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HMAP 5306: HEALTH FINANCE ALL CHAPTERS WITH ALL QUIZZES- 2025 LATEST ACTUAL TESTS
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HMAP 5306: HEALTH FINANCE ALL CHAPTERS WITH ALL QUIZZES- 2025 LATEST ACTUAL TESTS
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HMAP 5306: HEALTH FINANCE ALLCHAPTERS WITH ALL QUIZZES- 2025
LATEST ACTUAL TESTS
Chapter 1, 2, 3 (Quiz 1)!
Which of the following statements about Medicare reimbursement
of physicians is most correct? Correct Answer The payment is
based on relative value units (RVUs).
True or false:
The role of finance in healthcare organizations has increased in
importance over time because the finance function must support a
multitude of activities such as cost containment, payer
negotiations, and joint venture activities. Correct Answer True
Assume that John Richards pays income taxes at a 30 percent
rate. He currently owns a not-for-profit (municipal) bond that pays
5 percent interest. What interest rate would have to be set on a
for-profit (corporate) bond to produce the same amount of usable
(after-tax) income?
a. 7.1%
b. 8.4%
c. 6.6%
d. 5.7%
e. 5.0% Correct Answer a. (5%/70%) = 7.1%
In the United States, the highest proportion of healthcare
expenditures is for _______________.
a. hospital care
b. home health care
,c. prescription drugs
d. nursing home care Correct Answer a. Hospital Care
True or false:
There are several types of managed care organizations (MCOs).
Regardless of type, all MCOs have the incentive to reduce
utilization. Correct Answer True
Which of the following activities are business characteristics?
a. It sustains itself financially by selling the goods and/or services
produced.
b. It uses the purchased assets to create goods and/or services.
c. It uses money raised to purchase assets such as land,
buildings, and equipment.
d.The entity raises money in the capital markets.
e. all of them Correct Answer e. All of them
i.e.:
- It sustains itself financially by selling the goods and/or services
produced.
- It uses the purchased assets to create goods and/or services.
- It uses money raised to purchase assets such as land, buildings,
and equipment.
- The entity raises money in the capital markets.
Assume that Reginald Worthington, who pays 40 percent in
income taxes, plans to contribute $100,000 to not-for-profit
Ravenswood Community Hospital. Without the contribution, his
tax bill would be $500,000. What would be his tax bill if makes the
contribution?
a. 460,000
b. 400,000
c. 440,000
d. 500,000
,e. 0 Correct Answer a. ($500,000 - $40,000) <-- 100,000 * .4
=$460,000
Which of the following statements about regulatory and legal
issues is most correct?
a. states require license of certain healthcare providers to limit the
number of providers.
b. the goal of certificate-of-need (CON) regulations is to ensure
that there are a sufficient number of clinical workers at each
hospital and nursing home.
c. clinicians who are employees of hospitals do not require
personal licenses, as they c an practice under the umbrella of the
hospitals license
d. for most providers, the primary legal concern is professional
liability
e. healthcare managers must grapple with several legal issues,
but there are virtually no ethical issues that arise. Correct Answer
d. For most providers, the primary legal concern is professional
liability.
Which of the following statements about **not-for-profit**
corporations is most correct?
a. they can issue tax-exempt (municipal) debt
b. they pay federal income taxes
c. they pay local and state tax
d. they pay dividends to owners
e. community residents exercise control of such corporations by
voting for the board of directors (trustees). Correct Answer They
can issue tax-exempt (municipal) debt.
To be workable, insurance must have which of the following
characteristics?
, a. Pooling of losses
b. All of them
c. Payment only for random losses
d. Indemnification
e. Risk transfer Correct Answer b. All of them
i.e:
- Indemnification
- Risk transfer
- Payment only for random losses
- Pooling of losses
Which of the following statements about coding is incorrect?
a. coding is the first step in the reimbursement process
b. CPT codes are used to specify medical procedures
(treatments)
c. coders typically are registered nurses who receive special
training
d. codes typically are assigned on the basis of a clinician's notes
e. ICD codes are used to classify diseases and injuries Correct
Answer c. Coders typically are registered nurses who receive
special training.
Which of the following statements about finance, accounting, or
financial management is most correct?
A.) Financial management involves the measurement, in financial
terms, of operational events that affect the resources and
financing of an organization.
B.) Accounting is of no value in decision making.
C.) The primary role of finance is to plan for, acquire, and use
resources to maximize the efficiency (and value) of the enterprise.
D.) Accounting provides the theory and concepts necessary to
help managers make better decisions. Correct Answer C.) The
primary role of finance is to plan for, acquire, and use resources
to maximize the efficiency (and value) of the enterprise.
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