Page | 1
HFMA'S CSAF 2025 BRAND NEW
ACTUAL EXAM WITH QUESTIONS
AND ANSWERS.
1. 3 Exclusions to unrelated trade or business: - correct answer -
Without compensation; for convenience of members students,
patients, officers, or employees; selling merchandise.
2. AICPA's Audit of Providers of Health Care Guide identifies -
correct answer -methods for quantifying and valuing
uncompensated care.
3. Four IRS tax-exempt status conditions: - correct answer -
Existence of a governing board, Separate boards for multi-
entity systems, full-time emergency room, open admission of
medical staff to physicians in area
4. Occurrence basis of malpractice claims - correct answer -all
incidents occurring within the period are covered, reported or
not
, Page | 2
5. Claims-made basis of malpractice claims - correct answer -
incidents are covered in period identified and reported
6. First objective of risk management - correct answer -Prevent or
avoid the loss
7. Second objective of risk management - correct answer -
Minimize the cost of financing the risk
8. 3 Costs of risk management - correct answer -Value lost from
incidents, opportunities passed as too risky, cost of
administering risk management
9. 3 Benefits of risk management - correct answer -Reduced cost
of risk, less disruption, more productive use of resources
10. Asserted claim - correct answer -Legal actions against
provider seeking financial remedy
, Page | 3
11. Unasserted claim - correct answer -A malpractice claim may
arise in the future (both reported and unreported)
12. Tail coverage - correct answer -covers malpractice claims
incurred before but reported after end of claims-made
coverage.
13. Form 990 purpose - correct answer -provide to IRS and
public the tax-exempt organization's programs
14. Reportable compensation includes: - correct answer -base
salary, incentive & bonus payments, severance, non-qualified
deferred compensation, tax indemnification and gross up
payments, expense reimbursement, fringe benefits, club dues
and fees
15. 3 healthcare enterprises - correct answer -Investor-owned,
not-for-profit, governmental
HFMA'S CSAF 2025 BRAND NEW
ACTUAL EXAM WITH QUESTIONS
AND ANSWERS.
1. 3 Exclusions to unrelated trade or business: - correct answer -
Without compensation; for convenience of members students,
patients, officers, or employees; selling merchandise.
2. AICPA's Audit of Providers of Health Care Guide identifies -
correct answer -methods for quantifying and valuing
uncompensated care.
3. Four IRS tax-exempt status conditions: - correct answer -
Existence of a governing board, Separate boards for multi-
entity systems, full-time emergency room, open admission of
medical staff to physicians in area
4. Occurrence basis of malpractice claims - correct answer -all
incidents occurring within the period are covered, reported or
not
, Page | 2
5. Claims-made basis of malpractice claims - correct answer -
incidents are covered in period identified and reported
6. First objective of risk management - correct answer -Prevent or
avoid the loss
7. Second objective of risk management - correct answer -
Minimize the cost of financing the risk
8. 3 Costs of risk management - correct answer -Value lost from
incidents, opportunities passed as too risky, cost of
administering risk management
9. 3 Benefits of risk management - correct answer -Reduced cost
of risk, less disruption, more productive use of resources
10. Asserted claim - correct answer -Legal actions against
provider seeking financial remedy
, Page | 3
11. Unasserted claim - correct answer -A malpractice claim may
arise in the future (both reported and unreported)
12. Tail coverage - correct answer -covers malpractice claims
incurred before but reported after end of claims-made
coverage.
13. Form 990 purpose - correct answer -provide to IRS and
public the tax-exempt organization's programs
14. Reportable compensation includes: - correct answer -base
salary, incentive & bonus payments, severance, non-qualified
deferred compensation, tax indemnification and gross up
payments, expense reimbursement, fringe benefits, club dues
and fees
15. 3 healthcare enterprises - correct answer -Investor-owned,
not-for-profit, governmental
