EXAMFX Social Insurance Programs

Question 1

Medicare Part A primarily provides coverage for which of the following?

Accepted Answer

Hospital inpatient care

Answer

Medicare Part A is the hospital insurance component that covers inpatient hospital stays, skilled nursing facility care, hospice, and some home health care.

Question 2

At what age does an individual typically become eligible for Medicare coverage?

Accepted Answer

65

Answer

Medicare eligibility generally begins at age 65 for U.S. citizens and permanent residents who meet the work history requirements.

Question 3

Which of the following best describes Medicare Part B?

Accepted Answer

Supplemental medical insurance covering outpatient services

Answer

Medicare Part B is voluntary supplemental medical insurance that covers outpatient services, physician visits, and preventive care, requiring a monthly premium.

Question 4

Medicaid is jointly funded by the federal government and which other entity?

Accepted Answer

State governments

Answer

Medicaid is a joint federal-state program where both the federal government and individual state governments share funding responsibilities.

Question 5

Which Medicare part covers prescription drug benefits?

Accepted Answer

Part D

Answer

Medicare Part D provides outpatient prescription drug coverage and was introduced by the Medicare Modernization Act of 2003, effective 2006.

(EXAMFX) Exam FX Insurance Practice Test

(EXAMFX) Exam FX Insurance Practice Test

EXAMFX Social Insurance Programs