HFMA
Certified Healthcare Financial
Professional
Final Assessment Review
(With Solutions)
2026
1
,Business Acumen
Multiple Choice: Which financial metric best indicates a healthcare
organization's ability to cover its short-term liabilities with its most liquid
assets? A) Debt-to-Equity Ratio B) Current Ratio C) Return on Assets D)
Operating Margin
Answer: B) Current Ratio
Rationale: The current ratio measures an organization's liquidity by
comparing current assets to current liabilities, indicating its ability to
meet short-term obligations.
True/False:
A healthcare organization's EBITDA margin is the same as its net profit
margin.
Answer: False
Rationale: EBITDA margin excludes interest, taxes, depreciation, and
amortization, whereas net profit margin includes these expenses.
Fill in the Blank:
_______ is the process of analyzing clinical and operational data to
improve patient outcomes and reduce costs.
Answer: Healthcare analytics
Rationale: Healthcare analytics involves leveraging data to enhance
clinical decisions and operational efficiency.
Short Answer:
Explain why understanding payer mix is critical for a healthcare financial
professional.
Answer: Knowing the payer mix helps predict revenue streams and
reimbursement rates, as different payers have varying contract terms
and payment schedules, impacting financial planning.
Multiple Choice:
2
, Which of the following best describes a value-based care model?
A) Payment based solely on volume of services
B) Payment based on patient outcomes and efficiency
C) Fee-for-service payment model
D) Payment based on capital expenditures
Answer: B) Payment based on patient outcomes and efficiency
Rationale: Value-based care rewards quality and efficiency rather than
volume of services.
Collaboration
6. Multiple Choice:
Which collaboration tool is most effective for integrating
multidisciplinary teams across different healthcare departments?
A) Email communication
B) Shared electronic health records (EHR) systems
C) Paper memos
D) Face-to-face meetings only
Answer: B) Shared electronic health records (EHR) systems
Rationale: EHR systems facilitate real-time, accessible data sharing across
departments improving care coordination.
True/False:
Effective collaboration in healthcare financial management requires
alignment of clinical and financial goals.
Answer: True
Rationale: Aligning clinical with financial goals ensures initiatives support
both patient outcomes and organizational sustainability.
Fill in the Blank:
In cross-functional teams, _______ communication helps reduce
misunderstandings by clarifying roles and expectations.
Answer: transparent
Rationale: Transparent communication is key to effective collaboration
3
Certified Healthcare Financial
Professional
Final Assessment Review
(With Solutions)
2026
1
,Business Acumen
Multiple Choice: Which financial metric best indicates a healthcare
organization's ability to cover its short-term liabilities with its most liquid
assets? A) Debt-to-Equity Ratio B) Current Ratio C) Return on Assets D)
Operating Margin
Answer: B) Current Ratio
Rationale: The current ratio measures an organization's liquidity by
comparing current assets to current liabilities, indicating its ability to
meet short-term obligations.
True/False:
A healthcare organization's EBITDA margin is the same as its net profit
margin.
Answer: False
Rationale: EBITDA margin excludes interest, taxes, depreciation, and
amortization, whereas net profit margin includes these expenses.
Fill in the Blank:
_______ is the process of analyzing clinical and operational data to
improve patient outcomes and reduce costs.
Answer: Healthcare analytics
Rationale: Healthcare analytics involves leveraging data to enhance
clinical decisions and operational efficiency.
Short Answer:
Explain why understanding payer mix is critical for a healthcare financial
professional.
Answer: Knowing the payer mix helps predict revenue streams and
reimbursement rates, as different payers have varying contract terms
and payment schedules, impacting financial planning.
Multiple Choice:
2
, Which of the following best describes a value-based care model?
A) Payment based solely on volume of services
B) Payment based on patient outcomes and efficiency
C) Fee-for-service payment model
D) Payment based on capital expenditures
Answer: B) Payment based on patient outcomes and efficiency
Rationale: Value-based care rewards quality and efficiency rather than
volume of services.
Collaboration
6. Multiple Choice:
Which collaboration tool is most effective for integrating
multidisciplinary teams across different healthcare departments?
A) Email communication
B) Shared electronic health records (EHR) systems
C) Paper memos
D) Face-to-face meetings only
Answer: B) Shared electronic health records (EHR) systems
Rationale: EHR systems facilitate real-time, accessible data sharing across
departments improving care coordination.
True/False:
Effective collaboration in healthcare financial management requires
alignment of clinical and financial goals.
Answer: True
Rationale: Aligning clinical with financial goals ensures initiatives support
both patient outcomes and organizational sustainability.
Fill in the Blank:
In cross-functional teams, _______ communication helps reduce
misunderstandings by clarifying roles and expectations.
Answer: transparent
Rationale: Transparent communication is key to effective collaboration
3
