Question 1: What are two "benefit triggers" a long-term care policy might have?

A) the companion-benefit trigger and the senile dementia trigger

B) the home-nursing benefit trigger and the ADL benefit trigger

C) the ADL benefit trigger and the cognitive impairment trigger

D) the ADL benefit trigger and the companion-benefit trigger

Question 2

Russell gives his father $15,000 for the purpose of buying long-term care insurance. The

$15,000:

A) cannot be taxed if it is applied within 30 days to the cost of coverage

B) can be taxed at a rate of 7.5%

C) can be taxed, as it is a gift over $11,000

D) cannot be taxed, as it is a gift

Question 3 A waiver of premium:

A) allows the policyholder to pay premiums up to 10 days late

B) allows the policyholder to stop paying premiums once he begins receiving

benefits

C) allows the policyholder to stop paying premiums after benefits have ended

D) allows the policy holder to stop paying premiums after the age of 65