Mathematics with Business Applications

Chapter 11:

Practice Test

1
Barbara Johnston has a family membership in a group health insurance program. The annual premium is $5,350. Johnston's employer pays 75 percent of the total cost. What is Johnston's annual contribution?
A)$111.46
B)$334.38
C)$1,337.50
D)$4,012.50
2
Joan Sweeney is single and has a health insurance plan with the benefits listed below. Her recent network health care costs include co-payments for 4 physician visits and 12 physical therapy visits. What amount did Ms. Sweeney pay?

<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=jpg::::/sites/dl/free/0078692512/347313/Ch11_q2.jpg','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (21.0K)</a>
A)$540.00
B)$347.00
C)$275.00
D)$240.00
3
Dianna Briggs is 45 years old. She wants to purchase a $500,000, 5-year life insurance policy. The premium per $1,000 is $3.54. What is her annual premium?
A)$354.00
B)$177.00
C)$1,770.00
D)$3,540.00
4
Juan Gutierrez is 30 years old. He wants to purchase a whole life insurance policy valued at $150,000. Using the chart below, what is his annual premium?

<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=gif::::/sites/dl/free/0078692512/347312/Chapter_11_Insurance_4.gif','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (2.0K)</a>
A)$138.75
B)$176.25
C)$1,387.50
D)$1,762.50
5
Nancy DiMasio has a family membership in a group health insurance program. The annual premium is $4,500. DiMasio's employer pays 80 percent of the total cost. What is DiMasio's annual contribution?
A)$900.00
B)$1,800.00
C)$2,700.00
D)$3,600.00
6
Eric Matthews has a family membership in a group health insurance program. The annual premium is $5,850. Matthews's employer pays 80 percent of the total cost. What is Matthews's annual contribution?
A)$390.00
B)$487.50
C)$1,170.00
D)$4,680.00
7
Robert Finch is single and has a health insurance plan with the benefits listed below. His recent network health care costs include co-payments for 1 emergency room visit, 8 physician visits, and 4 specialist visits. What amount did Finch pay?

<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=gif::::/sites/dl/free/0078692512/347312/Chapter_11_Insurance_7.gif','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (5.0K)</a>
A)$695.00
B)$670.00
C)$590.00
D)$570.00
8
Keith Ahouse is 40 years old. He wants to purchase a $100,000, 5-year life insurance policy. The premium per $1,000 is $3.27. What is his annual premium?
A)$163.50
B)$327.00
C)$1,635.00
D)$3,270.00
9
Valerie Kellerman is 50 years old. She wants to purchase a $350,000, 5-year life insurance policy. The premium per $1,000 is $4.82. What is her annual premium?
A)$337.40
B)$1,687.00
C)$3,374.00
D)$24,100.00
10
Rebecca Sweeney is 25 years old. She wants to purchase a whole life policy valued at $250,000. Using the chart below, what is her annual premium?

<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=gif::::/sites/dl/free/0078692512/347312/Chapter_11_Insurance_10.gif','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (3.0K)</a>
A)$187.50
B)$237.50
C)$1,875.00
D)$2,375.00
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