MHA 706 Lord Exam Questions with Complete Solutions Graded A+ Bundle Compilation

Objectives are specific, often quantified, versions of goals. True or False? - Answer: True Goals are verifiable and specific, and are developed so that management can measure performance. True or False? - Answer: False Creditors and suppliers typically share the same goals for the organiz...

Moral Hazard - Answer: When the act of insuring an event increases the likelihood that the event will happen behaving different when you know someone is taking the risk (induced demand) Adverse Selection - Answer: the situation in which one party to a transaction takes advantage of knowing m...

Captial Budgeting - Answer: What long-term investments should you take on? What lines of business will you be in and what sorts of buildings, machinery, and equipment will you need? Capital Structure - Answer: Where will you get the long-term financing to pay for your investment? Will you bring...

Other "truths" in motivating physicians behaviors include - Answer: Employed doctors are easier to motivate than independent practitioners Physicians identity themselves as "doctor" with a higher level of intensity than "your employee" What is Asymmetry of information? - Answer: A gap ...

Primary role of finance within any organization - Answer: Plan for, acquire, and utilize resources to maximize the efficiency (and hence value) of the enterprise Finance activities include - Answer: - Planning and budgeting - Financial reporting - Capital investment decisions - Financing dec...

opening of 20th century - Answer: -doctors were solo practitioners -hospitals were single, independent entities, mostly non-profit -long term care for the elderly was largely home-based -pharmaceutical and medical device manufacturing was a small business 1847 - Answer: founding of American ...

Segmentation and Target Marketing - Answer: Consider markets as individuals, institutions, or a group of people Have similar needs that can be met by a specific offering Aim to identify specific customer needs and design marketing programs to satisfy those needs Firms must comprehensively: Unders...

1. The term "PEST" in a strategic perspective refers to Answer: Answer: Political, Economic, Social, and Technological factors 2. The focus of strategic business decisions includes all of the following Answer:- Answer: Establishing long-term goals, Analyzing the organization's external and int...

The major provisions of the Patient Protection and Affordable Care Act of 2010 were: - Answer: a. Free preventative b. Medicaid expansion c. Banning of preexisting condition coverage limitations T/F CFO usually is assisted by a comptroller and treasurer - Answer: TRUE T/F The department is...

Accounting - Answer: measurement in financial (dollar) terms of events that reflect the resources, operations, and financing of an organization Financial Management - Answer: provides the theory, concepts, and tools necessary to help managers make better financial decisions Characteristics o...

  assesses if the business using the right mix of debt and equity - Answer: Debt management ratio assesses if the business can meet its cash obligations - Answer: Liquidity Ratio assesses if the business have the right amount of assets for its patient volume - Answer: Assets Management R...

Marketing - Answer: *is about identifying and meeting human and social needs. One of the shortest good definitions of marketing is "meeting needs profitably. *is the activ- ity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value ...

1. Cost Driver is the... Answer: basis cost pool will be allocated 2. Cost Pool is the... Answer: overhead amount to be allocated 3. Overhead Departments are... Answer: often called cost centers 4. Indirect Costs Answer: Costs of shared resources used by the entire organization 5. Patient Servic...

1. The major provisions of the Patient Protection & Affordable Care Act of 2010 were?Answer: -Banning of preexisting condition coverage limitations -Free preventative care -Medicaid expansion 2. Which of the following statement(s) about the finance department a t large healthcare organizations is...