RMIN 2005 Exam 3 Questions and Answers Graded A+

RMIN 2005 Exam 3 Questions and
Answers Graded A+

What does medicare part A cover? - Correct answer-Hospitalization, and its

automatic

What does medicare part B cover - Correct answer-Supplementary medical

insurance, and you can decline

When must people apply for insurance - Correct answer-During the open

enrollment

What is penalty for not enrolling in an individual market place - Correct answer-

Zero penalty

Which form of health insurance does not require a gatekeeper - Correct answer-

PPO

Which form of health insurance is least flexible and most affordable - Correct

answer-HMO

Who is gatekeeper - Correct answer-They approve who you will see



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, What is an advantage of HMO? - Correct answer-Low premium

What are the contributing factor to increase health care cost? - Correct answer-

Medical malpractice, people live longer, state of the art treatment

What is the only true predicable exposure in medical insurance? - Correct answer-

Prescription drugs

What does a consumer driven health account come with? - Correct answer-A high

deductible and you can establish a health savings account

_______ is a peril that is covered with life insurance - Correct answer-Premature

death

Cost of ______ will go up every year - Correct answer-Life insurance

What are the main types of life insurance? - Correct answer-Term, universal, and

whole

What is universal life insurance - Correct answer-Flexible form

Whole life has a saving element called ______ that you can use - Correct answer-

Cash value

How long is incontestability for? - Correct answer-Up to 2 years




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