The number of individuals aged 65 and over in the U.S. is expected to double as population aging continues.
True
False
Flag this Question
Question 21 pts
High level of immigration contributed greatly to the aging of the US population.
True
False
Flag this Question
Question 31 pts
The proportion of Hispanics in the US population is expected to increase in the next 40 years.
True
False
Flag this Question
Question 41 pts
The government health coverage program for the elderly and certain people with disabilities is called Medicaid.
True
False
Flag this Question
Question 51 pts
The Affordable Care Act will make every American insured when fully implemented.
True
False
Flag this Question
Question 61 pts
The U.S. health care system is administratively controlled by an agency of the government.
True
False
Flag this Question
Question 71 pts
There are only two general ways to reduce health care costs: either reduce the amount of services consumed or reduce the unit price of some or all of the services provided.
True
False
Flag this Question
Question 81 pts
People buy health insurance so that they can protect themselves against major financial risk associated with getting sick.
True
False
Flag this Question
Question 91 pts
Insurance premium is the amount paid by the insurer to the insured for assuming the finanical risk associated with needing health care.
True
False
Flag this Question
Question 101 pts
In terms of premium determination for health insurance, Obamacare prohibits the use of experience rating.
True
False
Flag this Question
Question 111 pts
Copayment and coinsurance are essentially the same thing.
True
False
Flag this Question
Question 121 pts
Veteran’s Health Administration is a form of publicly financed health care for veterans.
True
False
Flag this Question
Question 131 pts
Social Security (Old-Age Insurance) originally established in 1935 does not include coverage for widows and spouses.
True
False
Flag this Question
Question 141 pts
The current normal retirement age for social security is 65 years.
True
False
Flag this Question
Question 151 pts
Losing his job in the Great Depression, Dr. Frances Townsend advocated for a government pension program that would provide a pension of $200 per month, to every retired citizen age 60 and older, to be spent within 30 days. This created a movement toward a government program for retirees, which eventually helped gaining potilical support for the Social Security program.
True
False
Flag this Question
Question 161 pts
Divored individuals can get spousal social security benefit if they were married long enough.
True
False
Flag this Question
Question 171 pts
Medicare was signed into law in 1965 by President Lyndon B. Johnson.
True
False
Flag this Question
Question 181 pts
Individuals who are low wage earners receive a higher percentage of their pre-retirement earnings in Social Security than high wage earners.
True
False
Flag this Question
Question 191 pts
Vesting periods refer to the length of time an employee must work to accrue non-forfeitable rights to a pension.
True
False
Flag this Question
Question 201 pts
The Defined Benefit retirement plan is the best type of plan for individuals who like to change employers.
True
False
Flag this Question
Question 211 pts
The Pension Benefit Guaranty Corporation is the federal entity which guarantees that all vested employees receive their full retirement benefits if a company goes bankrupt.
True
False
Flag this Question
Question 221 pts
Most public sector pension plans in the U.S. are Defined Contribution plans.
True
False
Flag this Question
Question 231 pts
ETFs are generally actively managed by mutual fund managers.
True
False
Flag this Question
Question 241 pts
Delayed Retirement Credit (DRC) creates incentive for retirees to continue working.
True
False
Flag this Question
Question 251 pts
Workers with the fewest projected retirement resources who may have the greatest need to work into retirement years maybe in poorer health due to their concentration in lower-wage, more physically demanding jobs during their early employment years.
True
False
Flag this Question
Question 261 pts
In Hans Rosling’s “200 years that changed the world” video, which one of the following is NOT true?
There has been a major increase in life expectancy during the past 200 years.
None of the above.
The world average life expectancy used to be 40 years in 1809.
The are still wide disparities in terms of life expectancy and per capita income.
Flag this Question
Question 271 pts
Which one of the following is NOT among the top 3 cause of death in the US (2014)?
Diabetes.
Cancer.
Heart disease.
Lower respiratory disease.
