HFMA CHFP Certified Healthcare Financial Professional Exam Exam Practice Test Questions

• Question 1

  A revolving line of credit differs from a normal line of credit in that the revolving line of credit legally requires a bank to fulfill the borrower's credit request up to the prenegotiated limit.

  • True
  • False

  Show Answer Answer: A Next

• Question 2

  Which of the following is NOT the step involved in calculating the days in accounts receivables ratio?

  • Identify dollar amount of net patient revenues on the statement of operations.
  • Divide net patient expenses by 365 to compute average net patient expenses per day.
  • Identify the dollar amount of net patient accounts receivable on the balance sheet.
  • Divide net patient accounts receivable by average net patient revenues per day.

  Show Answer Answer: B Next

• Question 3

  Requiring the patient to pay part of the health care bill and are used to prevent overutilization of services refers to:

  • Copayment
  • Part-payment
  • Half-payment
  • Over-payment

  Show Answer Answer: A Next

• Question 4

  For not-for-profit health care providers, the net assets section of the balance sheet is analogous to the owner's equity section of a for-profit organization's statement of cash flow.

  • True
  • False

  Show Answer Answer: B Next

• Question 5

  What is relatively costly item that allow the organization to deliver service over time?

  • Equipment
  • Supplies
  • Noncurrent asset
  • Current asset

  Show Answer Answer: C Next