Question 1

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 B

Question 2

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 D

Question 3

Medicare and Medicaid are hospital and physicians coverage,respectively.

Accepted Answer

A) True 
 B)False  False

Question 4

In order to qualify for disability insurance under social security,a person must be

Accepted Answer

A)  unable to carry out the duties of the current job. 
B)  unable to carry out the duties of any job. 
C)  ill for at least two years. 
D)  willing to undergo rehabilitation. 
E)  none of these 
A)  unable to carry out the duties of the current job. 
B)  unable to carry out the duties of any job. 
C)  ill for at least two years. 
D)  willing to undergo rehabilitation. 
E)  none of these

Question 5

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 6

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 7

Ben's health coverage charges a low ($15)deductible each time he visits the doctor or hospital.Other than the low per-service deductible,there is very little cost sharing.However,Ben must go to the health care providers listed by the provider of the health coverage.If he goes to a provider that is not on the list,there is very little coverage.Which of the following types of entity most likely provides Abe's health coverage?

Accepted Answer

A)  HMO 
B)  Blue Cross/Blue Shield association 
C)  commercial insurer (major medical) 
D)  PPO 
E)  fee-for-service indemnity plan 
A)  HMO 
B)  Blue Cross/Blue Shield association 
C)  commercial insurer (major medical) 
D)  PPO 
E)  fee-for-service indemnity plan

Question 8

The fastest growing segment of the health care industry is

Accepted Answer

A)  fee for service plans. 
B)  Medicaid. 
C)  managed care plans. 
D)  All of these are growing at the same rate. 
E)  none of these. 
A)  fee for service plans. 
B)  Medicaid. 
C)  managed care plans. 
D)  All of these are growing at the same rate. 
E)  none of these.

Question 9

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

Accepted Answer

A)  policy exclusions. 
B)  persons covered. 
C)  continuation. 
D)  duration of benefits. 
E)  renewability. 
A)  policy exclusions. 
B)  persons covered. 
C)  continuation. 
D)  duration of benefits. 
E)  renewability.

Question 10

Which of 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 47, 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 63, 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 47, 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 63, married, makes $73,000 per year and has a net worth of $4,000,000

Question 11

Workers compensation may trigger coverage in a disability income policy.

Accepted Answer

A) True 
 B)False

Question 12

If your employment is terminated,COBRA provides for

Accepted Answer

A)  cancellation of all group insurance benefits. 
B)  continuation of group insurance benefits until you are reemployed. 
C)  permanent continuation of group health insurance. 
D)  temporary continuation of group insurance benefits; you pay premiums. 
E)  temporary continuation of group insurance benefits; employer pays premiums. 
A)  cancellation of all group insurance benefits. 
B)  continuation of group insurance benefits until you are reemployed. 
C)  permanent continuation of group health insurance. 
D)  temporary continuation of group insurance benefits; you pay premiums. 
E)  temporary continuation of group insurance benefits; employer pays premiums.

Question 13

Hospital insurance policies will pay for all hospital expenditures most of the time.

Accepted Answer

A) True 
 B)False

Question 14

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.
-You would be more likely to receive [70 | 90] percent of your pre-disability income from a disability income policy.

Accepted Answer

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

Question 15

Advances in medical technology,prescriptions drugs and treatments have substantially reduced the costs health care in recent decades.

Accepted Answer

A) True 
 B)False

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.
-Premiums for Workers Compensation are paid by the [employees | employers].

Accepted Answer

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

Question 17

Major medical often supplements the basic coverage of hospital,surgical,and physician's expense insurance.

Accepted Answer

A) True 
 B)False

Question 18

Most group insurance policies require a second opinion for non-surgical procedures.

Accepted Answer

A) True 
 B)False

Question 19

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 insurance is designed to [replace some of your income | pay medical bills] when you are disabled.

Accepted Answer

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

Question 20

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 government | Individuals] pay(s)a larger share of personal health care expenses than private health insurance.

Accepted Answer

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

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

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

Medicare and Medicaid are hospital and physicians coverage,respectively.

In order to qualify for disability insurance under social security,a person must be

Health insurance coverage can include

The fastest growing segment of the health care industry is

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

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

Workers compensation may trigger coverage in a disability income policy.

If your employment is terminated,COBRA provides for

Hospital insurance policies will pay for all hospital expenditures most of the time.

Advances in medical technology,prescriptions drugs and treatments have substantially reduced the costs health care in recent decades.

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. -Premiums for Workers Compensation are paid by the [employees | employers].

Major medical often supplements the basic coverage of hospital,surgical,and physician's expense insurance.

Most group insurance policies require a second opinion for non-surgical procedures.

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 insurance is designed to [replace some of your income | pay medical bills] when you are disabled.

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

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Exam 9: Insuring Your Health

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

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

Medicare and Medicaid are hospital and physicians coverage,respectively.

In order to qualify for disability insurance under social security,a person must be

Health insurance coverage can include

The fastest growing segment of the health care industry is

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

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

Workers compensation may trigger coverage in a disability income policy.

If your employment is terminated,COBRA provides for

Hospital insurance policies will pay for all hospital expenditures most of the time.

Advances in medical technology,prescriptions drugs and treatments have substantially reduced the costs health care in recent decades.

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. -Premiums for Workers Compensation are paid by the [employees | employers].

Major medical often supplements the basic coverage of hospital,surgical,and physician's expense insurance.

Most group insurance policies require a second opinion for non-surgical procedures.

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