Question 1

Which of the following statements concerning Medicare Prescription Drug Plans is (are) true?
I.The monthly premium is based on the health status of the beneficiary and the number of prescriptions the beneficiary needs.
II.After the beneficiary has paid an initial deductible,Medicare pays the entire cost of all prescription drugs the beneficiary needs.

Accepted Answer

A)  I only
B)  II only
C)  both I and II
D)  neither I nor II

Question 2

All of the following statements about workers compensation programs are true EXCEPT

Accepted Answer

A)  They are based on the principle of liability without fault.
B)  Disabled workers are paid for their injuries based on a schedule of benefits established by law.
C)  Options available for complying with the law may include one or more of the following: self-insurance,private insurance,or insurance through a state insurance fund.
D)  Most states have elective laws whereby the employer can choose whether or not to provide workers compensation coverage to employees.

Question 3

As of this year,Brad,age 50,has 40 credits under the Social Security program.These credits were all earned in the last 10 years.What is Brad's insured status under the program?

Accepted Answer

A)  He is currently and fully insured.
B)  He is currently insured,but not fully insured.
C)  He is fully insured,but not currently insured.
D)  He is neither currently insured nor fully insured.

Question 4

All of the following statements about Medicare are true EXCEPT

Accepted Answer

A)  While Social Security old-age benefits are available at age 62,Medicare Part A benefits are not available,in most cases,until age 65.
B)  Medicare covers disabled persons younger than age 65 who have been entitled to Social Security disability benefits for at least 24 months.
C)  An individual who does begin to receive Social Security old-age benefits until age 67 is not eligible for Medicare benefits until age 67.
D)  Beneficiaries must pay a monthly premium for Medicare Part B coverage.

Question 5

All of the following persons are eligible for a benefit under the retirement portion of the Social Security program EXCEPT

Accepted Answer

A)  a divorced spouse,age 55,who was married to the retired worker for 6 years.
B)  a retired worker's 63 year-old spouse who is no longer caring for children.
C)  a retired worker's 52 year-old spouse who is caring for a 12 year-old daughter of the retired worker.
D)  a retired worker's unmarried 20 year-old son who has been severely disabled since an automobile accident while he was in elementary school.

Question 6

Under Part A of Medicare,how is reimbursement for inpatient hospital care determined?

Accepted Answer

A)  The amount billed to Medicare by the hospital is the amount Medicare pays.
B)  Eighty percent of the hospital's regular charge for care is paid.
C)  The hospital's usual,reasonable,and customary charge is paid.
D)  Hospital care is classified into diagnosis-related groups (DRGs) and the amount reimbursed depends on the DRG classification of the care delivered.

Question 7

Prior to the establishment of workers compensation laws,an employer could use all of the following defenses to block an injured worker's claim for benefits EXCEPT

Accepted Answer

A)  the contributory negligence doctrine.
B)  the fellow-servant doctrine.
C)  the employer liability doctrine.
D)  the assumption-of-risk doctrine.

Question 8

Frank is doing some life insurance planning.A financial advisor said,"be sure to consider Social Security when examining sources of funds available for family support if you die." The financial advisor was referring to which Social Security benefit?

Accepted Answer

A)  retirement benefits
B)  survivor benefits
C)  disability benefits
D)  health insurance benefits

Question 9

Which of the following statements about the taxation of Social Security retirement benefits is (are) true?
I.Social Security retirement benefits are never considered taxable income.
II.Up to 85 percent of Social Security retirement benefits may be considered taxable income,depending on the amount of other income received by the beneficiary.

Accepted Answer

A)  I only
B)  II only
C)  both I and II
D)  neither I nor II B

Question 10

Which of the following statements about the coverage of health care services under Part A of Medicare is (are) true?
I.Services in the patient's home are covered if the patient requires skilled care and meets certain conditions.
II.Hospice care is available for beneficiaries with a terminal illness.

