Insurance Premiums and Policies
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Questions and Answers

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?

    <p>The dentist themselves (A)</p> Signup and view all the answers

    What service do giant dental suppliers provide?

    <p>Dental equipment selection and installation (C)</p> Signup and view all the answers

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

    <p>A pharmacist (D)</p> Signup and view all the answers

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

    <p>To provide a clear understanding of the business for loan officers (C)</p> Signup and view all the answers

    What type of insurance is typically handled by life agents?

    <p>Life Insurance (B)</p> Signup and view all the answers

    What is the purpose of insurance riders?

    <p>To add extra benefits to a life insurance policy (B)</p> Signup and view all the answers

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

    <p>Insurance premium (B)</p> Signup and view all the answers

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

    <p>Legal counsel (B)</p> Signup and view all the answers

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

    <p>To reduce risks by sharing them with an insurance company (B)</p> Signup and view all the answers

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

    <p>Because interest rates in banks are low nowadays (B)</p> Signup and view all the answers

    What is the main purpose of Small Claims Court?

    <p>To aid in collection of small accounts and resolve disputes (A)</p> Signup and view all the answers

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

    <p>To facilitate online transactions (B)</p> Signup and view all the answers

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

    <p>Ask for clearance from Medical Doctors before dental procedures (A)</p> Signup and view all the answers

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

    <p>To guide on investment programs (D)</p> Signup and view all the answers

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

    <p>To minimize reliance on a single supplier (B)</p> Signup and view all the answers

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

    <p>Present SEC reg and DTI certificates (C)</p> Signup and view all the answers

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

    <p>Unprofessional Title of Practice (C)</p> Signup and view all the answers

    What is a requirement for a training program in dentistry?

    <p>Conducted in a school recognized by the commission of higher education (B)</p> Signup and view all the answers

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

    <p>Titles given by organizations not accredited or recognized by PRC BOD (D)</p> Signup and view all the answers

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

    <p>It is a misleading title (D)</p> Signup and view all the answers

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

    <p>Institution/Company/Department/Hospital Logo (A)</p> Signup and view all the answers

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

    <p>The client's ability to pay (B)</p> Signup and view all the answers

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

    <p>Preparing periodic audits and financial reports (A)</p> Signup and view all the answers

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

    <p>Creating a detailed business plan (A)</p> Signup and view all the answers

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

    <p>Increasing the dentist's confidence in financial decision-making (D)</p> Signup and view all the answers

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

    <p>Checking and savings account services (A)</p> Signup and view all the answers

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

    <p>Income statement (D)</p> Signup and view all the answers

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