Healthcare Financial Management Association
HFMA
HFMA Healthcare Financial Management Association
Certification Exam
HFMA Professional Certification Exams
Course Title and Number: HFMA Certification Exams
Exam Title: Midterm, Finals, Certification and Assessment
Exam Date: Exam 2025- 2026
Instructor: ____ [Insert Instructor’s Name] _______
Student Name: ___ [Insert Student’s Name] _____
Student ID: ____ [Insert Student ID] _____________
Examination
Time: - ____ Hours: ___ Minutes
Instructions:
1. Read each question carefully and Answer All Questions
2. Use the provided answer sheet to mark your responses.
3. Please Ensure all you answer each question below and click Submit
when you have completed the Exam.
4. This test has a time limit, The test will save and submit automatically
when the time expires
5. This is Exam which will assess your knowledge on the course
Learning Resources.
Good Luck……...!
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HFMA Certification Exam Comprehensive Review HFMA
Certified Healthcare Financial Management Association HFMA
Exam Questions and Answers | 100% Pass Guaranteed | Graded
A+ |
2025- 2026
HFMA Healthcare Financial Management Association
Certification Exam
HFMA Professional Certifications
Healthcare Financial Management Association HFMA.
Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
Example of service line costing - =Answer>> For example,
the resources consumed by a cardiac patient in an imaging
department are considerably more than the resources
consumed by a patient with pneumonia
Profitability analysis of service line costing-several objectives -
=Answer>> 1)shift financial analysis toward the major lines
2)determine the advantages or disadvantages of being in that
product line
3)emphasize or de-emphasize certain services
4)determine data for use in benchmarking among clinical
specialties
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Important ***** product line costing - =Answer>> Product
line costing can also be useful in assessing the profitability of a
proposed managed care contract and in developing carve out
rates for specific types of cases (for example open heart
surgeries and bone marrow transplants)
Identify the 3 main types of standards - =Answer>>
Learning objective
Responsibility accounting - =Answer>> The assignment or
allocation of cost to the individual manager who is primarily
responsible for making decisions a bout those costs. Once the
primary responsibility for incurring a specific cost has been
established, various management reports such as departmental
expense reports can be developed to assess a managers
effectiveness.
Intro to standard costing system
2 principal uses for cost accounting: assist with price
negotiations and identify opportunities to enhance financial
performance. - =Answer>> Cost accounting is used for
management decision making . Th better the cost info the
better the decision making
Standard costing systems - =Answer>> 1)predetermined or
synthetic standard-arrived at by a group or association of
organizations with similar characteristics (for example a
published relative value scale)
2)negotiated or historical standard-based on historical data of
the specific institution for which the budget is intended
3)customized or engineered standard-based on detailed time or
activity studies within a specific department of a specific
institution
Adv and disadvantage of predetermined or synthetic standard -
=Answer>> Advantages
Minimal development
Ease of development and implementation
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Not based on specific items and not specific to an individual
facility
Disadvantages
Not customized thus less precise
Not as well accepted
May not be applicable directly to an individual with in a specific
facility
Advantages and disadvantages of negotiated or historical
standard - =Answer>> Advantages
Easy to develope
Less expensive
Less disruptive than a customized standard
Department involvement and understanding may be better
than with a predetermined standard, but less than with a
customized standard
Disadvantages
Less precise than customized standards
Difficult to obtain agreement for change predictions based on
historical results
Advantages and disadvantages customized or engineered
standard - =Answer>> Advantages
More precise
More supportable by individual data specific to the entity
Offer the opportunity for departmental improvement becuase
they are based on actual activity or procedure at hand
Disadvantages
Very expensive
Time consuming to develope
Difficult to understand
Obj: to recognize the four types of individual cost behaviors -
=Answer>>
Variable cost - =Answer>> -responds, in total more or less
in direct proportion to changes in volume
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HFMA
HFMA Healthcare Financial Management Association
Certification Exam
HFMA Professional Certification Exams
Course Title and Number: HFMA Certification Exams
Exam Title: Midterm, Finals, Certification and Assessment
Exam Date: Exam 2025- 2026
Instructor: ____ [Insert Instructor’s Name] _______
Student Name: ___ [Insert Student’s Name] _____
Student ID: ____ [Insert Student ID] _____________
Examination
Time: - ____ Hours: ___ Minutes
Instructions:
1. Read each question carefully and Answer All Questions
2. Use the provided answer sheet to mark your responses.
3. Please Ensure all you answer each question below and click Submit
when you have completed the Exam.
4. This test has a time limit, The test will save and submit automatically
when the time expires
5. This is Exam which will assess your knowledge on the course
Learning Resources.
