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Free HFMA Certified Healthcare Financial Professional CHFP Exam Questions

Page: 1 / 21 Total 310 questions

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Question 1

Which of the following is NOT the weakness of the IRR analysis?

Correct Answer: A. Discounts at the cost of capital

Question 2

Which of the following decisions involving high-dollar investments expected to achieve long-term benefits for an organization?

Correct Answer: B. Capital investment decisions

Question 3

Identifying an organization's mission, goals and strategy to best position itself for the future is called:

Correct Answer: B. Strategic Planning

Question 4

A factor that when multiplied by a stream of equal payments equals the future value of that stream, this refers to:

Correct Answer: B. Future value factor of an annuity

Question 5

Ordinary annuity is:

Correct Answer: D. a series of equal annuity payments made or received at the end of each period.

Question 6

Accrued expenses are the liabilities and are reflected in the balance sheet.

Correct Answer: A. True

Question 7

Which one of the following systems is used to classify inpatients based o their diagnoses, used by both Medicare and private insurers?

Correct Answer: A. Diagnosis-related groups

Question 8

If assets are equal to the sum of liabilities and net assets in an accounting equation then this equation is feasible for:

Correct Answer: C. Non-profit based organizations

Question 9

What an amount invested today will be worth at a given time in the future using the compound interest method, which accounts for the time value of money, this refers to:

Correct Answer: C. Future value

Question 10

At the top of the balance sheet there is a three-line heading that includes name of the organization, name ff statement and

Correct Answer: B. Two dates

Question 11

The three basic attributes of responsibility center are Authority, Responsibility and ___________.

Correct Answer: B. Accountability

Question 12

Which account represents the claim on assets that the provider could sell to meet debt payments?

Correct Answer: B. Unrestricted net asset

Question 13

Which of the following is NOT the terchnique that health care providers can employ to assist in collecting their payments?

Correct Answer: C. Charge capture

Question 14

Organizational units responsible for earning a profit by providing health care services and their revenues are earned either on a free-for-service or a flat fee basis refers to:

Correct Answer: B. Traditional profits centers

Question 15

The interest rate that a hospital borrower exchanges between another party, typically a bank or investment banking firm, with the intent of securing a more favorable rate is called:

Correct Answer: C. Interest rate swaps