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The Importance of Insurance Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. An employee is injured in a forklift accident. An investigation discovers that the forklift was defective and the manufacturer had issued a recall notice but the employer had not complied with it yet. The employee receives workers' compensation benefits for the injury. What litigation options would give the employee the BEST chance of success?

Question 2 2. Joan is a fourteen-year-old who has not worked a day in her life. Her parents recently died. They both worked. What social insurance benefit is available to her?

Question 3 3. Which of the following individuals is eligible for SSDI benefits?

Question 4 4. Tim cuts his hand at work, requiring bandaging at the first aid station, but he returns to work immediately. He is able to continue coming to work until he resigns because his supervisor was very strict and often yelled. The injury did not inflict any permanent damage. Why is Tim NOT entitled to indemnity benefits?

Question 5 5. Sara is injured at work, and is confined to a bed for a week while she fully recovers. What's the most likely indemnity benefit she will receive?

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Question 6 6. Susie selects a health insurance plan through her employer where she makes a $200 payment in full each month for her health care benefits to remain completely active. This payment is known as:

Question 7 7. How are unemployment compensation benefits related to the economy of a country?

Question 8 8. Identify which of the following is an example of a profile where COBRA may be extended to up to 36 months:

Question 9 9. Which Medicare program provides coverage for prescription drugs?

Question 10 10. Billy received a claim against his health insurance in the mail in the amount of $4,910. This is the first claim against his health insurance for the current calendar year. His deductible is $3,000, his coinsurance is 20%, and his premium is $200. What will Billy end up paying on this claim?

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Question 11 11. What's the best explanation of a workers compensation system?

Question 12 12. Who administers unemployment compensation?

Question 13 13. What law is part of unemployment compensation?

Question 14 14. What do COBRA benefits cost the employee?

Question 15 15. Which of the following is NOT a qualifying event for purposes of COBRA benefits?

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Question 16 16. Which of the following is NOT a requirement for an employee to receive COBRA benefits?

Question 17 17. Revenue used to fund social insurance programs in the United States is generally funded by which of the following?

Question 18 18. Which of the following would be an event that would make a worker qualified for workers' compensation benefits?

Question 19 19. All of the following are social insurance programs in the United States, EXCEPT:

Question 20 20. How is unemployment compensation funded?

Page 5

Question 21 21. Identify which of the following benefited MOST from COBRA:

Question 22 22. Select the statement that is NOT correct regarding unemployment compensation.

Question 23 23. Becky is having foot surgery and lives in a townhouse with four flights of steps. She would like to stay in a long-term care facility for the first couple of weeks following her surgery so as not to be a bother to her family. However, when she inquires about her plans to her health insurance company she is told that the long-term care facility will not be covered for her in this type of situation. This is known as a policy _____.

Question 24 24. Raymond pays for the first $2,600 of covered services himself (out-of-pocket) under his health insurance plan. This $2,600 is a known as a _____.

Question 25 25. A financial agreement for the payment of health-related costs that is made between an individual or a group of individuals and an insurance company is known as _____.

The Importance of Insurance Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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