Insurance Premiums and Policies

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What is the outcome if an individual or business fails to pay the insurance premium?

The premium rate will increase

The policy is suspended temporarily

The policy will be transferred to another insurer

The policy will be cancelled (correct)

What is the dual role of an insurance premium?

An asset for the insurer and an expense for the policyholder

Income for the insurer and a liability for the insurer (correct)

An expense for the insurer and income for the policyholder

Income for the insurer and an asset for the policyholder

Why may a pharmacist be compared to a pharmaceutical salesgirl?

Due to their supply of dental equipment

Due to their role in patient referrals

Due to the proliferation of drug outlets of giant drug establishments (correct)

Due to their expertise in therapeutics

Who can a pharmacist contact if they are having trouble reading a dentist's handwriting?

The dentist themselves Signup and view all the answers

What service do giant dental suppliers provide?

Dental equipment selection and installation Signup and view all the answers

What is a potential source of patient referrals for a dentist?

A pharmacist Signup and view all the answers

What is the primary purpose of the core of a business plan?

To provide a clear understanding of the business for loan officers Signup and view all the answers

What type of insurance is typically handled by life agents?

Life Insurance Signup and view all the answers

What is the purpose of insurance riders?

To add extra benefits to a life insurance policy Signup and view all the answers

What is the amount of money paid for an insurance policy?

Insurance premium Signup and view all the answers

What type of agreement is typically sought for matters such as leases and partnership agreements?

Legal counsel Signup and view all the answers

What is the primary purpose of risk management in a dental practice?

To reduce risks by sharing them with an insurance company Signup and view all the answers

Why is it better to save in insurance than in banks according to the text?

Because interest rates in banks are low nowadays Signup and view all the answers

What is the main purpose of Small Claims Court?

To aid in collection of small accounts and resolve disputes Signup and view all the answers

Why is it important to have a bank account when starting a business?

To facilitate online transactions Signup and view all the answers

What should dental practitioners consider when dealing with high-risk patients?

Ask for clearance from Medical Doctors before dental procedures Signup and view all the answers

What is the role of an Investment and Financial Advisor in dental practice management?

To guide on investment programs Signup and view all the answers

Why is it recommended to order from more than one supplier?

To minimize reliance on a single supplier Signup and view all the answers

What type of logo is allowed for a company according to the given regulations?

Present SEC reg and DTI certificates Signup and view all the answers

What is NOT allowed in a signages according to the given regulations?

Unprofessional Title of Practice Signup and view all the answers

What is a requirement for a training program in dentistry?

Conducted in a school recognized by the commission of higher education Signup and view all the answers

What is NOT allowed to be placed in a CV or require approval from the PRC BOD?

Titles given by organizations not accredited or recognized by PRC BOD Signup and view all the answers

Why is a 'Center of Excellence' signage not allowed?

It is a misleading title Signup and view all the answers

What is allowed to be used in a signage according to the given regulations?

Institution/Company/Department/Hospital Logo Signup and view all the answers

What is a crucial factor in determining the professional fees of a Certified Public Accountant?

The client's ability to pay Signup and view all the answers

What is a key responsibility of a Certified Public Accountant in supporting a dental practice?

Preparing periodic audits and financial reports Signup and view all the answers

What is a crucial step in applying for a bank loan for a dental practice?

Creating a detailed business plan Signup and view all the answers

What is a key benefit of regular consultations between a dentist and a Certified Public Accountant?

Increasing the dentist's confidence in financial decision-making Signup and view all the answers

What is a common service offered by banks to support dental practices?

Checking and savings account services Signup and view all the answers

What is a financial document that a Certified Public Accountant may prepare for a dental practice?

Income statement Signup and view all the answers