HFMA CHFP Online Practice Questions and Exam Preparation

HFMA CHFP Online Questions & Answers

• Question 51:

  An agreement established by the bank and the borrower that legally requires the bank to loan money to the borrower at any time requested up to the pre-negotiated limit is called:

  A. Normal Line of credit
  B. Revolving Line of credit
  C. Commitment Line of credit
  D. None of the above
  B. Revolving Line of credit

• Question 52:

  Income derived from the organization's main line of business is called:

  A. Depreciated income
  B. Operative income
  C. Net income
  D. None of the above
  B. Operative income

• Question 53:

  For not-for-profit health care providers, the net assets section of the balance sheet is analogous to the owner's equity section of a for-profit organization's statement of cash flow.

  A. True
  B. False
  B. False

• Question 54:

  A system that pays providers a specific amount in advance to care for defined health care needs of a population over a specific period is called:

  A. Health care system
  B. Prospective payments system
  C. Global payment system
  D. Capitation
  D. Capitation

• Question 55:

  Capital appreciation occurs when:

  A. an asset is worth more when sold than when purchased.
  B. an interest is worth more when sold than when purchased.
  C. a dividend is worth more when sold than when purchased.
  D. financial returns worth more when sold than when purchased.
  A. an asset is worth more when sold than when purchased.

• Question 56:

  By subtracting contractual allowances and charity care discounts from gross patient accounts receivables, what remains is:

  A. Patients accounts payable
  B. Patients accounts receivable
  C. Patients accounts bill
  D. Patients cash income
  B. Patients accounts receivable

• Question 57:

  An asset with clear value that is pledged against a loan to reduce risk to the lender is known as:

  A. Pledged asset
  B. Collateral
  C. Mortgage
  D. Bank Term loan
  B. Collateral

• Question 58:

  Requiring providers to have their capital expenditures preapproved by an independent state agency to avoid unnecessary duplication of services is referred to as:

  A. Preapproval certifications and opinions
  B. Preapproved payments
  C. Certificate of need
  D. State service reviews
  C. Certificate of need

• Question 59:

  Which is a type of capital lease whereby an institution sells an owned asset and then simultaneously leases it back from the purchaser?

  A. Trade off leases
  B. Sell and leaseback arrangement
  C. Capital lease
  D. Selling and purchasing leases
  B. Sell and leaseback arrangement

• Question 60:

  The three basic attributes of responsibility center are Authority, Responsibility and .

  A. Usability
  B. Accountability
  C. Reliability
  D. Scalability
  B. Accountability