Question 1

Tony is 48 years old.He earned the maximum taxable wage base under Social Security annually between the time when he was 26 and when he was 40.At age 40,he dropped out of the workforce to care for children as his wife had a high-paying job.Which statement is true regarding Tony's insured status under Social Security?

Accepted Answer

A)  Tony is fully insured and currently insured.
B)  Tony is fully insured,but not currently insured.
C)  Tony is currently insured,but not fully insured.
D)  Tony is neither fully insured nor is he currently insured.E) A) and C)
F) None of the above

Question 2

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 benefitsE) None of the above
F) B) and C)

Question 3

An important current issue in state workers compensation programs is the overuse of a certain category of pain-killing drugs.These drugs have been associated with drug overdoses and drug addiction.This category of drugs is called

Accepted Answer

A)  hypertension drugs.
B)  statins.
C)  opiates.
D)  beta-blockers.E) A) and B)
F) All of the above

Question 4

Under the Medicare Prescription Drug Program,a coverage gap (also called a "donut hole") exists after the beneficiary and drug plan pay a certain amount for covered drugs.The coverage gap refers to

Accepted Answer

A)  the large,up-front deductible that must be satisfied if the patient has a prescription for a covered brand-name drug.
B)  the temporary gap in coverage that begins when the beneficiary and drug plan pay a certain amount for covered drugs during the year and ends when the catastrophic limit is reached and coverage resumes.
C)  the temporary gap in coverage that begins after beneficiaries reach the lifetime limit on catastrophic drug expenses and ends when a new deductible is met and coverage resumes.
D)  the temporary gap in coverage that begins when prescription benefits terminate for beneficiaries who attain age 68 and resumes when beneficiaries attain age 72.E) C) and D)
F) A) and B)

Question 5

As an alternative to the Original Medicare Plan,beneficiaries can elect to enroll in private health insurance plans that cover all services that the Original Medicare Plan covers except hospice care.These private health insurance plans that are an alternative to the Original Medicare Plan are called

Accepted Answer

A)  Medigap Insurance Programs.
B)  PACE Programs.
C)  Medicare Advantage Plans.
D)  Medicare Prescription Drug Plans.E) A) and D)
F) None of the above

Question 6

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 because of an automobile accident while he was in elementary school.E) None of the above
F) A) and B)

Question 7

Which of the following statements about the financing of OASDI and Medicare is (are) true?
I.There is a maximum taxable wage base for OASDI.
II.There is a maximum taxable wage base for Part A of Medicare.

Accepted Answer

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

Question 8

In addition to most persons over age 65,which of the following persons is (are) eligible for Medicare benefits?
I.Persons under age 65 who have been entitled to Social Security disability benefits for at least 24 months
II.Persons under 65 who need long-term kidney dialysis treatment or a kidney transplant

Accepted Answer

A)  I only
B)  II only
C)  both I and II
D)  neither I nor IIE) C) and D)
F) None of the above

Question 9

Which of the following is a reason that social insurance programs exist?

Accepted Answer

A)  to compete with private insurance programs
B)  to provide a base of economic security
C)  to provide needs-tested benefits to low-income individuals
D)  to reduce involvement of the government in insurance marketsE) A) and D)
F) A) and C)

Question 10

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.E) A) and B)
F) None of the above

Question 11

Beth was injured at work and is eligible to receive workers compensation benefits.All of the following benefits are provided under workers compensation EXCEPT

Accepted Answer

A)  disability income.
B)  retirement benefits for dependents.
C)  rehabilitation benefits.
D)  medical care.E) A) and B)
F) A) and C)

Question 12

All of the following changes would reduce the long-range deficit for the Social Security program EXCEPT

Accepted Answer

A)  increase the OASDI taxable wage base.
B)  delay scheduled increases in the full retirement age.
C)  make all OASDI benefits fully taxable.
D)  use general revenues of the federal government to help pay benefits.E) C) and D)
F) All of the above

Exam 18: Social Insurance

An important current issue in state workers compensation programs is the overuse of a certain category of pain-killing drugs.These drugs have been associated with drug overdoses and drug addiction.This category of drugs is called

Correct Answer
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Correct Answer
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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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Beth was injured at work and is eligible to receive workers compensation benefits.All of the following benefits are provided under workers compensation EXCEPT

Correct Answer
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Which of the following statements about the financing of OASDI and Medicare is (are) true? I.There is a maximum taxable wage base for OASDI. II.There is a maximum taxable wage base for Part A of Medicare.

Correct Answer
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Which of the following is a reason that social insurance programs exist?

Correct Answer
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Under the Medicare Prescription Drug Program,a coverage gap (also called a "donut hole") exists after the beneficiary and drug plan pay a certain amount for covered drugs.The coverage gap refers to

Correct Answer
verified

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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Correct Answer
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All of the following changes would reduce the long-range deficit for the Social Security program EXCEPT

Correct Answer
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As an alternative to the Original Medicare Plan,beneficiaries can elect to enroll in private health insurance plans that cover all services that the Original Medicare Plan covers except hospice care.These private health insurance plans that are an alternative to the Original Medicare Plan are called

Correct Answer
verified

Exam 18: Social Insurance

An important current issue in state workers compensation programs is the overuse of a certain category of pain-killing drugs.These drugs have been associated with drug overdoses and drug addiction.This category of drugs is called

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Beth was injured at work and is eligible to receive workers compensation benefits.All of the following benefits are provided under workers compensation EXCEPT

Correct AnswerverifiedShow Answer

Which of the following statements about the financing of OASDI and Medicare is (are) true? I.There is a maximum taxable wage base for OASDI. II.There is a maximum taxable wage base for Part A of Medicare.

Correct AnswerverifiedShow Answer

Which of the following is a reason that social insurance programs exist?

Correct AnswerverifiedShow Answer

Under the Medicare Prescription Drug Program,a coverage gap (also called a "donut hole") exists after the beneficiary and drug plan pay a certain amount for covered drugs.The coverage gap refers to

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

Correct AnswerverifiedShow Answer

All of the following changes would reduce the long-range deficit for the Social Security program EXCEPT

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Correct AnswerverifiedShow Answer

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