Page 1 of 105
HFMA CERTIFIED SPECIALIST ACCOUNTING AND
FINANCE EXAM NEWEST 2025 ACTUAL EXAM TEST
BANK| 250 REAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) GRADED
A+|| BRAND NEW!!
Contribution Margin ......ANSWER.......Difference between
marginal revenue and marginal cost.
Break-even point ......ANSWER.......Level of sales volume of a
product producing the exact amount of contribution margin
needed to cover fixed costs.
Overhead ......ANSWER.......Indirect Costs
Activity-based costing (ABC) ......ANSWER.......Method of
determining product costs using cost drivers or activity measures,
which cause indirect costs to be incurred.
,Page 2 of 105
Three main types of Cost standards.
......ANSWER.......Predetermined (Synthetic), Negotiated
(Historical), and Customized (Engineered)
Four Types of Individual Cost behaviors
......ANSWER.......Variable, Fixed Cost Pattern, Semi-Variable
Cost Pattern, Semi-Fixed or Stepped Variable
Three Principal Types of expense variances
......ANSWER.......Price, Volume, and Efficiency
The 4 Primary payment methods used in managed care
......ANSWER.......Fee-for-Service, Per Diem Rate, Case Rate,
Capitation
Healthcare providers should develop different modeling tools
depending on ......ANSWER.......the reimbursement method
proposed in the contract
The general categories of provider excess loss insurance are
......ANSWER.......per-person, aggregate, and carve-out.
,Page 3 of 105
A Strategic Plan allows organizations to ......ANSWER.......have a
clear plan as to why they are in business and how they can stay
in business in the future.
The main types of control budgets include
......ANSWER.......operating, capital, and cash.
A budgeting process develops assumptions for the following:
......ANSWER.......Admissions, ALOS, Expense per visit, Inflation on
expense, FTE per visit, Productivity on FTE per visit, Labor cost
per FTE, Net Rev per visit
Operating budget's statistical factors include
......ANSWER.......Historical statistics, Historical relationship of
department volume, anticipated effects of new programs, clinical
practice patters, covered lives in global payment risk programs,
changes in regulatory environment, technical developments,
process improvements, marketing efforts, demographic trends
, Page 4 of 105
The primary purpose of measuring productivity is
......ANSWER.......for management to determine if resources are
being used efficiently
Budget types include ......ANSWER.......fixed and flexible
The four budget variances used to explain by cause are
......ANSWER.......Volume, rate (charged), price (of a supply), and
efficiency (cost per procedure).
Three common Capital Evaluation techniques
......ANSWER.......Payback, Net Present Value Method, Return on
Investment
Users of ratio analysis ......ANSWER.......Board of Directors,
Management, Health Systems Agencies, Creditors, Employee
Unions, Rate Regulators
The categories of ratios used ......ANSWER.......Profitability Ratios,
Liquidity Ratios, Activity Ratios, Capital Structure Ratios
HFMA CERTIFIED SPECIALIST ACCOUNTING AND
FINANCE EXAM NEWEST 2025 ACTUAL EXAM TEST
BANK| 250 REAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) GRADED
A+|| BRAND NEW!!
Contribution Margin ......ANSWER.......Difference between
marginal revenue and marginal cost.
Break-even point ......ANSWER.......Level of sales volume of a
product producing the exact amount of contribution margin
needed to cover fixed costs.
Overhead ......ANSWER.......Indirect Costs
Activity-based costing (ABC) ......ANSWER.......Method of
determining product costs using cost drivers or activity measures,
which cause indirect costs to be incurred.
,Page 2 of 105
Three main types of Cost standards.
......ANSWER.......Predetermined (Synthetic), Negotiated
(Historical), and Customized (Engineered)
Four Types of Individual Cost behaviors
......ANSWER.......Variable, Fixed Cost Pattern, Semi-Variable
Cost Pattern, Semi-Fixed or Stepped Variable
Three Principal Types of expense variances
......ANSWER.......Price, Volume, and Efficiency
The 4 Primary payment methods used in managed care
......ANSWER.......Fee-for-Service, Per Diem Rate, Case Rate,
Capitation
Healthcare providers should develop different modeling tools
depending on ......ANSWER.......the reimbursement method
proposed in the contract
The general categories of provider excess loss insurance are
......ANSWER.......per-person, aggregate, and carve-out.
,Page 3 of 105
A Strategic Plan allows organizations to ......ANSWER.......have a
clear plan as to why they are in business and how they can stay
in business in the future.
The main types of control budgets include
......ANSWER.......operating, capital, and cash.
A budgeting process develops assumptions for the following:
......ANSWER.......Admissions, ALOS, Expense per visit, Inflation on
expense, FTE per visit, Productivity on FTE per visit, Labor cost
per FTE, Net Rev per visit
Operating budget's statistical factors include
......ANSWER.......Historical statistics, Historical relationship of
department volume, anticipated effects of new programs, clinical
practice patters, covered lives in global payment risk programs,
changes in regulatory environment, technical developments,
process improvements, marketing efforts, demographic trends
, Page 4 of 105
The primary purpose of measuring productivity is
......ANSWER.......for management to determine if resources are
being used efficiently
Budget types include ......ANSWER.......fixed and flexible
The four budget variances used to explain by cause are
......ANSWER.......Volume, rate (charged), price (of a supply), and
efficiency (cost per procedure).
Three common Capital Evaluation techniques
......ANSWER.......Payback, Net Present Value Method, Return on
Investment
Users of ratio analysis ......ANSWER.......Board of Directors,
Management, Health Systems Agencies, Creditors, Employee
Unions, Rate Regulators
The categories of ratios used ......ANSWER.......Profitability Ratios,
Liquidity Ratios, Activity Ratios, Capital Structure Ratios
