Question 1

Insurers are required to cover people with pre-existing medical conditions without limiting or setting unrealistically high insurance rates.

Accepted Answer

A) True 
 B)False

Question 2

The "O" in COBRA stands for which of the following words?

Accepted Answer

A) Optical 
B) Opportunity 
C) Ordinary 
D) Omnibus 
E) Occupational 
A) Optical 
B) Opportunity 
C) Ordinary 
D) Omnibus 
E) Occupational

Question 3

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part B coverage includes

Accepted Answer

A) hospital expenses. 
B) doctor's bills. 
C) custodial nursing home expenses. 
D) prescription drugs. 
E) all of the above. 
A) hospital expenses. 
B) doctor's bills. 
C) custodial nursing home expenses. 
D) prescription drugs. 
E) all of the above.

Question 4

HSAs are funded solely by employers,while HRAs are funded solely by employees.

Accepted Answer

A) True 
 B)False

Question 5

Nick has a comprehensive health care policy with a $250 per-calendar-year deductible,an 80% co-insurance provision,and a $1,000 copayment cap per calendar year.In January,Nick had a $600 claim for which the insurance company paid $280.Nick experiences another unrelated claim in October resulting in total bills of $5,000.How much will Nick have to pay for the second claim?

Accepted Answer

A) $5,000 
B) $3,930 
C) $1,800 
D) $930 
E) None of the above 
A) $5,000 
B) $3,930 
C) $1,800 
D) $930 
E) None of the above

Question 6

Bob and Barbara Castle are each 39 years old and have sought your advice with regard to their financial affairs.Bob is a school administrator making $75,000 per year and Barbara is not employed outside of the home.The Castles' net worth is approximately $190,000.They have three kids,ages 6,10,and 14.You have determined that the Castles currently have adequate life,health,auto,and homeowner's insurance.Which of the following forms of insurance is likely to fulfill their highest-priority remaining risk-management need?

Accepted Answer

A) supplemental major medical insurance 
B) disability income insurance 
C) critical illness insurance 
D) long-term care insurance 
E) additional life insurance 
A) supplemental major medical insurance 
B) disability income insurance 
C) critical illness insurance 
D) long-term care insurance 
E) additional life insurance

Question 7

For most people,a managed care plan is a cheaper option compared to an indemnity plan.

Accepted Answer

A) True 
 B)False

Question 8

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.
-Surgical expense insurance will pay for cosmetic surgery [if so desired by the insured | if deemed medically necessary].

Accepted Answer

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

Question 9

Choosing insurance plans with deductibles and waiting periods is a form of risk assumption.

Accepted Answer

A) True 
 B)False

Question 10

Disability income insurance will provide income to a disabled or ill person

Accepted Answer

A) without a waiting period. 
B) with unlimited funds for years. 
C) with a waiting period before income is received. 
D) with payments made to the recipient for up to age 70. 
E) none of the above. 
A) without a waiting period. 
B) with unlimited funds for years. 
C) with a waiting period before income is received. 
D) with payments made to the recipient for up to age 70. 
E) none of the above.

Question 11

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.
-[Medicare | Workers' compensation] pays for medical expenses that are the result of on-the-job injuries and job-related illnesses.

Accepted Answer

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

Question 12

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.
-Physician's expense insurance [would | would not] pay for the cost of a routine office call.

Accepted Answer

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

Question 13

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 ["own occupation" | "any occupation"] definition of disability is more restrictive.

Accepted Answer

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

Question 14

You have a better chance of choosing your own doctor with a PPO than with an HMO.

Accepted Answer

A) True 
 B)False

Question 15

Activities of daily living (ADLs)are important in determining ____ for long-term care insurance.

Accepted Answer

A) type of care 
B) services covered 
C) waiting period 
D) eligibility 
E) benefit duration 
A) type of care 
B) services covered 
C) waiting period 
D) eligibility 
E) benefit duration

Question 16

When trying to determine your disability income needs,you should consider available sick leave,income needs,and

Accepted Answer

A) social security benefits. 
B) surgical expense protection. 
C) Medicare. 
D) life insurance. 
E) income tax bracket. 
A) social security benefits. 
B) surgical expense protection. 
C) Medicare. 
D) life insurance. 
E) income tax bracket.

Question 17

As an HMO member,you may have co-payments but no deductibles.

Accepted Answer

A) True 
 B)False

Question 18

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 19

The United States spends about ___ the average of other rich economies on health care.

Accepted Answer

A) half 
B) the same as 
C) twice 
D) three times 
E) four times 
A) half 
B) the same as 
C) twice 
D) three times 
E) four times

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.
-Your health insurance will usually pay [the same | less] for mental health problems compared to physical problems.

Accepted Answer

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

Insurers are required to cover people with pre-existing medical conditions without limiting or setting unrealistically high insurance rates.

The "O" in COBRA stands for which of the following words?

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part B coverage includes

HSAs are funded solely by employers,while HRAs are funded solely by employees.

For most people,a managed care plan is a cheaper option compared to an indemnity plan.

Choosing insurance plans with deductibles and waiting periods is a form of risk assumption.

Disability income insurance will provide income to a disabled or ill person

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. -Physician's expense insurance [would | would not] pay for the cost of a routine office call.

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 ["own occupation" | "any occupation"] definition of disability is more restrictive.

You have a better chance of choosing your own doctor with a PPO than with an HMO.

Activities of daily living (ADLs)are important in determining ____ for long-term care insurance.

When trying to determine your disability income needs,you should consider available sick leave,income needs,and

As an HMO member,you may have co-payments but no deductibles.

The United States spends about ___ the average of other rich economies on health care.

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

Insurers are required to cover people with pre-existing medical conditions without limiting or setting unrealistically high insurance rates.

The "O" in COBRA stands for which of the following words?

Medicare is a government-sponsored health care plan composed of Part A and Part B.Part B coverage includes

HSAs are funded solely by employers,while HRAs are funded solely by employees.

For most people,a managed care plan is a cheaper option compared to an indemnity plan.

Choosing insurance plans with deductibles and waiting periods is a form of risk assumption.

Disability income insurance will provide income to a disabled or ill person

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. -Physician's expense insurance [would | would not] pay for the cost of a routine office call.

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 ["own occupation" | "any occupation"] definition of disability is more restrictive.

You have a better chance of choosing your own doctor with a PPO than with an HMO.

Activities of daily living (ADLs)are important in determining ____ for long-term care insurance.

When trying to determine your disability income needs,you should consider available sick leave,income needs,and

As an HMO member,you may have co-payments but no deductibles.

The United States spends about ___ the average of other rich economies on health care.

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