Flag this Question
Question 281 pts
The primary objectives of a healthcare system include all of the following EXCEPT:
Delivering healthcare services that meet established standards of quality
Enabling all citizens to receive healthcare services
Delivering healthcare services using the most current technology, regardless of cost
Delivering healthcare services that are cost-effective
Flag this Question
Question 291 pts
The U.S. healthcare system can best be described as:
Fragmented
All of the above
Expensive
Market-oriented
Flag this Question
Question 301 pts
The primary functions of managed care include all of the following EXCEPT:
Controlling patients’ utilization of services
Setting prices at which providers are paid
Achieving efficiencies
Improving quality
Flag this Question
Question 311 pts
The role of the government in the U.S. healthcare system is:
Major financer
All of the above
Medicare and Medicaid reimbursement rate-setter
Regulator
Flag this Question
Question 321 pts
Which country spends the most in administrative health care costs?
Australia
UK
Germany
United States
Flag this Question
Question 331 pts
What is the meaning of the term ‘Access’?
Availability of services
Ability to get health care when needed
All citizens have health insurance coverage
Employer-based health insurance
Flag this Question
Question 341 pts
The Affordable Care Act (Obamacare) changed which one of the following?
Mandated employees to buy health insurance
None of the above.
Added prescription drug benefit for older adults.
Provided a universal coverage for all citizens
Flag this Question
Question 351 pts
Which one of the following statements about health care finanicing is NOT true?
Financing affects expenditures.
None of the above.
Financing influences management decisions.
Financing influences supply of health services.
Flag this Question
Question 361 pts
The worker-beneficiary ratio for Social Security is expected to reach _____ by 2030.
5
2
4
3
Flag this Question
Question 371 pts
The challenges of population aging on social programs is driven by the following demographic trends EXCEPT?
Rising costs associated with financing health care for Baby Boomers
Dramatic decline in the average age of retirement
Long term declines in fertility rates
Sharply increasing absolute numbers of older persons who will be eligible for Old-Age programs
Flag this Question
Question 381 pts
Which one of the following is NOT traditionally considered as pillars of retirement income?
Social security
Wages/earnings
Savings
Pension
Flag this Question
Question 391 pts
Which one of the following best describes how pension benefits are determined?
length of service
amount of earnings
both a & b
none of the above
Flag this Question
Question 401 pts
Baby Boomers were born during which of the following time periods?
1946-1964
1942-1964
1946-1966
1948-1966
Flag this Question
Question 411 pts
Priscilla and John has been married for 12 years. They are both in their mid-60s. John has been an executive at Verizon for 20 years and is scheduled to retire next month. Based on his past earnings and work history, John will receive $2,400 per month in Social Security benefits. The couple is in the process of finalizing their divorce and it is anticipated that the divorce will be final prior to John’s retirement. Based solely off of John’s earnings, what is Priscilla’s Social Security monthly entitlement?
$2400
$1000
none of the above
$1200
Flag this Question
Question 421 pts
Which of these is NOT an Instrumental Activity of Daily Living (IADL)?
Grocery shopping
Managing medications
Preparing meals
Walking
Flag this Question
Question 431 pts
The Employee Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans. Which of the following is NOT a provision of ERISA?
Stronger pension plan disclosure
Strengthening funding and fiduciary standards
Spousal benefit
Mandatory pension promise
Flag this Question
Question 441 pts
Older adults become more susceptible to get the flu or suffer from pollution as a result of a decline in which of the body systems?
Circulatory system
Nervous system
Digestive system
Respiratory system
Flag this Question
Question 451 pts
Defined Contribution plans are ____________________.
usually adequate to finance retirement
decreasing in use
not portable before vesting.
tax-deferred
Flag this Question
Question 461 pts
What is the earliest age you can begin receiving Social Security retirement benefits?
62
66
60
65
Flag this Question
Question 471 pts
Which of the following is NOT a characteristic that affects population composition?
Immigration
Mortality
Morbidity
Fertility
Flag this Question
Question 481 pts
The reason age 65 was selected as the appropriate retirement age in the 1930’s was ________.
workers’ productivity slows substantially around 65
Otto von Bismark (who invented Social Security) was 65
the average life expectancy was around 65
prolonged illnesses become more apparent around 65
Flag this Question
Question 491 pts
Who receives the greatest portion of Social Security benefits?
Retirees
Widow(er)s
Spouses
Disabled workers
Flag this Question
Question 501 pts
In the video “Retirement Gamble”, which of the following were cited as the main reason many workers were taken advantage of by the mutual fund industry?
lack of choices
gender discrimination
risky investments
hidden fees
