CMPE-PHMG Financial Management
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Good accounts receivable management includes which of the following?
A. Inclusion of pre-payments in analysis efforts.
B. Unsubstantiated write-offs.
C. Willingness to bill third party payers.
D. Specific and documented follow-up activities. - CORRECT ANSWERS✅✅D. Specific
and documented follow-up activities.
How do semi-variable costs typically increase?
A. Independent of volume.
B. Directly proportionate to providers.
C. In a "stepwise" fashion.
D. Directly proportionate to volume. - CORRECT ANSWERS✅✅C. In a "stepwise"
fashion.
In a limited review of billings and collections by an accounting firm, which procedure would
not be reviewed?
A. Procedures for making patient appointments
B. Procedures for posting charges
C. Procedures for fee collection from patients at the time of service.
D. Procedures for billing third-party payers - CORRECT ANSWERS✅✅A. Procedures for
making patient appointments
In modified cash accounting, the operating margin is calculated by using which of the
following ratios?
, A. Total debt divided by total assets.
B. Net income divided by total assets.
C. Income derived from operations divided by revenues.
D. Net income divided by revenues. - CORRECT ANSWERS✅✅C. Income derived from
operations divided by revenues.
Matching invoices to be paid with packing slips is a part of what process? - CORRECT
ANSWERS✅✅Accounts Payable
Practice payer mix refers to the number of what? - CORRECT ANSWERS✅✅patients seen
in each managed care plan
The collection ratio is defined as cash collections for a period divided by
_______________________? - CORRECT ANSWERS✅✅Billings for the period
The following factor should be considered when determining the valuation of a medical
practice: - CORRECT ANSWERS✅✅Nature and history of the practice.
Economic outlook of the local medical community.
Demographics of the practice practice.
Using relative value units (RVUs) to determine procedure costs is often beneficial. Which of
the following is NOT a benefit of using RVUs?
A. Assign detailed costs and resources used in procedures.
B. Determine profit and loss per procedure.
C. Determine cost performance regardless of volume and procedure mix changes.
D. Isolate changes in costs due to changes in procedure mix. - CORRECT ANSWERS✅✅C.
Determine cost performance regardless of volume and procedure mix changes.
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Good accounts receivable management includes which of the following?
A. Inclusion of pre-payments in analysis efforts.
B. Unsubstantiated write-offs.
C. Willingness to bill third party payers.
D. Specific and documented follow-up activities. - CORRECT ANSWERS✅✅D. Specific
and documented follow-up activities.
How do semi-variable costs typically increase?
A. Independent of volume.
B. Directly proportionate to providers.
C. In a "stepwise" fashion.
D. Directly proportionate to volume. - CORRECT ANSWERS✅✅C. In a "stepwise"
fashion.
In a limited review of billings and collections by an accounting firm, which procedure would
not be reviewed?
A. Procedures for making patient appointments
B. Procedures for posting charges
C. Procedures for fee collection from patients at the time of service.
D. Procedures for billing third-party payers - CORRECT ANSWERS✅✅A. Procedures for
making patient appointments
In modified cash accounting, the operating margin is calculated by using which of the
following ratios?
, A. Total debt divided by total assets.
B. Net income divided by total assets.
C. Income derived from operations divided by revenues.
D. Net income divided by revenues. - CORRECT ANSWERS✅✅C. Income derived from
operations divided by revenues.
Matching invoices to be paid with packing slips is a part of what process? - CORRECT
ANSWERS✅✅Accounts Payable
Practice payer mix refers to the number of what? - CORRECT ANSWERS✅✅patients seen
in each managed care plan
The collection ratio is defined as cash collections for a period divided by
_______________________? - CORRECT ANSWERS✅✅Billings for the period
The following factor should be considered when determining the valuation of a medical
practice: - CORRECT ANSWERS✅✅Nature and history of the practice.
Economic outlook of the local medical community.
Demographics of the practice practice.
Using relative value units (RVUs) to determine procedure costs is often beneficial. Which of
the following is NOT a benefit of using RVUs?
A. Assign detailed costs and resources used in procedures.
B. Determine profit and loss per procedure.
C. Determine cost performance regardless of volume and procedure mix changes.
D. Isolate changes in costs due to changes in procedure mix. - CORRECT ANSWERS✅✅C.
Determine cost performance regardless of volume and procedure mix changes.
