NAB EXAM NEWEST 2025 ACTUAL EXAM COMPLETE 200+
QUESTIONS AND VERIFIED ANSWERS ALREADY GRADED
A+
Forms of ownership in nursing homes VERIFIED ANSWER 1. Public
agency
2. Sole proprietorship
3. partnership
4. corporation
What type of ownership bears joint liability? VERIFIED ANSWER
Partnership
Each partner has limited liability under what type of ownership?
VERIFIED ANSWER partnership
There is a unlimited personal liability under what type of ownership?
VERIFIED ANSWER sole proprietorship
A corporation is formed when you file an application for a certificate
with whom? VERIFIED ANSWER secretary of state
An application for corporate certificate must include what? VERIFIED
ANSWER 1. articles of incorporation
2. basic purpose
,3. amount of stock
4. responsible agent
For profit VERIFIED ANSWER a corporation that distributes profits to
shareholders
Trustees VERIFIED ANSWER Those that determine major business
policy for a company
Not for profit VERIFIED ANSWER A corporation that invests profits
back to it's mission
Limited Liability VERIFIED ANSWER A corporation in which
damages and debts are limited to it's assets.
Business judgement rule VERIFIED ANSWER Directors are not liable
for losses incurred because of honest bad judgment.
Wrongful acts VERIFIED ANSWER A director may be a target of law
suits which claim improper discharge of duties.
Director and Officer Insurance VERIFIED ANSWER Type of insurance
that covers individual directors and officers.
,Close Corporations VERIFIED ANSWER Corporation that generally
has a small number of shareholders.
Subchapter S corporation VERIFIED ANSWER Corporation that
features a flow through tax treatment.
Subchapter S VERIFIED ANSWER Corporation with 100 or fewer
shareholders can be treated as
Nursing Home Managers perform these basic functions VERIFIED
ANSWER 1. Planning
2. organizing
3. directing
4. controlling
Mission VERIFIED ANSWER Broad statement of purpose and belief of
an organization
Vision VERIFIED ANSWER Statement telling what the organization
wants to be
Strategic plans VERIFIED ANSWER Used to identify long term goals
Tactical plans VERIFIED ANSWER Used to set short range goals for
immediate needs
, SWOT VERIFIED ANSWER Strength, Weakness, Opportunities,
Threats
Strategic planning VERIFIED ANSWER SWOT analysis is used for this
Organizational chart VERIFIED ANSWER Shows "formal"
interrelationships
Types of authority VERIFIED ANSWER 1. Line
2. staff
3. functional
Line authority VERIFIED ANSWER Supervisors who have direct
authority
Staff authority VERIFIED ANSWER Someone hired or retained to
provide advise
Functional authority VERIFIED ANSWER Certain specialized functions
for which one has responsibility
Important factors in determining staffing VERIFIED ANSWER 1. Span
of control
2. Unity of command
QUESTIONS AND VERIFIED ANSWERS ALREADY GRADED
A+
Forms of ownership in nursing homes VERIFIED ANSWER 1. Public
agency
2. Sole proprietorship
3. partnership
4. corporation
What type of ownership bears joint liability? VERIFIED ANSWER
Partnership
Each partner has limited liability under what type of ownership?
VERIFIED ANSWER partnership
There is a unlimited personal liability under what type of ownership?
VERIFIED ANSWER sole proprietorship
A corporation is formed when you file an application for a certificate
with whom? VERIFIED ANSWER secretary of state
An application for corporate certificate must include what? VERIFIED
ANSWER 1. articles of incorporation
2. basic purpose
,3. amount of stock
4. responsible agent
For profit VERIFIED ANSWER a corporation that distributes profits to
shareholders
Trustees VERIFIED ANSWER Those that determine major business
policy for a company
Not for profit VERIFIED ANSWER A corporation that invests profits
back to it's mission
Limited Liability VERIFIED ANSWER A corporation in which
damages and debts are limited to it's assets.
Business judgement rule VERIFIED ANSWER Directors are not liable
for losses incurred because of honest bad judgment.
Wrongful acts VERIFIED ANSWER A director may be a target of law
suits which claim improper discharge of duties.
Director and Officer Insurance VERIFIED ANSWER Type of insurance
that covers individual directors and officers.
,Close Corporations VERIFIED ANSWER Corporation that generally
has a small number of shareholders.
Subchapter S corporation VERIFIED ANSWER Corporation that
features a flow through tax treatment.
Subchapter S VERIFIED ANSWER Corporation with 100 or fewer
shareholders can be treated as
Nursing Home Managers perform these basic functions VERIFIED
ANSWER 1. Planning
2. organizing
3. directing
4. controlling
Mission VERIFIED ANSWER Broad statement of purpose and belief of
an organization
Vision VERIFIED ANSWER Statement telling what the organization
wants to be
Strategic plans VERIFIED ANSWER Used to identify long term goals
Tactical plans VERIFIED ANSWER Used to set short range goals for
immediate needs
, SWOT VERIFIED ANSWER Strength, Weakness, Opportunities,
Threats
Strategic planning VERIFIED ANSWER SWOT analysis is used for this
Organizational chart VERIFIED ANSWER Shows "formal"
interrelationships
Types of authority VERIFIED ANSWER 1. Line
2. staff
3. functional
Line authority VERIFIED ANSWER Supervisors who have direct
authority
Staff authority VERIFIED ANSWER Someone hired or retained to
provide advise
Functional authority VERIFIED ANSWER Certain specialized functions
for which one has responsibility
Important factors in determining staffing VERIFIED ANSWER 1. Span
of control
2. Unity of command
