Sections 4 and 5 Exam Fall 2009
True / False Questions
1. A job tends to have less of a long-term commitment to a field than a career. TRUE
2. A possible opportunity cost associated with career advancement is a need to relocate your household. TRUE
3. Libraries usually have a variety of information sources for career planning and job exploration. TRUE
4.Education, training, and the demands for a person's skills are major influences on salary. TRUE
5. A tax-exempt employee benefit is usually more advantageous than a tax-deferred benefit.
TRUE
6.The purpose of a cover letter is to determine if a company has jobs available.FALSE
7.A telephone interview is reserved for only the finalists in a job search. FALSE
Multiple Choice Questions
8.Compared to a job, a career:
A.is often less financially rewarding.
B.requires minimum training.
C.demands regular updating of knowledge.
D.has limited opportunities for advancement.
9.A(n) ______is an employment position that is obtained mainly to earn money.
A.career
B.job
C.internship
D.apprenticeship
E.cooperative experience
10.A commitment to a profession that requires continued training and offers a clear path for occupational growth is a(n):
A.apprenticeship.
B.job.
C.internship.
D.career.
E.cooperative employment experience.
11.Natural abilities that people possess are:
A.interests.
B.aptitudes.
C.attitudes.
D.survival skills.
E.occupation techniques.
12.The abilities to work well with numbers, possess problem-solving skills, and have physical dexterity are examples of:
A.interests.
B.survival skills.
C.aptitudes.
D.occupational attitudes.
E.on-the-job training.
13.Barb Hotchkins is in the 28 percent tax bracket. A tax-exempt employee benefit with a value of $500 would have a tax-equivalent value of:
A.$694.
B.$528.
C.$500.
D.$360.
E.$140.
14.Tax-deferred employee benefits are
A.not subject to federal income tax.
B.not subject to state income tax.
C.taxed at some future time.
D.are taxed at a special rate.
15.The purpose of a cover letter is to:
A.obtain career planning information.
B.request a reference for a job.
C.develop résumé information.
D.research a career area.
E.apply for a job.
16.An interview designed to reduce the number of candidates for a position to a workable size is a(n) ______interview.
A.screening
B.informational
C.selection
D.contact
E.followup
17.Austin Guess has written his resume and had it checked by his career placement center for errors. He plans on sending it to three companies he has identified as having job openings. Which step in the career planning process is Austin completing?
A.Assess and research personal goals and abilities
B.Evaluate the employment market to identify specific employment opportunities
C.Develop a resume and cover letter to apply for specific positions
D.Interview for specific positions and assess the interview performance
E.Evaluate financial and other factors of positions offered
18.Jason Liang has gotten three job offers. He is now looking at the benefits packages of all three to see what he likes and doesn't like about all three. Which step in the career planning process is Jason completing?
A.Assess and research personal goals and abilities
B.Evaluate the employment market to identify specific employment opportunities
C.Develop a resume and cover letter to apply for specific positions
D.Interview for specific positions and assess the interview performance
E.Evaluate financial and other factors of positions offered
19.Jennifer Drofsab wants to gain some employment experience so when she is ready to start a career she has some things to offer a company. She has decided to work 20 hours a week for a local accounting firm answering the phone and assisting the partners in completing tax returns. Which of the following employment experience strategies is she pursuing?
A.Part-Time Employment
B.Volunteer Work
C.Internship
D.Campus Project
E.Cooperative Education Program
20.Tara Guest wants to gain some needed experience so when she is ready to start a career she has some things to offer a company. She has decided to help the Edmond Historical Society run their booths that explain the part Edmond played in the Oklahoma Land Run for Edmond school children. Which of the following employment experience strategies is she pursuing?
A.Part-Time Employment
B.Volunteer Work
C.Internship
D.Campus Project
E.Cooperative Education Program
21.Lisa Trotter wants to gain some needed experience so when she is ready to start a career she has some things to offer a company. She has decided to help with the homecoming parade for the University of Central Oklahoma where she goes to school full time. Which of the following employment strategies is she pursuing?
A.Part-Time Employment
B.Volunteer Work
C.Internship
D.Campus Project
E.Cooperative Education Program
22.Lori Burroughs wants to gain some needed experience so when she is ready to start a career she has some things to offer a company. She has talked to the career placement center at her university. They tell her she can get a job with a local company for the summer and earn college credit while working. Which of the following employment strategies us she pursuing?
