#1
What does EOB stand for in medical insurance?
Explanation of Benefits
Electronic Order of Billing
End of Billing
Excess Out-of-Pocket
#2
What is a common method for submitting medical insurance claims?
Carrier Pigeon
Smoke Signals
Telegraph
Electronic Data Interchange (EDI)
#3
Which of the following is NOT typically covered by medical insurance?
Emergency room visits
Cosmetic surgery
Prescription medications
Routine check-ups
#4
What is a deductible in medical insurance?
The amount the insured must pay out-of-pocket before the insurance company will cover expenses
The total cost of medical services
The premium paid for medical insurance
The amount an insurance company must pay for a claim
#5
Which of the following is an example of a healthcare provider?
Insurance agent
Policyholder
Pharmacist
Claims adjuster
#6
What does the term 'co-payment' mean in medical insurance?
The initial amount the insured must pay before insurance coverage begins
The portion of covered expenses that the insured must pay out-of-pocket
The total amount the insured must pay annually for medical expenses
The amount the insured must pay each time they receive medical services
#7
What is the role of a clearinghouse in medical insurance claim processing?
To deny claims
To process claims on behalf of healthcare providers
To treat patients
To perform surgeries
#8
What is a common reason for claim denials in medical insurance?
Submitting claims too quickly
Submitting claims with inaccurate information
Submitting claims with too much detail
Submitting claims only via mail
#9
What is the purpose of a CMS-1500 form in medical insurance?
To order medication
To request lab tests
To submit healthcare claims
To schedule appointments
#10
What is a common term used to describe the maximum amount an insurer will pay for a covered healthcare service?
Deductible
Out-of-Network Cost
Premium
Allowable Charge
#11
What is a pre-authorization requirement in medical insurance?
A requirement to obtain permission before receiving certain medical services
A requirement to pay for medical services in advance
A requirement to submit claims after receiving medical services
A requirement to file taxes related to medical expenses
#12
In medical insurance, what does the term 'network provider' refer to?
A provider that offers free services
A provider that is not associated with any insurance network
A provider that is part of an insurance company's approved list
A provider that only serves pediatric patients
#13
What does COB stand for in medical insurance?
Code of Benefits
Coordination of Benefits
Cost of Billing
Claim of Benefits
#14
Which entity determines the coverage and reimbursement rules for medical insurance claims?
Pharmaceutical companies
Hospitals
Insurance carriers
Patients
#15
What does DRG stand for in the context of medical insurance?
Durable Resource Group
Diagnostic Recovery Guidelines
Diagnosis-Related Group
Doctor's Reimbursement Grid
#16
Which of the following is a potential consequence of submitting fraudulent medical insurance claims?
Lower premiums
Increased trust from insurance companies
Legal action and penalties
Faster claim processing
#17
What is the role of a utilization review in medical insurance?
To review medical records for accuracy
To review insurance policies for coverage limits
To review medical treatment to ensure it's appropriate and necessary
To review patient feedback regarding healthcare providers
#18
What is the purpose of a medical claim audit?
To ensure patients receive quality care
To identify billing errors and potential fraud
To determine eligibility for insurance coverage
To review medical records for accuracy