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Multiple Choice Quiz
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1
If you have disability insurance, what percentage of your gross income should you aim for in benefits if you become disabled?
A)When added to your other income it should be 100% of your gross income.
B)When added to your other income it should be 60% to 70% of your gross income.
C)When added to your other income it should be 40% to 50% of your gross income.
D)Your benefits alone should be 100% of your gross income.
E)None of the above.
2
John Smith does not have disability insurance through his job. If he is permanently disabled while driving to a family reunion, what is the most likely source of disability income for John?
A)From his employer through a group insurance plan
B)From Social Security
C)From Worker's Compensation
D)From the Veterans Administration
E)From all of the above
3
After Samantha James falls off of her bicycle she needs surgery to fix the compound fracture in her arm. Which type of health insurance is likely to pay for the cost of her surgery after the deductible?
A)Hospital expense insurance
B)Surgical expense insurance
C)Physician expense insurance
D)Hospital indemnity policy
E)None of the above
4
When you have signed a paper that allows your insurance company to make payments to your hospital or doctor this is which of the following provisions of your insurance policy?
A)Assigned benefits
B)Service benefits
C)Benefits limits
D)Coordination of benefits
E)None of the above
5
Your health insurance policy does not cover plastic surgery for cosmetic reasons. Which provision of your health insurance policy would you find this in?
A)Exclusions and limitations
B)Guaranteed renewable
C)Cancellation and termination
D)Internal limits
E)None of the above
6
Rita Wilson is getting a divorce. She has read her husband's health insurance policy carefully and has found that she has the right to continue this health insurance as an individual policy if she wishes. Which provision of the policy would this most likely be found in?
A)Exclusions and limitations
B)Guaranteed renewable
C)Cancellation and termination
D)Internal limits
E)None of the above
7
Which of the following would be a potential trade off in a health insurance policy?
A)You can choose a health insurance plan with internal limits on each service or a plan with aggregate limits that limit the total amount of coverage.
B)You can choose a plan that limits the total of the coinsurance but would probably pay a higher premium for this.
C)You can choose a plan with a lower deductible but would probably pay a higher premium for this.
D)You can choose a reimbursement plan that pays you based on the actual expenses you incur or you can choose an indemnity plan that pays you a specified benefit no matter the actual expenses incurred.
E)All of the above are potential trade offs in a health insurance policy.
8
_______________ pays part or the full amount of the surgeon's fees for an operation. A policy of this kind often lists the types of specific operations and the maximum fee for each.
A)Hospital expense insurance
B)Surgical expense insurance
C)Physician expense insurance
D)Basic health insurance coverage
E)None of the above
9
_______________ is a provision under which both the insured and the insurance company share the covered costs after the deductible.
A)Deductible
B)Coinsurance
C)Copayment
D)Stop-loss provision
E)None of the above
10
A(n) _______________ is a network of selected contracted, participating providers. This is also called a HMO-PPO hybrid or open-ended HMO.
A)Health maintenance organization
B)Preferred provider organization
C)Point of service plan
D)Medicare





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