HFMA CHFP Exam Practice Test Instant Access

Question 1

What represents the difference between unrestricted revenues, gains and other support and expenses?

AOperating expense

BUnrestricted net assets

COperating income

DStatement of Operations

Answer : C

Question 2

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

AAccounting cycle

BBalance sheet

CIncome statement

DStatement of cash flows

Answer : B

Question 3

To find the book value of the fixed asset, the accumulated depreciation is added in the amount of properties and equipment.

ATrue

BFalse

Answer : A

Question 4

______________ is the contra-asset to properties and equipment and the allowance for uncollectable, which is the contra-asset to accounts receivables.

ADispersive appreciation

BDepreciation expense

CDepreciated Contra-asset

DAccumulated depreciation

Answer : D

Question 5

An asset that, when increased, decreases the value of a related asset on the books is called:

AControversial asset

BSlender asset

CContra-asset

DContracted asset

Answer : C

Question 6

Production cost centers are:

Aresponsible for producing or selling products or both.

Bresponsible for shipping products

Cresponsible for raw material cost of the products.

DNone of the above

Answer : A

Question 7

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

Aproduction cost centers

Bcost centers

Cclinical cost centers

Dadministrative cost centers

Answer : B

HFMA Certified Healthcare Financial Professional Exam Practice Test