Question 1

The definition of disability:

Accepted Answer

A)   is universally accepted.
B)   varies.
C)   is standardized by the American Council of Life Insurance.
D)   has been formalized by the National Disability Council.
E)   is provided by the Insurance Information Institute.F) C) and E)
G) A) and B)

Question 2

Dread disease and cancer policies are usually very good values.

Accepted Answer

A) True 
 B)False

Question 3

Which one of the following would be your best selection if you could only choose one of the following types of insurance?

Accepted Answer

A)   A basic plan combined with a major supplementary plan
B)   Combined dental and vision plan
C)   Dread disease and cancer plan
D)   Long-term care
E)   AccidentF) B) and D)
G) C) and D)

Question 4

Medicare medical insurance is:

Accepted Answer

A)   mandatory.
B)   financed by corporations.
C)   voluntary, and you must sign up for coverage.
D)   state supported and partially funded by the National Institutes of Health.
E)   paid for by state governments.F) A) and C)
G) C) and D)

Question 5

Medigap is sold or serviced by:

Accepted Answer

A)   Medicare.
B)   Medicaid.
C)   private insurance companies.
D)   Health Care Financing Administration.
E)   National Institutes of Health.F) A) and B)
G) D) and E)

Question 6

A deductible provision requires the policyholder to pay a basic amount before the policy benefits begin.

Accepted Answer

A) True 
 B)False

Question 7

What is disability income insurance? What are the major sources of disability income insurance?

Accepted Answer

Disability income insurance benefits pro...

Question 8

Medicaid is financed by both state and federal funds.

Accepted Answer

A) True 
 B)False

Question 9

The best way to avoid the high cost of illness is to stay well.

Accepted Answer

A) True 
 B)False

Question 10

Two sources of government health insurance are Medicare and Medicaid.

Accepted Answer

A) True 
 B)False

Question 11

In 2009, the largest percentage of U.S. health care dollars was spent on:

Accepted Answer

A)   hospital care.
B)   dental care.
C)   physician/clinical services.
D)   prescription drugs.
E)   nursing care.F) None of the above
G) B) and C)

Question 12

The premium for noncancelable and guaranteed renewable coverage is higher, but the coverage is well worth the extra cost.

Accepted Answer

A) True 
 B)False

Question 13

Which type of health insurance pays part or all of an insured's hospital bills for room, board, and other charges?

Accepted Answer

A)   Surgical expense
B)   Hospital expense
C)   Physician's expense
D)   Medicare Part B
E)   Major medicalF) A) and B)
G) C) and D)

Question 14

The United States has the lowest per capita medical expenditures of any industrialized country in the world.

Accepted Answer

A) True 
 B)False

Question 15

The waiting period in disability income insurance is called the ____________ period.

Accepted Answer

A)   exclusion
B)   no benefit
C)   coverage
D)   trade-off
E)   eliminationF) A) and C)
G) A) and B)

Question 16

Long-term care insurance was virtually unknown 25 years ago, but now it is growing faster than any other form of insurance.

Accepted Answer

A) True 
 B)False

Question 17

Which health care institution directly employs or contracts with selected medical care specialists to provide managed health care services in exchange for a fixed, prepaid monthly premium?

Accepted Answer

A)   Blue Cross
B)   Blue Shield
C)   Medicare
D)   Medicaid
E)   HMOF) A) and B)
G) A) and C)

Question 18

Because Medicaid coverage is very limited, people using it need to purchase supplemental insurance.

Accepted Answer

A) True 
 B)False

Question 19

Sophie Bennett is required to pay 20 percent of her medical costs up to a stated dollar limit. What is this requirement called?

Accepted Answer

A)   Coordination of benefits
B)   Deductible
C)   Coinsurance
D)   Stop-loss provision
E)   Waiver of premiumF) C) and D)
G) All of the above

Question 20

What are the five basic types of health insurance? What are their benefits and limitations?

Accepted Answer

Five basic types of health insurance are...

Exam 11: Health, Disability, and Long-Term Care Insurance

What is disability income insurance? What are the major sources of disability income insurance?

Correct AnswerverifiedDisability income insurance benefits pro...View AnswerShow Answer

Sophie Bennett is required to pay 20 percent of her medical costs up to a stated dollar limit. What is this requirement called?

Correct AnswerverifiedShow Answer

Because Medicaid coverage is very limited, people using it need to purchase supplemental insurance.

Correct AnswerverifiedShow Answer

Which health care institution directly employs or contracts with selected medical care specialists to provide managed health care services in exchange for a fixed, prepaid monthly premium?

Correct AnswerverifiedShow Answer

In 2009, the largest percentage of U.S. health care dollars was spent on:

Correct AnswerverifiedShow Answer

Dread disease and cancer policies are usually very good values.

Correct AnswerverifiedShow Answer

The waiting period in disability income insurance is called the ____________ period.

Correct AnswerverifiedShow Answer

Two sources of government health insurance are Medicare and Medicaid.

Correct AnswerverifiedShow Answer

Which one of the following would be your best selection if you could only choose one of the following types of insurance?

Correct AnswerverifiedShow Answer

What are the five basic types of health insurance? What are their benefits and limitations?

Correct AnswerverifiedFive basic types of health insurance are...View AnswerShow Answer

The United States has the lowest per capita medical expenditures of any industrialized country in the world.

Correct AnswerverifiedShow Answer

Medicaid is financed by both state and federal funds.

Correct AnswerverifiedShow Answer

The best way to avoid the high cost of illness is to stay well.

Correct AnswerverifiedShow Answer

The premium for noncancelable and guaranteed renewable coverage is higher, but the coverage is well worth the extra cost.

Correct AnswerverifiedShow Answer

A deductible provision requires the policyholder to pay a basic amount before the policy benefits begin.

Correct AnswerverifiedShow Answer

Medicare medical insurance is:

Correct AnswerverifiedShow Answer

Which type of health insurance pays part or all of an insured's hospital bills for room, board, and other charges?

Correct AnswerverifiedShow Answer

Long-term care insurance was virtually unknown 25 years ago, but now it is growing faster than any other form of insurance.

Correct AnswerverifiedShow Answer

The definition of disability:

Correct AnswerverifiedShow Answer

Medigap is sold or serviced by:

Correct AnswerverifiedShow Answer

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Disability income insurance benefits pro...
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Five basic types of health insurance are...
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