HFMA CSPR EXAM ACTUAL EXAM 2024-25 COMPLETE REAL QUESTIONS AND CORRECT ANSWERS (CORRECT VERIFIED SOLUTIONS) LATEST UPDATED VERSION

HFMA'S CSAF 2025, CERTIFIED SPECIALIST ACCO
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UNTING AND FINANCE | Q&A VERIFIED LATEST U
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PDATE


Contribution Margin h




Difference between marginal revenue and marginal cost.
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Advance refunding enables providers:
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to restructure their long-
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term liabilities, reduce interest rates, or terminate restrictive bo
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nd covenants
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Revenue usually is recorded when:
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an enrollee or the service is provided to a patient or resident.
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Donations of noncash assets that are not long-
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lived assets are recognized as revenue
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in the period received.
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Should be reported on the face of financial statements using eithe
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r a natural classification or a functional presentation.
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,NOT - A. Not-for-profit organizations
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B. Governmental organizations
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C. Expenses
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D. Healthcare organizations
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Farm animals h h




Yes
**No




Accounting for current liabilities of healthcare organizations i
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s similar to that of
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**A. Other business enterprises
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B. Deferred compensation arrangements
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C. Governmental healthcare entities
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D. Compensated absences
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What is the purpose of long-term debt?
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**A. To satisfy capital needs.
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B. To permit healthcare organizations to borrow funds for capital
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projects.

,C. To represent a liability that must be paid to the U.S. Treasury.
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D. To disclose information about contractual limits.
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Regularly recurring or periodic expenses, such as utilities and tax
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es
**Yes
h No




Non-qualified deferred compensation
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**Yes
h No




The healthcare organization's projection of costs
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**Yes
h No




Any trade or business carried on by a 501(c)(3) organization, or
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by a governmental college or university, primarily for the
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, convenience of its members, students, patients, officers, or empl
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oyees.
A. UBI condition
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**B. UBI excluded activity
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Which control budget places the responsibility for meeting budg
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et targets on departmental or service managers?
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**A. Operating budget
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B. Capital budget
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C. Cash budget
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D. Control budget
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No part of the entity's net earnings, either directly or indirectly, i
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nures to any private shareholder or individual.
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**Yes
h No




Allow the parties to combine their financial resources and may
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give them access to additional sources of capital.
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**Benefit Ris h




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