FLVS MATH FOR DATA AND FINANCIAL LITERACY EXAM- 06.04
INSURANCE SOLVED #13
A patient is 72 years old and a heart attack survivor. A patient's doctor tests their heart
regularly with an electrocardiogram to ensure their heart has not worsened. The
patient's health insurance policy pays as follows:
Number of testspercent Covered
1-4 65%
5-8 70%
9-12 75%
13-16 80%
> 16 0%
If each test costs $125 and the patient receives 22 tests, what are the patient's out-of-
pocket expense? - correct answer $1,300
Which of the following would most likely reduce the monthly premium a policyholder
pays for automobile insurance?
Buying a minivan
Maintaining an accident-free driving record over time
Paying a speeding ticket
Taking a job with a longer commute by car - correct answer I, II
A homeowner has paid an annual premium of $1,500 for automobile insurance for 8
years, without filing a single claim. The homeowner gets into an accident during bad
weather, and the car valued at $22,500 is totaled. The insurance company pays the
claim for the full value of the car, and the homeowner replaces the car. What is the
difference between the total premiums paid and what the homeowner would pay if they
did not have automobile insurance? - correct answer $10,500
A patient has a choice between four different prescription plans through their health
insurance. The options are:
Option A: $105 monthly premium with a $15 co-pay per prescription
Option B: $100 monthly premium with a $20 co-pay per prescription
Option C: $115 monthly premium with a $10 co-pay per prescriptionoption
D: $110 monthly premium with a $12 co-pay per prescription
Which option is the most expensive if the patient fills 7 prescriptions each month? -
correct answer Option B
INSURANCE SOLVED #13
A patient is 72 years old and a heart attack survivor. A patient's doctor tests their heart
regularly with an electrocardiogram to ensure their heart has not worsened. The
patient's health insurance policy pays as follows:
Number of testspercent Covered
1-4 65%
5-8 70%
9-12 75%
13-16 80%
> 16 0%
If each test costs $125 and the patient receives 22 tests, what are the patient's out-of-
pocket expense? - correct answer $1,300
Which of the following would most likely reduce the monthly premium a policyholder
pays for automobile insurance?
Buying a minivan
Maintaining an accident-free driving record over time
Paying a speeding ticket
Taking a job with a longer commute by car - correct answer I, II
A homeowner has paid an annual premium of $1,500 for automobile insurance for 8
years, without filing a single claim. The homeowner gets into an accident during bad
weather, and the car valued at $22,500 is totaled. The insurance company pays the
claim for the full value of the car, and the homeowner replaces the car. What is the
difference between the total premiums paid and what the homeowner would pay if they
did not have automobile insurance? - correct answer $10,500
A patient has a choice between four different prescription plans through their health
insurance. The options are:
Option A: $105 monthly premium with a $15 co-pay per prescription
Option B: $100 monthly premium with a $20 co-pay per prescription
Option C: $115 monthly premium with a $10 co-pay per prescriptionoption
D: $110 monthly premium with a $12 co-pay per prescription
Which option is the most expensive if the patient fills 7 prescriptions each month? -
correct answer Option B
