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HFMA CSPPM LATEST TEST REVIEW Q & S 2024.
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HFMA CSPPM LATEST TEST REVIEW Q & S 2024.HFMA CSPPM LATEST TEST REVIEW Q & S 2024.HFMA CSPPM LATEST TEST REVIEW Q & S 2024.
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HFMACSPPM
LATEST FINAL TEST REVIEW
Q&S
©2024/2025
,1. Which of the following is NOT typically part of the revenue
cycle management process in a physician practice?
- A) Patient registration
- B) Charge capture
- C) Equipment sterilization
- D) Claims submission
Correct Answer: C) Equipment sterilization
Rationale: Equipment sterilization is a part of clinical operations,
not revenue cycle management.
2. What is the first step in the revenue lifecycle where complete
and accurate patient information is crucial?
- A) Coding
- B) Billing
- C) Scheduling and Registration
- D) Claims processing
Correct Answer: C) Scheduling and Registration
Rationale: Scheduling and registration involve collecting patient
demographics and insurance information, vital for the subsequent
billing process.
©2024/2025
, Budget Preparation and Financial Projections
3. Which financial document would a practice manager prepare
to project a physician practice's financial performance over a
specific period?
- A) Balance sheet
- B) Income statement
- C) Cash flow forecast
- D) Budget variance report
Correct Answer: C) Cash flow forecast
Rationale: A cash flow forecast is used to project the practice's
cash inflows and outflows over a future period.
4. In budget preparation, what does a flexible budget allow for
that a static budget does not?
- A) Adjustments based on changes in activity levels
- B) Fixed costs analysis
- C) Historical data comparison
- D) Detailed departmental spending
Correct Answer: A) Adjustments based on changes in activity
levels
©2024/2025
, Rationale: A flexible budget adjusts for actual levels of activity,
unlike a static budget.
Cost Accounting
5. What is the primary purpose of cost accounting in a physician
practice?
- A) To adhere to tax regulations
- B) To determine patient charges
- C) To evaluate and control expenses
- D) To generate financial statements
Correct Answer: C) To evaluate and control expenses
Rationale: Cost accounting helps in managing expenses and
improving financial efficiency.
6. In cost accounting, which method allocates overhead costs
based on the number of procedures performed?
- A) Direct costing
- B) Activity-based costing
- C) Absorption costing
- D) Standard costing
Correct Answer: B) Activity-based costing
©2024/2025
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