CCR Insurance Test with all Correct & 100% Verified
Answers| Guaranteed to Pass
insurance ✔Correct Answer--a financial product that provides reimbursement to a person in the
event of a certain type of financial loss
2 types of insurance ✔Correct Answer--health insurance
life insurance
health insurance ✔Correct Answer--Financial product that provides payment for medical services
when people suffer a financial loss as a result of illness or injury
life insurance ✔Correct Answer--An insurance that pays a specific person when policy holder dies
3 sources of health insurance ✔Correct Answer--1. private companies
2. your employer
3. the federal government: medicare and medicaid
medicare ✔Correct Answer--Government sponsored health insurance plan that is funded largely
by taxes most working people pay
*Must be 65 and qualify for social security or disabled individuals
medicaid ✔Correct Answer--Government sponsored program that provides health insurance for
low income individuals
premium ✔Correct Answer--regular payments paid to an insurance company in return for coverage
indemnity plan ✔Correct Answer--Allow participants to seek health care from any qualified
medical provider
managed care plan ✔Correct Answer--Limits to a specific list of providers
medical tourism ✔Correct Answer--When Americans travel overseas for health care treatment that
are less expensive in foreign countries
group plans ✔Correct Answer--Insurance plans that cover a large group of individuals such as
employees at a company - risk is spread across entire pool of group members - everyone pays same
for coverage - cheap and good coverage (what your employers offer you)
preexisting conditions ✔Correct Answer--health conditions that existed before one's insurance
policy was granted
deductibiles ✔Correct Answer--the amount of money a policyholder pays prior to the insurance
company's payment (Example: once you pay your $500 deductible, your insurance company begins
paying for some of the covered expenses)
co-insurance ✔Correct Answer--(aka Co-pay) share of costs for coverage services that the insured
person is required to pay out of pocket (usually 80/20 - people will pay a certain percentage of each
doctor visit and/or prescription)
Answers| Guaranteed to Pass
insurance ✔Correct Answer--a financial product that provides reimbursement to a person in the
event of a certain type of financial loss
2 types of insurance ✔Correct Answer--health insurance
life insurance
health insurance ✔Correct Answer--Financial product that provides payment for medical services
when people suffer a financial loss as a result of illness or injury
life insurance ✔Correct Answer--An insurance that pays a specific person when policy holder dies
3 sources of health insurance ✔Correct Answer--1. private companies
2. your employer
3. the federal government: medicare and medicaid
medicare ✔Correct Answer--Government sponsored health insurance plan that is funded largely
by taxes most working people pay
*Must be 65 and qualify for social security or disabled individuals
medicaid ✔Correct Answer--Government sponsored program that provides health insurance for
low income individuals
premium ✔Correct Answer--regular payments paid to an insurance company in return for coverage
indemnity plan ✔Correct Answer--Allow participants to seek health care from any qualified
medical provider
managed care plan ✔Correct Answer--Limits to a specific list of providers
medical tourism ✔Correct Answer--When Americans travel overseas for health care treatment that
are less expensive in foreign countries
group plans ✔Correct Answer--Insurance plans that cover a large group of individuals such as
employees at a company - risk is spread across entire pool of group members - everyone pays same
for coverage - cheap and good coverage (what your employers offer you)
preexisting conditions ✔Correct Answer--health conditions that existed before one's insurance
policy was granted
deductibiles ✔Correct Answer--the amount of money a policyholder pays prior to the insurance
company's payment (Example: once you pay your $500 deductible, your insurance company begins
paying for some of the covered expenses)
co-insurance ✔Correct Answer--(aka Co-pay) share of costs for coverage services that the insured
person is required to pay out of pocket (usually 80/20 - people will pay a certain percentage of each
doctor visit and/or prescription)
