HFMA CHFP Online Practice Questions and Exam Preparation

HFMA CHFP Online Questions & Answers

• Question 121:

  Identifying an organization's mission, goals and strategy to best position itself for the future is called:

  A. Mission statement
  B. Strategic Planning
  C. Future planning
  D. None of the above
  B. Strategic Planning

• Question 122:

  What refers to holding cash to meet unexpected demands, such as unforeseen maintenance?

  A. Finance credits
  B. Daily operations
  C. Precautionary purposes
  D. None of the above
  C. Precautionary purposes

• Question 123:

  Ordinary annuity is:

  A. a series of equal and unequal annuity payments made or received at the end of each period.
  B. a series of equal annuity debts made or received at the end of each period.
  C. a series of unequal annuity debts made or received at the start of each period.
  D. a series of equal annuity payments made or received at the end of each period.
  D. a series of equal annuity payments made or received at the end of each period.

• Question 124:

  Direct financial benefits to investors can take which two forms?

  A. Periodic payments in form of dividends and financial returns
  B. Periodic interest and retained earnings
  C. Periodic payments in form of dividends and retained earnings
  D. None of the above
  C. Periodic payments in form of dividends and retained earnings

• Question 125:

  What represents the costs that are incurred in the day to day operation of the business?

  A. Permanent restricted net assets
  B. Statement of cash flows
  C. Operating income
  D. Operating expenses
  D. Operating expenses

• Question 126:

  A short-term unsecured loan made for some specific purpose is known as:

  A. Payable
  B. Debt
  C. Transaction note
  D. Borrowed cash
  C. Transaction note

• Question 127:

  Collateral is:

  A. An intangible asset that is pledged as a promise to repay a loan
  B. A tangible asset that is pledged as a promise to repay a loan
  C. An intangible asset that is pledged as a promise to pay a loan once a year
  D. A tangible asset that is pledged as a promise to pay a loan once a year
  B. A tangible asset that is pledged as a promise to repay a loan

• Question 128:

  The range of activity over which total fixed costs or per unit variable cost (or both) does not vary is called:

  A. Fixed cost range
  B. Cost per unit activity
  C. Relevant range
  D. Cost range
  C. Relevant range

• Question 129:

  Operating income divided by total operating revenues measures:

  A. Net operating value
  B. Operating margin ratio
  C. Gross operating ratio
  D. Subsequent operating ratio
  B. Operating margin ratio

• Question 130:

  Noncurrent assets require special management attention because of their liquidity and transportability, current assets require special attention because of their cost and extensive time horizon it takes to plan, acquire and manage them.

  A. True
  B. False
  B. False