Question 1

The ACA eliminates lifetime limits on total health care insurance payments by insurers.

Accepted Answer

A) True 
 B)False

Question 2

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 and Medicaid cover [more | less] than half of the total cost of long-term care.

Accepted Answer

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

Question 3

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.
-In recent years,HMOs have become [more | less] flexible regarding out-of-network coverage.

Accepted Answer

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

Question 4

Typically group health insurance plans provide substantially less comprehensive coverage than the average individually underwritten policy.

Accepted Answer

A) True 
 B)False

Question 5

Given a $250 annual deductible,an 80% co-insurance provision,and a $5,000 copayment cap,how much of a $27,500 medical bill will be paid by the insured?

Accepted Answer

A) $250 
B) $5,000 
C) $5,450 
D) $5,250 
E) $5,700 
A) $250 
B) $5,000 
C) $5,450 
D) $5,250 
E) $5,700

Question 6

Gabe is 58 years old and has been dependent on a cane for a couple of years.Gabe fears that he may need long-term care services some day in the future.His net worth is $400,000 and he receives $50,000 per year in a pension.He considers himself to be in excellent health and has never had a serious health scare like a heart attack,stroke,or cancer.He eats lots of bran and exercises regularly.Which of the following policies would you recommend to Gabe?

Accepted Answer

A) Gabe needs a disability income policy. 
B) Gabe should buy a long-term care policy with a long elimination period, lifetime benefits, and a COLA. 
C) Gabe should buy a long-term care policy with a five-year limit and short elimination period without a COLA. 
D) Gabe doesn't need disability insurance and probably can't qualify for long-term care insurance. 
E) Gabe can qualify for Medicaid if and when he needs long-term care services. 
A) Gabe needs a disability income policy. 
B) Gabe should buy a long-term care policy with a long elimination period, lifetime benefits, and a COLA. 
C) Gabe should buy a long-term care policy with a five-year limit and short elimination period without a COLA. 
D) Gabe doesn't need disability insurance and probably can't qualify for long-term care insurance. 
E) Gabe can qualify for Medicaid if and when he needs long-term care services.

Question 7

Living a healthy lifestyle is an example of loss prevention and control.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following statements is true about a guaranteed renewable long-term care policy?

Accepted Answer

A) benefits are taxable. 
B) premiums are never tax deductible. 
C) the policy is noncancelable. 
D) premiums cannot be increased by the insurer unless they are increased for the entire rating class. 
E) premiums cannot increase for any reason. 
A) benefits are taxable. 
B) premiums are never tax deductible. 
C) the policy is noncancelable. 
D) premiums cannot be increased by the insurer unless they are increased for the entire rating class. 
E) premiums cannot increase for any reason.

Question 9

An Individual Practice Association differs from an HMO in that

Accepted Answer

A) you have no choice of the physician. 
B) they are located in a central facility. 
C) associated doctors operate from their own offices. 
D) they are less likely to be found in small communities. 
E) none of these. 
A) you have no choice of the physician. 
B) they are located in a central facility. 
C) associated doctors operate from their own offices. 
D) they are less likely to be found in small communities. 
E) none of these.

Question 10

Comprehensive major medical simply increases the policy limits of major medical insurance without changing the coverage.

Accepted Answer

A) True 
 B)False

Question 11

Hospital insurance will pay daily room and board charges up to a specified number of days and reimbursement for ancillary charges up to a specified dollar amount.

Accepted Answer

A) True 
 B)False

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.
-Having your "reasonable and customary" surgical expenses paid is an example of [fee-for-service | scheduled] benefits.

Accepted Answer

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

Question 13

Which of the following is characteristic of social security disability income coverage?

Accepted Answer

A) There is a one-year waiting period. 
B) It uses the "own occupation" definition of disability. 
C) Benefits are payable only if the disability is expected to last one year or be fatal. 
D) a and b 
E) a, b, and d 
A) There is a one-year waiting period. 
B) It uses the "own occupation" definition of disability. 
C) Benefits are payable only if the disability is expected to last one year or be fatal. 
D) a and b 
E) a, b, and d

Question 14

Suppose Janet,a skilled neurosurgeon,became unable to perform surgery because of severe arthritis.Which of the following is true?

