HFMA
Certified Hospital Cost Report Specialist
Final Assessment Review
(With Solutions)
2026
1
,Course 1 – Hospital Cost Report
Multiple Choice: Which of the following components is NOT typically
included in a hospital cost report? A) Worksheet A - Cost Centers B)
Worksheet B – Statistical Data C) Worksheet D – Capital Assets D)
Worksheet G – Bad Debt Adjustment
Answer: C) Worksheet D – Capital Assets
Rationale: Worksheet D is not part of the standard hospital cost report.
Capital assets are adjusted in other ways, mostly reflected in Worksheet
G or other related schedules.
2. True/False:
Hospital cost reports must be filed annually with CMS within five months
of the fiscal year-end.
Answer: True
Rationale: CMS requires submission within five months to ensure timely
reimbursement and audit processes.
Course 2 – Cost Report Overview
3. Short Answer:
Explain the main purpose of the Medicare cost report in hospital
reimbursement.
Answer:
The main purpose is to provide a detailed accounting of a hospital’s costs
and charges during a reporting period to calculate Medicare
reimbursement and ensure accurate cost allocation.
Rationale: The Medicare cost report reconciles costs to payments and
supports cost-based reimbursement.
4. Fill in the Blank:
The Medicare cost report's fiscal year typically aligns with the hospital's
_____________ year.
2
, Answer: fiscal
Rationale: Hospitals report costs based on their own fiscal year to align
financial and operational data.
Course 3 – Worksheet A
5. Multiple Choice:
Worksheet A primarily focuses on which kind of data?
A) Capital Cost Data
B) Cost Center Allocations
C) Wage Index Information
D) Bad Debt Reporting
Answer: B) Cost Center Allocations
Rationale: Worksheet A collects costs by various hospital cost centers
and allocates indirect costs accordingly.
6. True/False:
Only direct patient care areas are listed as primary cost centers in
Worksheet A.
Answer: False
Rationale: Worksheet A includes both direct patient care and indirect or
ancillary cost centers.
Course 4 – Worksheet B Part 1 and Part B-1
7. Fill in the Blank:
Worksheet B collects information on ____________ used in each cost
center to allocate costs.
Answer: statistics (such as hours, visits, patient days)
Rationale: Worksheet B uses statistical data to allocate costs among
departments and services.
8. Multiple Choice:
3
Certified Hospital Cost Report Specialist
Final Assessment Review
(With Solutions)
2026
1
,Course 1 – Hospital Cost Report
Multiple Choice: Which of the following components is NOT typically
included in a hospital cost report? A) Worksheet A - Cost Centers B)
Worksheet B – Statistical Data C) Worksheet D – Capital Assets D)
Worksheet G – Bad Debt Adjustment
Answer: C) Worksheet D – Capital Assets
Rationale: Worksheet D is not part of the standard hospital cost report.
Capital assets are adjusted in other ways, mostly reflected in Worksheet
G or other related schedules.
2. True/False:
Hospital cost reports must be filed annually with CMS within five months
of the fiscal year-end.
Answer: True
Rationale: CMS requires submission within five months to ensure timely
reimbursement and audit processes.
Course 2 – Cost Report Overview
3. Short Answer:
Explain the main purpose of the Medicare cost report in hospital
reimbursement.
Answer:
The main purpose is to provide a detailed accounting of a hospital’s costs
and charges during a reporting period to calculate Medicare
reimbursement and ensure accurate cost allocation.
Rationale: The Medicare cost report reconciles costs to payments and
supports cost-based reimbursement.
4. Fill in the Blank:
The Medicare cost report's fiscal year typically aligns with the hospital's
_____________ year.
2
, Answer: fiscal
Rationale: Hospitals report costs based on their own fiscal year to align
financial and operational data.
Course 3 – Worksheet A
5. Multiple Choice:
Worksheet A primarily focuses on which kind of data?
A) Capital Cost Data
B) Cost Center Allocations
C) Wage Index Information
D) Bad Debt Reporting
Answer: B) Cost Center Allocations
Rationale: Worksheet A collects costs by various hospital cost centers
and allocates indirect costs accordingly.
6. True/False:
Only direct patient care areas are listed as primary cost centers in
Worksheet A.
Answer: False
Rationale: Worksheet A includes both direct patient care and indirect or
ancillary cost centers.
Course 4 – Worksheet B Part 1 and Part B-1
7. Fill in the Blank:
Worksheet B collects information on ____________ used in each cost
center to allocate costs.
Answer: statistics (such as hours, visits, patient days)
Rationale: Worksheet B uses statistical data to allocate costs among
departments and services.
8. Multiple Choice:
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