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2023 HCM Exit Exam WITH VERIFIED AND REVISED ANSWERS
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2023 HCM Exit Exam WITH VERIFIED AND REVISED ANSWERS 2023 HCM Exit Exam WITH VERIFIED AND REVISED ANSWERS
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HCM Exit Exam1. Which of the following is NOT a classical insurance
principle?: The possi- bility of moral hazard must exist
2. Why do physicians like PPOs?: There is more control over
cost
3. is often identified as the factor most
responsible for demand pull inflation in medical care.:
The presence of third party payers
4. Who provides most long-term care services?:
(Informal) Family caregivers or (Formal) CNA's
5. A cost that has already occurred or irrevocably
committed is a:: Sunk Cost
6. What is an example of variable cost?: Drugs
7. Explain the sentence: "In the long-term, all costs are
,variable".: If a compa- ny begins to lose revenue, the
company will begin to shed facilities and employees
8. If the cafeteria has 3,250,000 in overhead costs to be
allocated on patient days and patient days are
18,259,000 then the allocation rate is?: 178
9. Which of the following is an example of direct
healthcare cost?: Co-pay- ment paid to a doctor's office
10.What two characteristics make a good cost drive?:
Fairness and cost control
11.. What are the four steps in the cost allocation
process?: 1. IDENTIFY COST POOL
2. DETERMINE COST DRIVER
3. CALCULATE ALLOCATION RATE
4. DETERMINE ALLOCATION AMOUNT
12.A projected cash flow statement uses..: Cash accounting
13.In accrual accounting, as opposed to cash
,accounting:: Accounts receiv- able are recorded
14. Which of the following is an example of a partnership
Proprietorship?-
: Easy to start/ Easy to form, subject to few regulations, no
income tax
15.The yield to maturity on a bond is the:: Expected rate on
return
16.The coupon rate on a bond is the interest rate
you earn on a bond regardless of the price you
paid:: False
17.Which financial statement is a snapshot of the
organization's financial picture at one point in time?:
Balance Sheet
, 18.Which financial statement presents the activity of
the business for the previous time period?: Statement
of cash flows
19.Which financial statement shows the company's use
and acquisition of funds for a given period of time?:
Income statement
20.Opportunity cost: Return of alternative investment of funds
21.Mrs. Smith purchases taxable bonds that earn
8% interests. If Mrs. Smith's tax rate is 28%, what
is the interest's rate?: 5.76%
22.Mrs. Smith purchases taxable bonds that earn
9% interests. If Mrs. Smith's tax rate is 28%, what
is the interest's rate?: 6.48%
23.What is the primary reason for quality management?:
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