CHFP Online Practice Questions and Answers

A set of federal compliance regulations to ensure standardization of billing, privacy and reporting as institutions convert to electronic systems is called:

A. Health Insurance standard Act

B. Reimbursement Insurance Act

C. Medicare Reporting Act

D. Health Insurance portability and Accountability Act

A process that specifies in advance the preferred treatment regimen for patients with particular diagnoses is called:

A. Retail health care

B. Diagnosis care

C. Complementary medicine

D. Care mapping

Working capital is:

A. Current assets and current liabilities

B. Current expenses and current revenues

C. Expected assets and expected liabilities

D. Expected expenses and expected revenues

Which of the following is the relevant metric for the Charge capture, the key revenue cycle performance area?

A. Charge receipts as percentage of net revenues.

B. Accounts waiting for charge capture

C. Accuracy of recording billable supplies.

D. Lag days from date of service until charge capture

A method that depreciates an asset an equal amount each year until it reaches its salvage value at the end of its useful life is called:

A. Total depreciation

B. Equal depreciation

C. Straight-line depreciation

D. Yearly depreciation

is the central element that affects all the areas in the planning and control cycle.

A. Timing

B. Budgeting

C. Resourcing

D. Equipments

A legal document that states the conditions and terms of a bond is called .

A. Indenture

B. Debenture

C. Par value document

D. Bond certifications

The future value formula to compound at intervals more frequent than annual is:

A. FV = PV + (1 + i/m) n*m

B. FV = PV * (1 + i/m) n-m

C. FV = PV - (1 + i*m) n/m

D. FV = PV * (1 + i/m) n*m

An organization unit that has been formally given the responsibility to carry out one or more tasks, to achieve one or more outcomes or both refers to:

A. Responsibility center

B. Responsibility pool C. Task management

C. Control management

____________expenses are the expenses that arise in the control course of business that have not yet been paid.