Question 1

Which of the following statements about disability benefits under Social Security is true?

Accepted Answer

A)   There is a one-year waiting period before benefits are payable.
B)   Benefits are payable as long as the disabled worker is unable to perform his or her regular occupation.
C)   Benefits are payable only if the condition causing the disability is expected to result in death prior to age 65.
D)   In addition to the disabled worker receiving the benefits, benefits can also be paid to eligible dependents. D

Question 2

Objectives of unemployment insurance include which of the following?
I.To help unemployed workers find jobs.
II.To encourage employers to stabilize employment.

Accepted Answer

A)   I only
B)   II only
C)   both I and II
D)   neither I nor II C

Question 3

In order to receive unemployment insurance benefits, an unemployed worker must meet all of the following eligibility requirements EXCEPT

Accepted Answer

A)   have qualifying wages and employment.
B)   be able to work.
C)   be actively seeking work.
D)   satisfy a 6-month waiting period. D

Question 4

Which of the following statements about problems and issues in workers compensation insurance is (are) true?
I.Uncertainties created by the increasing use of medical marijuana is a growing problem for employers.
II.Enactment of the Affordable Care Act led many employers to stop offering medical benefits as part of the workers compensation coverage on their employees.

Accepted Answer

A)   I only
B)   II only
C)   both I and II
D)   neither I nor II

Question 5

As an alternative to the Original Medicare Plan, beneficiaries can elect to enroll in private health insurance plans that cover all services that the Original Medicare Plan covers except hospice care. These private health insurance plans that are an alternative to the Original Medicare Plan are called

Accepted Answer

A)   Medigap Insurance Programs.
B)   PACE Programs.
C)   Medicare Advantage Plans.
D)   Medicare Prescription Drug Plans.

Question 6

Under the Medicare Prescription Drug Program, a coverage gap (also called a "donut hole") exists after the beneficiary and drug plan pay a certain amount for covered drugs. The coverage gap refers to

Accepted Answer

A)   the large, up-front deductible that must be satisfied if the patient has a prescription for a covered brand-name drug.
B)   the temporary gap in coverage that begins when the beneficiary and drug plan pay a certain amount for covered drugs during the year and ends when the catastrophic limit is reached and coverage resumes.
C)   the temporary gap in coverage that begins after beneficiaries reach the lifetime limit on catastrophic drug expenses and ends when a new deductible is met and coverage resumes.
D)   the temporary gap in coverage that begins when prescription benefits terminate for beneficiaries who attain age 68 and resumes when beneficiaries attain age 72.

Question 7

Which of the following statements about the financial status of Medicare Part A is (are) true?
I.Part A has serious financial problems.
II. Reforms instituted by Congress have reduced total Part A expenditures in recent years.

Accepted Answer

A)   I only
B)   II only
C)   both I and II
D)   neither I nor II

Question 8

Which of the following is a reason that social insurance programs exist?

Accepted Answer

A)   to compete with private insurance programs
B)   to provide a base of economic security
C)   to provide needs-tested benefits to low-income individuals
D)   to reduce involvement of the government in insurance markets

Question 9

Under Part A of Medicare, how is reimbursement for inpatient hospital care determined?

Accepted Answer

A)   The amount billed to Medicare by the hospital is the amount Medicare pays.
B)   Eighty percent of the hospital's regular charge for care is paid.
C)   The hospital's usual, reasonable, and customary charge is paid.
D)   Hospital care is classified into diagnosis-related groups (DRGs)  and the amount reimbursed depends on the DRG classification of the care delivered.

Question 10

Which of the following statements about the impact of the implementation of the Affordable Care Act (ACA) on workers compensation is true?

Accepted Answer

A)   Implementation of the ACA will increase fraudulent workers compensation claims.
B)   Implementation of the ACA will create higher healthcare provider prices.
C)   Implementation of the ACA will reduce the waiting time to see a physician, to have tests performed, and to begin physical therapy.
D)   Implementation of the ACA will discourage annual physical check-ups and implementation of workplace wellness programs.

Question 11

Which of the following statements about the medical insurance (Part B) portion of Medicare is (are) true?
I. Participation in Part B of Medicare is voluntary.
II. It is provided at no cost to anyone who is fully insured under Medicare.

Accepted Answer

A)   I only
B)   II only
C)   both I and II
D)   neither I nor II

Question 12

Which of the following statements is true with regard to the Medicare program?

Accepted Answer

A)   While Social Security old-age benefits are available at age 62, Medicare Part A benefits are not available, in most cases, until age 65.
B)   If an individual delays collecting Social Security retirement benefits until after the full retirement age, he or she is not eligible for Medicare benefits until he or she begins to collect retirement benefits.
C)   Part B of Medicare is funded through a payroll tax.
D)   Beneficiaries must pay a monthly premium for Medicare Part A coverage.

