click below
click below
Normal Size Small Size show me how
Insurance Test
| Question | Answer |
|---|---|
| What is insurance premium? | Your monthly payment to your insurer |
| Which term refers to the % of covered medical expenses you are responsible for paying after your deductible is met? | Co-insurance |
| Renters ins cost $20 a month with $1000 deductible. A thief steals $800 TV, what does your insurnance company cover? | $0 |
| Someone smashed Sam's window. What type of auto insurance will help cover the cost of the replacement? | Comprehensive |
| Why might someone get long-term disability insurance even if they have health insurance? | Health covers medical, disability covers lost income |
| Medicaid usually provides insurance for which of the following groups | individuals in low-income households |
| Which statement is true about an employer-sponsored health insurance plan? | Premiums are paid from your paychecks, pre-tax |
| What type of auto insurance are you required to carried in almost every state | Insurance for injury to another person |
| You are 22, very healthy, and only see doctor once yer. What type of health insurance is likely best for you? | A high deductible, low premium plan |
| What is the concept where n insurance company collects premiums from many people to pay the claims of a few? | Risk pooling |
| Lula's dog has an $800 vet bill. Her pet insurance has $1000 deductible nd 75% reimbursement. How much does Lula pay? | Lula pays $800, insurance pays $0. |
| In general, how do insurance companies decide how much to charge for monthly premiums? | They assess risk and charge higher premiums for higher risk |
| Which insurance would be the lowest priority for a single person with no kids, just out of high school? | Life insurance |
| Your health plan has $20 copay for covered prescription with list price of $75. How much do you pay the pharmacy? | $20 |
| A standard renters insurance policy would cover each of the following except | a new window broken by a baseball |
| Which best describes why is meant by a health insurance marketplace? | A website with individual health plans for a state |