HFMA Certified Healthcare Financial Professional CHFP Questions & Answers

• Question 41:

  Organizations that do not provide health care-related services but are responsible for their profit are called:

  A. Organizational profit centers

  B. Traditional profits centers

  C. Capitated profit centers

  D. Administrative profit centers

  Correct Answer: D

• Question 42:

  Organizational units that have all the responsibilities of a traditional profit center and are responsible for return on investment are known as:

  A. Investment centers

  B. Profit centers

  C. Capitated centers

  D. Traditional investment centers

  Correct Answer: A

• Question 43:

  Cost centers that support clinical cost centers and the organization as a whole are called:

  A. Organizational cost centers

  B. Managerial cost center

  C. Administrative cost centers

  D. Secretarial cost centers

  Correct Answer: C

• Question 44:

  Profit centers are the organizational units responsible for controlling costs and earning revenues.

  A. True

  B. False

  Correct Answer: A

• Question 45:

  Organizational units responsible for earning a profit by providing health care services and their revenues are earned either on a free-for-service or a flat fee basis refers to:

  A. Organizational earnings centers

  B. Traditional profits centers

  C. Profit earning centers

  D. Flat fee profit centers

  Correct Answer: B

• Question 46:

  Cost centers that are responsible for providing health care-related services to clients, patients or enrollees refer to:

  A. service cost center

  B. clinical cost center

  C. production cost centers

  D. clinical cost centers

  Correct Answer: D

• Question 47:

  Production cost centers are:

  A. responsible for producing or selling products or both.

  B. responsible for shipping products

  C. responsible for raw material cost of the products.

  D. None of the above

  Correct Answer: A

• Question 48:

  Which of the following is NOT the type cost centers in health care organizations?

  A. production cost centers

  B. service cost centers

  C. clinical cost centers

  D. administrative cost centers

  Correct Answer: B

• Question 49:

  Organizational units responsible for producing products or providing services and controlling their costs fall in which category?

  A. production cost centers

  B. cost centers

  C. clinical cost centers

  D. administrative cost centers

  Correct Answer: B

• Question 50:

  Organizational units that are primarily responsible for ensuring that health care-related services are provided to a population in volume and quality control environment of the organization and have direct budgetary control.

  A. True

  B. False

  Correct Answer: A