HFMA CHFP Online Practice Questions and Exam Preparation

HFMA CHFP Online Questions & Answers

• Question 231:

  Supplies refer to small-dollar items that will be used up or fully consumed within more than two years.

  A. True
  B. False
  B. False

• Question 232:

  Stockholders equity for investors-owned organizations represents:

  A. Stock and retained earnings
  B. Stock and accrual earnings
  C. Stock and sales
  D. Stock and purchase
  A. Stock and retained earnings

• Question 233:

  The need to abide by governmental regulations, whether they are for the provision of care, billing, privacy accounting standards, security or the like refers to:

  A. Compliance
  B. Chronic Medicare
  C. Health proactive standards
  D. None of the above
  A. Compliance

• Question 234:

  Organizational units that are primarily responsible for ensuring that health care-related services are provided to a population in volume and quality control environment of the organization and have direct budgetary control.

  A. True
  B. False
  A. True

• Question 235:

  Selling accounts receivable at a discount, usually to a financial institution is called:

  A. Factoring
  B. Discounted rate
  C. Financial accounts
  D. None of the above
  A. Factoring

• Question 236:

  An annuity for an infinite period of time is called:

  A. Infinite annuity
  B. Indefinite annuity
  C. Perpetuity
  D. Undefined annuity
  C. Perpetuity

• Question 237:

  Which of the following is NOT the rule to follow under normal conditions to decide between short0term and long-term borrowing to finance working capital needs?

  A. Finance short-term working capital needs with short-term debts
  B. Finance long-term working capital needs with long-term debts
  C. Do daily operations to hold cash to pay day to day bills.
  D. Employ a mixed strategy by financing a certain base amount with long-term financing
  C. Do daily operations to hold cash to pay day to day bills.

• Question 238:

  Three commonly used financial techniques to analyze capital investment decisions for health care organizations are Payback, Internal rate of return and .

  A. Internal rate of return
  B. Net present value
  C. Investment
  D. Financial technology
  B. Net present value

• Question 239:

  Tax-exempt bonds have higher interest rates than do taxable bonds because investors in tax-exempt bonds must have to pay taxes on the interest income they receive.

  A. True
  B. False
  B. False

• Question 240:

  Which funds typically equivalent to one year of principal and interest payments, are set aside with the trustee to act as a safeguard against default during the life of the loan period?

  A. Interest investment funds
  B. Debt service reserve funds
  C. Loan period payment funds
  D. Debt active funds
  B. Debt service reserve funds