#1
Which of the following is a common feature of Health Insurance Policy Administration?
Processing claims
Baking cookies
Building bridges
Writing novels
#2
What does the term 'deductible' mean in the context of health insurance?
The amount the insured pays for covered healthcare services before the insurance plan starts to pay
The cost of insurance premiums
A type of medical procedure
The maximum amount a policyholder can claim
#3
In health insurance, what is the 'grace period' referring to?
The time a policyholder has to review the policy after purchase
The period during which the insured can receive treatment without coverage
A period of extended coverage after the policy expires
The time allowed for premium payment after the due date
#4
What is 'coinsurance' in health insurance?
The amount the insured pays before the insurance plan starts to pay
The percentage of costs shared between the insured and the insurer
The maximum amount the insured can claim
The cost of insurance premiums
#5
What is the 'grace period' in health insurance referring to?
A period during which the insured can receive treatment without coverage
The time allowed for premium payment after the due date
A period of extended coverage after the policy expires
The time a policyholder has to review the policy after purchase
#6
What is the primary purpose of underwriting in health insurance?
To design marketing strategies
To evaluate risks and set premiums
To perform medical procedures
To train customer service representatives
#7
Which government agency in the United States oversees health insurance regulations?
Federal Reserve
Environmental Protection Agency (EPA)
Centers for Medicare & Medicaid Services (CMS)
Department of Agriculture
#8
Which type of health insurance plan typically allows policyholders to see any healthcare provider, with or without a referral?
Health Maintenance Organization (HMO)
Preferred Provider Organization (PPO)
Exclusive Provider Organization (EPO)
Point of Service (POS)
#9
What is the role of a Health Insurance Broker?
To perform medical surgeries
To connect individuals with insurance plans and help them navigate options
To manage hospital finances
To write health insurance policies
#10
What is 'COBRA' in the context of health insurance?
A venomous snake
A federal law allowing continuation of health coverage after job loss
A type of health insurance premium
A medical treatment procedure
#11
What does 'adverse selection' mean in health insurance?
Choosing a health insurance plan with the best coverage
The tendency for unhealthy individuals to seek insurance more than healthy individuals
The process of filing a claim
A medical condition excluded from coverage
#12
What is the purpose of a copayment in health insurance?
To discourage individuals from seeking medical care
To cover the entire cost of medical services
To share the cost of medical expenses between the insured and the insurer
To fund medical research
#13
In health insurance, what does the term 'exclusion' refer to?
A policyholder's refusal to use medical services
A medical condition not covered by the policy
The inclusion of all possible medical treatments
A type of insurance premium
#14
Which of the following is NOT typically covered in a basic health insurance plan?
Hospitalization expenses
Prescription drugs
Cosmetic surgery
Preventive care
#15
What is the purpose of a Health Savings Account (HSA) in the context of health insurance?
To fund medical research
To accumulate tax-free funds for medical expenses
To pay insurance premiums
To regulate insurance policies
#16
What is the purpose of the 'Explanation of Benefits' (EOB) in health insurance?
To explain policy exclusions
To clarify the benefits provided by the insurance plan
To outline the cost of medical services
To summarize the insured's medical history
#17
Which government program provides health insurance for individuals aged 65 and older in the United States?
Medicaid
Children's Health Insurance Program (CHIP)
Social Security
Medicare