,10/22/24, 8:51 AM CEBS - GBA 2 LATEST 2024 Exam 200+ QUESTIONS AND CORRECT ANSWERS|COMPLETE EXAM(VERIFIED ANSWERS) F…
Which of the following are h) a, c, and e
distinguishing
characterstics that make NOTES:
health care unique? (b) is incorrect because it is not easy to judge the
a) Often only a few quality and cost of competing services, even with
providers of a particular tools to help facilitate comparison.
service exist in a given
area. (d) is incorrect because full payment to the provider is
b) It is easy to judge the typically made by the health care insurer.
quality and cost of
competing services with
new tools that facilitate
comparison.
c) The decision about
which services to
purchase is usually made
by a physician or other
clinician.
d) Full payment to the
provider is made by the
consumer rather than a
health care insurer.
e) 3rd-party health
insurance for most
individuals is paid for or
subsidized by employers
or government agencies,
insulating patients from
health care costs.
f) all of the above
g) a and b only
h) a, c, and e
i) a, b, c, and d, but not e
, 10/22/24, 8:51 AM CEBS - GBA 2 LATEST 2024 Exam 200+ QUESTIONS AND CORRECT ANSWERS|COMPLETE EXAM(VERIFIED ANSWERS) F…
1) Pooling of losses
What are the 4 distinct
2) Payment only for random losses
characteristics of
3) Risk transfer
insurance?
4) Indemnification
According to the law of 1) The sharing of losses by the entire group
numbers, pooling implies 2) The prediction of future losses with some accuracy.
what 2 things?
A __________ loss is one that is random
unforseen and
unexpected and occurs as
a result of chance.
What is the sole exception self-insurance
to the element of risk
transfer, assuming the risk
itself rather than an
insurance company?
_____________________ restores indemnification
the individual to their
preexisting state had the
loss not occurred.
________________ occurs Adverse selection
because individuals and
businesses are more likely
to have claims, and more
inclined to purchase
insurance, than those who
are less likely to have
claims.
True or False: Adverse False: Adverse selection, if unchecked, will lead
selection, if unchecked, toward more sick individuals seeking insurance,
will lead toward more driving up insurance premiums, and then even fewer
healthy individuals seeking healthy individuals will purchase, continuing the spiral
insurance and lowering of higher costs.
premiums.
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