Accepted Answer

A)  I only
B)  II only
C)  both I and II
D)  neither I nor II C

Question 11

Which of the following statements about credits (quarters of coverage) under the Social Security program is (are) true?
I.Up to 10 credits can be earned in a single year.
II.A worker receives one credit for each $10,000 of covered wages in a calendar year,regardless of the worker's wages.

Accepted Answer

A)  I only
B)  II only
C)  both I and II
D)  neither I nor II

Question 12

Which of the following statements about disability benefits under Social Security is true?

Accepted Answer

A)  There is a one-year waiting period before benefits are payable.
B)  Benefits are payable as long as the disabled worker is unable to perform his or her regular occupation.
C)  Benefits are payable only if the condition causing the disability is expected to result in death prior to age 65.
D)  In addition to the disabled worker receiving the benefits,benefits can also be paid to eligible dependents.

Question 13

All of the following statements about the Medicare Prescription Drug Plan are true EXCEPT

Accepted Answer

A)  Medicare prescription drug coverage is available to all Medicare beneficiaries.
B)  Medicare prescription drug coverage is funded exclusively through the Part A payroll tax.
C)  Private firms administer the program on a regional basis.
D)  In addition to the initial deductible,there is a coverage gap where the beneficiary must pay the entire cost of prescription drugs.

Question 14

Which of the following statements about unemployment insurance benefits is true?

Accepted Answer

A)  Benefits are a flat amount regardless of a worker's previous wages.
B)  Because of federal legislation,the maximum benefit is the same in all states.
C)  Most states pay regular benefits for a maximum duration of 26 weeks.
D)  Under the extended benefits program,the federal government continues benefit payments for up to 4 years for workers who have exhausted their regular benefits.

Question 15

Current problems and issues with workers compensation include all of the following EXCEPT

Accepted Answer

A)  involvement of lawyers in workers compensation claims
B)  insuring catastrophic loss exposures
C)  reduced benefits for occupational illness
D)  rising medical costs

Question 16

Which of the following statements about the Medicare prescription drug benefit is (are) true?
I.Beneficiaries select a prescription drug plan and pay monthly premiums,with the premium reduced or waived for low-income beneficiaries.
II.The benefit provides first-dollar coverage of prescription drugs up to a maximum of $10,000 per year,but no coverage after $10,000.

Accepted Answer

A)  I only
B)  II only
C)  both I and II
D)  neither I nor II

Question 17

Which of the following statements about the Social Security cost-of-living adjustment is (are) true?
I.The amount of the adjustment is limited to a maximum of 2.5 percent annually.
II.Increases are based on changes in the consumer price index.

Accepted Answer

A)  I only
B)  II only
C)  both I and II
D)  neither I nor II B

Question 18

All of the following statements about the characteristics of social insurance programs are true EXCEPT

Accepted Answer

A)  They are designed to provide a floor of income with respect to the risks which are covered.
B)  The method of determining benefits is prescribed by law.
C)  Participants are required to satisfy a means test to receive benefits.
D)  With few exceptions,social insurance programs are compulsory.

Question 19

Which of the following statements about covered occupations under the Social Security program is true?

Accepted Answer

A)  Employees of private firms are exempt from coverage if they are covered by private pension plans.
B)  Ministers are automatically covered unless they elect out of coverage because of conscience or religious principles.
C)  Self-employed persons are covered only if their net annual earnings are $5,000 or less.
D)  Federal civilian employees hired after 1983 are covered for Medicare only.

Question 20

Marco,a risk manager in California,is interviewing for a new position in the state of Washington.When Marco asked about methods of providing workers compensation,the answer surprised him.In Washington,employers can self-insure the risk or obtain coverage through a state fund.Private insurers do not market workers compensation insurance in Washington.Washington uses a

Accepted Answer

A)  competitive state fund.
B)  guaranty fund.
C)  reinsurance facility.
D)  monopoly state fund.

Exam 18: Social Insurance

Correct Answer
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All of the following statements about workers compensation programs are true EXCEPT

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As of this year,Brad,age 50,has 40 credits under the Social Security program.These credits were all earned in the last 10 years.What is Brad's insured status under the program?

