Question 1

Good disability plans pay when you are unable to work at your regular job; poor disability plans pay only when you are unable to work at any job.

Accepted Answer

A) True 
 B)False

Question 2

Medigap insurance, intended to supplement Medicare, is sold and serviced by the federal government.

Accepted Answer

A) True 
 B)False

Question 3

Renee Crowgy's policy includes a $500 deductible and a coinsurance provision requiring her to pay 20 percent thereafter. Her medical bills total $5,500. What amount is she required to pay personally?

Accepted Answer

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

Question 4

Health insurance includes:

Accepted Answer

A)   life insurance.
B)   disability insurance.
C)   personal liability insurance.
D)   an annuity.
E)   an endowment.

Question 5

Public opinion polls consistently show that Americans are happy with the nation's health care system.

Accepted Answer

A) True 
 B)False

Question 6

The hospital indemnity policy is a good substitute for basic or major medical protection.

Accepted Answer

A) True 
 B)False

Question 7

Which type of insurance provides for the partial replacement of income lost by employees as a result of an accident or illness?

Accepted Answer

A)   Comprehensive major medical
B)   Major medical expense
C)   Physician's expense
D)   Disability income
E)   Surgical expense

Question 8

Hospital expense insurance pays part or all of the hospital bills for room, board, and other charges.

Accepted Answer

A) True 
 B)False

Question 9

Most people are more likely to lose their income due to death than due to disability.

Accepted Answer

A) True 
 B)False

Question 10

Group health insurance plans comprise about what percent of all health insurance issued by health and life insurance companies?

Accepted Answer

A)   20
B)   40
C)   65
D)   80
E)   90 E

Question 11

Basic health insurance coverage includes hospital expense insurance, surgical expense insurance, and physician expense insurance.

Accepted Answer

A) True 
 B)False

Question 12

A good health insurance plan should:

Accepted Answer

A)   pay at least 80 percent for out-of-hospital expenses after the yearly deductible.
B)   provide at least 120 days' hospital room and board in full.
C)   provide at least a $1 million lifetime maximum for each family member.
D)   impose no unreasonable exclusions.
E)   offer all of the listed provisions.

Question 13

Unfortunately, most salaried workers in the United States do not participate in Social Security programs.

Accepted Answer

A) True 
 B)False

Question 14

Joan Wilder receives a phone call from a salesperson who tries to sell her an insurance policy by scaring her about her high risk of death from this disease. She knows that this type of insurance policy has a notoriously poor value so she politely declines. What type of insurance policy did this salesperson likely try to sell her?

Accepted Answer

A)   Comprehensive major medical
B)   Hospital indemnity
C)   Long-term care
D)   Cancer
E)   Disability income D

Question 15

Darren Chase has an insurance policy that will only pay for a maximum of 60 days of hospitalization during a year. What provision in his insurance policy would specify this?

Accepted Answer

A)   Eligibility
B)   Assigned benefits
C)   Benefit limits
D)   Guaranteed renewable
E)   Exclusions

Question 16

Chris Jones has an insurance policy that pays benefits in cash when he is hospitalized. What type of insurance would this be?

Accepted Answer

A)   Comprehensive major medical
B)   Hospital indemnity
C)   Long-term care
D)   Cancer
E)   Disability income

Question 17

Group health insurance will cover you but not your immediate family.

Accepted Answer

A) True 
 B)False  False

Question 18

Harry Mayhue gets a bad case of the flu and ends up in the hospital for three days. Which part of his basic insurance coverage should help pay for this stay?

Accepted Answer

A)   Hospital expense
B)   Surgical expense
C)   Physician expense
D)   Major medical
E)   Medicare Part B

Question 19

Which health care plan is administered by each state within certain broad federal requirements and guidelines?

Accepted Answer

A)   Blue Cross
B)   Blue Shield
C)   Medicare
D)   Medicaid
E)   HMO

Question 20

In the U.S., administrative costs consume nearly 11 percent of health care dollars, compared to 1 percent under Canada's socialized system.

Accepted Answer

A) True 
 B)False

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

Good disability plans pay when you are unable to work at your regular job; poor disability plans pay only when you are unable to work at any job.

Correct Answer
verified

Medigap insurance, intended to supplement Medicare, is sold and serviced by the federal government.

