NAB CORE RCAL-FINANCIAL EXAM
QUESTIONS AND ANSWERS 2026
Medicare Part B - ANSWERSThe part of the Medicare program that pays for physician
services, outpatient hospital services, durable medical equipment, and other services
and supplies.
Medicare Part A - ANSWERSThe part of the Medicare program that pays for
hospitalization, care in a skilled nursing facility, home health care, and hospice care.
Medicare Part D - ANSWERSPrescription drug coverage
Anti Kickback Law - ANSWERSProhibits the solicitation, receiving, offering, or paying of
any remuneration directly or indirectly in cash or in kind in exchange.
Medicaid - ANSWERSA federal and state assistance program that pays for health care
services for people who cannot afford them.
HIPPA Title I - ANSWERSprotects health insurance coverage for workers and their
families when they lose their jobs. Coverage under COBRA for 18 months
HIPPA Title II - ANSWERSnational standards for electronic healthcare transactions,
national identifiers for providers, confidential record keeping, access to records
HIPPA CONT - ANSWERSW/out consent only for providing treatment, obtaining
payment, performing non treatment operational tasks
Sarbanes-Oxley Act - ANSWERSTruth in financial reporting which provides SEC
oversight. Financials checked by independent auditors. Monitor and report internal
controls. Annual assessment due to SEC. CEO/CFO must sign off on all audits.
account balance - ANSWERSthe difference between the total debits and the total
credits in an account
Accrued interest payable - ANSWERScurrent liability
Amoritazation - ANSWERSthe paying off of a debt in regular installments over a period
of time
Assets - ANSWERSthe cash, inventory, property, plant, and equipment, and other
investments a company has made
, Balance Sheet - ANSWERSA financial statement that reports assets, liabilities, and
owner's equity at any given point
Control Systems - ANSWERSMeasurement, evaluation and correction. spenddown
Cost Creep - ANSWERSIncreasing of costs (usually labor) as a result of increased
resident acuity without any increase in revenue as an offset.
Assets - ANSWERSCan be liquidated quickly
Current Ratio - ANSWERScurrent assets - current liabilities
The wider the margin, the sounder your company
Equities - ANSWERSFinancial rights to the assets of a business (the bank or the
investors)
FICA - ANSWERSSS TAX
Fiscal/Calendar year - ANSWERSA term that is used to differentiate a budget or
financial year from the calendar year.
fixed costs/charges - ANSWERSStay the same
Non-for-profit - ANSWERSMission based, receive contributions
for-profit - ANSWERSProfit based
Balance Sheet - ANSWERSa "snapshot" of an organization's financial position at a
given moment
Cash Flow Statement - ANSWERSA financial statement that shows the flow of money
in and out of the business.
Income Statement - ANSWERSA measure of financial flow over time
Balance Sheet - ANSWERSAssets = Liabilities + Stockholders' Equity
Non for profit balance sheet - ANSWERSIs called Statement of financial position
net worth - ANSWERStotal assets minus total liabilities
Income Statement - ANSWERSRevenues - Expenses = Net Income
Liabilities - ANSWERSDebts
Net Worth - ANSWERStotal assets minus total liabilities
QUESTIONS AND ANSWERS 2026
Medicare Part B - ANSWERSThe part of the Medicare program that pays for physician
services, outpatient hospital services, durable medical equipment, and other services
and supplies.
Medicare Part A - ANSWERSThe part of the Medicare program that pays for
hospitalization, care in a skilled nursing facility, home health care, and hospice care.
Medicare Part D - ANSWERSPrescription drug coverage
Anti Kickback Law - ANSWERSProhibits the solicitation, receiving, offering, or paying of
any remuneration directly or indirectly in cash or in kind in exchange.
Medicaid - ANSWERSA federal and state assistance program that pays for health care
services for people who cannot afford them.
HIPPA Title I - ANSWERSprotects health insurance coverage for workers and their
families when they lose their jobs. Coverage under COBRA for 18 months
HIPPA Title II - ANSWERSnational standards for electronic healthcare transactions,
national identifiers for providers, confidential record keeping, access to records
HIPPA CONT - ANSWERSW/out consent only for providing treatment, obtaining
payment, performing non treatment operational tasks
Sarbanes-Oxley Act - ANSWERSTruth in financial reporting which provides SEC
oversight. Financials checked by independent auditors. Monitor and report internal
controls. Annual assessment due to SEC. CEO/CFO must sign off on all audits.
account balance - ANSWERSthe difference between the total debits and the total
credits in an account
Accrued interest payable - ANSWERScurrent liability
Amoritazation - ANSWERSthe paying off of a debt in regular installments over a period
of time
Assets - ANSWERSthe cash, inventory, property, plant, and equipment, and other
investments a company has made
, Balance Sheet - ANSWERSA financial statement that reports assets, liabilities, and
owner's equity at any given point
Control Systems - ANSWERSMeasurement, evaluation and correction. spenddown
Cost Creep - ANSWERSIncreasing of costs (usually labor) as a result of increased
resident acuity without any increase in revenue as an offset.
Assets - ANSWERSCan be liquidated quickly
Current Ratio - ANSWERScurrent assets - current liabilities
The wider the margin, the sounder your company
Equities - ANSWERSFinancial rights to the assets of a business (the bank or the
investors)
FICA - ANSWERSSS TAX
Fiscal/Calendar year - ANSWERSA term that is used to differentiate a budget or
financial year from the calendar year.
fixed costs/charges - ANSWERSStay the same
Non-for-profit - ANSWERSMission based, receive contributions
for-profit - ANSWERSProfit based
Balance Sheet - ANSWERSa "snapshot" of an organization's financial position at a
given moment
Cash Flow Statement - ANSWERSA financial statement that shows the flow of money
in and out of the business.
Income Statement - ANSWERSA measure of financial flow over time
Balance Sheet - ANSWERSAssets = Liabilities + Stockholders' Equity
Non for profit balance sheet - ANSWERSIs called Statement of financial position
net worth - ANSWERStotal assets minus total liabilities
Income Statement - ANSWERSRevenues - Expenses = Net Income
Liabilities - ANSWERSDebts
Net Worth - ANSWERStotal assets minus total liabilities