Accepted Answer

A) If Janet has a disability policy with an "own occupation" definition of disability, she will probably collect some benefits. 
B) If Janet has a disability policy with an "own occupation" definition of disability, the insurer will provide coverage only if Janet would not be able to perform another type of job such as teaching or consulting. 
C) If Janet has a disability policy with an "any occupation for which reasonably suited" definition of disability, the insurer will attempt to determine if there is another job for which Janet is suited and is still able to perform. 
D) If Janet has a disability policy with a presumptive disability clause for loss of hands, she will probably collect some benefits. 
E) ​Both a and c are true. 
A) If Janet has a disability policy with an "own occupation" definition of disability, she will probably collect some benefits. 
B) If Janet has a disability policy with an "own occupation" definition of disability, the insurer will provide coverage only if Janet would not be able to perform another type of job such as teaching or consulting. 
C) If Janet has a disability policy with an "any occupation for which reasonably suited" definition of disability, the insurer will attempt to determine if there is another job for which Janet is suited and is still able to perform. 
D) If Janet has a disability policy with a presumptive disability clause for loss of hands, she will probably collect some benefits. 
E) ​Both a and c are true.

Question 15

The definition of "disability" is standardized in disability income policies.

Accepted Answer

A) True 
 B)False

Question 16

Medicare and Medicaid are hospital and physicians coverage,respectively.

Accepted Answer

A) True 
 B)False

Question 17

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 would pay [the entire | part of the] hospital bill for a covered person.

Accepted Answer

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

Question 18

Disability income policies usually have ____ that is a time delay from the date of the issuance of the policy until benefit privileges are activated.

Accepted Answer

A) waiting periods 
B) probationary periods 
C) elimination periods 
D) internal limit periods 
E) outer limits 
A) waiting periods 
B) probationary periods 
C) elimination periods 
D) internal limit periods 
E) outer limits

Question 19

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

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 Medicare coinsurance payment is usually [10% | 20%].

Accepted Answer

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

The ACA eliminates lifetime limits on total health care insurance payments by insurers.

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 and Medicaid cover [more | less] than half of the total cost of long-term care.

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. -In recent years,HMOs have become [more | less] flexible regarding out-of-network coverage.

Typically group health insurance plans provide substantially less comprehensive coverage than the average individually underwritten policy.

Given a $250 annual deductible,an 80% co-insurance provision,and a $5,000 copayment cap,how much of a $27,500 medical bill will be paid by the insured?

Living a healthy lifestyle is an example of loss prevention and control.

Which of the following statements is true about a guaranteed renewable long-term care policy?

An Individual Practice Association differs from an HMO in that

Comprehensive major medical simply increases the policy limits of major medical insurance without changing the coverage.

Hospital insurance will pay daily room and board charges up to a specified number of days and reimbursement for ancillary charges up to a specified dollar amount.

Which of the following is characteristic of social security disability income coverage?

Suppose Janet,a skilled neurosurgeon,became unable to perform surgery because of severe arthritis.Which of the following is true?

The definition of "disability" is standardized in disability income policies.

Medicare and Medicaid are hospital and physicians coverage,respectively.

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 would pay [the entire | part of the] hospital bill for a covered person.

Disability income policies usually have ____ that is a time delay from the date of the issuance of the policy until benefit privileges are activated.

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

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 Medicare coinsurance payment is usually [10% | 20%].

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

The ACA eliminates lifetime limits on total health care insurance payments by insurers.

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 and Medicaid cover [more | less] than half of the total cost of long-term care.

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. -In recent years,HMOs have become [more | less] flexible regarding out-of-network coverage.

Typically group health insurance plans provide substantially less comprehensive coverage than the average individually underwritten policy.

Given a $250 annual deductible,an 80% co-insurance provision,and a $5,000 copayment cap,how much of a $27,500 medical bill will be paid by the insured?

Living a healthy lifestyle is an example of loss prevention and control.

Which of the following statements is true about a guaranteed renewable long-term care policy?

An Individual Practice Association differs from an HMO in that

Comprehensive major medical simply increases the policy limits of major medical insurance without changing the coverage.

Hospital insurance will pay daily room and board charges up to a specified number of days and reimbursement for ancillary charges up to a specified dollar amount.

Which of the following is characteristic of social security disability income coverage?

Suppose Janet,a skilled neurosurgeon,became unable to perform surgery because of severe arthritis.Which of the following is true?

The definition of "disability" is standardized in disability income policies.

Medicare and Medicaid are hospital and physicians coverage,respectively.

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 would pay [the entire | part of the] hospital bill for a covered person.

Disability income policies usually have ____ that is a time delay from the date of the issuance of the policy until benefit privileges are activated.

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

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 Medicare coinsurance payment is usually [10% | 20%].

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