NY ACCIDENT AND HEALTH 17-52
COMPLETE QUESTIONS AND ANSWERS
1. If an insurance company obtains an investigative consumer report on a
prospective insured , it MUST inform the prospect that it is permitted to do
so under which of the following Federal laws ?: The Fair Credit Reporting Act
2. What is the Fair Credit Reporting Act?: established procedures that
consumer-reporting agencies must follow in order to ensure that records are
confidential, accurate, relevant, and properly used
3. Obtaining consumer information reports under false pretenses is
prosecutable by which of the following?: Fair Credit Reporting Act
4. When requesting a consumer report on a applicant, from whom must
their insurer obtain consent?: The applicant
5. How many years must credit information be retained?: 7 years
6. What is the Gramm-Leach-Bliley Act?: Establishes rules for financial
institutions on privacy notices that must be sent to consumers informing what
information is collected, how it's shared and used, and how it is protected.
7. Which federal law requires financial institutions to provide the consumer
with information on how personal information is used?: Gramm-Leach-
Bliley Act
8. Which was NOT established under the Patient Protection and Affordable
Care Act (ACA)?: High deductible health plans (HDHP) (HDHP is established
by the IRS and not the ACA)
9. Which insurance plans are commonly offered through the worksite
(employer sponsored)?: Medicare (offered by the federal government)
10. The benefits paid by Medicare are most similar to?: Major medical
11. How long after being entitled to social security benefits will an individual
be eligible to receive Medicare benefits?: 2 years
12. All the following can be used to qualify for Medicare Parts A and B EX-
CEPT: financial need
13. Medicare?: A federal program of health insurance for persons 65 years of age
and older, people who have be entitled for social security disability, or people
who have permanent kidney failure etc...
14. What is the primary qualifier for Medicare?: Age
15. What is the primary qualifier for Medicaid?: Financial need
16. What is Medicare part B?: medical insurance that covers outpatient medical
services; services from doctors and other health care providers, home health
care, medical equipment
1/8
, NY ACCIDENT AND HEALTH 17-52
17. Which statement regarding Medicare is FLASE?: Part A paid for following
your retirement
18. What is Medicare part A?: hospital insurance; inpatient hospital stays, care in
skilled nursing facility, hospice care, and some home health care.
19 Under the Medicare Part B home health care benefit, all of the following
are eligible expenses EXCEPT: blood transfusions
20. Under Medicare supplement Policy, preexisting conditions CANNOT be
excluded after how many months from the effective date of the policy?: 6
months
21. Which of the following plans can be purchased to provide coverage in
place of Medicare Parts A and B combined?: Medicare Advantage (part C) 22.
Which part of Medicare is also known as Medicare Advantage?: Part C
23. What part of Medicare covers prescription drugs?: Part D
24. Which of the following is the most common method to supplement
Medicare coverage: Coverage offered by private insurers
25. A woman is diagnosed with Alzheimer's 3 months before she applies for
a Medicare Supplement policy. Can her condition be excluded under her
MSP?: Yes, but her condition will be covered after 6 months
26. What is the primary purpose of a Medicare Supplement policy (MSP)?: to
pay for many of the medical expenses that Medicare coverage does not. (Fill
in the gaps in Medicare)
27. What is the purpose of a Medicare Supplement policy (MSP)?: pay for
medical expenses not covered by Medicare. (Fill in coverage holes)
28. Which statement concerning Medicare Supplement policies (MSP) is
FLASE?: They eliminate the need to purchase PART B OF Medicare.
