NEW Study Guide

This Study Guide has been prepared to enhance your learning experience. It contains all of the Check-In questions, Knowledge Checks, and Self-Quizzes contained within the course, along with an Answer Key and Glossary. Use it as a tool to help practice and assess your knowledge of the course material, but do not mistake it for a comprehensive “short-cut” to preparing for the final exam.

Be sure to take a look at the Appendix that follows the Answer Key in this Study Guide. It contains valuable suggestions for test preparation and study techniques, as well as some sample exam questions and a glossary of terms.

Your path to success in passing the final exam will come from your attentiveness during the course and the effort you put into preparation.

Study Set

Use this study set to review digital flashcards and play interactive vocabulary games for the insurance & risk management terms found in the glossary of this course!

Review Game

Use this trivia-style review game to test your knowledge prior to taking the final exam for this course! 

Section 1: Circumstances for Buying Life Insurance

This video outlines the various reasons why people decide to buy life insurance.

Section 1: Underwriting Concerns

This video illustrates the concept of risk assessment, and factors that may be of concern when underwriting a Life Insurance policy.  

Section 1: Life Insurance Ratings

While there are many circumstances to consider, the video provides one example of a scenario that may affect one’s life insurance rating.  In other words, how they are classified by insurers to determine how much life insurance premiums will be.  

Section 2: Term Life Insurance

This video examines the factors contributing to the profitability of Term Life Insurance. 

Section 2: Whole Life Insurance

This video focuses on the characteristics of a Whole Life Insurance policy. 

Section 2: Non-forfeiture Options of Whole Life

This video dives deeper into a Whole Life Insurance policy– specifically, the contract provision known as Non-Forfeiture-Options.  

Section 3: Standard Components to a Life Insurance Contract

This video outlines the four parts that make up the standard components to a Life Insurance contract.  

Section 3: Guaranteed Insurability Rider

This video provides a scenario showcasing how a Guaranteed Insurability Rider provides options to cover one’s Life Insurance needs. 

Section 3: Accessing Options

This video considers the options available for Whole Life policy owners when considering how to apply their dividends.  

Section 4: Health Insurance Policy Categories–Intro

This video introduces the topic of Health Insurance, which is a category of insurance that affects most people in one way or another.   

Section 4: Critical Illness Policy

This video provides a scenario that illustrates the need for a Critical Illness policy.  

Section 4: Compliance–Department of Labor

This video takes a look at the Employee Retirement Income Security Act of 1974 (ERISA); a federal law establishing minimum standards for healthcare and retirement plans in private industry.  

Section 4: Managed Care Plans

This video provides a scenario showing why companies, as third-party-payers, have restrictions in place for how much someone can spend. In Healthcare, this is known as internal limitations and cost containment.  

Section 5: Federal Regulations

This video illustrates federal regulations affecting healthcare since the advent of the COVID-19 pandemic.  

Section 5: High-Deductible Health Plans

This video speaks to High Deductible Health Plans: Plans with lower premiums and higher deductibles than traditional health plans.  

Section 6: Introduction to Medicare

This video introduces you to the topic of Medicare– the largest indemnity plan in existence in the United States.  

Section 6: Eligibility for Medicare

This video looks further into Medicare and the various factorings contributing to eligibility.  

Section 6: Medicare Part D – Prescription Drugs

This video outlines Medicare Part D – A voluntary outpatient prescription drug benefit for people with Medicare.  

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