A.Part-Time Employment
B.Volunteer Work
C.Internship
D.Campus Project
E.Cooperative Education Program
True / False Questions
23. The United States has the lowest per capita medical expenditures of any industrialized country in the world.FALSE
24.The best way to avoid the high cost of illness is to stay well.TRUE
25.The number of Americans without basic health insurance has been decreasing since the 1980s. FALSE
9.(p.344)Group health insurance plans comprise about 90 percent of all health insurance issued by health and life insurance companies.
TRUE
10.(p.344)Group health insurance will cover you but not your immediate family.
FALSE
14.(p.345)Very few group health policy contracts have a coordination of benefits provision.
FALSE
16.(p.345)A good health insurance plan should offer basic coverage for hospital and doctor bills.
TRUE
18.(p.346)More people have hospital insurance than any other kind of health insurance.
TRUE
21.(p.346)Basic health insurance coverage includes hospital expense insurance, surgical expense insurance, and physician expense insurance.
TRUE
22.(p.346)A deductible provision requires the policyholder to pay a basic amount before the policy benefits begin.
TRUE
26.(p.346)Physician expense insurance is expensive, therefore, it should be avoided.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-3
27.(p.356)A coinsurance provision requires the policyholder to share the expenses beyond the deductible amount.
TRUE
Bloom's: Comprehension
Difficulty: Easy
Learning Objective: 11-4
28.(p.346)A stop-loss provision requires the policyholder to pay up to a certain amount, after which the insurance company pays 100 percent of all remaining covered expenses.
TRUE
Bloom's: Comprehension
Difficulty: Medium
Learning Objective: 11-4
29.(p.357)Comprehensive major medical insurance is a type of major medical insurance that has a very high deductible amount.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-4
30.(p.347)A hospital indemnity policy pays benefits only when you are hospitalized and only to the hospital where the care was provided.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-3
31.(p.347)The hospital indemnity policy is a good substitute for basic or major medical protection.
FALSE
Bloom's: Comprehension
Difficulty: Medium
Learning Objective: 11-3
32.(p.347)Dread disease and cancer policies are usually very good values.
FALSE
Bloom's: Comprehension
Difficulty: Medium
Learning Objective: 11-3
33.(p.347)Long-term care insurance was virtually unknown 25 years ago, but now it is growing faster than any other form of insurance.
TRUE
Bloom's: Knowledge
Difficulty: Easy
Learning Objective: 11-3
34.(p.354)Blue Cross plans provide for surgical and medical services performed by physicians.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-4
35.(p.354)Blue Shield plans provide hospital care benefits on essentially a "service type" basis.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-4
36.(p.356)Preferred Provider Organizations combine the best elements of the fee-for-service and HMO systems.
TRUE
Bloom's: Comprehension
Difficulty: Easy
Learning Objective: 11-4
37.(p.358)Public opinion polls consistently show that Americans are happy with the nation's health care system.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-5
38.(p.358)Part A of Medicare pays for all covered services for inpatient hospital care after you pay a single annual deductible.
TRUE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-5
39.(p.372)Medigap insurance, intended to supplement Medicare, is sold and serviced by the federal government.
FALSE
Bloom's: Knowledge
Difficulty: Easy
Learning Objective: 11-6
40.(p.361)Medicaid is administered by each state within certain broad federal requirements and guidelines.
TRUE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-5
41.(p.361)Medicare does not cover the expenses of private-duty nursing care.
TRUE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-5
42.(p.358)Two sources of government health insurance are Medicare and Medicaid.
TRUE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-5
43.(p.358)Medicare has two parts: hospital insurance (Part A) and medical insurance (Part B).
TRUE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-5
44.(p.358)Medicare hospital insurance (Part A) is financed from a portion of the Social Security tax.
TRUE
Bloom's: Knowledge
Difficulty: Easy
Learning Objective: 11-5
45.(p.359)To get Medicare medical insurance (Part B) you must sign for it and pay a monthly premium.
TRUE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-5
46.(p.361)Skilled nursing care beyond 100 days per benefit period is approved and covered by Medicare.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-5
47.(p.361)Medicare covers routine checkups, dental care, most immunizations, cosmetic surgery, routine foot care, eyeglasses, and hearing aids.
FALSE
Bloom's: Knowledge
Difficulty: Hard
Learning Objective: 11-5
48.(p.361)Medicare covers the cost of care received outside the United States, Canada, and Mexico.
FALSE
Bloom's: Knowledge
Difficulty: Easy
Learning Objective: 11-5
49.(p.361)Medicare was never intended to pay all medical costs.
