HFMA CHFP Online Practice Questions and Exam Preparation

HFMA CHFP Online Questions & Answers

• Question 271:

  A method that depreciates an asset an equal amount each year until it reaches its salvage value at the end of its useful life is called:

  A. Total depreciation
  B. Equal depreciation
  C. Straight-line depreciation
  D. Yearly depreciation
  C. Straight-line depreciation

• Question 272:

  A budget that accommodates a range or multiple levels of activities is known as:

  A. flexible budget
  B. variable budget
  C. multiple budget
  D. accommodating variant
  A. flexible budget

• Question 273:

  Requiring the patient to pay part of the health care bill and are used to prevent overutilization of services refers to:

  A. Copayment
  B. Part-payment
  C. Half-payment
  D. Over-payment
  A. Copayment

• Question 274:

  A form of long-term financing whereby an issuer receives cash from a lender (an investor) and in return issues a promissory note agreeing to make principal payments on specific dates is called:

  A. Bond
  B. Give and take
  C. Fixed payment
  D. Debt payment
  A. Bond

• Question 275:

  The combination of age and technology has increased cost with the passage of time.

  A. True
  B. False
  A. True

• Question 276:

  Controlling costs, decreasing profit margins, or both to meet or beat a predetermined price or reimbursement rate refers to:

  A. Target costing
  B. Cost monitoring
  C. Cost supervision
  D. Charge management
  A. Target costing

• Question 277:

  Total salary and benefit expenses / total operating expense measures:

  A. percentage of total operating expenses that are attributed to labor costs
  B. measurement of total expenses that are not attributed to labor costs
  C. proportion of benefits over expense that are attributed to operating margin
  D. percentage of total salary over operating expenses that are not attributed to operating margin
  A. percentage of total operating expenses that are attributed to labor costs

• Question 278:

  Formula to calculate the break-even point in years if cash flows are equal each year is:

  A. Initial Investment /Annual cash flow
  B. Final Investment /Initial cash flow
  C. Final Investment /Initial credit flow
  D. Initial Investment /Final credit flow
  A. Initial Investment /Annual cash flow

• Question 279:

  Common costs are that benefit a number of services shared by all.

  A. True
  B. False
  A. True

• Question 280:

  The difference between revenues forecast in the flexible budget and those actually earned is called__________

  Revenue rate variance