4

When is convertible term life a good idea?

Accepted Answer

Convertible term life allows you to enjo

Question 5

Health insurance that provides payments to the insured in the event that the insured's income is interrupted by illness,sickness,or accident is called ________ insurance.

Accepted Answer

A) accident and sickness 
B) disability 
C) income interruption 
D) unemployment 
A) accident and sickness 
B) disability 
C) income interruption 
D) unemployment

Question 6

Brenda's husband Bob died last week.Her agent told her she could receive the death proceeds tax-free and a monthly check until her death.He is talking about the ________ settlement option.

Accepted Answer

A) lump-sum 
B) life annuity 
C) interest-only 
D) installment-payments 
E) tax-free 
A) lump-sum 
B) life annuity 
C) interest-only 
D) installment-payments 
E) tax-free

Question 7

Veronica was recently diagnosed with a heart condition.Her doctor's bill was $4,200 for the diagnostics.Her policy has a $250 deductible and a 80/20 coinsurance provision up to $10,000 and then the insurance pays 100% thereafter.In total,how much will Veronica pay for her diagnosis?

Accepted Answer

A) $250 
B) $4,200 
C) $1,040 
D) $10,000 
A) $250 
B) $4,200 
C) $1,040 
D) $10,000

Question 8

What does HMOs stands for?

Accepted Answer

A) Home monitoring organizations 
B) Health monitoring organizations 
C) Home maintenance operations 
D) Health maintenance organizations 
A) Home monitoring organizations 
B) Health monitoring organizations 
C) Home maintenance operations 
D) Health maintenance organizations

Question 9

Compare and contrast fee-for-service and managed health care plans.

Accepted Answer

Fee-for-service or traditional indemnity

Question 10

Andrew and Alice have health issues that may be passed on to their children.When the children are born would they be wise to obtain life insurance immediately on the infants prior to any of the medical conditions arising?

Accepted Answer

A) Yes,this would be wise as the infant is not likely to have to pass a physical exam. 
B) No,they should wait until the child is an adult and let him or her decide if she or he wants insurance. 
A) Yes,this would be wise as the infant is not likely to have to pass a physical exam. 
B) No,they should wait until the child is an adult and let him or her decide if she or he wants insurance.

Question 11

Term life insurance provides protection for a specified amount of time;typically 1-30 years.

Accepted Answer

A) True 
 B)False

Question 12

Billy's occupation is a potentially dangerous one - he is a skydiving instructor.His agent pointed out that the monthly premiums will be high.Billy wants a lot of value for his money.He could take advantage of ________ life insurance at this time to save money.

Accepted Answer

A) universal 
B) variable 
C) term 
D) credit 
E) whole 
A) universal 
B) variable 
C) term 
D) credit 
E) whole

Question 13

Which statement is false regarding benefit periods on long-term health care insurance?

Accepted Answer

A) Long-term health care coverage can range all the way from one year to a lifetime. 
B) The average stay in a nursing home is 2.44 years. 
C) The recommended minimum benefit period is six to nine years. 
D) Because women tend to spend longer periods of time in nursing care compared to men,women should consider a longer benefit period. 
A) Long-term health care coverage can range all the way from one year to a lifetime. 
B) The average stay in a nursing home is 2.44 years. 
C) The recommended minimum benefit period is six to nine years. 
D) Because women tend to spend longer periods of time in nursing care compared to men,women should consider a longer benefit period.

Question 14

The policy feature that allows you to pay the premium late but still retain coverage is known as the

Accepted Answer

A) loan clause. 
B) nonforfeiture clause. 
C) incontestability clause. 
D) grace period. 
E) policy reinstatement clause. 
A) loan clause. 
B) nonforfeiture clause. 
C) incontestability clause. 
D) grace period. 
E) policy reinstatement clause.

Question 15

Describe the major difference between renewable term and group term versus decreasing term and credit/mortgage group life insurance.

Accepted Answer

Renewable term and group term are genera

Question 16

If you can afford health insurance but don't have it,you may have to pay a fee or penalty.

Accepted Answer

A) True 
 B)False

Question 17

The beneficiary is the individual designated by the owner of the life insurance policy to receive the insurance policy's proceeds upon the death of the insured.

Accepted Answer

A) True 
 B)False

Question 18

What factors should be considered when selecting a life insurance policy?

Accepted Answer

Select an agent who will work for you;th

Question 19

How is variable life different from universal life and term insurance? Who is it best suited for?

Accepted Answer

Like universal life,it has a cash value

Question 20

Traditional,fee-for-service plans are becoming rarer due to rising health care costs.

Accepted Answer

A) True 
 B)False

The policy owner must pay the premium during the grace period or they forfeit the policy.

