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
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
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
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, 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
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