Good Luck……...!
📝
Are you Struggling with University Exams or Job Certification
Assessments?? 📌I Got You Covered 💯.!!!
✍I Specialize in Taking the Exam On your Behalf.
💻 Get Professional Exam Assistance with 100% Pass
Guaranteed.⏬ GET STARTED HERE CLICK LINK BELOW ⏬
https://yourassignmenthandlers.ck.page/92498b9b86
, I can Help BYPASS PROCTORED EXAM 📑
📱Hit Me UP__ Inbox Open 24/7 – 365 …...!!!!
💬 Chat with us here: 📧
Click Here To <<ORDER NOW >> Follow Link
https://yourassignmenthandlers.kit.com/93b2309b47
!!!.ORDER NOW.!!! << TO GET INSTANT EXPERT HELP >> !!!.ORDER
NOW.!!!
HFMA Certification Exam Comprehensive Review HFMA
Certified Healthcare Financial Management Association HFMA
Exam Questions and Answers | 100% Pass Guaranteed | Graded
A+ |
2025- 2026
HFMA Healthcare Financial Management Association
Certification Exam
HFMA Professional Certifications
Healthcare Financial Management Association HFMA.
Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
Example of service line costing - =Answer>> For example,
the resources consumed by a cardiac patient in an imaging
department are considerably more than the resources
consumed by a patient with pneumonia
Profitability analysis of service line costing-several objectives -
=Answer>> 1)shift financial analysis toward the major lines
2)determine the advantages or disadvantages of being in that
product line
3)emphasize or de-emphasize certain services
4)determine data for use in benchmarking among clinical
specialties
Need Writing 📝Help? We've Got You Covered! ✍️
100% NO A I or Plagiarism Guaranteed🎯
💬 Chat with us here: 📧
, I can Help BYPASS PROCTORED EXAM 📑
📱Hit Me UP__ Inbox Open 24/7 – 365 …...!!!!
💬 Chat with us here: 📧
Important ***** product line costing - =Answer>> Product
line costing can also be useful in assessing the profitability of a
proposed managed care contract and in developing carve out
rates for specific types of cases (for example open heart
surgeries and bone marrow transplants)
Identify the 3 main types of standards - =Answer>>
Learning objective
Responsibility accounting - =Answer>> The assignment or
allocation of cost to the individual manager who is primarily
responsible for making decisions a bout those costs. Once the
primary responsibility for incurring a specific cost has been
established, various management reports such as departmental
expense reports can be developed to assess a managers
effectiveness.
Intro to standard costing system
2 principal uses for cost accounting: assist with price
negotiations and identify opportunities to enhance financial
performance. - =Answer>> Cost accounting is used for
management decision making . Th better the cost info the
better the decision making
Standard costing systems - =Answer>> 1)predetermined or
synthetic standard-arrived at by a group or association of
organizations with similar characteristics (for example a
published relative value scale)
2)negotiated or historical standard-based on historical data of
the specific institution for which the budget is intended
3)customized or engineered standard-based on detailed time or
activity studies within a specific department of a specific
institution
Adv and disadvantage of predetermined or synthetic standard -
=Answer>> Advantages
Minimal development
Ease of development and implementation
Need Writing 📝Help? We've Got You Covered! ✍️
100% NO A I or Plagiarism Guaranteed🎯
💬 Chat with us here: 📧
, I can Help BYPASS PROCTORED EXAM 📑
📱Hit Me UP__ Inbox Open 24/7 – 365 …...!!!!
💬 Chat with us here: 📧
Not based on specific items and not specific to an individual
facility
Disadvantages
Not customized thus less precise
Not as well accepted
May not be applicable directly to an individual with in a specific
facility
Advantages and disadvantages of negotiated or historical
standard - =Answer>> Advantages
Easy to develope
Less expensive
Less disruptive than a customized standard
Department involvement and understanding may be better
than with a predetermined standard, but less than with a
customized standard
Disadvantages
Less precise than customized standards
Difficult to obtain agreement for change predictions based on
historical results
Advantages and disadvantages customized or engineered
standard - =Answer>> Advantages
More precise
More supportable by individual data specific to the entity
Offer the opportunity for departmental improvement becuase
they are based on actual activity or procedure at hand
Disadvantages
Very expensive
Time consuming to develope
Difficult to understand
Obj: to recognize the four types of individual cost behaviors -
=Answer>>
Variable cost - =Answer>> -responds, in total more or less
in direct proportion to changes in volume
Need Writing 📝Help? We've Got You Covered! ✍️
100% NO A I or Plagiarism Guaranteed🎯
💬 Chat with us here: 📧
