HFMA CHFP Online Practice Questions and Exam Preparation

HFMA CHFP Online Questions & Answers

• Question 1:

  The value today of a payment to be received in the future, taking into account the cost of capital is called:

  A. Present value
  B. Payment value
  C. Account value
  D. Cost of capital value
  A. Present value

• Question 2:

  To find the book value of the fixed asset, the accumulated depreciation is added in the amount of properties and equipment.

  A. True
  B. False
  A. True

• Question 3:

  Physician referral compliance and percentage of pre-registered accounts is the relevant metric for which key revenue cycle performance area?

  A. Scheduling
  B. Registration
  C. Payment
  D. Cost-to-collect
  A. Scheduling

• Question 4:

  The process of identifying goals, objectives, tasks, activities and resources necessary to carry out the strategic plan of the organization over the next time period, typically one year is called

  A. Yearly planning
  B. Strategic Planning
  C. Future planning
  D. Planning
  D. Planning

• Question 5:

  In addition to the interest rate on a line of credit, financial institutions ale also compensated through either:

  A. Commitment fees
  B. Compensating balance
  C. Both A and B
  D. Neither A nor B
  C. Both A and B

• Question 6:

  A factor that when multiplied by a stream of equal payments equals the future value of that stream, this refers to:

  A. Present value factor of an asset
  B. Future value factor of an annuity
  C. Future value factor of money
  D. None of the above
  B. Future value factor of an annuity

• Question 7:

  Depending on a health care organization's credit terms for its trade payables, it is usually in the best interest of an organization to pay later and do not take discount.

  A. True
  B. False
  B. False

• Question 8:

  is the central element that affects all the areas in the planning and control cycle.

  A. Timing
  B. Budgeting
  C. Resourcing
  D. Equipments
  B. Budgeting

• Question 9:

  Bad debt expense is:

  A. the estimate of patient accounts payables that will not be collected.
  B. the estimate of patient accounts receivables that will be collected.
  C. the estimate of patient accounts receivables that will not be collected.
  D. the estimate of patient accounts payables that will be collected.
  C. the estimate of patient accounts receivables that will not be collected.

• Question 10:

  The portion of profits that an organization keeps for itself in-house to use in growth and support of its mission is called:

  A. Equity profit
  B. Interest
  C. Capital investment
  D. Retained earnings
  D. Retained earnings