HFMA CERTIFIED SPECIALIST
ACCOUNTING AND FINANCE (CSAF) |
EXAM QUESTIONS AND ANSWERS.
VERIFIED 2026.
If a lessee is building up equity in equipment being leased, the lease is:
A. A capital lease.
B. An operating lease.
C. A noncancelable lease.
D. A cancelatable monthly lease agreement. - ANS A. A capital lease.
Contribution margin is:
A. The difference between marginal revenue and the break-even point.
B. The difference between marginal revenue and marginal cost.
C. Where marginal revenue equals marginal cost.
D.the point where fixed cost produces a profit. - ANS B. The difference between marginal
revenue and marginal cost.
Activity-based costing is - ANS A. Another term for the proportional allocation method
**B. A method of determining product costs using cost drivers or activity measures that cause
indirect costs to be incurred
C. Less expensive to determine due to the necessary data collection
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
1
,D. Generally considered a less accurate costing method
The break-even point is the level of sales volume of a product producing the exact amount of
_____________.
A. Contribution margin needed to cover fixed costs
B. Incremental cost needed to cover fixed costs
C. Contribution margin needed to cover incremental costs
D. Contribution margin needed to cover all costs - ANS A. Contribution margin needed to
cover fixed costs
Overhead is a common term for
A. Direct Costs
B. Variable Costs
C. Fixed Costs
D. Indirect Costs - ANS D. Indirect Costs
Arrived at by a group or association of organizations with similar characteristics (for example, a
published relative value scale).
A. Predetermined
B. Negotiated
C. Customized standards - ANS A. Predetermined
Based on the historical data of the specific institution for which the budget is intended -
ANS A. Predetermined
**B. Negotiated
C. Customized standards
Based on detailed time or activity studies within a specific department of a specific institution.
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
2
,A. Predetermined
B. Negotiated
C. Customized standards - ANS C. Customized standards
Which type of cost behavior varies more or less in direct proportion to volume? - ANS **A.
Variable cost
B. Fixed cost
C. Semi-variable cost
D. Semi-fixed cost
The wage variance is determined by: - ANS A. The "difference in the actual and budgeted
paid hours" times the "budgeted wage rate."
B. The "budgeted units of service" times the "budgeted labor hours per unit of service" times
the "actual average wage rate per hour."
C. The variance in the "labor hours per unit of service" times the "actual units of service" times
the "budgeted average wage rate."
**D. The "difference in the budgeted and actual average wage per hour" times the "actual paid
hours."
The hospital staffing for a regular acute unit is an example of - ANS **A. Semi-fixed or
stepped variable cost
B. Variable cost
C. Fixed cost
D. A fixed cost pattern
Which of the following is NOT a type of expense variance?
A. Price Variance
B. Volume Variance
C. Efficiency Variance
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
3
, D. Stepped Variance - ANS D. Stepped Variable
When a hospital's actual patient census is greater than budgeted, the management views this as
favorable. Generally, the effect on the actual expenses being less than the budgeted amounts is:
- ANS **A. Also favorable
B. Unfavorable
C. Mostly favorable
D. A positive volume variance
Which of the following is not one of the current trends moving away from the fee for service
delivery payment system: - ANS A. MIPS
B. Comprehensive Care for Joint Replacement (CJR)
C. Accountable Care Organizations (ACO)
**D. Resource Based Relative Value System (RBRVS)
Which type of payment method is intended to cover all inpatient services utilized for each
procedure (e.g., joint replacement) while the beneficiary is in the hospital? - ANS A. Fee-for-
service
B. Per diem rate
**C. Case rate
D. Capitation
Which one of the following options is a managed care product that is easy to evaluate? -
ANS A. Capitation
B. Fee schedule
C. Case rate
**D. Fee-for-service
Healthcare providers should develop different modeling tools depending on ____________. -
ANS **A. The reimbursement method proposed in the contract.
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
4
ACCOUNTING AND FINANCE (CSAF) |
EXAM QUESTIONS AND ANSWERS.
VERIFIED 2026.
If a lessee is building up equity in equipment being leased, the lease is:
A. A capital lease.
B. An operating lease.
C. A noncancelable lease.
D. A cancelatable monthly lease agreement. - ANS A. A capital lease.
Contribution margin is:
A. The difference between marginal revenue and the break-even point.
B. The difference between marginal revenue and marginal cost.
C. Where marginal revenue equals marginal cost.
D.the point where fixed cost produces a profit. - ANS B. The difference between marginal
revenue and marginal cost.
Activity-based costing is - ANS A. Another term for the proportional allocation method
**B. A method of determining product costs using cost drivers or activity measures that cause
indirect costs to be incurred
C. Less expensive to determine due to the necessary data collection
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
1
,D. Generally considered a less accurate costing method
The break-even point is the level of sales volume of a product producing the exact amount of
_____________.
A. Contribution margin needed to cover fixed costs
B. Incremental cost needed to cover fixed costs
C. Contribution margin needed to cover incremental costs
D. Contribution margin needed to cover all costs - ANS A. Contribution margin needed to
cover fixed costs
Overhead is a common term for
A. Direct Costs
B. Variable Costs
C. Fixed Costs
D. Indirect Costs - ANS D. Indirect Costs
Arrived at by a group or association of organizations with similar characteristics (for example, a
published relative value scale).
A. Predetermined
B. Negotiated
C. Customized standards - ANS A. Predetermined
Based on the historical data of the specific institution for which the budget is intended -
ANS A. Predetermined
**B. Negotiated
C. Customized standards
Based on detailed time or activity studies within a specific department of a specific institution.
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
2
,A. Predetermined
B. Negotiated
C. Customized standards - ANS C. Customized standards
Which type of cost behavior varies more or less in direct proportion to volume? - ANS **A.
Variable cost
B. Fixed cost
C. Semi-variable cost
D. Semi-fixed cost
The wage variance is determined by: - ANS A. The "difference in the actual and budgeted
paid hours" times the "budgeted wage rate."
B. The "budgeted units of service" times the "budgeted labor hours per unit of service" times
the "actual average wage rate per hour."
C. The variance in the "labor hours per unit of service" times the "actual units of service" times
the "budgeted average wage rate."
**D. The "difference in the budgeted and actual average wage per hour" times the "actual paid
hours."
The hospital staffing for a regular acute unit is an example of - ANS **A. Semi-fixed or
stepped variable cost
B. Variable cost
C. Fixed cost
D. A fixed cost pattern
Which of the following is NOT a type of expense variance?
A. Price Variance
B. Volume Variance
C. Efficiency Variance
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
3
, D. Stepped Variance - ANS D. Stepped Variable
When a hospital's actual patient census is greater than budgeted, the management views this as
favorable. Generally, the effect on the actual expenses being less than the budgeted amounts is:
- ANS **A. Also favorable
B. Unfavorable
C. Mostly favorable
D. A positive volume variance
Which of the following is not one of the current trends moving away from the fee for service
delivery payment system: - ANS A. MIPS
B. Comprehensive Care for Joint Replacement (CJR)
C. Accountable Care Organizations (ACO)
**D. Resource Based Relative Value System (RBRVS)
Which type of payment method is intended to cover all inpatient services utilized for each
procedure (e.g., joint replacement) while the beneficiary is in the hospital? - ANS A. Fee-for-
service
B. Per diem rate
**C. Case rate
D. Capitation
Which one of the following options is a managed care product that is easy to evaluate? -
ANS A. Capitation
B. Fee schedule
C. Case rate
**D. Fee-for-service
Healthcare providers should develop different modeling tools depending on ____________. -
ANS **A. The reimbursement method proposed in the contract.
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
4