Correct Answer
verified

Renee Crowgy's policy includes a $500 deductible and a coinsurance provision requiring her to pay 20 percent thereafter. Her medical bills total $5,500. What amount is she required to pay personally?

Correct Answer
verified

Health insurance includes:

Correct Answer
verified

Public opinion polls consistently show that Americans are happy with the nation's health care system.

Correct Answer
verified

The hospital indemnity policy is a good substitute for basic or major medical protection.

Correct Answer
verified

Which type of insurance provides for the partial replacement of income lost by employees as a result of an accident or illness?

Correct Answer
verified

Hospital expense insurance pays part or all of the hospital bills for room, board, and other charges.

Correct Answer
verified

Most people are more likely to lose their income due to death than due to disability.

Correct Answer
verified

Group health insurance plans comprise about what percent of all health insurance issued by health and life insurance companies?

Correct Answer
verified
E

Basic health insurance coverage includes hospital expense insurance, surgical expense insurance, and physician expense insurance.

Correct Answer
verified

A good health insurance plan should:

Correct Answer
verified

Unfortunately, most salaried workers in the United States do not participate in Social Security programs.

Correct Answer
verified

Correct Answer
verified
D

Darren Chase has an insurance policy that will only pay for a maximum of 60 days of hospitalization during a year. What provision in his insurance policy would specify this?

Correct Answer
verified

Chris Jones has an insurance policy that pays benefits in cash when he is hospitalized. What type of insurance would this be?

Correct Answer
verified

Group health insurance will cover you but not your immediate family.

Correct Answer
verified
False

Harry Mayhue gets a bad case of the flu and ends up in the hospital for three days. Which part of his basic insurance coverage should help pay for this stay?

Correct Answer
verified

Which health care plan is administered by each state within certain broad federal requirements and guidelines?

Correct Answer
verified

In the U.S., administrative costs consume nearly 11 percent of health care dollars, compared to 1 percent under Canada's socialized system.

Correct Answer
verified

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

Good disability plans pay when you are unable to work at your regular job; poor disability plans pay only when you are unable to work at any job.

Correct AnswerverifiedShow Answer

Medigap insurance, intended to supplement Medicare, is sold and serviced by the federal government.

Correct AnswerverifiedShow Answer

Renee Crowgy's policy includes a $500 deductible and a coinsurance provision requiring her to pay 20 percent thereafter. Her medical bills total $5,500. What amount is she required to pay personally?

Correct AnswerverifiedShow Answer

Health insurance includes:

Correct AnswerverifiedShow Answer

Public opinion polls consistently show that Americans are happy with the nation's health care system.

Correct AnswerverifiedShow Answer

The hospital indemnity policy is a good substitute for basic or major medical protection.

Correct AnswerverifiedShow Answer

Which type of insurance provides for the partial replacement of income lost by employees as a result of an accident or illness?

Correct AnswerverifiedShow Answer

Hospital expense insurance pays part or all of the hospital bills for room, board, and other charges.

Correct AnswerverifiedShow Answer

Most people are more likely to lose their income due to death than due to disability.

Correct AnswerverifiedShow Answer

Group health insurance plans comprise about what percent of all health insurance issued by health and life insurance companies?

Correct AnswerverifiedE

Basic health insurance coverage includes hospital expense insurance, surgical expense insurance, and physician expense insurance.

Correct AnswerverifiedShow Answer

A good health insurance plan should:

Correct AnswerverifiedShow Answer

Unfortunately, most salaried workers in the United States do not participate in Social Security programs.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedD

Darren Chase has an insurance policy that will only pay for a maximum of 60 days of hospitalization during a year. What provision in his insurance policy would specify this?

Correct AnswerverifiedShow Answer

Chris Jones has an insurance policy that pays benefits in cash when he is hospitalized. What type of insurance would this be?

Correct AnswerverifiedShow Answer

Group health insurance will cover you but not your immediate family.

Correct AnswerverifiedFalse

Harry Mayhue gets a bad case of the flu and ends up in the hospital for three days. Which part of his basic insurance coverage should help pay for this stay?

Correct AnswerverifiedShow Answer

Which health care plan is administered by each state within certain broad federal requirements and guidelines?

Correct AnswerverifiedShow Answer

In the U.S., administrative costs consume nearly 11 percent of health care dollars, compared to 1 percent under Canada's socialized system.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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E

Correct Answer
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D

Correct Answer
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False

Correct Answer
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Correct Answer
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