CFP MODULE 4 Exam
Verified Exam Questions and Answers Latest update 2026/2027
Question:
1. Events cauign change in cover- marriage
age
divorce
death
disbaility
losing or chaning jobs
reuding number of hours worked
moving even within same state
birth 30 days old
age 26
Age 65 eligible medicare if retire must enroll in part A or face
per penality if covered by group coverage beyong age 65 thne
they dont need
Answer:
Question:
2. HIPAA
Answer:
The Health Insurance Portability and Accountability Act, a
federal law protecting the privacy of patient-specific health
care information and providing the patient with control over
how this information is used and distributed. and elimiated
enrolling in anew employer gourp health insurnac eplan tha
tinclude a pre-exiting clause
stes can be enofrecment of a pre-exisitng meical condition
if an employee was covered by priro empeloyers health in-
surnac plan for a tleast 12 months
fewer than 63 days have elapsed since the loss of coverage
under the prioe employer;s plan
pre exiting contions as any meditcal contion that was diag-
nosed within 6 months before enorlling in enw gorup plan
Question:
3. COBRA continuation
,Answer:
of ebenfits if employee elaves work voluntairly or involduna-
trily aplpies only to core helath insurnace overage
term invol or vol have 18 months of continuon coverage
form dat eof qualifyin even other than gross msiconduct or
converison T
36 month everythign else besides employee meets Social
security deifnition of diabilty 29 months
employee has 60 day sto eelct bcobra beenfits 102%
prmeiums 2 % amin cost
Question:
4. PPACA (Patient Protection and The new health care reform law. This legislation creates a
Affordable Care Act)
number of issues for employers that sponsor group health
plans. Extended dependent coverage for adult children up to
age 26. Elimination of pre-existing condition exclusions for
children. Prohibitions on rescission of health care coverage.
Limits on reimbursing over-the-counter medications. Com-
pliance with nondiscrimination rules for fully-insured plans.
Answer:
rrual ehalth car eprovides comunity helath centers
Question:
5. SHOP (Small Business Health elimiantes rpesciption cost gap in edicate part D
Options Program)
requires essntial helath befits fomr all plans and elimitates
copays for preventive care
Answer:
Question:
Online application to compare health plans
Answer:
Question:
50 or less full-time employees
Answer:
,Question:
Employers with fewer than 25 employees may qualify for
the Small Business Health Care Tax Credit of up to 50% of
premium costs.
Answer:
Question:
Employers with fewer than 25 employees may qualify for
Answer:
the Small Business Health Care Tax Credit of up to 50% of
Question:
Employers with fewer than 25 employees may qualify for
the Small Business Health Care Tax Credit of up to 50% of
premium costs.
Answer:
premium costs.
Question:
6. Medicaid a government insurance program for persons of all ages
Answer:
is a federally initiated program
Question:
whose income and resources are insuflcient to pay for health
car
Answer:
at least partially funded, at the state level.
provide health care coverage to children, pregnant women,
Question:
PPACA created a national Medicaid minimum eligibility level
of 133% of the federal poverty level for nearly all Americans
under age 65.
Answer:
parents, and disabled individuals with low incomes
, Question:
Medicaid coverage may start retroactively for up to three
months before the month of application
Answer:
Question:
Poverty alone does not qualify someone for Medicaid. In
addition to income requirements, individuals need to satisfy
federal and state requirements regarding residency, immi-
gration status, and documentation of U.S. citizenship.
