HFMA CHFP Online Practice Questions and Exam Preparation

HFMA CHFP Online Questions & Answers

• Question 11:

  Organizational units responsible for producing products or providing services and controlling their costs fall in which category?

  A. production cost centers
  B. cost centers
  C. clinical cost centers
  D. administrative cost centers
  B. cost centers

• Question 12:

  The future value formula to compound at intervals more frequent than annual is:

  A. FV = PV + (1 + i/m) n*m
  B. FV = PV * (1 + i/m) n-m
  C. FV = PV - (1 + i*m) n/m
  D. FV = PV * (1 + i/m) n*m
  D. FV = PV * (1 + i/m) n*m

• Question 13:

  Which organizations are the third party entities that contract with multiple hospitals to offer cost savings in the purchase of supplies and equipment by negotiating large-volume discounted contract with vendors?

  A. Cost saving organizations
  B. Global payment organizations
  C. Group purchasing organizations
  D. Cost-accounting organizations
  C. Group purchasing organizations

• Question 14:

  Risk pool is:

  A. A generally small population of individuals who are all uninsured under the same arrangement, regardless of working status
  B. A generally large population of individuals who are all insured under the same arrangement, regardless of working status
  C. A generally large population of groups who are all uninsured under the different arrangement, regardless of working status
  D. A generally small population of individuals who are all insured under different arrangement, regardless of working status
  B. A generally large population of individuals who are all insured under the same arrangement, regardless of working status

• Question 15:

  _______________are adjusted by multiplying hospital total discharges by a factor defined as gross patient revenue divided by gross inpatient revenue.

  A. Operating margin
  B. Profitability ratios
  C. Discharges
  D. Revenue adjustments
  C. Discharges

• Question 16:

  is a hybrid between a Health Maintenance Organization (HMO) and Preferred Provider Organization (PPO) in which patients are given the incentive to see providers participating in a defined network but may see non-network providers, though usually at some additional cost.

  A. Point of Maintenance
  B. Staff Maintenance
  C. Predetermined Service
  D. Point of Service
  D. Point of Service

• Question 17:

  Sub-capitation is:

  A. where the primary care physician pays a portion of the total capitated dollars received to another provider.
  B. where the secondary care physician pays half portion of the total capitated dollars received to another provider.
  C. where the primary care physician receives a portion of the total capitated dollars paid to another provider.
  D. where the primary care physician receives half of the total capitated dollars paid to another provider.
  A. where the primary care physician pays a portion of the total capitated dollars received to another provider.

• Question 18:

  Under accrual basis of accounting, revenues are recognized when earned.

  A. True
  B. False
  A. True

• Question 19:

  Which of the following are the four aspects that all the businesses are required to produce financial statements at least annually?

  A. Balance sheet, statement of operations, statement of changes in equity, statement of expense
  B. Journals, statement of operations, statement of changes in equity, statement of expense
  C. Balance sheet, statement of operations, statement of changes in equity, statement of cash flow
  D. Balance sheet, statement of operations, statement of controlled liabilities, statement of expense
  C. Balance sheet, statement of operations, statement of changes in equity, statement of cash flow

• Question 20:

  A technique to analyze the relationship among revenues, costs and volume is called:

  A. Break-even analysis
  B. Trend analysis
  C. Uniformity analysis
  D. Consistency analysis
  A. Break-even analysis