Prior Approval Is Not Typically Necessary for Which of These

question 15

Multiple Choice

Prior approval is not typically necessary for which of these systems?

• A) Fee-for-service (FFS)
• B) Consumer-driven system
• C) Point-of-service plan (POS)
• D) Retrospective payment plan

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Definitions:

Long-term Gain

The profit from the sale of an asset held for more than a year, subject to lower capital gains tax rates.

Investment Portfolio

A collection of assets including stocks, bonds, mutual funds, and other investments held by an individual or an institution.

Recognize

In an accounting context, to recognize is to formally record an item within the financial statements of an entity, acknowledging its existence or occurrence.

Short-term Capital Loss

A loss realized from the sale or exchange of a capital asset held for one year or less, which can be used to offset capital gains for tax purposes.