Answer:
Question:
Potential beneficiaries must pass an asset test to be eligible
for Medicaid
Answer:
Question:
Checking and savings account Stocks and bonds Certificates
Answer:
of deposit Real property other than your primary residence
Additional motor vehicles, if you have more than one
Medicaid assets that generally do not count toward Medicaid
eligibility include the following: A primary residence, with
some limitations Personal property and household belong-
ings One motor vehicle Life insurance with a face value under
$1,500 Up to $1,500 in funds set aside for burial Certain
burial arrangements (e.g., pre-need burial agreement
provides coverage for long-term care (LTC)-including nurs-
ing home care-many people are tempted to use this pro-
gram as a way to shift the cost burden of nursing homes to
Question:
Medicaid law includes a provision defining a lookback period
of 60 months for assets transferred to others (usually adult
children) designed to impoverish the donor to become eligi-
ble for Medicaid. If a transfer is made within this 60-month
lookback period, the applican
Verified Exam Questions and Answers Latest update 2026/2027
Question:
1. Events cauign change in cover- marriage
age
divorce
death
disbaility
losing or chaning jobs
reuding number of hours worked
moving even within same state
birth 30 days old
age 26
Age 65 eligible medicare if retire must enroll in part A or face
per penality if covered by group coverage beyong age 65 thne
they dont need
Answer:
Question:
2. HIPAA
Answer:
The Health Insurance Portability and Accountability Act, a
federal law protecting the privacy of patient-specific health
care information and providing the patient with control over
how this information is used and distributed. and elimiated
enrolling in anew employer gourp health insurnac eplan tha
tinclude a pre-exiting clause
stes can be enofrecment of a pre-exisitng meical condition
if an employee was covered by priro empeloyers health in-
surnac plan for a tleast 12 months
fewer than 63 days have elapsed since the loss of coverage
under the prioe employer;s plan
pre exiting contions as any meditcal contion that was diag-
nosed within 6 months before enorlling in enw gorup plan
Question:
3. COBRA continuation
,Answer:
of ebenfits if employee elaves work voluntairly or involduna-
trily aplpies only to core helath insurnace overage
term invol or vol have 18 months of continuon coverage
form dat eof qualifyin even other than gross msiconduct or
converison T
36 month everythign else besides employee meets Social
security deifnition of diabilty 29 months
employee has 60 day sto eelct bcobra beenfits 102%
prmeiums 2 % amin cost
Question:
4. PPACA (Patient Protection and The new health care reform law. This legislation creates a
Affordable Care Act)
number of issues for employers that sponsor group health
plans. Extended dependent coverage for adult children up to
age 26. Elimination of pre-existing condition exclusions for
children. Prohibitions on rescission of health care coverage.
Limits on reimbursing over-the-counter medications. Com-
pliance with nondiscrimination rules for fully-insured plans.
Answer:
rrual ehalth car eprovides comunity helath centers
Question:
5. SHOP (Small Business Health elimiantes rpesciption cost gap in edicate part D
Options Program)
requires essntial helath befits fomr all plans and elimitates
copays for preventive care
Answer:
Question:
Online application to compare health plans
Answer:
Question:
50 or less full-time employees
Answer:
,Question:
Employers with fewer than 25 employees may qualify for
the Small Business Health Care Tax Credit of up to 50% of
premium costs.
Answer:
Question:
Employers with fewer than 25 employees may qualify for
Answer:
the Small Business Health Care Tax Credit of up to 50% of
Question:
Employers with fewer than 25 employees may qualify for
the Small Business Health Care Tax Credit of up to 50% of
premium costs.
Answer:
premium costs.
Question:
6. Medicaid a government insurance program for persons of all ages
Answer:
is a federally initiated program
Question:
whose income and resources are insuflcient to pay for health
car
Answer:
at least partially funded, at the state level.
provide health care coverage to children, pregnant women,
Question:
PPACA created a national Medicaid minimum eligibility level
of 133% of the federal poverty level for nearly all Americans
under age 65.
Answer:
parents, and disabled individuals with low incomes
, Question:
Medicaid coverage may start retroactively for up to three
months before the month of application
Answer:
Question:
Poverty alone does not qualify someone for Medicaid. In
addition to income requirements, individuals need to satisfy
federal and state requirements regarding residency, immi-
gration status, and documentation of U.S. citizenship.
Answer:
Question:
Potential beneficiaries must pass an asset test to be eligible
for Medicaid
Answer:
Question:
Checking and savings account Stocks and bonds Certificates
Answer:
of deposit Real property other than your primary residence
Additional motor vehicles, if you have more than one
Medicaid assets that generally do not count toward Medicaid
eligibility include the following: A primary residence, with
some limitations Personal property and household belong-
ings One motor vehicle Life insurance with a face value under
$1,500 Up to $1,500 in funds set aside for burial Certain
burial arrangements (e.g., pre-need burial agreement
provides coverage for long-term care (LTC)-including nurs-
ing home care-many people are tempted to use this pro-
gram as a way to shift the cost burden of nursing homes to
Question:
Medicaid law includes a provision defining a lookback period
of 60 months for assets transferred to others (usually adult
children) designed to impoverish the donor to become eligi-
ble for Medicaid. If a transfer is made within this 60-month
lookback period, the applican
