HFMA Certified Specialist Accounting
and Finance (CSAF) | 2025/2026
Edition | Verified Exam Q&A
This document provides expertly verified exam questions and 100% correct answers for
the HFMA Certified Specialist Accounting and Finance (CSAF) Examination, updated for
the 2025/2026 certification period. It covers essential topics including financial
reporting, healthcare accounting principles, budgeting, cost analysis, and regulatory
compliance. Designed to reflect the real exam structure, this resource ensures
comprehensive preparation for achieving CSAF certification.
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. - ,,,answer,,,,..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. - ,,,answer,,,,..B. The
difference between marginal revenue and marginal cost.
Activity-based costing is - ,,,answer,,,,..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
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 - ,,,answer,,,,..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 - ,,,answer,,,,..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 - ,,,answer,,,,..A. Predetermined
Based on the historical data of the specific institution for which the
budget is intended - ,,,answer,,,,..A. Predetermined
**B. Negotiated
C. Customized standards
Based on detailed time or activity studies within a specific department of
a specific institution.
A. Predetermined
B. Negotiated
C. Customized standards - ,,,answer,,,,..C. Customized standards
,Which type of cost behavior varies more or less in direct proportion to
volume? - ,,,answer,,,,..**A. Variable cost
B. Fixed cost
C. Semi-variable cost
D. Semi-fixed cost
The wage variance is determined by: - ,,,answer,,,,..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 -
,,,answer,,,,..**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
D. Stepped Variance - ,,,answer,,,,..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: - ,,,answer,,,,..**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: - ,,,answer,,,,..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? - ,,,answer,,,,..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? - ,,,answer,,,,..A. Capitation
B. Fee schedule
C. Case rate
**D. Fee-for-service
Healthcare providers should develop different modeling tools depending
on ____________. - ,,,answer,,,,..**A. The reimbursement method
proposed in the contract.
B. Whether it will result in additional business.
C. Cost estimates for each scheduled rate
D. What the cost structure would be
Managed care arrangements generally result in providers: -
,,,answer,,,,..A. Receiving, on average, a higher level of reimbursement.
**B. Assuming greater financial risk for the level of services provided.
C. Relaxing their management for the level of services provided.
D. Being fairly and adequately reimbursed for the level of services
provided.
and Finance (CSAF) | 2025/2026
Edition | Verified Exam Q&A
This document provides expertly verified exam questions and 100% correct answers for
the HFMA Certified Specialist Accounting and Finance (CSAF) Examination, updated for
the 2025/2026 certification period. It covers essential topics including financial
reporting, healthcare accounting principles, budgeting, cost analysis, and regulatory
compliance. Designed to reflect the real exam structure, this resource ensures
comprehensive preparation for achieving CSAF certification.
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. - ,,,answer,,,,..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. - ,,,answer,,,,..B. The
difference between marginal revenue and marginal cost.
Activity-based costing is - ,,,answer,,,,..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
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 - ,,,answer,,,,..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 - ,,,answer,,,,..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 - ,,,answer,,,,..A. Predetermined
Based on the historical data of the specific institution for which the
budget is intended - ,,,answer,,,,..A. Predetermined
**B. Negotiated
C. Customized standards
Based on detailed time or activity studies within a specific department of
a specific institution.
A. Predetermined
B. Negotiated
C. Customized standards - ,,,answer,,,,..C. Customized standards
,Which type of cost behavior varies more or less in direct proportion to
volume? - ,,,answer,,,,..**A. Variable cost
B. Fixed cost
C. Semi-variable cost
D. Semi-fixed cost
The wage variance is determined by: - ,,,answer,,,,..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 -
,,,answer,,,,..**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
D. Stepped Variance - ,,,answer,,,,..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: - ,,,answer,,,,..**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: - ,,,answer,,,,..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? - ,,,answer,,,,..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? - ,,,answer,,,,..A. Capitation
B. Fee schedule
C. Case rate
**D. Fee-for-service
Healthcare providers should develop different modeling tools depending
on ____________. - ,,,answer,,,,..**A. The reimbursement method
proposed in the contract.
B. Whether it will result in additional business.
C. Cost estimates for each scheduled rate
D. What the cost structure would be
Managed care arrangements generally result in providers: -
,,,answer,,,,..A. Receiving, on average, a higher level of reimbursement.
**B. Assuming greater financial risk for the level of services provided.
C. Relaxing their management for the level of services provided.
D. Being fairly and adequately reimbursed for the level of services
provided.
