HFMA CHFP Exam Practice Test Instant Access

Question 1

The formula to calculate break-even for capitation is:

APMPM * Enrollees = (Enrollees - Utilization rate * variable cost / unit) + monthly variable cost

BPMPM * Enrollees = (Enrollees + Utilization rate + variable cost / unit) + monthly fixed cost

CPMPM * Enrollees = (Enrollees * Utilization rate * variable cost / unit) + monthly fixed cost

DPMPM * Enrollees = (Enrollees * Utilization rate + total variable cost) + monthly fixed cost (Where PMPM is per Member per Month)

Answer : C

Question 2

A loan typically issued by a bank that has a maturity of:

AOne to ten weeks

BTen to twelve months

COne to ten months

DOne to ten years

Answer : D

Question 3

The structuring of debt relative to equity is called _____________.

ACapital structure decision

BDebt structure decision

CEquity structure decision

DCapitalized decision

Answer : A

Question 4

The formula to calculate Expense cost variance is:

A(Actual cost per unit -- budgeted cost per unit) * Actual volume

B(Retail cost per unit -- budgeted cost per unit) * Retail volume

C(variance cost per unit -- budgeted cost per unit) * Actual volume

D(Actual cost per unit -- variance cost per unit) * variance volume

Answer : A

Question 5

Which of the following is NOT the step in expense variance?

AIdentify the amount of variance due to fixed costs

BDevelop a flexible expense budget

CCalculate actual volume for each expense

DCalculate the expense variance due to changes in volume and other factors.

Answer : C

Question 6

Which of the following is NOT the form of capitation?

ASub-capitation

BZero-based Budget

CPay-for-reporting

DContact capitation

Answer : C

Question 7

Actuarial-based formula developed to adjust rates allowing for differences in population demographics is referred to as:

ADifferential factor

BConversion factor

CCalculated factor

DNone of the above

Answer : B

HFMA CHFP Certified Healthcare Financial Professional Exam Practice Test