Problems with the health care system in the United States that led to implementation of the Affordable Care Act included I. Rising healthcare expenditures II. Considerable waste and inefficiency in the healthcare system A) I only B) II only C) both I and II D) neither I nor II ANSWER Answer: C
Date: September 19th, 2020
Under the Affordable Care Act, which of the following statements are true? I. Health insurers cannot use pre-existing conditions exclusions. II. Health insurers cannot impose annual benefit limits and lifetime benefit limits. A) I only B) II only C) both I and II D) neither I nor II ANSWER Answer: C
Date: September 19th, 2020
One provision of the Affordable Care Act is designed to benefit young adults up to age 26. This provision allows these young adults to A) remain covered under their parents’ health insurance policies. B) receive a tax credit for their health insurance premium if they are unemployed. C) receive low-interest government loans to finance their […]
Date: September 19th, 2020
Individual medical expense insurance sold in the Health Insurance Marketplace is characterized by which of the following? A) narrow range of benefits B) no lifetime benefit limits C) no exclusions D) first-dollar coverage ANSWER Answer: B
Date: September 19th, 2020
The Affordable Care Act requires that most U.S. citizens and legal residents have qualifying health insurance or pay a financial penalty. This provision of the Affordable Care Act is known as the A) Health Insurance Marketplace option. B) public option. C) individual mandate. D) premium subsidy option. ANSWER Answer: C
Date: September 19th, 2020
Which of the following is a permissible IRA investment alternative? A) mutual funds B) fine art C) antiques D) life insurance ANSWER Answer: A
Date: September 19th, 2020
Daryl, age 42, quit his job. His employer offered a defined contribution pension plan, and the balance in the account was $30,000 when Daryl quit. He can avoid immediate taxation of these funds by A) taking a lump-sum distribution. B) using an IRA rollover account. C) receiving the money through four equal installments. D) using […]
Date: September 19th, 2020
Rita is 66 years old. She earned $20,000 this year working part-time at a store and her modified adjusted gross income was $28,000. Rita is considering making a $3,000 contribution to her traditional IRA. Which of the following statements is true regarding this contribution? A) Rita cannot contribute to her traditional IRA because she is […]
Date: September 19th, 2020
Donna, age 50, is single and earns $40,000 annually. She is covered under her employer’s retirement plan. Donna would like to start a traditional IRA and contribute $4,000 this year. Which of the following describes her ability to establish a traditional IRA and the tax treatment of her contribution? A) Her contribution is fully tax […]
Date: September 19th, 2020
Which of the following persons can establish a traditional IRA? I. A person whose only income received is from investments. II. A 75 year-old man who has earned taxable income. A) I only B) II only C) both I and II D) neither I nor II ANSWER Answer: D
Date: September 19th, 2020
