WebCE Practice Exam Questions With
Correct Answers
Which medical plan covers doctor visits while the insured is in the
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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
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doctor and surgeon fees. A basic hospital expense policy covers the cost
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of hospitalization, but not physician's fees.
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Upon the lapse or surrender of a permanent life insurance policy, the
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cash value is available to the policyowner in the form of:
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distribution options |
,nonforfeiture options |
surrender options |
settlement options - CORRECT ANSWER✔✔-nonforfeiture options
| | | | |
Nonforfeiture options give policyowners several ways to receive a
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policy's cash value upon lapse or surrender of the policy.
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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
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For a Medicare Part A beneficiary, a benefit period begins on the day of
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admittance to the hospital. That benefit period ends 60 days after
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release from the hospital.
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When received in a lump sum, how are life insurance death benefits
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commonly taxed to the beneficiary? | | | |
,Death benefits from a life insurance policy are generally taxable to the
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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
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following, EXCEPT: |
a sole proprietor
| |
a C corporation's officers
| | |
a partner
|
an S corporation owner who owns more than 2 percent of the
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outstanding shares - CORRECT ANSWER✔✔-a C corporation's officers
| | | | | | |
A pregnant woman marries and is covered by her spouse's employer's
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group health plan. Will the plan cover the child?
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, Yes, after the woman applies for coverage on behalf of the child.
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Yes, from the moment of birth.
| | | | |
No, because the pregnancy was a pre-existing condition.
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No, because dependents must be covered under a separate policy. -
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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 |
Correct Answers
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 |
