While Using the Needs Analysis Approach to Determine How Much

question 8

Multiple Choice

While using the needs analysis approach to determine how much life insurance to purchase, you should:

• A) add the financial resources that will be available after your death to your family's total economic needs.
• B) multiply your gross annual earnings by the size of your family.
• C) purchase the equivalent of your current annual income.
• D) divide your gross annual earnings by the size of your family.
• E) deduct the financial resources that will be available after your death from your family's total economic needs.

Understand the advantages of using an Electronic Claims Tracking (ECT) system.

Distinguish between different forms (CMS-1450, CMS-1500) and their specific uses in the healthcare industry.

Comprehend the fees associated with using a clearinghouse for claims processing.

Familiarize with the terminology related to healthcare payment models, including third-party reimbursement.

---

Definitions:

Embryo Development

The process by which an embryo forms and develops, from fertilization to the fetus stage.

Diploid

A cell or organism that has two sets of chromosomes, one from each parent.

Bath Sponges

Natural or synthetic sponges used for cleansing the body; natural ones are harvested from the ocean and belong to a simple, multicellular organism group.

Silica

A hard, unreactive, colorless compound that occurs as the mineral quartz and as a principal constituent of sandstone and other rocks.