TRUE
Bloom's: Comprehension
Difficulty: Medium
Learning Objective: 11-5
50.(p.362)Medicare Supplement insurance is a government-sponsored program.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-5
51.(p.362)Title XIX of the Social Security Act provides for a program of medical assistance to certain low-income individuals and families.
TRUE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-5
52.(p.363)Medicaid is financed by both state and federal funds.
TRUE
Bloom's: Knowledge
Difficulty: Easy
Learning Objective: 11-5
53.(p.363)Very few members of the Medicaid population are also covered by Medicare.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-5
54.(p.363)Medicaid differs from Medicare because eligibility for Medicaid depends on having very low income and assets.
TRUE
Bloom's: Comprehension
Difficulty: Hard
Learning Objective: 11-5
55.(p.363)Because Medicaid coverage is very limited, people using it need to purchase supplemental insurance.
FALSE
Bloom's: Comprehension
Difficulty: Hard
Learning Objective: 11-5
56.(p.364)The Department of Health and Human Services maintains one of the richest and most reliable sources of information on the Internet.
TRUE
Bloom's: Knowledge
Difficulty: Easy
Learning Objective: 11-5
57.(p.365)Disability income insurance benefits provide regular cash income lost by employees as the result of an accident, illness, or pregnancy.
TRUE
Bloom's: Comprehension
Difficulty: Medium
Learning Objective: 11-6
58.(p.372)Once a person is eligible, Medicaid provides more benefits than does Medicare.
TRUE
Bloom's: Knowledge
Difficulty: Hard
Learning Objective: 11-6
59.(p.365)Just about every worker is covered by disability income insurance.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-6
60.(p.366)Basically, the word disability has only one definition.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-6
61.(p.365)Most people are more likely to lose their income due to death than due to disability.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-6
62.(p.366)Good disability plans pay when you are unable to work at your regular job; poor disability plans pay only when you are unable to work at any job.
TRUE
Bloom's: Comprehension
Difficulty: Easy
Learning Objective: 11-6
63.(p.366)Disability benefits begin on the first day you are disabled.
FALSE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-6
64.(p.366)Generally, disability income policies with shorter waiting periods have lower premiums.
FALSE
Bloom's: Comprehension
Difficulty: Medium
Learning Objective: 11-6
65.(p.366)You should seek a disability policy that pays benefits for life.
TRUE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-6
66.(p.367)Look for a disability income policy that waives premiums while you are disabled.
TRUE
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-6
67.(p.367)The premium for noncancelable and guaranteed renewable coverage is higher, but the coverage is well worth the extra cost.
TRUE
Bloom's: Comprehension
Difficulty: Medium
Learning Objective: 11-6
68.(p.367)Very few employers provide disability income protection for their employees through the group insurance plans.
FALSE
Bloom's: Knowledge
Difficulty: Easy
Learning Objective: 11-6
69.(p.367)Unfortunately, most salaried workers in the United States do not participate in the Social Security programs.
FALSE
Bloom's: Knowledge
Difficulty: Easy
Learning Objective: 11-6
Multiple Choice Questions
70.(p.339)What has become one of the most important issues of our time?
A.Affordable health care
B.Affordable housing
C.Affordable automobiles
D.Affordable vacations
Bloom's: Knowledge
Difficulty: Easy
Learning Objective: 11-1
71.(p.339)Which country has the highest per capita medical expenditures of any industrialized country in the world?
A.Australia
B.Britain
C.Canada
D.Denmark
E.U.S.A.
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-1
72.(p.342)Which one(s) of the following groups has (have) undertaken innovative activities to contain the costs of health care?
A.Employers
B.labor unions
C.health insurers
D.Consumers
E.All of the choices have undertaken activities.
Bloom's: Knowledge
Difficulty: Medium
Learning Objective: 11-1
73.(p.342)Which of the following is an innovative way concerned groups are containing health care costs?
A.Incentives to encourage preventive care
B.Encouragement of prepaid group practices
C.Establishment of community education programs so people can learn to take better care of themselves
D.Encouragement by doctors to pay cash for routine medical costs
E.All of the choices are innovative ways concerned groups are containing health care costs
Bloom's: Comprehension
Difficulty: Medium
Learning Objective: 11-1
74.(p.341)What are some possible reasons for high and rising costs of health?
A.the use of sophisticated and high-priced equipment
B.medical personnel who command high earnings
C.innovative but costly treatment for some illnesses
D.the increasing number and longevity of elderly people
E.All are possible reasons for high health care costs
Bloom's: Analysis
Difficulty: Easy
Learning Objective: 11-1