MHA 706 COMPREHENSIVE EXAM
QUESTIONS AND CORRECT ANSWERS
STUDY GUIDE
●● Which of the following statement(s) about the fianace department at
large healthcare organizations is/are correct?
Answer: The CFO usually is assisted by a comptroller and treasurer
The CFO typically reports to the chief exective officer (CEO)
The department is headed by the chief financial officer (CFO)
(sometimes called the vice president-finance)
●● In a not-for-profit hospital, the following are example(s) of a
stakeholder
Answer: Vendor
Employee
Community
●● Stockholders have all of the follwoing right(s)..
,Answer: Claim on residual liquidation proceeds
A possible dividend and/or capital gain
Right of control
●● Which of the following statements about finance, accounting, and
financial managment is most correct?
Answer: Financial management provided the theory, concepts, and tools
necessary to help manages make better finanical decisions
●● What is a DISADVANTAGE of being a corportation?
Answer: External reporting
●● Which of the following are not finance activities?
Answer: Facilities management
●● What is NOT an advantage of a proprietorship?
Answer: Unlimited liability
●● A not-for-profit corportation can also be called a 529(b).
Answer: False
, ●● The primary goal of investor owned corportations is shareholder
wealth maximization.
Answer: True
●● Individuals at greater risk of needing health care are more likely to
purchase insurance
Answer: Adverse Section
●● Requires an individual to pay for a certain percentage of the eligible
medcial expenses
Answer: Coinsurance
●● The amount that must be paid out of pocket by the policyholder
before an insurance provider will pay any expenses
Answer: Deductibles
●● The risk of overuse of health services becuase the insured does not
beat the full cost of the consequences
Answer: Moral hazard
●● The fixed amount fo the covered service that the insurer mandates
that the patient pay to the provider before the patient receives services
from the provider
Answer: Copayments
QUESTIONS AND CORRECT ANSWERS
STUDY GUIDE
●● Which of the following statement(s) about the fianace department at
large healthcare organizations is/are correct?
Answer: The CFO usually is assisted by a comptroller and treasurer
The CFO typically reports to the chief exective officer (CEO)
The department is headed by the chief financial officer (CFO)
(sometimes called the vice president-finance)
●● In a not-for-profit hospital, the following are example(s) of a
stakeholder
Answer: Vendor
Employee
Community
●● Stockholders have all of the follwoing right(s)..
,Answer: Claim on residual liquidation proceeds
A possible dividend and/or capital gain
Right of control
●● Which of the following statements about finance, accounting, and
financial managment is most correct?
Answer: Financial management provided the theory, concepts, and tools
necessary to help manages make better finanical decisions
●● What is a DISADVANTAGE of being a corportation?
Answer: External reporting
●● Which of the following are not finance activities?
Answer: Facilities management
●● What is NOT an advantage of a proprietorship?
Answer: Unlimited liability
●● A not-for-profit corportation can also be called a 529(b).
Answer: False
, ●● The primary goal of investor owned corportations is shareholder
wealth maximization.
Answer: True
●● Individuals at greater risk of needing health care are more likely to
purchase insurance
Answer: Adverse Section
●● Requires an individual to pay for a certain percentage of the eligible
medcial expenses
Answer: Coinsurance
●● The amount that must be paid out of pocket by the policyholder
before an insurance provider will pay any expenses
Answer: Deductibles
●● The risk of overuse of health services becuase the insured does not
beat the full cost of the consequences
Answer: Moral hazard
●● The fixed amount fo the covered service that the insurer mandates
that the patient pay to the provider before the patient receives services
from the provider
Answer: Copayments
