[Exam 34763] The Need for Life Insurance, Medicare & Cafeteria Plans” Examination

A clean-up fund should:

Medicare is a federal health insurance program for all of the following EXCEPT:

The following person is the only one that can change an irrevocable beneficiary:

Under Part A, which of the following statements is CORRECT concerning hospital insurance:

Purchasing term insurance allows the client to obtain a substantial amount of protection at:

The cost of psychiatric treatment outside a hospital for mental, psychoneurotic, and personality disorders is covered. However, co-insurance is:

Double indemnity will pay ___ the basic benefit in the event of loss resulting from specified causes or under specified circumstances.

Under the “Use It or Lose It” rule, all account balances in cafeteria plans must be:

Life insurance written on a child is often referred to as:

The only rule for eligibility in a cafeteria plan is that one can be required to complete more than ___ year(s) of employment in order to participate.

Proper insurance planning requires that a professional insurance agent:

Regarding anti-discrimination, cafeteria plans may not discriminate in favor of:

Currently, the maximum base earnings subject to Medicare is:

At least ___ of those eligible to join a cafeteria plan must be non-highly compensated employees.

Medicare pays for hospital care if the patient meets four (4) conditions. Which of the following is NOT one of the four:

In the beginning, Cafeteria Plans were known as:

Hospice care provides the following benefit periods for a terminally ill patient:

The alternative test of a cafeteria plan requires that at least ___ of the non-highly compensated employees must be covered at all times during the plan year.

The grace period in a life policy is the time beyond the due date you are permitted to:

If the actual cost of a hospital stay is LESS than the DRG payment, the hospital:

The additional premium for Part B benefits is:

If the actual cost of a hospital stay is GREATER than the DRG payment, the hospital:

The “needs” approach to life insurance consists of:

Medicare goes into effect at age 65:

There are currently about ___ diagnosis related groups (DRGs).

As a rule, a surviving spouse is eligible for Social Security benefits until the youngest child reaches age:

Medicare’s annual deductible for hospitalization:

It has been said that the most costly fixed expense in the American household is:

One pair of eyeglasses is provided under Medicare:

If you use permanent insurance to purchase mortgage protection, while the mortgage is decreasing, the permanent insurance:

A Social Security disability beneficiary is covered under Medicare after entitlement to disability benefits for ___ months or more.

So long as an individual pays Social Security taxes for most of their working life, Social Security provides that:

Employers must offer employees age 65 or older the same health benefits offered to younger employees. Therefore, if there is claim under the group policy at work, Medicare will: