HFMA CHFP Exam Questions Instant Access - No Installation Required

Question 1

A technique to analyze the relationship among revenues, costs and volume is called:

ABreak-even analysis

BTrend analysis

CUniformity analysis

DConsistency analysis

Answer : A

Question 2

Approximate interest rate is:

AThe annual interest rate incurred by not taking advantage of a supplier's discount offer to pay bills early.

BThe half year interest rate incurred by not taking advantage of a debtor's discount offer to pay bills early.

CThe annual interest rate incurred by taking advantage of a supplier's discount offer to pay bills late.

DThe annual interest rate incurred by taking advantage of a debtor's discount offer to pay bills late.

Answer : A

Question 3

A dollar will purchase less in the future than it will today, thus value of dollar in the future is worth less than it is today, this refers to:

AFuture depreciated currency

BInflation

CUncertainty

DCost reduction

Answer : B

Question 4

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

APatients accounts payable

BPatients accounts receivable

CPatients accounts bill

DPatients cash income

Answer : B

Question 5

An agent for bondholders who ensures that the health care facility is making timely principal and interest payments to the bondholders and complies with legal covenants of the bond is called:

APayment care

BPayment trustee

CBond trustee

DTrustee

Answer : D

Question 6

Some of the primary instruments for health care organizations to invest in on a long-term basis include treasury bills, certificates of deposit, commercial paper and money market funds.

ATrue

BFalse

Answer : B

Question 7

The future value formula to compound at intervals more frequent than annual is:

AFV = PV + (1 + i/m) n*m

BFV = PV * (1 + i/m) n-m

CFV = PV - (1 + i*m) n/m

DFV = PV * (1 + i/m) n*m
(Where i= annual interest rate, m=number of times /year that compounding occurs and n= number of years)

Answer : D

HFMA Certified Healthcare Financial Professional CHFP Exam Questions