HFMA CHFP Online Practice Questions and Exam Preparation

HFMA CHFP Online Questions & Answers

• Question 171:

  A set of federal compliance regulations to ensure standardization of billing, privacy and reporting as institutions convert to electronic systems is called:

  A. Health Insurance standard Act
  B. Reimbursement Insurance Act
  C. Medicare Reporting Act
  D. Health Insurance portability and Accountability Act
  D. Health Insurance portability and Accountability Act

• Question 172:

  Which are the obligations to pay suppliers who have sold the health care organization goods or services on credit?

  A. Account suppliers
  B. Account payable
  C. Account receivable
  D. Accrued Account
  B. Account payable

• Question 173:

  Higher debt increases financial risk by magnifying the returns on net asset or equity.

  A. True
  B. False
  A. True

• Question 174:

  What offered to prospective buyers of a bond by the underwriters to help determine a fair market price for the bond refers to?

  A. Preliminary official statement
  B. Market price rating
  C. Public offering process
  D. Bond price agreement
  A. Preliminary official statement

• Question 175:

  A table that shows the percentage of receivables outstanding by the month they incurred is called:

  A. Aging schedule
  B. Receivable schedule
  C. Cash schedule
  D. Tablet schedule
  A. Aging schedule

• Question 176:

  A legal document that states the conditions and terms of a bond is called .

  A. Indenture
  B. Debenture
  C. Par value document
  D. Bond certifications
  A. Indenture

• Question 177:

  What an equal series of payments will be worth at some future date using compound interest is known as:

  A. Future value of payments
  B. Future value of compound entities
  C. Future value of an annuity
  D. Equality in payments
  C. Future value of an annuity

• Question 178:

  Which represents the assets, liabilities and net assets for a health care provider?

  A. Accounting cycle
  B. Balance sheet
  C. Income statement
  D. Statement of cash flows
  B. Balance sheet

• Question 179:

  In which act, federal legislation designed to tighten accounting standards in financial reporting and that holds top executives personally liable as to the accuracy and fairness of their financial statements?

  A. Sarbanes-Oxley Act
  B. Insurance accountability Act
  C. Financial statement Act
  D. Portability and Accountability Standardized Act
  A. Sarbanes-Oxley Act

• Question 180:

  Approximate interest rate is:

  A. The annual interest rate incurred by not taking advantage of a supplier's discount offer to pay bills early.
  B. The half year interest rate incurred by not taking advantage of a debtor's discount offer to pay bills early.
  C. The annual interest rate incurred by taking advantage of a supplier's discount offer to pay bills late.
  D. The annual interest rate incurred by taking advantage of a debtor's discount offer to pay bills late.
  A. The annual interest rate incurred by not taking advantage of a supplier's discount offer to pay bills early.