NAB Core RCAL Financial Updated Actual
Question and Answer (2026/2027) | A+
Verified
• Medicare Part B . CORRECT ANSWER: The part of the Medicare program that pays
for physician services, outpatient hospital services, durable medical equipment, and
other services and supplies.
• Medicare Part A . CORRECT ANSWER: The part of the Medicare program that pays
for hospitalization, care in a skilled nursing facility, home health care, and hospice care.
• Medicare Part D . CORRECT ANSWER: Prescription drug coverage
• Anti Kickback Law . CORRECT ANSWER: Prohibits the solicitation, receiving,
offering, or paying of any remuneration directly or indirectly in cash or in kind in
exchange.
• Medicaid . CORRECT ANSWER: A federal and state assistance program that pays
for health care services for people who cannot afford them.
• HIPPA Title I . CORRECT ANSWER: protects health insurance coverage for workers
and their families when they lose their jobs. Coverage under COBRA for 18 months
• HIPPA Title II . CORRECT ANSWER: national standards for electronic healthcare
transactions, national identifiers for providers, confidential record keeping, access to
records
• HIPPA CONT . CORRECT ANSWER: W/out consent only for providing treatment,
obtaining payment, performing non treatment operational tasks
• Sarbanes-Oxley Act . CORRECT ANSWER: Truth 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 . CORRECT ANSWER: the difference between the total debits and
the total credits in an account
• Accrued interest payable . CORRECT ANSWER: current liability
• Amoritazation . CORRECT ANSWER: the paying off of a debt in regular installments
over a period of time
, • Assets . CORRECT ANSWER: the cash, inventory, property, plant, and equipment,
and other investments a company has made
• Balance Sheet . CORRECT ANSWER: A financial statement that reports assets,
liabilities, and owner's equity at any given point
• Control Systems . CORRECT ANSWER: Measurement, evaluation and correction.
spenddown
• Cost Creep . CORRECT ANSWER: Increasing of costs (usually labor) as a result of
increased resident acuity without any increase in revenue as an offset.
• Assets . CORRECT ANSWER: Can be liquidated quickly
• Current Ratio . CORRECT ANSWER: current assets - current liabilities
The wider the margin, the sounder your company
• Equities . CORRECT ANSWER: Financial rights to the assets of a business (the bank
or the investors)
• FICA . CORRECT ANSWER: SS TAX
• Fiscal/Calendar year . CORRECT ANSWER: A term that is used to differentiate a
budget or financial year from the calendar year.
• fixed costs/charges . CORRECT ANSWER: Stay the same
• Income Statement . CORRECT ANSWER: Revenues - Expenses = Net Income
• Liabilities . CORRECT ANSWER: Debts
• Net Worth . CORRECT ANSWER: total assets minus total liabilities
• Unearned Revenue . CORRECT ANSWER: Prepayments
• voucher . CORRECT ANSWER: How a liability is recorded
• Working Capital . CORRECT ANSWER: current liabilities-current assests PLUS net
income, depreciation, taxes, proceeds
• GAAP . CORRECT ANSWER: The standards and rules that accountants follow while
recording and reporting financial activities.
• Non-for-profit . CORRECT ANSWER: Mission based, receive contributions
• for-profit . CORRECT ANSWER: Profit based
Question and Answer (2026/2027) | A+
Verified
• Medicare Part B . CORRECT ANSWER: The part of the Medicare program that pays
for physician services, outpatient hospital services, durable medical equipment, and
other services and supplies.
• Medicare Part A . CORRECT ANSWER: The part of the Medicare program that pays
for hospitalization, care in a skilled nursing facility, home health care, and hospice care.
• Medicare Part D . CORRECT ANSWER: Prescription drug coverage
• Anti Kickback Law . CORRECT ANSWER: Prohibits the solicitation, receiving,
offering, or paying of any remuneration directly or indirectly in cash or in kind in
exchange.
• Medicaid . CORRECT ANSWER: A federal and state assistance program that pays
for health care services for people who cannot afford them.
• HIPPA Title I . CORRECT ANSWER: protects health insurance coverage for workers
and their families when they lose their jobs. Coverage under COBRA for 18 months
• HIPPA Title II . CORRECT ANSWER: national standards for electronic healthcare
transactions, national identifiers for providers, confidential record keeping, access to
records
• HIPPA CONT . CORRECT ANSWER: W/out consent only for providing treatment,
obtaining payment, performing non treatment operational tasks
• Sarbanes-Oxley Act . CORRECT ANSWER: Truth 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 . CORRECT ANSWER: the difference between the total debits and
the total credits in an account
• Accrued interest payable . CORRECT ANSWER: current liability
• Amoritazation . CORRECT ANSWER: the paying off of a debt in regular installments
over a period of time
, • Assets . CORRECT ANSWER: the cash, inventory, property, plant, and equipment,
and other investments a company has made
• Balance Sheet . CORRECT ANSWER: A financial statement that reports assets,
liabilities, and owner's equity at any given point
• Control Systems . CORRECT ANSWER: Measurement, evaluation and correction.
spenddown
• Cost Creep . CORRECT ANSWER: Increasing of costs (usually labor) as a result of
increased resident acuity without any increase in revenue as an offset.
• Assets . CORRECT ANSWER: Can be liquidated quickly
• Current Ratio . CORRECT ANSWER: current assets - current liabilities
The wider the margin, the sounder your company
• Equities . CORRECT ANSWER: Financial rights to the assets of a business (the bank
or the investors)
• FICA . CORRECT ANSWER: SS TAX
• Fiscal/Calendar year . CORRECT ANSWER: A term that is used to differentiate a
budget or financial year from the calendar year.
• fixed costs/charges . CORRECT ANSWER: Stay the same
• Income Statement . CORRECT ANSWER: Revenues - Expenses = Net Income
• Liabilities . CORRECT ANSWER: Debts
• Net Worth . CORRECT ANSWER: total assets minus total liabilities
• Unearned Revenue . CORRECT ANSWER: Prepayments
• voucher . CORRECT ANSWER: How a liability is recorded
• Working Capital . CORRECT ANSWER: current liabilities-current assests PLUS net
income, depreciation, taxes, proceeds
• GAAP . CORRECT ANSWER: The standards and rules that accountants follow while
recording and reporting financial activities.
• Non-for-profit . CORRECT ANSWER: Mission based, receive contributions
• for-profit . CORRECT ANSWER: Profit based
