HFMA CHFP Online Practice Questions and Exam Preparation

HFMA CHFP Online Questions & Answers

• Question 91:

  Covenants protect the claim of bond-holders on the facility's assets in case of default.

  A. True
  B. False
  A. True

• Question 92:

  The rate of return on an investment that makes the net present value equal to $0, after all cash flows have been discounted at the same rate is called:

  A. External rate of return
  B. Discounted rate of return
  C. Invested rate of return
  D. Internal rate if return
  D. Internal rate if return

• Question 93:

  What guides the organization into the future by identifying the unique attributes of the organization, why it exists and what it hopes to achieve?

  A. Planning statement
  B. Vision statement
  C. Mission statement
  D. Budgeting statement
  C. Mission statement

• Question 94:

  The difference between what was planned (budgeted) and what was received (actual) is called:

  A. Difference variant
  B. Account variant
  C. Budget variant
  D. Cost variant
  C. Budget variant

• Question 95:

  In not-for-profit organizations, (excess of revenues over expenses) / net assets is the ratio to measure:

  A. Return on investments
  B. Return on total assets
  C. Return on net assets
  D. None of the above
  C. Return on net assets

• Question 96:

  Additional costs incurred solely as a result of an action or activity or a particular set of actions or activities refer to:

  A. Incremental costs
  B. Margin costs
  C. Superfluous costs
  D. External costs
  A. Incremental costs

• Question 97:

  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
  B. Traditional profits centers

• Question 98:

  Identify non-operative revenues and total operating revenues on statement of operations and then divide non-operating revenues by total operating revenues makes:

  A. Total revenue ratio
  B. Operating margin revenue ratio
  C. Gross operating revenue ratio
  D. Non-operating revenue ratio
  D. Non-operating revenue ratio

• Question 99:

  A method of budgeting in which the roles and responsibilities of putting together a budget are diffused throughout the organization, typically originating at the department level is called Participatory approach

  A. True
  B. False
  A. True

• Question 100:

  Time value of money is:

  A. The concept that a dollar paid today is worth more than a dollar received on future.
  B. The concept that a dollar received yesterday was worth more than a dollar received today.
  C. The concept that a dollar paid today is worth less than a dollar received on yesterday.
  D. The concept that a dollar received today is worth more than a dollar received on future.
  D. The concept that a dollar received today is worth more than a dollar received on future.