TYPES OF INSURANCE STUDY GUIDE QUIZ
Authored by KHANYA SIGWELA
Business
12th Grade
Used 1+ times
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43 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of "Premium" in health insurance? The monthly fee you pay to have _________?
health insurance
a gym membership
car insurance
a credit card
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of 'Deductible' in health insurance? The amount you must pay out-of-pocket before your insurance starts covering _________.
expenses
premiums
deductions
taxes
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of "Copayment (Copay)" in health insurance? A fixed fee you pay for medical services after meeting your _________.
deductible
premium
coverage
network
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of "Coinsurance" in health insurance? A percentage of costs you pay after reaching your _________?
deductible
premium
copayment
out-of-pocket maximum
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of "Out-of-Pocket Maximum" in health insurance? The most you pay in a year before your insurance covers 100% of your _________?
costs
deductibles
premiums
co-payments
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of 'Actuarial Value' in health insurance? The percentage of total average costs your insurance will _________?
cover
increase
delay
ignore
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of "Catastrophic Plan" in health insurance? A low-premium plan for people under 30 or with financial hardship. It covers serious illness or injury, not ________ care.
routine
emergency
specialty
preventive
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