HFMA CHFP Online Practice Questions and Exam Preparation

HFMA CHFP Online Questions & Answers

• Question 101:

  To indicate the desired level of performance an organization wishes to compare itself with, the organizations normally uses a process called:

  A. Standardization
  B. Capital structure ratios
  C. Benchmark
  D. Point of reference
  C. Benchmark

• Question 102:

  The resources that the organization owns, typically recorded at their original costs are called assets.

  A. True
  B. False
  A. True

• Question 103:

  Which of the following defines strategic decision?

  A. Capital investment decision designed to increase a health care organization's long- term position.
  B. Capital investment decision designed to increase investments organization's long-term position.
  C. Capital worthwhile decision designed to increase organization's long-term beneficial position.
  D. Capital worthwhile decision designed to increase organization's short-term beneficial position.
  A. Capital investment decision designed to increase a health care organization's long- term position.

• Question 104:

  Which of the following in NOT the body of the income statement for investors-owned health care organizations?

  A. Operating income
  B. Non-operating income
  C. Income for taxes
  D. Excess of revenues
  D. Excess of revenues

• Question 105:

  An investment for a for-profit entity that reduces the amount of income tax to be paid, often because interest and depreciation expenses are tax deducible is called:

  A. Tax shield
  B. Tax armor
  C. Tax buffer
  D. Tax deductibles
  A. Tax shield

• Question 106:

  Electronic billing provides an editing function called_ that reduces the number of processing errors and subsequent audits, ultimately decreasing turnaround time.

  A. Electronic data interfaces
  B. Claims scrubbing
  C. Charge capture
  D. Debugging
  B. Claims scrubbing

• Question 107:

  The financial obligations of the organization are known as:

  A. liabilities
  B. comparative net assets
  C. expenses
  D. none of the above
  A. liabilities

• Question 108:

  When using the Excel NPV function, the initial investment value must be added to the NPV function result and not entered as a value within the function itself.

  A. True
  B. False
  A. True

• Question 109:

  What is the major budgetary tool to forecast an organization's cash surplus and deficits over a given period of time?

  A. Cash inflow
  B. Cash budget
  C. Cash surplus
  D. Cash tool
  B. Cash budget

• Question 110:

  Which of the following in NOT the body of the statement of operations for non-for-profit health care organizations?

  A. Operating income
  B. Non-operating income
  C. Net income
  D. Excess of revenues
  B. Non-operating income