HCM 416 CHAPTER 2 QUIZ AND ANSWERS VERIFIED
For insurance to "work," it must have these basic characteristics. Select all answers that apply.
a)Nice office building
b) Payment only for random (unforeseen and unexpected) losses
c) Risk transfer
d) Pooling of losses
B,C, & D
*Payment only ...
For insurance to "work," it must have these basic characteristics. Select all
answers that apply.
a)Nice office building
b) Payment only for random (unforeseen and unexpected) losses
c) Risk transfer
d) Pooling of losses
B,C, & D
*Payment only for random (unforeseen and unexpected) losses
*Risk transfer
*Pooling of losses
Which one of these answers, is NOT a problem that arises when dealing with
insurance?
a) Adverse selection
b) Indemnification
c) Moral Hazard
b) Indemification
Select the best choice.
Under the ACA, insurers are required to use ....
, a) Community rating
b) Neighborhood ratings
c) Experience rating
a) Community rating
Please match the Medicare major coverage (Part A, B, C, D) to the best
explanation for them.
Medicare Part A
Medicare Part B
Medicare Part C
Medicare Part D
Part A - Covers hospital and some skilled nursing home coverage
Part B - Covers Physicians Services, ambulatory surgical services, outpatient services,
& certain other misc. services.
Part C - Is often called Medicare advantage.
Part D - Covers prescription drugs.
Under the broad category of fee-for-service (FFS), what are the three main types
of fee-for-service methodologies that were discussed in class? Select all answers
that apply.
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