Question 1

A policy provision ensuring continued insurance coverage for the insured's lifetime as long as the premiums continue to be paid is known as:

Accepted Answer

A)  a policy exclusion. 
B)  co-insurance. 
C)  a co-payment. 
D)  benefits duration. 
E)  guaranteed renewability. 
A)  a policy exclusion. 
B)  co-insurance. 
C)  a co-payment. 
D)  benefits duration. 
E)  guaranteed renewability.

Question 2

The cost of workers' compensation insurance is usually paid by the employees.

Accepted Answer

A) True 
 B)False

Question 3

INSTRUCTIONS: 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. 
[ Custodial | Intermediate ] care is provided when the patient needs medical attention or supervision but not the constant attention of a medical professional.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

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 3 months. 
D)  expected to be disabled for at least 1 month. 
E)  expected to be disabled for no more than 6 months. 
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 3 months. 
D)  expected to be disabled for at least 1 month. 
E)  expected to be disabled for no more than 6 months.

Question 5

INSTRUCTIONS: 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 INSTRUCTIONS: Choose the word or phrase in...

Question 6

INSTRUCTIONS: 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 most popular type of health maintenance organization (HMO) is the [ group HMO | individual practice association ( IPA) ].

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 7

Health maintenance organizations (HMOs) provide health care to participants without requiring them to file insurance claims.

Accepted Answer

A) True 
 B)False

Question 8

The maximum limit on most dental policies is often in the range of _____ per patient.

Accepted Answer

A)  $1,500 to $2,500 
B)  $2,000 to $2,500 
C)  $1,000 to $2,500 
D)  $1,500 to $2,000 
E)  $3,000 to $5,000 
A)  $1,500 to $2,500 
B)  $2,000 to $2,500 
C)  $1,000 to $2,500 
D)  $1,500 to $2,000 
E)  $3,000 to $5,000

Question 9

INSTRUCTIONS: 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 income | pay medical bills ] when you are disabled.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 10

If you are laid off, your group health insurance:

Accepted Answer

A)  can be continued if the employer chooses to. 
B)  must be continued if you pay the premiums. 
C)  must be continued and your ex-employer pays the premiums. 
D)  is continued and is paid by Social Security. 
E)  is immediately terminated. 
A)  can be continued if the employer chooses to. 
B)  must be continued if you pay the premiums. 
C)  must be continued and your ex-employer pays the premiums. 
D)  is continued and is paid by Social Security. 
E)  is immediately terminated.

Question 11

Large employers are less likely to offer health insurance to their employees than small employers.

Accepted Answer

A) True 
 B)False

Question 12

Internal limits are constraints placed on insurance agents stipulating the level of risk for which they can write a policy.

Accepted Answer

A) True 
 B)False

Question 13

INSTRUCTIONS: 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. 
Expenses for accidental damage to natural teeth [ are | are not ] normally covered under standard surgical expense and major medical policies.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 14

Medicare Part A provides:

Accepted Answer

A)  prescription drug coverage. 
B)  services of physicians and surgeons. 
C)  inpatient hospital services. 
D)  home health services. 
E)  compensation for workers injured on the job. 
A)  prescription drug coverage. 
B)  services of physicians and surgeons. 
C)  inpatient hospital services. 
D)  home health services. 
E)  compensation for workers injured on the job.

Question 15

INSTRUCTIONS: 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. 
Unhealthy lifestyles contribute to more than [ 40%  | 60% ] of all diagnosed illnesses.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 16

Which of the  following statements regarding private health insurance plans is true?

Accepted Answer

A)  With a fee-for-service plan, the health care provider is the same as the insurer. 
B)  With a traditional indemnity plan, the premium cost is low if it is a high-deductible plan. 
C)  With a managed care plan, the employer contracts with the health care provider. 
D)  With a traditional indemnity plan, the insured pays 80% of the eligible health care expenses. 
E)  Group health insurance is a contract between pharmaceutical companies and the health care provider. 
A)  With a fee-for-service plan, the health care provider is the same as the insurer. 
B)  With a traditional indemnity plan, the premium cost is low if it is a high-deductible plan. 
C)  With a managed care plan, the employer contracts with the health care provider. 
D)  With a traditional indemnity plan, the insured pays 80% of the eligible health care expenses. 
E)  Group health insurance is a contract between pharmaceutical companies and the health care provider.

Question 17

Under the adjusted (modified) community rating approach to health insurance premium pricing, all policyholders in an area pay the same premium without regard to their personal health, age, gender, or other factors.

