ACCREDITED TEST BANK SOLUTION FOR
GAPENSKIS FUNDAMENTALS OF HEALTHCARE
FINANCE EXAM 2026 COMPLETE QUESTIONS
AND ANSWERS
◉ accounting. Answer: planning, recording, analyzing, and
interpreting financial information
-measurement in financial terms of events that reflect the resources,
operations and financing of an organization.
◉ financial Management. Answer: theory, concepts, and tools
necessary to help managers make better financial decisions.
◉ Role of finance. Answer: to plan for, acquire, and use resources to
maximize the efficiency of the enterprise
◉ finance activities. Answer: -planning and budgeting
-managing financial operations
-financing decisions
-capital investment decisions
-financial reporting
-financial and operational analysis
,◉ financial staff functions. Answer: -contract management
-financial risk management
◉ Four C's. Answer: Costs-must be continuously monitored
Cash-must has sufficient on hand to meet obligations.
Capital-raise the capital necessary to buy facilities and equipment
Control- control resources to ensure used wisely.
◉ Capitation. Answer: -payment tied to number of covered lives on
the plan.
-Payment to providers made on per member per month
-
◉ Fee for Service. Answer: tied to
-cost based
-charge based
-prospective payment
◉ underlying cost structure. Answer: relationship between costs
and volume of services provided
, ◉ fixed costs. Answer: independent of volume
◉ variable costs. Answer: depend on volume
◉ long-run. Answer: all costs are variable,
◉ short-run. Answer: A period during which at least one of a firm's
resources is fixed (say for one year)
◉ Direct costs. Answer: costs unique and exclusive to the sub unit-
(hands on costs of the process)
◉ Indirect costs. Answer: costs associated with shared resources
and are not directly related to the process.
◉ Cost Allocation. Answer: assign all overhead costs to the
departments that create the need for the costs.
◉ cost pool. Answer: Overhead amount to be allocated.
Consists of the direct costs of one overhead department
GAPENSKIS FUNDAMENTALS OF HEALTHCARE
FINANCE EXAM 2026 COMPLETE QUESTIONS
AND ANSWERS
◉ accounting. Answer: planning, recording, analyzing, and
interpreting financial information
-measurement in financial terms of events that reflect the resources,
operations and financing of an organization.
◉ financial Management. Answer: theory, concepts, and tools
necessary to help managers make better financial decisions.
◉ Role of finance. Answer: to plan for, acquire, and use resources to
maximize the efficiency of the enterprise
◉ finance activities. Answer: -planning and budgeting
-managing financial operations
-financing decisions
-capital investment decisions
-financial reporting
-financial and operational analysis
,◉ financial staff functions. Answer: -contract management
-financial risk management
◉ Four C's. Answer: Costs-must be continuously monitored
Cash-must has sufficient on hand to meet obligations.
Capital-raise the capital necessary to buy facilities and equipment
Control- control resources to ensure used wisely.
◉ Capitation. Answer: -payment tied to number of covered lives on
the plan.
-Payment to providers made on per member per month
-
◉ Fee for Service. Answer: tied to
-cost based
-charge based
-prospective payment
◉ underlying cost structure. Answer: relationship between costs
and volume of services provided
, ◉ fixed costs. Answer: independent of volume
◉ variable costs. Answer: depend on volume
◉ long-run. Answer: all costs are variable,
◉ short-run. Answer: A period during which at least one of a firm's
resources is fixed (say for one year)
◉ Direct costs. Answer: costs unique and exclusive to the sub unit-
(hands on costs of the process)
◉ Indirect costs. Answer: costs associated with shared resources
and are not directly related to the process.
◉ Cost Allocation. Answer: assign all overhead costs to the
departments that create the need for the costs.
◉ cost pool. Answer: Overhead amount to be allocated.
Consists of the direct costs of one overhead department
