SPLK-1001 Practice Questions

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NEW QUESTION: 1
In the paragraph below, two statements each contain a pair of terms enclosed in parentheses. Determine which term correctly completes each statement. Then select the answer choice that contains the two terms you have chosen.
A formulary lists the drugs and treatment protocols that are considered to be the preferred therapy for a given managed population. The Fairfax Health Plan uses the type of formulary which covers drugs that are on its preferred list as well as drugs that are not on its preferred list. This information indicates that Fairfax uses the (closed / open) formulary method. In using the formulary approach to pharmacy benefits management, Fairfax most likely experiences (higher / lower) costs for its members' prescription drugs than it would if it did not use a formulary.
A. closed / higher
B. open / higher
C. open / lower
D. closed / lower
Answer: C

NEW QUESTION: 2
Under the expenditure approach, GDP can be calculated as the sum of:
A. Consumption, investment, government purchases, and net exports.
B. Consumption, investment, transfer payments, and imports.
C. Consumption, investment, government purchases, and foreign exchange.
D. Consumption, money supply, government purchases, and exports.
Answer: A
Explanation:
Choice "c" is correct. Under the expenditure approach, GDP is calculated as the sum of: consumption
expenditures + investment expenditures + government purchases + net exports.
Choice "a" is incorrect. See definition above.
Choice "b" is incorrect. See definition above.
Choice "d" is incorrect. See definition above.

NEW QUESTION: 3

A. Option C
B. Option A
C. Option B
D. Option D
Answer: B