ISU HDFS 283 QUIZ 9 FALL10

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	Renea Anjel asked her insurance agent which of these is not a cash-value life plan. He said Possible Answers A. whole life. B. universal life. C. term life. D. variable life. E. group universal life. Score: 1/1
2.
	Your medical insurance contains a feature that limits the total dollar amount that you are responsible for paying. This is called a Possible Answers A. limitation provision. B. stop-loss provision. C. contingency limitation provision. D. maximum payment provision. E. none of these
3.
	Upon examining her life insurance policy, Sylvia found the cash value amount to be fixed rather than dependent upon other variables. Sylvia has a ________ insurance policy. Possible Answers A. whole life B. term life C. decreasing term D. variable life E. universal life
4.
	Health insurance that provides payments to the insured in the event that the insured's income is interrupted by illness, sickness, or accident is called ________ insurance. Possible Answers A. accident and sickness B. disability C. income interruption D. unemployment E. worker's comp
5.
	What are the advantages of Term life insurance? Possible Answers A. It allows you to increase your insurance coverage for specific reasons and specific time periods. B. With decreasing Term coverage, your premiums get smaller as you get older. C. It has no investment feature so it costs less than other forms of insurance. D. all of these are correct. E. Both It allows you to increase your insurance coverage for specific reasons and specific time periods and It has no investment feature so it costs less than other forms of insurance are correct.
6.
	If you break your arm during the waiting period, your health care policy will not pay medical expenses. Possible Answers A. True B. False Score: 1/1
7.
	You are considering the need for insurance. You desire a policy that provides permanent protection, has a fixed premium, and provides a fixed death benefit. What type of policy would you purchase? Possible Answers A. term insurance B. fixed premium insurance C. whole life insurance D. universal life insurance E. none of these
8.
	Of the following life policies - term, whole life, universal life, variable life - two have fixed death benefits. Which are they? Possible Answers A. term and variable life B. term and universal life C. term and whole life D. whole life and universal life E. whole life and variable life Score: 1/1
9.
	If you are injured in an accident at work, you should use your group health care coverage for medical expenses. Possible Answers A. True B. False
10.
	A method of determining how much life insurance you require based on funds your family would require to maintain its lifestyle after your death is called the Possible Answers A. earnings multiple approach. B. needs approach. C. cash liquidity approach. D. funds analysis approach. E. none of these Score: 1/1
11.
	Most life insurance settlements are based on the named insured dying from an accidental death. Possible Answers A. True B. False
12.
	Part of risk management is keep the risk yourself or being self insured. What part of a typical health insurance plan represents this risk management strategy that helps to keep the cost of health insurance more affordable? Possible Answers A. The copay and coinsurance. B. The stop-loss provision. C. The deductible. D. Both The copay and coinsurance and The deductible are correct.
13.
	At what point does whole life insurance pay the death benefit? Possible Answers A. when the insured turns 100 years old B. when the maximum stated age is reached by the insured C. upon due proof of death of the insured D. when the cash value equals the death benefit E. either when the insured turns 100 years old, when the maximum stated age is reached by the insured, or upon due proof of death of the insured Score: 1/1
14.
	Billy's occupation is a potentially dangerous one - he is a skydive instructor. His agent pointed out that the monthly premiums will be high. Billy wants a lot of value for his money. He could take advantage of ________ life insurance at this time to save money. Possible Answers A. universal B. variable C. term D. credit E. whole
15.
	With Term life insurance, the death benefit is the face value of the policy. Possible Answers A. True B. False Score: 1/1
16.
	Life insurance buying is a new experience for many people. Which of the following is not a basic consideration when determining life insurance needs? Possible Answers A. whether or not you need life insurance at this time B. the amount of coverage you need now and in the future C. the settlement options. D. the type of life insurance that fits your needs E. shopping around for the best agent and price
17.
	Long-term disability insurance may prevent you from filing for Bankruptcy. Possible Answers A. True B. False Score: 1/1
18.
	Which of the following statements is true about individual healthcare policies versus group healthcare policies? Possible Answers A. You may be required to take a physical exam. B. They tend to be less costly than group plans. C. You may need one as a supplement to your group policy. D. They will exclude most pre-existing conditions. E. All but They tend to be less costly than group plans are correct. Score:
19.
	Sylvester and JoAnn have both been laid off work during the last year and are now very poor. They found out that needy families can receive medical benefits through Medicaid. In addition, JoAnn found out that Medicaid can be used for Possible Answers A. the aged. B. the blind. C. disabled persons. D. Medicare premiums, deductibles, and co-payments. E. all of these
20.
	Sally Heath wants some inexpensive life coverage. She has found out that what she is looking for may be offered at work. This would be Possible Answers A. universal life. B. employer's life. C. renewable term life. D. group term life. E. intermediate term life. Score: 1/1