Why is long-term care insurance needed?

Genevieve's husband died from lung cancer.As a result,she purchased additional ________ insurance.

When is convertible term life a good idea?

Health insurance that provides payments to the insured in the event that the insured's income is interrupted by illness,sickness,or accident is called ________ insurance.

Brenda's husband Bob died last week.Her agent told her she could receive the death proceeds tax-free and a monthly check until her death.He is talking about the ________ settlement option.

Veronica was recently diagnosed with a heart condition.Her doctor's bill was $4,200 for the diagnostics.Her policy has a $250 deductible and a 80/20 coinsurance provision up to $10,000 and then the insurance pays 100% thereafter.In total,how much will Veronica pay for her diagnosis?

What does HMOs stands for?

Compare and contrast fee-for-service and managed health care plans.

Andrew and Alice have health issues that may be passed on to their children.When the children are born would they be wise to obtain life insurance immediately on the infants prior to any of the medical conditions arising?

Term life insurance provides protection for a specified amount of time;typically 1-30 years.

Billy's occupation is a potentially dangerous one - he is a skydiving instructor.His agent pointed out that the monthly premiums will be high.Billy wants a lot of value for his money.He could take advantage of ________ life insurance at this time to save money.

Which statement is false regarding benefit periods on long-term health care insurance?

The policy feature that allows you to pay the premium late but still retain coverage is known as the

Describe the major difference between renewable term and group term versus decreasing term and credit/mortgage group life insurance.

If you can afford health insurance but don't have it,you may have to pay a fee or penalty.

The beneficiary is the individual designated by the owner of the life insurance policy to receive the insurance policy's proceeds upon the death of the insured.

What factors should be considered when selecting a life insurance policy?

How is variable life different from universal life and term insurance? Who is it best suited for?

Traditional,fee-for-service plans are becoming rarer due to rising health care costs.

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: the Role of Open Credit

Student and Consumer Loans: the Role of Planned Borrowing

The Home and Automobile Decision

Property and Liability Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: an Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Financial Life Eventsfitting the Pieces Together

Filters

Exam 9: Life and Health Insurance

The policy owner must pay the premium during the grace period or they forfeit the policy.

Why is long-term care insurance needed?

Genevieve's husband died from lung cancer.As a result,she purchased additional ________ insurance.

When is convertible term life a good idea?

Health insurance that provides payments to the insured in the event that the insured's income is interrupted by illness,sickness,or accident is called ________ insurance.

Brenda's husband Bob died last week.Her agent told her she could receive the death proceeds tax-free and a monthly check until her death.He is talking about the ________ settlement option.

Veronica was recently diagnosed with a heart condition.Her doctor's bill was $4,200 for the diagnostics.Her policy has a $250 deductible and a 80/20 coinsurance provision up to $10,000 and then the insurance pays 100% thereafter.In total,how much will Veronica pay for her diagnosis?

What does HMOs stands for?

Compare and contrast fee-for-service and managed health care plans.

Andrew and Alice have health issues that may be passed on to their children.When the children are born would they be wise to obtain life insurance immediately on the infants prior to any of the medical conditions arising?

Term life insurance provides protection for a specified amount of time;typically 1-30 years.

Billy's occupation is a potentially dangerous one - he is a skydiving instructor.His agent pointed out that the monthly premiums will be high.Billy wants a lot of value for his money.He could take advantage of ________ life insurance at this time to save money.

Which statement is false regarding benefit periods on long-term health care insurance?

The policy feature that allows you to pay the premium late but still retain coverage is known as the

Describe the major difference between renewable term and group term versus decreasing term and credit/mortgage group life insurance.

If you can afford health insurance but don't have it,you may have to pay a fee or penalty.

The beneficiary is the individual designated by the owner of the life insurance policy to receive the insurance policy's proceeds upon the death of the insured.

What factors should be considered when selecting a life insurance policy?

How is variable life different from universal life and term insurance? Who is it best suited for?

Traditional,fee-for-service plans are becoming rarer due to rising health care costs.

The Financial Planning Process

Measuring Your Financial Health and Making a Plan

Understanding and Appreciating the Time Value of Money

Tax Planning and Strategies

Cash or Liquid Asset Management

Using Credit Cards: the Role of Open Credit

Student and Consumer Loans: the Role of Planned Borrowing

The Home and Automobile Decision

Property and Liability Insurance

Investment Basics

Investing in Stocks

Investing in Bonds and Other Alternatives

Mutual Funds: an Easy Way to Diversify

Retirement Planning

Estate Planning: Saving Your Heirs Money and Headaches

Financial Life Eventsfitting the Pieces Together

Filters