Practice Quizzes

Question 1

Medicare is health insurance for people 50 or older and people under 50 with certain disabilities or end stage renal disease.

Answer 1

False

Question 2

Medicare Part A, Hospital Insurance is free (i.e., no monthly premium) to most Americans over 65. However, people must pay for Medicare Parts B, C, and D if they want them.

Answer 2

True

Question 3

Who needs an advance (healthcare) directive?

Answer 3

Every adult

Question 4

If you have an advance (healthcare) directive, your doctors will follow the instructions in the advance directive even if you are conscious and able to communicate that you’ve changed your mind.

Answer 4

False

Question 5

If you don’t have a will, the laws of your state or the states in which you own property are going to determine who gets your property after you die.

Answer 5

True

Question 6

Which of the following is, on average, true as older people age.
a) Their financial literacy decreases, but their confidence in their financial literacy does not decrease.
b) Their financial literacy increases, and their confidence in their financial literacy increases.
c) Their financial literacy decreases, and their confidence in their financial literacy decreases.
d) Their financial literacy increases, but their confidence in their financial literacy does not increase.

Answer 6

a) Their financial literacy decreases, but their confidence in their financial literacy does not decrease.