WEBCE PRACTICE EXAM | QUESTIONS AND ANSWERS | 100%
CORRECT ANSWERS GRADED A+ | LATEST EXAM UPDATE
Which medical plan covers doctor visits while the insured is in the hospital and
physical therapy treatments following release from the hospital?
limited medical policy
basic hospital expense policy
comprehensive major medical insurance
supplementary major medical insurance - CORRECT ANSWER -
comprehensive major medical insurance
A comprehensive major medical plan covers hospital expenses and doctor and
surgeon fees. A basic hospital expense policy covers the cost of hospitalization,
but not physician's fees.
Upon the lapse or surrender of a permanent life insurance policy, the cash value
is available to the policyowner in the form of:
distribution options
nonforfeiture options
surrender options
settlement options - CORRECT ANSWER - nonforfeiture options
Nonforfeiture options give policyowners several ways to receive a policy's cash
value upon lapse or surrender of the policy.
Medicare Part A provides reasonable and medically necessary hospital care for
how long?
,21 days
60 days
30 days
Inpatient hospital care is not covered. - CORRECT ANSWER - 60 days
For a Medicare Part A beneficiary, a benefit period begins on the day of
admittance to the hospital. That benefit period ends 60 days after release from
the hospital.
When received in a lump sum, how are life insurance death benefits commonly
taxed to the beneficiary?
Death benefits from a life insurance policy are generally taxable to the
beneficiary.
Fifty percent of death benefits from a life insurance are taxable to the
beneficiary.
Death benefits from a life insurance policy are generally not taxable to the
beneficiary.
Death benefits from a life insurance policy are received tax deferred. -
CORRECT ANSWER - Death benefits from a life insurance policy are
generally not taxable to the beneficiary.
When received in a lump sum, the death benefits from a life insurance policy
are generally not taxable to the beneficiary.
For tax purposes, the term "self-employed person" includes all of the following,
EXCEPT:
a sole proprietor
a C corporation's officers
,a partner
an S corporation owner who owns more than 2 percent of the outstanding shares
- CORRECT ANSWER - a C corporation's officers
A pregnant woman marries and is covered by her spouse's employer's group
health plan. Will the plan cover the child?
Yes, after the woman applies for coverage on behalf of the child.
Yes, from the moment of birth.
No, because the pregnancy was a pre-existing condition.
No, because dependents must be covered under a separate policy. - CORRECT
ANSWER - Yes, from the moment of birth.
HMOs must provide their subscribers (enrollees) with evidence of coverage,
which must include all the following EXCEPT
the HMO's contact information
a list of all approved medical care providers in the HMO's network
a description of the coverage provided by the plan
an explanation of the capitation arrangement the HMO has with providers in its
network - CORRECT ANSWER - a list of all approved medical care providers
in the HMO's network
On June 1, Sandra submitted proof of her uncle's death and her right as
beneficiary to receive the proceeds of his life insurance policy. A life insurance
policy settlement must take place by:
July 1
June 15
August 1
, December 31 - CORRECT ANSWER - August 1
A policy settlement must take place no later than two months after the date of
receipt of proof of the insured's death and the right of the claimant to the policy
proceeds.
Which of the following types of health insurance covers the cost of medical care
and medical services?
disability income insurance
medical expense insurance
accidental death and dismemberment (AD&D) insurance
Medicare supplement insurance - CORRECT ANSWER - medical expense
insurance
Medicare supplement policies offer private insurance coverage that supports and
enhances the care and services Medicare covers.
Congress amended the Medicaid spend-down rules to eliminate:
spousal abuse
spousal participation
spousal impoverishment
spousal abandonment - CORRECT ANSWER - spousal impoverishment
At one time, requiring Medicaid applicants to reduce their assets often resulted
in the impoverishment of the spouse. Today, spouses are protected from this
unintended consequence.
CORRECT ANSWERS GRADED A+ | LATEST EXAM UPDATE
Which medical plan covers doctor visits while the insured is in the hospital and
physical therapy treatments following release from the hospital?
limited medical policy
basic hospital expense policy
comprehensive major medical insurance
supplementary major medical insurance - CORRECT ANSWER -
comprehensive major medical insurance
A comprehensive major medical plan covers hospital expenses and doctor and
surgeon fees. A basic hospital expense policy covers the cost of hospitalization,
but not physician's fees.
Upon the lapse or surrender of a permanent life insurance policy, the cash value
is available to the policyowner in the form of:
distribution options
nonforfeiture options
surrender options
settlement options - CORRECT ANSWER - nonforfeiture options
Nonforfeiture options give policyowners several ways to receive a policy's cash
value upon lapse or surrender of the policy.
Medicare Part A provides reasonable and medically necessary hospital care for
how long?
,21 days
60 days
30 days
Inpatient hospital care is not covered. - CORRECT ANSWER - 60 days
For a Medicare Part A beneficiary, a benefit period begins on the day of
admittance to the hospital. That benefit period ends 60 days after release from
the hospital.
When received in a lump sum, how are life insurance death benefits commonly
taxed to the beneficiary?
Death benefits from a life insurance policy are generally taxable to the
beneficiary.
Fifty percent of death benefits from a life insurance are taxable to the
beneficiary.
Death benefits from a life insurance policy are generally not taxable to the
beneficiary.
Death benefits from a life insurance policy are received tax deferred. -
CORRECT ANSWER - Death benefits from a life insurance policy are
generally not taxable to the beneficiary.
When received in a lump sum, the death benefits from a life insurance policy
are generally not taxable to the beneficiary.
For tax purposes, the term "self-employed person" includes all of the following,
EXCEPT:
a sole proprietor
a C corporation's officers
,a partner
an S corporation owner who owns more than 2 percent of the outstanding shares
- CORRECT ANSWER - a C corporation's officers
A pregnant woman marries and is covered by her spouse's employer's group
health plan. Will the plan cover the child?
Yes, after the woman applies for coverage on behalf of the child.
Yes, from the moment of birth.
No, because the pregnancy was a pre-existing condition.
No, because dependents must be covered under a separate policy. - CORRECT
ANSWER - Yes, from the moment of birth.
HMOs must provide their subscribers (enrollees) with evidence of coverage,
which must include all the following EXCEPT
the HMO's contact information
a list of all approved medical care providers in the HMO's network
a description of the coverage provided by the plan
an explanation of the capitation arrangement the HMO has with providers in its
network - CORRECT ANSWER - a list of all approved medical care providers
in the HMO's network
On June 1, Sandra submitted proof of her uncle's death and her right as
beneficiary to receive the proceeds of his life insurance policy. A life insurance
policy settlement must take place by:
July 1
June 15
August 1
, December 31 - CORRECT ANSWER - August 1
A policy settlement must take place no later than two months after the date of
receipt of proof of the insured's death and the right of the claimant to the policy
proceeds.
Which of the following types of health insurance covers the cost of medical care
and medical services?
disability income insurance
medical expense insurance
accidental death and dismemberment (AD&D) insurance
Medicare supplement insurance - CORRECT ANSWER - medical expense
insurance
Medicare supplement policies offer private insurance coverage that supports and
enhances the care and services Medicare covers.
Congress amended the Medicaid spend-down rules to eliminate:
spousal abuse
spousal participation
spousal impoverishment
spousal abandonment - CORRECT ANSWER - spousal impoverishment
At one time, requiring Medicaid applicants to reduce their assets often resulted
in the impoverishment of the spouse. Today, spouses are protected from this
unintended consequence.
