LSUS MHA 706 Midterm Exam – Q’s And A’s
The major provisions of the Patient Protection & Affordable Care Act of
2010 were? Correct Ans - -Banning of preexisting condition
coverage limitations
-Free preventative care
-Medicaid expansion
Which of the following statement(s) about the finance department a t large
healthcare organizations is/are correct? Correct Ans - -The CFO
typically reports directly to the chief executive officer (CEO)
-The CFO is usually assisted by a comptroller and treasurer
-The department is headed by the chief financial officer (CFO) (sometimes
called the vice president-finance)
In a not-for-profit hospital, the following are example(s) of a stakeholder.
Correct Ans - -Vendor
-Employee
-Community
Stockholders have all of the following right(s)... Correct Ans - -
Claim on residual liquidation proceeds
-Right of control
-A possible dividend and/or capital gains
Which of the following statements about finance accounting, and financial
management is most correct? Correct Ans - Financial management
provides the theory, concepts, and tools necessary to help managers make
better financial decisions.
External reporting Correct Ans - What is a DISADVANTAGE of being
a corporation?
Facilities management Correct Ans - Which of the following are not
finance activities?
What is NOT a advantage of proprietorship? Correct Ans -
Unlimited liability
, A not-for-profit corporation can also be called a 529(b). Correct Ans -
False
The primary goal of investor-owned corporations is shareholder wealth
maximization. Correct Ans - True
Copayments Correct Ans - The fixed amount for a covered service
that the insurer mandates that the patient pay to the provider before the
patient receives service from the provider.
Coinsurance Correct Ans - Requires an individual to pay for a
certain percentage of the eligible medical expenses.
Adverse selection Correct Ans - Individuals at greater risk of
needing health care are more likely to purchase insurance.
Deductibles Correct Ans - The amount that must be paid out of
pocket by the policyholder before an insurance provider will pay any
expenses.
Moral hazard Correct Ans - The risk of overuse of health services
because the insured does not bear the full cost of the consequences.
Medicare Part B Correct Ans - Covers physician services,
ambulatory surgical services, outpatient services, and certain other
miscellaneous services.
Medicare Part A Correct Ans - Covers hospital and some skilled
nursing coverage
Medicare Part D Correct Ans - Covers prescription drugs
Medicare Part C Correct Ans - Is often called Medicare Advantage
Charge-Based Correct Ans - Payers pay based off of pre-determined
"chargemaster." These payments are usually discounted up to 20% to 50%.
Cost-Based Correct Ans - Providers were reimbursed for "actual"
costs.
The major provisions of the Patient Protection & Affordable Care Act of
2010 were? Correct Ans - -Banning of preexisting condition
coverage limitations
-Free preventative care
-Medicaid expansion
Which of the following statement(s) about the finance department a t large
healthcare organizations is/are correct? Correct Ans - -The CFO
typically reports directly to the chief executive officer (CEO)
-The CFO is usually assisted by a comptroller and treasurer
-The department is headed by the chief financial officer (CFO) (sometimes
called the vice president-finance)
In a not-for-profit hospital, the following are example(s) of a stakeholder.
Correct Ans - -Vendor
-Employee
-Community
Stockholders have all of the following right(s)... Correct Ans - -
Claim on residual liquidation proceeds
-Right of control
-A possible dividend and/or capital gains
Which of the following statements about finance accounting, and financial
management is most correct? Correct Ans - Financial management
provides the theory, concepts, and tools necessary to help managers make
better financial decisions.
External reporting Correct Ans - What is a DISADVANTAGE of being
a corporation?
Facilities management Correct Ans - Which of the following are not
finance activities?
What is NOT a advantage of proprietorship? Correct Ans -
Unlimited liability
, A not-for-profit corporation can also be called a 529(b). Correct Ans -
False
The primary goal of investor-owned corporations is shareholder wealth
maximization. Correct Ans - True
Copayments Correct Ans - The fixed amount for a covered service
that the insurer mandates that the patient pay to the provider before the
patient receives service from the provider.
Coinsurance Correct Ans - Requires an individual to pay for a
certain percentage of the eligible medical expenses.
Adverse selection Correct Ans - Individuals at greater risk of
needing health care are more likely to purchase insurance.
Deductibles Correct Ans - The amount that must be paid out of
pocket by the policyholder before an insurance provider will pay any
expenses.
Moral hazard Correct Ans - The risk of overuse of health services
because the insured does not bear the full cost of the consequences.
Medicare Part B Correct Ans - Covers physician services,
ambulatory surgical services, outpatient services, and certain other
miscellaneous services.
Medicare Part A Correct Ans - Covers hospital and some skilled
nursing coverage
Medicare Part D Correct Ans - Covers prescription drugs
Medicare Part C Correct Ans - Is often called Medicare Advantage
Charge-Based Correct Ans - Payers pay based off of pre-determined
"chargemaster." These payments are usually discounted up to 20% to 50%.
Cost-Based Correct Ans - Providers were reimbursed for "actual"
costs.
