Advanced Diploma of Financial Planning (ADFP) Practice Test

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Prepare for the Advanced Diploma of Financial Planning Test. Study with interactive quizzes and comprehensive questions, each offering detailed explanations and insights. Gear up for success!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Is Medicare a federal health insurance plan for individuals who are 62 years or older?

True
False
Only for retired individuals
Only for senior citizens with disabilities

The correct answer is: False

Medicare is not limited to individuals who are 62 years or older. It primarily serves people aged 65 and older, but it is also available to younger individuals who qualify due to disabilities or specific health conditions, such as End-Stage Renal Disease or Amyotrophic Lateral Sclerosis (ALS). Therefore, the assertion that Medicare is exclusively for those aged 62 and older is inaccurate, making the statement false. Additionally, while retirement status can influence eligibility for some portions of Medicare, such as Part A, the program itself is designed to provide coverage for a broader range of individuals based on age or medical condition, rather than solely focusing on retirement. This underscores the importance of recognizing that Medicare encompasses a wider demographic than merely senior citizens, especially those who are retired.