CMPE QUICK QUIZ-SAMPLE MULTIPLE QUESTIONS
Which of the following is NOT considered an effective step in developing a procedure
manual? - Answer -Appointing a staff member to write all procedures
Which of the following plans should be developed for each functional area within an
organization? - Answer -Operational Plan
What is materials management? - Answer -Maintaining an appropriate level of supplies
at an acceptable cost and having them available when needed.
Which of the following define just-in-time inventory? - Answer -Supplies that arrive
when you need them.
What is the best approach when planning for future space needs for a medical practice?
- Answer -Design a layout that provides for maximum flexibility at a reasonable cost.
What is target marketing? - Answer -A broad array of research efforts used to
understand the nuances of a particular market.
The responsibilities of a medical practice executive include identifying, assessing, and
addressing new legal and financial issues. The successful executives should: - Answer
-Contact an appropriate advisor first.
What is marketing mix? - Answer -Product/service, price, promotion, and place (4 Ps)
Who is a stakeholder in the medical practice? - Answer -Anyone affected by the
medical practice.
In a cash basis accounting system, capital equipment purchases are recorded as which
of the following: - Answer -debit equipment, credit cash
In planning cash reserves for a medical practices annual operating budget, which of the
following should be done? - Answer -budget at least 30 days cash on hand.
What is the primary purpose of developing a policy on internal control of cash? -
Answer -to protect cash collections from theft or fraud.
Which of the following steps will NOT reduce the risk of fraud or embezzlement? -
Answer -Ensure that employees who handle cash disbursements also prepare
accounting.
What does an efficient accounts receivable management process focus? - Answer -The
initial encounter.
, Which of the following applies to the Medicare resource based relative value scale? -
Answer -Physician Fee schedule under Medicare Part B
Which of the following is NOT essential to effectively manage accounts receivable? -
Answer -electronic remittance
How are bad debts determined? - Answer -When an account is determined to be
uncollectable.
What is the fundamental purpose of a medical practice income statement? - Answer -
To summarize the event that took place during an accounting period.
Which if the following is NOT a Generally Accepted Accounting Principle? - Answer -
There is a direct relationship between the cost of a long lived asset and the revenue
generated by the asset.
Which of the following is NOT a characteristic of an effective financial operating report?
- Answer -Extensiveness
Which of the following is an element in the financial investigation for due diligence in a
practice valuation? - Answer -Assessment of payor mix
Which of the following employee payroll withholdings is capped at the federal wage
base? - Answer -Social Security tax
Which of the following is not typically considered by banks when evaluating business
loan applications - Answer -Personal character of the borrower
What type of firm would you contact for help in determining capitation rates - Answer -
Actuarial
Capitation - Answer -A payment arrangement for healthcare service providers, PA, NP.
A set amount per person for an amount of time. Regardless if the patient seeks care.
ACO - Answer -Organization or several organizations they tie the payments to the
quality metrics and the cost of care
Actuary - Answer -business professional that deals with measurement and
management of risk and uncertainty within
What is the carve out provision in a managed care contract - Answer -Excluding certain
services from general capitation payments
What are the service areas most often defines by managed care? - Answer -
Demographic mix
Which of the following is NOT considered an effective step in developing a procedure
manual? - Answer -Appointing a staff member to write all procedures
Which of the following plans should be developed for each functional area within an
organization? - Answer -Operational Plan
What is materials management? - Answer -Maintaining an appropriate level of supplies
at an acceptable cost and having them available when needed.
Which of the following define just-in-time inventory? - Answer -Supplies that arrive
when you need them.
What is the best approach when planning for future space needs for a medical practice?
- Answer -Design a layout that provides for maximum flexibility at a reasonable cost.
What is target marketing? - Answer -A broad array of research efforts used to
understand the nuances of a particular market.
The responsibilities of a medical practice executive include identifying, assessing, and
addressing new legal and financial issues. The successful executives should: - Answer
-Contact an appropriate advisor first.
What is marketing mix? - Answer -Product/service, price, promotion, and place (4 Ps)
Who is a stakeholder in the medical practice? - Answer -Anyone affected by the
medical practice.
In a cash basis accounting system, capital equipment purchases are recorded as which
of the following: - Answer -debit equipment, credit cash
In planning cash reserves for a medical practices annual operating budget, which of the
following should be done? - Answer -budget at least 30 days cash on hand.
What is the primary purpose of developing a policy on internal control of cash? -
Answer -to protect cash collections from theft or fraud.
Which of the following steps will NOT reduce the risk of fraud or embezzlement? -
Answer -Ensure that employees who handle cash disbursements also prepare
accounting.
What does an efficient accounts receivable management process focus? - Answer -The
initial encounter.
, Which of the following applies to the Medicare resource based relative value scale? -
Answer -Physician Fee schedule under Medicare Part B
Which of the following is NOT essential to effectively manage accounts receivable? -
Answer -electronic remittance
How are bad debts determined? - Answer -When an account is determined to be
uncollectable.
What is the fundamental purpose of a medical practice income statement? - Answer -
To summarize the event that took place during an accounting period.
Which if the following is NOT a Generally Accepted Accounting Principle? - Answer -
There is a direct relationship between the cost of a long lived asset and the revenue
generated by the asset.
Which of the following is NOT a characteristic of an effective financial operating report?
- Answer -Extensiveness
Which of the following is an element in the financial investigation for due diligence in a
practice valuation? - Answer -Assessment of payor mix
Which of the following employee payroll withholdings is capped at the federal wage
base? - Answer -Social Security tax
Which of the following is not typically considered by banks when evaluating business
loan applications - Answer -Personal character of the borrower
What type of firm would you contact for help in determining capitation rates - Answer -
Actuarial
Capitation - Answer -A payment arrangement for healthcare service providers, PA, NP.
A set amount per person for an amount of time. Regardless if the patient seeks care.
ACO - Answer -Organization or several organizations they tie the payments to the
quality metrics and the cost of care
Actuary - Answer -business professional that deals with measurement and
management of risk and uncertainty within
What is the carve out provision in a managed care contract - Answer -Excluding certain
services from general capitation payments
What are the service areas most often defines by managed care? - Answer -
Demographic mix
