Exam 1 Review HMGT 3301
UPDATED ACTUAL Questions and CORRECT Answers
Question: what percentage of people are covered by healthcare?
Correct Answer: 90%
Question: what percentage of our GDP does healthcare represent
Correct Answer: 18%
Question: how many people does the healthcare work- force employ?
Correct Answer: 16.4 million
Question: how much of the $3 trillion dollars spent on health- care is considered fraud/waste/abuse of
the system?
Correct Answer: $1 trillion (1/3)
Question: how much does the US spend on healthcare re- search?
Correct Answer: $200 billion
Question: what does the quad-function model incorporate?
Correct Answer: financing, insurance, delivery, payment
Question: what is required to be eligible for Medicare?
Correct Answer: at least 65 years old
Question: who is Medicaid and CHIP for?
Correct Answer: indigent, poor, children (based on NEED)
Question: how many people are in Medicare?
Correct Answer: 50 million (15%)
Question: how many people are in Medicaid?
Correct Answer: about 75 million
, Question: what percentage do not have any health in- surance?
Correct Answer: 10%
Question: how many people turn 65 every day?
Correct Answer: 10,000
Question: what was the main ob- jective of the ACA?
Correct Answer: reduce the number of uninsured
Question: who was the first pres- ident to drive some changes in healthcare?
Correct Answer: Truman
Question: what is premium cost sharing?
Correct Answer: employer's requirement that their employees pay a portion of health insurance cost
Question: what is a downside of a national health sys- tem?
Correct Answer: quality is not reaching high standards
Question: what is the primary means to ensuring ac- cess to healthcare?
Correct Answer: health insurance
Question: what kind of mar- ket partially manages healthcare in the US?
Correct Answer: free market
Question: what is a moral hazard? the idea that if you have insurance, you are probably going to
consume
Correct Answer: more healthcare
Question: what is provider-in- duced demand?
Correct Answer: artificial creation of demand by providers that enables them to deliver unneeded
services to boost their incomes
UPDATED ACTUAL Questions and CORRECT Answers
Question: what percentage of people are covered by healthcare?
Correct Answer: 90%
Question: what percentage of our GDP does healthcare represent
Correct Answer: 18%
Question: how many people does the healthcare work- force employ?
Correct Answer: 16.4 million
Question: how much of the $3 trillion dollars spent on health- care is considered fraud/waste/abuse of
the system?
Correct Answer: $1 trillion (1/3)
Question: how much does the US spend on healthcare re- search?
Correct Answer: $200 billion
Question: what does the quad-function model incorporate?
Correct Answer: financing, insurance, delivery, payment
Question: what is required to be eligible for Medicare?
Correct Answer: at least 65 years old
Question: who is Medicaid and CHIP for?
Correct Answer: indigent, poor, children (based on NEED)
Question: how many people are in Medicare?
Correct Answer: 50 million (15%)
Question: how many people are in Medicaid?
Correct Answer: about 75 million
, Question: what percentage do not have any health in- surance?
Correct Answer: 10%
Question: how many people turn 65 every day?
Correct Answer: 10,000
Question: what was the main ob- jective of the ACA?
Correct Answer: reduce the number of uninsured
Question: who was the first pres- ident to drive some changes in healthcare?
Correct Answer: Truman
Question: what is premium cost sharing?
Correct Answer: employer's requirement that their employees pay a portion of health insurance cost
Question: what is a downside of a national health sys- tem?
Correct Answer: quality is not reaching high standards
Question: what is the primary means to ensuring ac- cess to healthcare?
Correct Answer: health insurance
Question: what kind of mar- ket partially manages healthcare in the US?
Correct Answer: free market
Question: what is a moral hazard? the idea that if you have insurance, you are probably going to
consume
Correct Answer: more healthcare
Question: what is provider-in- duced demand?
Correct Answer: artificial creation of demand by providers that enables them to deliver unneeded
services to boost their incomes
