CSAF Exam Review Questions with Verified
Correct Answers
The contribution margin
The difference between maringal revenue and marginal cost
The break-even point is the level of sales volume of a product producing the exact
amount of
Contribution margin needed to cover fixed costs
Overhead is a common term for
Indirect costs
Activity-based costing is
A method of determining product costs using cost drivers or activity measures that cause
indirect costs to be incurred
Customized standards
Based on detailed time or activity studies within a specific department of a specific
institution.
Predetermined
Arrived at by a group or association of organizations with similar characteristics (for
example, a published relative value scale)
Negotiated
Based on the historical data of the specific institution for which the budget is intended
Which type of cost behavior varies more or less in direct proportion to volume?
,Variable costs
The hospital staffing for a regular acute unit is an example of
Semi-fixed or stepped variable cost
The wage variance is determined by
The "difference in the budgeted and actual average wage per hour" times the "actual paid
hours."
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 amount is
Also favorable
Which of the following is NOT a type of expense variance
Stepped Variable
Contribution margin
the difference between marginal revenue and marginal cost.
The break-even point
the level of sales volume of a product producing the exact amount of contribution margin
needed to cover fixed costs.
Overhead is
a common term for indirect costs. Indirect costs are assigned to a service using some
acceptable allocation method.
Activity-based costing (ABC)
, a method of determining product costs using cost drivers or activity measures, which cause
indirect costs to be incurred.
The three main types of standards costs are as follows:
Predetermined or Synthetic Standard
Negotiated or Historical Standard
Customized or Engineered Standard
The four types of individual cost behaviors are as follows:
Variable Cost
Fixed Cost Pattern
Semi-Variable Cost Pattern
Semi-Fixed or Stepped Variable
The three principal types of expense variance are as follows:
Price Variance
Volume Variance
Efficiency Variance
Which of the following is not one of the current trends moving away from the fee for
service delivery payment system?
Resource Based Relative Value System (RBRVS).
Which type of payment method is intended to cover all services covered under an
encounter (e.g., Joint Replacement) for the beneficiary?
Case rate
Which one of the following options is a managed care product that is easy to evaluate?
Correct Answers
The contribution margin
The difference between maringal revenue and marginal cost
The break-even point is the level of sales volume of a product producing the exact
amount of
Contribution margin needed to cover fixed costs
Overhead is a common term for
Indirect costs
Activity-based costing is
A method of determining product costs using cost drivers or activity measures that cause
indirect costs to be incurred
Customized standards
Based on detailed time or activity studies within a specific department of a specific
institution.
Predetermined
Arrived at by a group or association of organizations with similar characteristics (for
example, a published relative value scale)
Negotiated
Based on the historical data of the specific institution for which the budget is intended
Which type of cost behavior varies more or less in direct proportion to volume?
,Variable costs
The hospital staffing for a regular acute unit is an example of
Semi-fixed or stepped variable cost
The wage variance is determined by
The "difference in the budgeted and actual average wage per hour" times the "actual paid
hours."
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 amount is
Also favorable
Which of the following is NOT a type of expense variance
Stepped Variable
Contribution margin
the difference between marginal revenue and marginal cost.
The break-even point
the level of sales volume of a product producing the exact amount of contribution margin
needed to cover fixed costs.
Overhead is
a common term for indirect costs. Indirect costs are assigned to a service using some
acceptable allocation method.
Activity-based costing (ABC)
, a method of determining product costs using cost drivers or activity measures, which cause
indirect costs to be incurred.
The three main types of standards costs are as follows:
Predetermined or Synthetic Standard
Negotiated or Historical Standard
Customized or Engineered Standard
The four types of individual cost behaviors are as follows:
Variable Cost
Fixed Cost Pattern
Semi-Variable Cost Pattern
Semi-Fixed or Stepped Variable
The three principal types of expense variance are as follows:
Price Variance
Volume Variance
Efficiency Variance
Which of the following is not one of the current trends moving away from the fee for
service delivery payment system?
Resource Based Relative Value System (RBRVS).
Which type of payment method is intended to cover all services covered under an
encounter (e.g., Joint Replacement) for the beneficiary?
Case rate
Which one of the following options is a managed care product that is easy to evaluate?