Question 13

All of the following persons are eligible for survivor benefits under Social Security EXCEPT

Accepted Answer

A)   dependent parents age 62 or older.
B)   a surviving brother or sister, age 60 or older.
C)   a surviving spouse age 60 or older.
D)   a surviving spouse with eligible children younger than age 16.

Question 14

Which of the following statements about the financing of unemployment insurance benefits is true?

Accepted Answer

A)   Each state maintains its own trust fund at the state level, and the state pays qualified beneficiaries from the trust fund the state administers.
B)   While experience rating is used for other types of insurance, it is not used in unemployment insurance.
C)   Part of an employer's contribution is used for administrative expenses, to fund extended benefits, and to maintain a loan fund that can be drawn upon if the state's account is depleted.
D)   Most state programs are financed primarily by payroll taxes paid by employees.

Question 15

All of the following changes would reduce the long-range deficit for the Social Security program EXCEPT

Accepted Answer

A)   increase the OASDI taxable wage base.
B)   delay scheduled increases in the full retirement age.
C)   make all OASDI benefits fully taxable.
D)   use general revenues of the federal government to help pay benefits.

Question 16

Which of the following statements is (are) true with respect to the Medicare Advantage Plans?
I.These plans replace the original Medicare program, Parts A and B, which are no longer available to new retirees.
II.These plans provide an opportunity for retirees to receive Medicare coverage through private health care plans.

Accepted Answer

A)   I only
B)   II only
C)   both I and II
D)   neither I nor II

Question 17

Which of the following statements about benefits provided by workers compensation programs is true?

Accepted Answer

A)   Occupational disability and nonoccupational disability are covered.
B)   Death benefits and benefits to eligible survivors are payable if a worker is killed on the job.
C)   Medical benefits are usually subject to deductibles, coinsurance, and numerous exclusions.
D)   Retirement benefits are payable to retired workers through workers compensation.

Question 18

A serious current concern with the Social Security program is the depletion of the Disability Income Trust Fund. Each of the following contributed to the depletion of the fund EXCEPT

Accepted Answer

A)   aging of the workforce and baby boomers
B)   changing to a less stringent definition of disability
C)   the increased number of women in the workforce
D)   growth in the size of the labor force over time

Question 19

Which of the following statements about the full retirement age under the Social Security program is true?

Accepted Answer

A)   The current retirement age for full benefits is age 62.
B)   Beginning in the year 2025, the retirement age will be gradually increased to age 75.
C)   Early retirement with reduced benefits is allowed as early as age 55.
D)   Delayed retirement beyond the age for full benefits increases the amount of the monthly benefit.

Question 20

Marion owns substantial financial assets. She was surprised that she qualified for Social Security retirement benefits when she retired because of her high investment income. What characteristic of social insurance programs is Marion overlooking with respect to her Social Security retirement benefits?

Accepted Answer

A)   Social insurance programs are financially self-supporting.
B)   Social insurance program benefits are loosely related to earnings.
C)   Social insurance benefits are not means tested.
D)   Full funding of social insurance programs is unnecessary.

Exam 18: Social Insurance

Which of the following statements about disability benefits under Social Security is true?

Objectives of unemployment insurance include which of the following? I.To help unemployed workers find jobs. II.To encourage employers to stabilize employment.

In order to receive unemployment insurance benefits, an unemployed worker must meet all of the following eligibility requirements EXCEPT

Under the Medicare Prescription Drug Program, a coverage gap (also called a "donut hole") exists after the beneficiary and drug plan pay a certain amount for covered drugs. The coverage gap refers to

Which of the following statements about the financial status of Medicare Part A is (are) true? I.Part A has serious financial problems. II. Reforms instituted by Congress have reduced total Part A expenditures in recent years.

Which of the following is a reason that social insurance programs exist?

Under Part A of Medicare, how is reimbursement for inpatient hospital care determined?

Which of the following statements about the impact of the implementation of the Affordable Care Act (ACA) on workers compensation is true?

Which of the following statements about the medical insurance (Part B) portion of Medicare is (are) true? I. Participation in Part B of Medicare is voluntary. II. It is provided at no cost to anyone who is fully insured under Medicare.

Which of the following statements is true with regard to the Medicare program?

All of the following persons are eligible for survivor benefits under Social Security EXCEPT

Which of the following statements about the financing of unemployment insurance benefits is true?

All of the following changes would reduce the long-range deficit for the Social Security program EXCEPT

Which of the following statements about benefits provided by workers compensation programs is true?

A serious current concern with the Social Security program is the depletion of the Disability Income Trust Fund. Each of the following contributed to the depletion of the fund EXCEPT

Which of the following statements about the full retirement age under the Social Security program is true?