Accepted Answer

A) True 
 B)False

Question 18

One of the key goals of the Patient Protection and Affordable Care Act (ACA) is:

Accepted Answer

A)  to increase the amount of Social Security taxes. 
B)  to reduce the number of uninsured citizens in the country. 
C)  to provide health care coverage to employers employing less than 50 full-time employees. 
D)  to underwrite the employee health care coverage on behalf of employers. 
E)  to penalize employers for employees' job-related illnesses or injuries. 
A)  to increase the amount of Social Security taxes. 
B)  to reduce the number of uninsured citizens in the country. 
C)  to provide health care coverage to employers employing less than 50 full-time employees. 
D)  to underwrite the employee health care coverage on behalf of employers. 
E)  to penalize employers for employees' job-related illnesses or injuries.

Question 19

During the past few decades, the percentage of our income spent on health care:

Accepted Answer

A)  has increased due to an aging U.S. population. 
B)  has decreased due to advances in medical technology. 
C)  has increased due to advanced demand-and-supply distribution of health care facilities. 
D)  has decreased due to increased regulation and decreased administrative costs. 
E)  has decreased due to the reduction in health care costs. 
A)  has increased due to an aging U.S. population. 
B)  has decreased due to advances in medical technology. 
C)  has increased due to advanced demand-and-supply distribution of health care facilities. 
D)  has decreased due to increased regulation and decreased administrative costs. 
E)  has decreased due to the reduction in health care costs.

Question 20

Long-term care is a term used to describe:

Accepted Answer

A)  the inflation protection riders in the insurance policy. 
B)  the delivery of medical and personal care to persons with chronic medical conditions who are not in a hospital. 
C)  the coverage for a serious illness or accident that prevents an insured person from working for an extended period. 
D)  an extended period of hospital stay due to a serious illness or accident. 
E)  compensation provided to workers who are injured on the job or become ill through work-related causes. 
A)  the inflation protection riders in the insurance policy. 
B)  the delivery of medical and personal care to persons with chronic medical conditions who are not in a hospital. 
C)  the coverage for a serious illness or accident that prevents an insured person from working for an extended period. 
D)  an extended period of hospital stay due to a serious illness or accident. 
E)  compensation provided to workers who are injured on the job or become ill through work-related causes.

A policy provision ensuring continued insurance coverage for the insured's lifetime as long as the premiums continue to be paid is known as:

The cost of workers' compensation insurance is usually paid by the employees.

In order to qualify for disability insurance under Social Security, a person must be:

Health maintenance organizations (HMOs) provide health care to participants without requiring them to file insurance claims.

The maximum limit on most dental policies is often in the range of _____ per patient.

If you are laid off, your group health insurance:

Large employers are less likely to offer health insurance to their employees than small employers.

Internal limits are constraints placed on insurance agents stipulating the level of risk for which they can write a policy.

Medicare Part A provides:

INSTRUCTIONS: 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. Unhealthy lifestyles contribute to more than [ 40% | 60% ] of all diagnosed illnesses.

Which of the following statements regarding private health insurance plans is true?

Under the adjusted (modified) community rating approach to health insurance premium pricing, all policyholders in an area pay the same premium without regard to their personal health, age, gender, or other factors.

One of the key goals of the Patient Protection and Affordable Care Act (ACA) is:

During the past few decades, the percentage of our income spent on health care:

Long-term care is a term used to describe:

Understanding the Financial Planning Process

Developing Your Financial Statements and Plans

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 and Real Estate

Planning for Retirement

Preserving Your Estate

Filters

Exam 9: Insuring Your Health

A policy provision ensuring continued insurance coverage for the insured's lifetime as long as the premiums continue to be paid is known as:

The cost of workers' compensation insurance is usually paid by the employees.

In order to qualify for disability insurance under Social Security, a person must be:

Health maintenance organizations (HMOs) provide health care to participants without requiring them to file insurance claims.

The maximum limit on most dental policies is often in the range of _____ per patient.

If you are laid off, your group health insurance:

Large employers are less likely to offer health insurance to their employees than small employers.

Internal limits are constraints placed on insurance agents stipulating the level of risk for which they can write a policy.

Medicare Part A provides:

INSTRUCTIONS: 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. Unhealthy lifestyles contribute to more than [ 40% | 60% ] of all diagnosed illnesses.

Which of the following statements regarding private health insurance plans is true?

Under the adjusted (modified) community rating approach to health insurance premium pricing, all policyholders in an area pay the same premium without regard to their personal health, age, gender, or other factors.

One of the key goals of the Patient Protection and Affordable Care Act (ACA) is:

During the past few decades, the percentage of our income spent on health care:

Long-term care is a term used to describe:

Understanding the Financial Planning Process

Developing Your Financial Statements and Plans

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 and Real Estate

Planning for Retirement

Preserving Your Estate

Filters