HFMA Certification Program
HFMA Certification Program Sample Exam Questions
Core Exam Sample Questions
Accounting and Finance Exam Sample Questions
Physician Practices Management Exam Sample Questions
Managed Care Exam Sample Questions
Patient Financial Services Exam Sample Questions
Core Exam Sample Questions
This 20-question test is designed to provide a sample of the type of questions on the 166 question, four-
hour Core certification examination. To best replicate the testing experience, allow about 30 minutes to
complete these questions. None of these questions will appear on the actual certification exam.
Healthcare Industry Overview
1. In America, approximately what percentage of Americans is covered by some form of health
insurance?
A. 55 %
B. 70 %
C. 85 %
D. 100 %
Cost Analysis and Management
2. Four kinds of cost behaviors in cost accounting are:
A. Incremental, fixed, variable, and semi-variable.
B. Discretionary, fixed, variable, and semi-variable.
C. Direct, indirect, fixed, and variable.
D. Fixed, variable, semi-variable, and semi-fixed.
Auditing and Internal Control
3. Internal control comprises the plan of organization and all the coordinate methods and measures
adopted within a business to safeguard its assets, check the accuracy and reliability of its accounting
data, promote operational efficiency, and encourage adherence to prescribed managerial policies. The
phrase "encourage adherence to prescribed managerial policies" means:
A. The timely and accurate preparation of financial statements is a major goal of internal
controls.
B. There is a criterion for the realistic evaluation of the specific internal control: it must
promote operational efficiency.
C. Internal controls are general techniques to accomplish the broad stated objectives.
D. Internal controls should move the organization forward in accordance with management's
//home/vdimitrov/18660/1145c3ff864b736db52c3acf7b33e9dad4a5e23f.doc 1
, HFMA Certification Program
general or specific authorization.
//home/vdimitrov/18660/1145c3ff864b736db52c3acf7b33e9dad4a5e23f.doc 2
, HFMA Certification Program
Sample Exam Questions - Core
Accounting Concepts and Principles
4. Amounts realizable from third-party payers for healthcare services are usually less than the
provider's full established rates for those services. Which of the following is NOT used in
determining the net realizable amount?
A. Contractual agreements.
B. Legislation or regulations.
C. Provider policy or practice.
D. Full cash advance refundings.
5. The purposes of the AICPA Audit and Accounting Guide for Health Care Organization can
best described as:
A. Required standards that all organizations must follow.
B. Generally Accepted Accounting Principles (GAAP).
C. An interpretation of GAAP as applied to healthcare organizations.
D. The healthcare accounting standards further interpreted GAAP.
Capital Planning and Financing
6. Of all the means of equity financing, the least expensive is usually:
A. Long-term.
B. Internal.
C. External.
D. Restrictive.
Budgeting
7. Responsibility reports require those responsible for budget entities to provide:
A. Capital budgeting responsibilities.
B. Lists of budget responsibilities.
C. Explanations for their budget variances.
D. Justifications for operating expenses.
//home/vdimitrov/18660/1145c3ff864b736db52c3acf7b33e9dad4a5e23f.doc 3
HFMA Certification Program Sample Exam Questions
Core Exam Sample Questions
Accounting and Finance Exam Sample Questions
Physician Practices Management Exam Sample Questions
Managed Care Exam Sample Questions
Patient Financial Services Exam Sample Questions
Core Exam Sample Questions
This 20-question test is designed to provide a sample of the type of questions on the 166 question, four-
hour Core certification examination. To best replicate the testing experience, allow about 30 minutes to
complete these questions. None of these questions will appear on the actual certification exam.
Healthcare Industry Overview
1. In America, approximately what percentage of Americans is covered by some form of health
insurance?
A. 55 %
B. 70 %
C. 85 %
D. 100 %
Cost Analysis and Management
2. Four kinds of cost behaviors in cost accounting are:
A. Incremental, fixed, variable, and semi-variable.
B. Discretionary, fixed, variable, and semi-variable.
C. Direct, indirect, fixed, and variable.
D. Fixed, variable, semi-variable, and semi-fixed.
Auditing and Internal Control
3. Internal control comprises the plan of organization and all the coordinate methods and measures
adopted within a business to safeguard its assets, check the accuracy and reliability of its accounting
data, promote operational efficiency, and encourage adherence to prescribed managerial policies. The
phrase "encourage adherence to prescribed managerial policies" means:
A. The timely and accurate preparation of financial statements is a major goal of internal
controls.
B. There is a criterion for the realistic evaluation of the specific internal control: it must
promote operational efficiency.
C. Internal controls are general techniques to accomplish the broad stated objectives.
D. Internal controls should move the organization forward in accordance with management's
//home/vdimitrov/18660/1145c3ff864b736db52c3acf7b33e9dad4a5e23f.doc 1
, HFMA Certification Program
general or specific authorization.
//home/vdimitrov/18660/1145c3ff864b736db52c3acf7b33e9dad4a5e23f.doc 2
, HFMA Certification Program
Sample Exam Questions - Core
Accounting Concepts and Principles
4. Amounts realizable from third-party payers for healthcare services are usually less than the
provider's full established rates for those services. Which of the following is NOT used in
determining the net realizable amount?
A. Contractual agreements.
B. Legislation or regulations.
C. Provider policy or practice.
D. Full cash advance refundings.
5. The purposes of the AICPA Audit and Accounting Guide for Health Care Organization can
best described as:
A. Required standards that all organizations must follow.
B. Generally Accepted Accounting Principles (GAAP).
C. An interpretation of GAAP as applied to healthcare organizations.
D. The healthcare accounting standards further interpreted GAAP.
Capital Planning and Financing
6. Of all the means of equity financing, the least expensive is usually:
A. Long-term.
B. Internal.
C. External.
D. Restrictive.
Budgeting
7. Responsibility reports require those responsible for budget entities to provide:
A. Capital budgeting responsibilities.
B. Lists of budget responsibilities.
C. Explanations for their budget variances.
D. Justifications for operating expenses.
//home/vdimitrov/18660/1145c3ff864b736db52c3acf7b33e9dad4a5e23f.doc 3
