1. __________ is the government program that provides health insurance to individuals who are 65 years of age or older.
a) Medicaid
b) Medicare
c) HMO
d) Blue Cross and Blue Shield

2. If a person is diabetic and is applying for a new health care insurance policy, they might not receive adequate coverage due to which of the following?
a) Cancellation options
b) Stop loss provision
c) Preexisting conditions
d) Deductible

3. The least expensive form of life insurance is
a) Term
b) Whole life
c) Universal life
d) Variable life

4. A disadvantage of whole life policies is that
a) The premiums are not predictable
b) They are much more expensive than term policies
c) The face value of the policy can change over time
d) The cash value is frozen and not available to policyholders

5. Which type of life insurance allows the policyholder to make his own individual investment decisions?
a) Whole life
b) Group life
c) Variable life
d) Term life

6. Your life insurance premiums normally are the lowest if you pay the insurance company
a) Daily
b) Monthly
c) Quarterly
d) Yearly

7. Life insurance proceeds are generally not taxable to the
a) Insured
b) Beneficiary
c) Administrator
d) Underwriter

True/False Questions

8. Using more credit than can be repaid is a primary cause of individual bankruptcies.
True/False

9. Historical credit problems normally remain on a credit bureau's report for seven years and ten years for bankruptcy.
True/False

10. The longer you maintain relationships with creditors, the lower will be your credit score.
True/False

11. Buying a home may be the single biggest investment you will ever make.
True/False

12. There are a number of different mortgage types to choose from to finance a home or condominium, such as fixed or variable loans with 15 or 30 years repayment periods.
True/False

13. Life insurance is an indication of good financial planning, since it provides a payment to the policy owner upon his or her death.
True/False

14. In the context of insurance, the term liability is used to mean that you may be required to pay someone for damages that you caused.
True/False

15. The most popular forms of insurance for individuals are property and casualty, life insurance, and health insurance.
True/False

16. Technological advances in medical treatment are helping to keep the cost of health care from escalating further.
True/False

17. Basic health insurance policies and Medicare will cover long term extended stays in nursing homes or assisted living centers.
True/False