Practice Management Institute-CMOM-
Module 1 UPDATED ACTUAL Exam
Questions and CORRECT Answers
Critical areas of the practice (3) - CORRECT ANSWER - Patient Care, Revenue
enhancement, Cost containment
Important vs. Urgent - CORRECT ANSWER - Important eventually becomes urgent. So
strategy is to act on the important before it becomes urgent.
Important things fall under 7 key activities - CORRECT ANSWER - 1. Improving
communications with people.
2. Better preparation
3. better planning and organization
4. Taking better care of onself
5. seizing new opportunists
6. Personal development
7. Empowerment
Time management - CORRECT ANSWER - Set goals. Allow time for reading and
educating. Be informed about the changing heath care industry. Read about the different styles of
managed care contracts. Learn about captation and how to calculate capitation rates. Read. Avoid
taking work home.
10 minutes in the morning and include provider if possible. Time management for employees. -
CORRECT ANSWER - Stand up meeting
Practice Policies and Procedure Manual - CORRECT ANSWER - defines every job
function. Serve as an instruction guide for all employees.
, Praise - CORRECT ANSWER - Offer encouragement and praise profusely, but offer help
only upon request.
Monthly summary gives the provides concise data about the practice activity that can be
reviewed in 10 minutes or less - CORRECT ANSWER - Summary Report
ACT in 1938- requires employers to keep records on wages and hours worked. - CORRECT
ANSWER - Fair Labor Standards Act- FLSA
1. Established minimum wage
Wage records; exempt and non-exempt
2. Regulated child labor
3. Established overtime pay - CORRECT ANSWER - FLSA (Fair Labor Standards Act)
provides the following:
The Department of Labor does not require a special format for wage records as long as they are
easily ascertainable. Should include: Full name of employee, SSN, Address, Sex, DOB, position,
Hours of work, rate of pay, total hours worked per week, total wages for each pay period,
payment date, total amount of additions to or deductions - CORRECT ANSWER - Wage
Records
Employee records must be maintained for a minimum of _ years - CORRECT ANSWER -
3 years
A work week is defined as_ - CORRECT ANSWER - 168 hours during seven consecutive
24 hour periods. It may begin any day of the week. Work week start day must be published.
Pay that is 1.5 times the regular rate of pay. Exceeds 40 hours - CORRECT ANSWER -
OT for non-exempt (hourly pay)
Module 1 UPDATED ACTUAL Exam
Questions and CORRECT Answers
Critical areas of the practice (3) - CORRECT ANSWER - Patient Care, Revenue
enhancement, Cost containment
Important vs. Urgent - CORRECT ANSWER - Important eventually becomes urgent. So
strategy is to act on the important before it becomes urgent.
Important things fall under 7 key activities - CORRECT ANSWER - 1. Improving
communications with people.
2. Better preparation
3. better planning and organization
4. Taking better care of onself
5. seizing new opportunists
6. Personal development
7. Empowerment
Time management - CORRECT ANSWER - Set goals. Allow time for reading and
educating. Be informed about the changing heath care industry. Read about the different styles of
managed care contracts. Learn about captation and how to calculate capitation rates. Read. Avoid
taking work home.
10 minutes in the morning and include provider if possible. Time management for employees. -
CORRECT ANSWER - Stand up meeting
Practice Policies and Procedure Manual - CORRECT ANSWER - defines every job
function. Serve as an instruction guide for all employees.
, Praise - CORRECT ANSWER - Offer encouragement and praise profusely, but offer help
only upon request.
Monthly summary gives the provides concise data about the practice activity that can be
reviewed in 10 minutes or less - CORRECT ANSWER - Summary Report
ACT in 1938- requires employers to keep records on wages and hours worked. - CORRECT
ANSWER - Fair Labor Standards Act- FLSA
1. Established minimum wage
Wage records; exempt and non-exempt
2. Regulated child labor
3. Established overtime pay - CORRECT ANSWER - FLSA (Fair Labor Standards Act)
provides the following:
The Department of Labor does not require a special format for wage records as long as they are
easily ascertainable. Should include: Full name of employee, SSN, Address, Sex, DOB, position,
Hours of work, rate of pay, total hours worked per week, total wages for each pay period,
payment date, total amount of additions to or deductions - CORRECT ANSWER - Wage
Records
Employee records must be maintained for a minimum of _ years - CORRECT ANSWER -
3 years
A work week is defined as_ - CORRECT ANSWER - 168 hours during seven consecutive
24 hour periods. It may begin any day of the week. Work week start day must be published.
Pay that is 1.5 times the regular rate of pay. Exceeds 40 hours - CORRECT ANSWER -
OT for non-exempt (hourly pay)
