NURSING EXAMS
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NURSE WISEMAN 2026/2027 MEDICINE
,HAN 300 final Nurse Practitioners
Review Exam (Latest 2026/ 2027
Update) 100% Verified Questions &
Answers | Grade A+
General concepts of insurance - Answer
Answer Insurance
protects against risk
Risk
the possibility of substantial financial loss from some
event, where
probability of occurrence is small
Underwriting
evaluation, selection (or rejection), classification, and
rating of risk
Four principles of insurance - Answer
Answer 1) Risk is unpredictable
2) Risk can be predicted with some accuracy in a large
group
,3) Insurance can transfer risk from the individual to group
through pooling of resources
4) Losses are shared by all members
beneficiary - Answer Answer
the insured
premium - Answer Answer
amount charged to insurer to insure against
risk
employer-employee cost sharing
risk rating - Answer Answer
Experience rating - premiums can be
unaffordable for high-risk groups
Community rating - good risks subsidize poor risks
Adjusted community rating - overcomes some of the
above drawbacks (*required by the ACA*)
, cost sharing - Answer Answer
types:
deductible
copayment
coinsurance
why? reduces moral hazard. impacts lowering utilization
without significant health consequences
deductible - Answer Answer
Amount the insured pays first before
benefits are paid by the plan
Applied annually
copayment - Answer Answer
flat amount paid per service
coinsurance - Answer Answer
set proportion of medical costs
• Nursing Exam Prep Made Easy — Get
Your Documents Today!
NURSE WISEMAN 2026/2027 MEDICINE
,HAN 300 final Nurse Practitioners
Review Exam (Latest 2026/ 2027
Update) 100% Verified Questions &
Answers | Grade A+
General concepts of insurance - Answer
Answer Insurance
protects against risk
Risk
the possibility of substantial financial loss from some
event, where
probability of occurrence is small
Underwriting
evaluation, selection (or rejection), classification, and
rating of risk
Four principles of insurance - Answer
Answer 1) Risk is unpredictable
2) Risk can be predicted with some accuracy in a large
group
,3) Insurance can transfer risk from the individual to group
through pooling of resources
4) Losses are shared by all members
beneficiary - Answer Answer
the insured
premium - Answer Answer
amount charged to insurer to insure against
risk
employer-employee cost sharing
risk rating - Answer Answer
Experience rating - premiums can be
unaffordable for high-risk groups
Community rating - good risks subsidize poor risks
Adjusted community rating - overcomes some of the
above drawbacks (*required by the ACA*)
, cost sharing - Answer Answer
types:
deductible
copayment
coinsurance
why? reduces moral hazard. impacts lowering utilization
without significant health consequences
deductible - Answer Answer
Amount the insured pays first before
benefits are paid by the plan
Applied annually
copayment - Answer Answer
flat amount paid per service
coinsurance - Answer Answer
set proportion of medical costs
