HFMA CHFP Exam Questions Instant Access - No Installation Required

Question 1

Electronic billing provides an editing function called________ that reduces the number of processing errors and subsequent audits, ultimately decreasing turnaround time.

AElectronic data interfaces

BClaims scrubbing

CCharge capture

DDebugging

Answer : B

Question 2

Which of the following is NOT the weakness of the IRR analysis?

ADiscounts at the cost of capital

BAssumes reinvestment of proceeds at the internal rate of return

CEstimates may be difficult to develop

DCan generate multiple rates of return if future cash flows are estimates

Answer : A

Question 3

The formula for calculating the horizontal analysis is:

A(subsequent year -- current year / previous year) = percentage change

B(subsequent year -- previous year / previous year) * 100 = percentage change

C(current year -- previous year / current year) * 100 = percentage change

D(current year -- previous year / subsequent year) + 365 = percentage change

Answer : B

Question 4

A loan typically issued by a bank that has a maturity of:

AOne to ten weeks

BTen to twelve months

COne to ten months

DOne to ten years

Answer : D

Question 5

A smaller portion of a fixed rate bond issue that matures during the early due dates of the issue, typically during the first ten to fifteen years with their own interest rate are called:

ACallable bonds

BEarly Fixed bonds

CEarly rate bonds

DSerial bonds

Answer : D

Question 6

A method of budgeting in which the roles and responsibilities of putting together a budget are diffused throughout the organization, typically originating at the department level is called Participatory approach

ATrue

BFalse

Answer : A

Question 7

Which of the following is NOT the step includes in computing the age of plant ratio?

AIdentify the accumulated depreciation on the balance sheet.

BIdentify the depreciated expense on the statement of operations.

CSubtract the accumulated depreciation by the depreciation expense

DDivide the accumulated depreciation by the depreciation expense.

Answer : C

HFMA Certified Healthcare Financial Professional CHFP Exam Questions