Personal Finance 13th Edition By E. Thomas Garman – Test Bank

True / False

1. The most obvious health related financial loss is the need for income replacement when one is unable to work.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Explain how the Affordable Care Act works, and how consumers shop and pay for health insurance coverage
QUESTION TYPE: True / False
HAS VARIABLES: False
KEYWORDS: Bloom’s: Understanding
OTHER: Analytic
NOTES: 11.1
DATE CREATED: 10/1/2017 6:52 AM
DATE MODIFIED: 10/1/2017 6:53 AM

2. Less than 50 percent of Americans are covered by some type of private or government health care plan.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: Explain how the Affordable Care Act works, and how consumers shop and pay for health insurance coverage
QUESTION TYPE: True / False
HAS VARIABLES: False
KEYWORDS: Bloom’s: Remembering
OTHER: Analytic
NOTES: 11.1
DATE CREATED: 10/1/2017 6:54 AM
DATE MODIFIED: 10/1/2017 6:54 AM

3. The official name of the 2010 health insurance reform law is Obamacare.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Explain how the Affordable Care Act works, and how consumers shop and pay for health insurance coverage
QUESTION TYPE: True / False
HAS VARIABLES: False
KEYWORDS: Bloom’s: Remembering
OTHER: Analytic
NOTES: 11.1
DATE CREATED: 10/1/2017 6:55 AM
DATE MODIFIED: 10/1/2017 6:56 AM

4. It is becoming increasingly common for health care plans to offer lower rates to persons with a healthy lifestyle.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Explain how the Affordable Care Act works, and how consumers shop and pay for health insurance coverage
QUESTION TYPE: True / False
HAS VARIABLES: False
KEYWORDS: Bloom’s: Understanding
OTHER: Analytic
NOTES: 11.1
DATE CREATED: 10/1/2017 6:57 AM
DATE MODIFIED: 10/1/2017 6:58 AM

5. The United States spends a higher percentage of its gross domestic product than any other country
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Explain how the Affordable Care Act works, and how consumers shop and pay for health insurance coverage
QUESTION TYPE: True / False
HAS VARIABLES: False
KEYWORDS: Bloom’s: Remembering
OTHER: Analytic
NOTES: 11.1
DATE CREATED: 10/1/2017 7:01 AM
DATE MODIFIED: 10/1/2017 7:01 AM

6. Young adults may stay on a parent’s health care plans until age 22 or graduating from college whichever comes first.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: Explain how the Affordable Care Act works, and how consumers shop and pay for health insurance coverage
QUESTION TYPE: True / False
HAS VARIABLES: False
KEYWORDS: Bloom’s: Remembering
OTHER: Analytic
NOTES: 11.1 they may stay on a parent’s plan until age 26 regardless of whether they are in college or not
DATE CREATED: 10/1/2017 7:02 AM
DATE MODIFIED: 10/1/2017 7:02 AM

7. A group health care plan is sold collectively to an entire group of persons rather than individuals.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: Distinguish among the types of health care plans
QUESTION TYPE: True / False
HAS VARIABLES: False
KEYWORDS: Bloom’s: Remembering
OTHER: Analytic
NOTES: 11.2
DATE CREATED: 10/1/2017 7:04 AM
DATE MODIFIED: 10/1/2017 7:04 AM

8. Medicare is the only federal health care program currently in place.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: Distinguish among the types of health care plans
QUESTION TYPE: True / False
HAS VARIABLES: False
KEYWORDS: Bloom’s: Remembering
OTHER: Analytic
NOTES: 11.2 the Medicaid program is are available.
DATE CREATED: 10/1/2017 7:06 AM
DATE MODIFIED: 10/1/2017 7:07 AM

9. Choosing your Medicare plan through a private company that combines Medicare Parts A and B into one plan called a Medicare Advantage plan can broaden health care benefits.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: Distinguish among the types of health care plans
QUESTION TYPE: True / False
HAS VARIABLES: False
KEYWORDS: Bloom’s: Understanding
OTHER: Analytic
NOTES: 11.2
DATE CREATED: 10/1/2017 7:08 AM
DATE MODIFIED: 10/1/2017 7:08 AM

10. Medicare (Part B) requires a monthly premium for coverage.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: Distinguish among the types of health care plans
QUESTION TYPE: True / False
HAS VARIABLES: False
OTHER: Analytic
NOTES: 11.2
DATE CREATED: 10/1/2017 7:09 AM
DATE MODIFIED: 10/1/2017 7:09 AM