HSM 340 Quiz Week 2, 3 and 7(HSM 340 Health Services Finance- DeVry)HSM 340Week
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HSM 340 Quiz Week 2, 3 and 7(HSM 340 Health Services Finance- DeVry)HSM 340Week 2 Quiz1. Question: (TCO 2)A
statement that reports inflows and outflows of cash during the accounting
period in the categories of operations, investing, and financing, is called
a(an):2. Question: (TCO 2) Which
method(s) of financial reporting does (do) not recognize the impact of changes
in purchasing power?3. Question: (TCO 2) Which of
the following is the BEST example of a financial metric?4. Question: (TCO 2) What
is/(are) the primary determinant(s) of firm value?5. Question: (TCO 2) How are
revenues and expenses defined under accrual accounting?6. Question: (TCO 2) What is
an audit (in the context of financial accounting)?7. Question: (TCO 2) The HC
method, which uses unadjusted historical costs, does not take into account
depreciation expenses, purchasing power, and unrealized gains in replacement
value. Despite these weaknesses as a financial reporting method, the HC method
is used more frequently for accounting purposes than other methods, such as the
HC-GPL, CV, and CV-GPL methods. Why is this so?
8. Question: (TCO 2) Define
and describe the purpose of fund accounting (now called net assets).HSM 340Week 3 Quiz.0001pt;mso-line-height-alt:0pt”>1. Question: (TCO 3) From a
hospital’s perspective, what is most likely to be the highest risk arrangement
with a payer?2. Question: (TCO 3)SKF
Primary Care Clinic is deciding whether to purchase MRI equipment that would
enable it to perform MRI imaging services in-house rather than sending its
patients to its competitor’s hospital three miles away. From a financial
position, if SKF were to make its decision without using net present value
analysis, the clinic would need to know (or at least reasonably estimate) which
of the following information?3. Question: (TCO 3) Assume
that the clinic used the price that they need to exactly break even at 10,000
shots. Fewer people than expected showed up and purchased the flu shot. The
clinic would:4. Question: (TCO 3) Which of
the following is the first step in any budgetary process?5. Question: (TCO 3) David
Jones, the new administrator for a surgical clinic, was trying to determine how
to allocate his indirect expenses. His staff was complaining that the current
method of taking a percentage of revenues was unfair. He decided to try to
allocate utilities based on square footage of each department, administration
based on direct costs, and laboratory based on tests. Use the information in
the chart below to answer the question.6. Question: (TCO 3) Your
hospital has been approached by a major HMO to perform all their MS-DRG 470
cases (major joint procedures). They have offered a flat price of $10,000 per
case. You have reviewed your charges for MS-DRG 470 during the last year and
found the following profile:
7. Question: (TCO 3) How are
costs classified?HSM 340Week 7 Quiz.0001pt;mso-line-height-alt:0pt”>1.
Question: (TCO 7)
Coordination of benefits refers to:2.
Question: (TCO 7) A
withhold is a feature for payment to health care provider that:3.
Question: (TCO 7) A
medical group includes a provision in its contract with an HMO to receive
larger PMPM payments if the HMO members are chronically ill. This type of
provision is referred to as a:4.
Question: (TCO 7) Suppose
that AT&T had made an offer to acquire Merck Pharmaceuticals. Ignoring
potential antitrust problems, this merger would be classified as a:5.
Question: (TCO 7) An HMO
has a Point of Service (POS) option for its members, but will pay only 80
percent of approved charges. If a member goes out of network for a medical
procedure with a charge of $2,000, of which $1,200 is approved, how much must
the member pay?6.
Question: (TCO 7) An
uninsured patient receives services with charges of $5,000 from a hospital. The
hospital staff bills the patient $1,000 and records $4,000 as charity care. If
the hospital’s ratio of cost to charges is 50%, what amount would the hospital
recognize as charity care in Schedule H of IRS Form 990?
7.
Question: (TCO 7) Why is
tax-exempt financing cited as a benefit received by not-for-profit healthcare
providers?.0001pt;mso-line-height-alt:0pt”>.0001pt;mso-line-height-alt:0pt”>HSM 340 Quiz Week 2, 3 and 7(HSM 340 Health Services Finance- DeVry)HSM 340Week 2 Quiz1. Question: (TCO 2)A
statement that reports inflows and outflows of cash during the accounting
period in the categories of operations, investing, and financing, is called
a(an):2. Question: (TCO 2) Which
method(s) of financial reporting does (do) not recognize the impact of changes
in purchasing power?3. Question: (TCO 2) Which of
the following is the BEST example of a financial metric?4. Question: (TCO 2) What
is/(are) the primary determinant(s) of firm value?5. Question: (TCO 2) How are
revenues and expenses defined under accrual accounting?6. Question: (TCO 2) What is
an audit (in the context of financial accounting)?7. Question: (TCO 2) The HC
method, which uses unadjusted historical costs, does not take into account
depreciation expenses, purchasing power, and unrealized gains in replacement
value. Despite these weaknesses as a financial reporting method, the HC method
is used more frequently for accounting purposes than other methods, such as the
HC-GPL, CV, and CV-GPL methods. Why is this so?
8. Question: (TCO 2) Define
and describe the purpose of fund accounting (now called net assets).HSM 340Week 3 Quiz2. Question: (TCO 3)SKF
Primary Care Clinic is deciding whether to purchase MRI equipment that would
enable it to perform MRI imaging services in-house rather than sending its
patients to its competitor’s hospital three miles away. From a financial
position, if SKF were to make its decision without using net present value
analysis, the clinic would need to know (or at least reasonably estimate) which
of the following information?3. Question: (TCO 3) Assume
that the clinic used the price that they need to exactly break even at 10,000
shots. Fewer people than expected showed up and purchased the flu shot. The
clinic would:4. Question: (TCO 3) Which of
the following is the first step in any budgetary process?5. Question: (TCO 3) David
Jones, the new administrator for a surgical clinic, was trying to determine how
to allocate his indirect expenses. His staff was complaining that the current
method of taking a percentage of revenues was unfair. He decided to try to
allocate utilities based on square footage of each department, administration
based on direct costs, and laboratory based on tests. Use the information in
the chart below to answer the question.6. Question: (TCO 3) Your
hospital has been approached by a major HMO to perform all their MS-DRG 470
cases (major joint procedures). They have offered a flat price of $10,000 per
case. You have reviewed your charges for MS-DRG 470 during the last year and
found the following profile:
7. Question: (TCO 3) How are
costs classified?HSM 340Week 7 Quiz2.
Question: (TCO 7) A
withhold is a feature for payment to health care provider that:3.
Question: (TCO 7) A
medical group includes a provision in its contract with an HMO to receive
larger PMPM payments if the HMO members are chronically ill. This type of
provision is referred to as a:4.
Question: (TCO 7) Suppose
that AT&T had made an offer to acquire Merck Pharmaceuticals. Ignoring
potential antitrust problems, this merger would be classified as a:5.
Question: (TCO 7) An HMO
has a Point of Service (POS) option for its members, but will pay only 80
percent of approved charges. If a member goes out of network for a medical
procedure with a charge of $2,000, of which $1,200 is approved, how much must
the member pay?6.
Question: (TCO 7) An
uninsured patient receives services with charges of $5,000 from a hospital. The
hospital staff bills the patient $1,000 and records $4,000 as charity care. If
the hospital’s ratio of cost to charges is 50%, what amount would the hospital
recognize as charity care in Schedule H of IRS Form 990?
7.
Question: (TCO 7) Why is
tax-exempt financing cited as a benefit received by not-for-profit healthcare
providers?