29. What is the primary purpose of a Medicare Supplement Policy?: To fill in
the gaps of Medicare
30. A preexisting condition under a Medicare Supplement policy must have
occurred and/or been treated within how many months of the effective
date of the MSP?: 6 months
31. Medicare Supplement policies can exclude coverage on preexisting
conditions for up to how many months?: 6 months
32. In comparing Medicare Supplement policies(MSP), what is the difference
between Plan A and Plan G?: Plan G offers more benefits
33. What is a required feature of a Medicare Supplement Policy?: basic core
benefits
2/8
COMPLETE QUESTIONS AND ANSWERS
1. If an insurance company obtains an investigative consumer report on a
prospective insured , it MUST inform the prospect that it is permitted to do
so under which of the following Federal laws ?: The Fair Credit Reporting Act
2. What is the Fair Credit Reporting Act?: established procedures that
consumer-reporting agencies must follow in order to ensure that records are
confidential, accurate, relevant, and properly used
3. Obtaining consumer information reports under false pretenses is
prosecutable by which of the following?: Fair Credit Reporting Act
4. When requesting a consumer report on a applicant, from whom must
their insurer obtain consent?: The applicant
5. How many years must credit information be retained?: 7 years
6. What is the Gramm-Leach-Bliley Act?: Establishes rules for financial
institutions on privacy notices that must be sent to consumers informing what
information is collected, how it's shared and used, and how it is protected.
7. Which federal law requires financial institutions to provide the consumer
with information on how personal information is used?: Gramm-Leach-
Bliley Act
8. Which was NOT established under the Patient Protection and Affordable
Care Act (ACA)?: High deductible health plans (HDHP) (HDHP is established
by the IRS and not the ACA)
9. Which insurance plans are commonly offered through the worksite
(employer sponsored)?: Medicare (offered by the federal government)
10. The benefits paid by Medicare are most similar to?: Major medical
11. How long after being entitled to social security benefits will an individual
be eligible to receive Medicare benefits?: 2 years
12. All the following can be used to qualify for Medicare Parts A and B EX-
CEPT: financial need
13. Medicare?: A federal program of health insurance for persons 65 years of age
and older, people who have be entitled for social security disability, or people
who have permanent kidney failure etc...
14. What is the primary qualifier for Medicare?: Age
15. What is the primary qualifier for Medicaid?: Financial need
16. What is Medicare part B?: medical insurance that covers outpatient medical
services; services from doctors and other health care providers, home health
care, medical equipment
1/8
, NY ACCIDENT AND HEALTH 17-52
17. Which statement regarding Medicare is FLASE?: Part A paid for following
your retirement
18. What is Medicare part A?: hospital insurance; inpatient hospital stays, care in
skilled nursing facility, hospice care, and some home health care.
19 Under the Medicare Part B home health care benefit, all of the following
are eligible expenses EXCEPT: blood transfusions
20. Under Medicare supplement Policy, preexisting conditions CANNOT be
excluded after how many months from the effective date of the policy?: 6
months
21. Which of the following plans can be purchased to provide coverage in
place of Medicare Parts A and B combined?: Medicare Advantage (part C) 22.
Which part of Medicare is also known as Medicare Advantage?: Part C
23. What part of Medicare covers prescription drugs?: Part D
24. Which of the following is the most common method to supplement
Medicare coverage: Coverage offered by private insurers
25. A woman is diagnosed with Alzheimer's 3 months before she applies for
a Medicare Supplement policy. Can her condition be excluded under her
MSP?: Yes, but her condition will be covered after 6 months
26. What is the primary purpose of a Medicare Supplement policy (MSP)?: to
pay for many of the medical expenses that Medicare coverage does not. (Fill
in the gaps in Medicare)
27. What is the purpose of a Medicare Supplement policy (MSP)?: pay for
medical expenses not covered by Medicare. (Fill in coverage holes)
28. Which statement concerning Medicare Supplement policies (MSP) is
FLASE?: They eliminate the need to purchase PART B OF Medicare.
29. What is the primary purpose of a Medicare Supplement Policy?: To fill in
the gaps of Medicare
30. A preexisting condition under a Medicare Supplement policy must have
occurred and/or been treated within how many months of the effective
date of the MSP?: 6 months
31. Medicare Supplement policies can exclude coverage on preexisting
conditions for up to how many months?: 6 months
32. In comparing Medicare Supplement policies(MSP), what is the difference
between Plan A and Plan G?: Plan G offers more benefits
33. What is a required feature of a Medicare Supplement Policy?: basic core
benefits
2/8
