Exam (elaborations)
NAB RCAL EXAM QUESTIONS AND ANSWERS
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NAB RCAL EXAM QUESTIONS AND ANSWERS
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NAB RCAL EXAM QUESTIONS ANDANSWERS
Breakeven Point? - Answer-total cost = total revenue
Working capital ratio - Answer-current assets / current liabilities
Acid-test (quick) ratio - Answer-(cash + AR + short-term investments) / current liabilities
debt to assets ratio - Answer-total liabilities/total assets
FTE (full time equivalent) - Answer-total number of hours per employee in a week / 40
(i.e. 12+14+40+30 div. by 40)
Profit margin - Answer-NOI/Tot. Revenue. Defined as "income to sales. 2 types, gross
prof margin and net prof margin)
Net Operating Income (NOI) - Answer-Total (gross) Revenue - operating expenses
Occupancy rate - Answer-(# of resident days/facility beds) x 365
HCS - Answer-Hazard Communication Standard. OSHA standard requiring employers
to inform workers of potentially hazardous chemicals.
Balance sheet formula - Answer-Assets = Liabilities + Shareholders Equity
EBITDA - Answer-Earnings before interest, taxes, depreciation, and amortization
Amortization - Answer-the reduction of a loan balance through payments made over a
period of time
revenue cycle management - Answer-resident needs->service planning->staffing-
>billing/collections->
FICA SS Tax and Medicare Tax - Answer-6.2% and 1.45%
4 elements of a valid contract - Answer-agreement, consideration, contractual capacity,
legality (in writing) "ACCL"
Liability insurance usually covers.. - Answer-Bodily injury and property damage
Lock out tag out - Answer-For all electrical equipment
safe electrical practices - Answer-National Electrical Code or NEC
, Following NFPA Life Safety Code - Answer-fire plan, regular fire drills, detectors,
training on procedure, non combustable furnishing/draperies
Extinguisher class A - Answer-ordinary combustibles such as wood/paper
Extinguisher Class B - Answer-For flammable liquids and gas fires (grease, paint)
Extinguisher class C - Answer-Live electrical equipment (panelling)
Extinguisher class D - Answer-Combustable metals (aluminum)
Extinguisher class K - Answer-Commercial cooking equipment (cooking oil, animal fats)
PASS (Fire Safety) - Answer-P - Pull the pin.
A - Aim at the base of the fire, not at the flames.
S - Squeeze the lever.
S - Sweep the nozzle from side to side.
R.A.C.E. (Fire safety) - Answer-rescue, alarm, contain, extinguish
Accrual Basis Accounting - Answer-reporting income when it is earned and expenses
when they are incurred
Cash Basis Accounting - Answer-Reporting income when the cash is received and
expenses when the cash is paid.
LLC (Limited Liability Company) - Answer-Limited liability, pass through income
taxation, flexibility
S corporation - Answer-A unique government creation that looks like a corporation but is
taxed like sole proprietorships and partnerships
Net Worth Formula - Answer-Assets - Liabilities
Dementia Living Environment - Answer-Residential living with clinical aspects. safe,
quiet, secured
Effective Claims Management for working with insurance agencies - Answer-
components of the claims handling process include developing strategies to cut costs
and reduce fraud while keeping customers satisfied
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