Correct Answer
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All of the following statements about Medicare are true EXCEPT

Correct Answer
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All of the following persons are eligible for a benefit under the retirement portion of the Social Security program EXCEPT

Correct Answer
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Under Part A of Medicare,how is reimbursement for inpatient hospital care determined?

Correct Answer
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Prior to the establishment of workers compensation laws,an employer could use all of the following defenses to block an injured worker's claim for benefits EXCEPT

Correct Answer
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Frank is doing some life insurance planning.A financial advisor said,"be sure to consider Social Security when examining sources of funds available for family support if you die." The financial advisor was referring to which Social Security benefit?

Correct Answer
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Correct Answer
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B

Which of the following statements about the coverage of health care services under Part A of Medicare is (are) true? I.Services in the patient's home are covered if the patient requires skilled care and meets certain conditions. II.Hospice care is available for beneficiaries with a terminal illness.

Correct Answer
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C

Which of the following statements about credits (quarters of coverage) under the Social Security program is (are) true? I.Up to 10 credits can be earned in a single year. II.A worker receives one credit for each $10,000 of covered wages in a calendar year,regardless of the worker's wages.

Correct Answer
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Which of the following statements about disability benefits under Social Security is true?

Correct Answer
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All of the following statements about the Medicare Prescription Drug Plan are true EXCEPT

Correct Answer
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Which of the following statements about unemployment insurance benefits is true?

Correct Answer
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Current problems and issues with workers compensation include all of the following EXCEPT

Correct Answer
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Correct Answer
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Which of the following statements about the Social Security cost-of-living adjustment is (are) true? I.The amount of the adjustment is limited to a maximum of 2.5 percent annually. II.Increases are based on changes in the consumer price index.

Correct Answer
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B

All of the following statements about the characteristics of social insurance programs are true EXCEPT

Correct Answer
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Which of the following statements about covered occupations under the Social Security program is true?

Correct Answer
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Exam 18: Social Insurance

Correct AnswerverifiedShow Answer

All of the following statements about workers compensation programs are true EXCEPT

Correct AnswerverifiedShow Answer

As of this year,Brad,age 50,has 40 credits under the Social Security program.These credits were all earned in the last 10 years.What is Brad's insured status under the program?

Correct AnswerverifiedShow Answer

All of the following statements about Medicare are true EXCEPT

Correct AnswerverifiedShow Answer

All of the following persons are eligible for a benefit under the retirement portion of the Social Security program EXCEPT

Correct AnswerverifiedShow Answer

Under Part A of Medicare,how is reimbursement for inpatient hospital care determined?

Correct AnswerverifiedShow Answer

Prior to the establishment of workers compensation laws,an employer could use all of the following defenses to block an injured worker's claim for benefits EXCEPT

Correct AnswerverifiedShow Answer

Frank is doing some life insurance planning.A financial advisor said,"be sure to consider Social Security when examining sources of funds available for family support if you die." The financial advisor was referring to which Social Security benefit?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedB

Correct AnswerverifiedC

Which of the following statements about credits (quarters of coverage) under the Social Security program is (are) true? I.Up to 10 credits can be earned in a single year. II.A worker receives one credit for each $10,000 of covered wages in a calendar year,regardless of the worker's wages.

Correct AnswerverifiedShow Answer

Which of the following statements about disability benefits under Social Security is true?

Correct AnswerverifiedShow Answer

All of the following statements about the Medicare Prescription Drug Plan are true EXCEPT

Correct AnswerverifiedShow Answer

Which of the following statements about unemployment insurance benefits is true?

Correct AnswerverifiedShow Answer

Current problems and issues with workers compensation include all of the following EXCEPT

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements about the Social Security cost-of-living adjustment is (are) true? I.The amount of the adjustment is limited to a maximum of 2.5 percent annually. II.Increases are based on changes in the consumer price index.

Correct AnswerverifiedB

All of the following statements about the characteristics of social insurance programs are true EXCEPT

Correct AnswerverifiedShow Answer

Which of the following statements about covered occupations under the Social Security program is true?

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Correct AnswerverifiedShow Answer

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B

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C

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B

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