Free Certified Healthcare Financial Professional Exam CHFP Exam Practice Test

Under accrual basis of accounting, revenues are recognized when earned.

• True
• False

Which of the following are the two ways to receive cash advances from outstanding accounts receivable?

• Factoring and receivables cycle
• Collections and receivables cycle
• Factoring and accounts receivables management
• Factoring and receivables as collateral

Required rate of return is:

• An organization's minimally acceptable internal rate of return on any investment to justify an initial investment.
• An organization's minimally rejected internal rate of return on any investment to justify a final investment.
• An organization's maximally accepted external rate of return on any investment to justify an initial investment.
• An organization's maximally rejected external rate of return on any investment to justify a final investment.

Question-Type: FILL IN THE BLANKSQuestion-Title: The quick ratio is equal to addition of cash, marketable securities and net accounts receivables divided by current liabilities, in this which entity is relatively liquid one?

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

• Retail health care
• Diagnosis care
• Complementary medicine
• Care mapping

The process of identifying goals, objectives, tasks, activities and resources necessary to carry out the strategic plan of the organization over the next time period, typically one year is called

• Yearly planning
• Strategic Planning
• Future planning
• Planning

The method of setting premium rates based on the actual health care costs of a group or groups is:

• Premium rating plan
• Fixed payment rating
• Actual rating
• Experience rating

The difference between what was planned (budgeted) and what was received (actual) is called:

• Difference variant
• Account variant
• Budget variant
• Cost variant

Depending on a health care organization's credit terms for its trade payables, it is usually in the best interest of an organization to pay later and do not take discount.

• True
• False

Working capital is:

• Current assets and current liabilities
• Current expenses and current revenues
• Expected assets and expected liabilities
• Expected expenses and expected revenues