MGRADES
RMI EXAM UPDATED Exam Questions
and CORRECT Answers
Problems with the health care system in the United States that led to implementation of the
Affordable Care Act included
I. Rising healthcare expenditures
II. Considerable waste and inefficiency in the healthcare system - CORRECT ANSWER -
both I and II
All of the following are historical reasons for the increase in health care expenditures in the U.S.
EXCEPT - CORRECT ANSWER - universal health insurance coverage
Under the Affordable Care Act, which of the following statements are true?
I. Health insurers cannot use pre-existing conditions exclusions.
2. Health insurers cannot impose annual benefit limits and lifetime benefit limits. - CORRECT
ANSWER - both I and II
One provision of the Affordable Care Act is designed to benefit young adults up to age 26. This
provision allows these young adults to - CORRECT ANSWER - remain covered under
their parents' health insurance policies.
Which of the following statements regarding health care expenditures in the United States is
(are) true?
I. As a nation, the U.S. spends significantly more per-person on health care than most other
industrialized nations.
, MGRADES
II. Health care expenditures in the U.S. are high because everyone is covered by a health
insurance plan. - CORRECT ANSWER - I only
Individual medical expense insurance sold in the Health Insurance Marketplace is characterized
by which of the following? - CORRECT ANSWER - no lifetime benefit limits
Prior to passage of the Affordable Care Act, insurers could go back to the date a health insurance
policy became effective and render the policy void due to a clerical error. This practice, which is
prohibited under the Affordable Care Act except in cases of fraud or intentional
misrepresentation of a material fact, is called - CORRECT ANSWER - rescission
Under the Affordable Care Act, if a health insurer does not meet the minimum loss ratio
requirement, the insurer must - CORRECT ANSWER - issue rebates to the people the
insurer covered
Purposes of the coinsurance provision in medical expense insurance policies include which of
the following?
I. to reduce premiums
II. to prevent over utilization of policy benefits - CORRECT ANSWER - both I and II
The effect of an annual out-of-pocket limit in an individual medical expense policy is to -
CORRECT ANSWER - cover 100 percent of eligible medical expenses after an insured
has incurred a specified amount of annual out-of-pocket expenses
All the following are common exclusions in a medical expense insurance policy EXCEPT -
CORRECT ANSWER - surgeons' fees
Which of the following statements about long-term care insurance is (are) true?
RMI EXAM UPDATED Exam Questions
and CORRECT Answers
Problems with the health care system in the United States that led to implementation of the
Affordable Care Act included
I. Rising healthcare expenditures
II. Considerable waste and inefficiency in the healthcare system - CORRECT ANSWER -
both I and II
All of the following are historical reasons for the increase in health care expenditures in the U.S.
EXCEPT - CORRECT ANSWER - universal health insurance coverage
Under the Affordable Care Act, which of the following statements are true?
I. Health insurers cannot use pre-existing conditions exclusions.
2. Health insurers cannot impose annual benefit limits and lifetime benefit limits. - CORRECT
ANSWER - both I and II
One provision of the Affordable Care Act is designed to benefit young adults up to age 26. This
provision allows these young adults to - CORRECT ANSWER - remain covered under
their parents' health insurance policies.
Which of the following statements regarding health care expenditures in the United States is
(are) true?
I. As a nation, the U.S. spends significantly more per-person on health care than most other
industrialized nations.
, MGRADES
II. Health care expenditures in the U.S. are high because everyone is covered by a health
insurance plan. - CORRECT ANSWER - I only
Individual medical expense insurance sold in the Health Insurance Marketplace is characterized
by which of the following? - CORRECT ANSWER - no lifetime benefit limits
Prior to passage of the Affordable Care Act, insurers could go back to the date a health insurance
policy became effective and render the policy void due to a clerical error. This practice, which is
prohibited under the Affordable Care Act except in cases of fraud or intentional
misrepresentation of a material fact, is called - CORRECT ANSWER - rescission
Under the Affordable Care Act, if a health insurer does not meet the minimum loss ratio
requirement, the insurer must - CORRECT ANSWER - issue rebates to the people the
insurer covered
Purposes of the coinsurance provision in medical expense insurance policies include which of
the following?
I. to reduce premiums
II. to prevent over utilization of policy benefits - CORRECT ANSWER - both I and II
The effect of an annual out-of-pocket limit in an individual medical expense policy is to -
CORRECT ANSWER - cover 100 percent of eligible medical expenses after an insured
has incurred a specified amount of annual out-of-pocket expenses
All the following are common exclusions in a medical expense insurance policy EXCEPT -
CORRECT ANSWER - surgeons' fees
Which of the following statements about long-term care insurance is (are) true?
