4055 Final Exam UPDATED Exam Questions and CORRECT Answers
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Course
4055
Institution
4055
4055 Final Exam UPDATED Exam
Questions and CORRECT Answers
A considerable barrier to obtaining insurance for young adults was originally addressed with
the ACA in the mandatory requirement of insurance for all. To that end, the law specifically
provided - Correct Answer- coverage for young a...
4055 Final Exam UPDATED Exam
Questions and CORRECT Answers
A considerable barrier to obtaining insurance for young adults was originally addressed with
the ACA in the mandatory requirement of insurance for all. To that end, the law specifically
provided - Correct Answer- coverage for young adults between 19 and 26 on their parents'
policies.
ACA stipulates which of the following entities are eligible to participate as ACOs: - Correct
Answer- All the above
Which of the following statements about regulatory and legal issues is most correct? - Correct
Answer- For most providers, the primary legal concern is professional liability.
Which of the following statements about the finance department at a large healthcare
organization is most correct? - Correct Answer- All of the above statements are correct.
True or false: The role of finance in healthcare organizations has increased in importance
over time because the finance function must support a multitude of activities such as cost
containment, payer negotiations, and joint venture activities. - Correct Answer- True
Which of the following statements about healthcare providers is incorrect? - Correct Answer-
There are many more hospitals than there are nursing homes, but nursing homes tend to have
a greater number of beds.
Those with generous insurance plans tend to utilize health care resources therefore to rein in
costs; the ACA limits insurance companies to spend percentages of premiums on
reimbursable services and activities. - Correct Answer- True
The Patient Protection and Affordable Care Act (ACA) is also known as Obamacare because
it was legislated during the presidency of President Barak Obama. - Correct Answer- True
The structure of the U.S. healthcare system has five principal components. An example of
delivery services would be - Correct Answer- basic diagnostic and preventative treatment by
primary care providers.
,Which of the following is not a finance activity? - Correct Answer- Facilities management
Key stakeholders in the health care system include providers, nurses, suppliers, hospitals, and
retail clinics. - Correct Answer- True
The ACA positively impacted nurses by expanding opportunities in which of the following -
Correct Answer- A and B
The single largest payer group for health care services is - Correct Answer- Government
The ACA was challenged in court in 2010 when over 25 states sued the Federal government
and lost over the constitutionality of the individual mandates and Medicaid expansion -
Correct Answer- True
In the United States, the highest proportion of healthcare expenditures is for
_______________. - Correct Answer- hospital care
The ACA is to be phased in over 10 years. The initial impetus and primary focus of the ACA
was - Correct Answer- All of the above
True or false: The four Cs (character, capability, charisma, and courtesy) as described in the
textbook summarize the attributes needed to be a good financial manager. - Correct Answer-
False
The U.S. government is a major stakeholder and participant in health care as payer, provider,
and supporter of research, education, and training. - Correct Answer- True
True or false: Many studies have demonstrated that integrated delivery systems are able to
provide higher-quality care at lower cost than can stand-alone specialized provider
organizations. - Correct Answer- False
Which of the following statements about finance, accounting, or financial management is
most correct? - Correct Answer- The primary role of finance is to plan for, acquire, and use
resources to maximize the efficiency (and value) of the enterprise.
, Which of the following statements about hospitals is most correct? - Correct Answer- The
majority of hospitals are public or not-for-profit (as opposed to investor owned).
Key stakeholders in the health care system include providers who are identified as persons
and organizations that deliver health care services to patients. All the following are providers
except - Correct Answer- suppliers, consumers, and regulators.
Which of the following activities are business characteristics? - Correct Answer- The entity
raises money in the capital markets.
It uses money raised to purchase assets such as land, buildings, and equipment.
It uses the purchased assets to create goods and/or services.
It sustains itself financially by selling the goods and/or services produced.
*All of the above are business characteristics.*
Which of the following statements about the legal forms of for-profit business organization is
most correct? - Correct Answer- Corporations have the advantage of limited liability to
owners.
Which of the following statements about investor-owned (for-profit) corporations is
incorrect? - Correct Answer- When an individual sells his or her stock, the company receives
the proceeds from the sale.
Which of the following statements about not-for-profit corporations is most correct? - Correct
Answer- They can issue tax-exempt (municipal) debt.
Which of the following individuals are not stakeholders in not-for-profit corporations? -
Correct Answer- Stockholders
Assume that Jane Adams pays income taxes at a 35 percent rate. What would be the after-tax
amount on $100 of interest income that she receives? - Correct Answer- $65
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