PLEASE ANSWER ALL QUESTIONS

1. A pre-determined amount that the patient pays before the insurer begins to pay for services is known as: A. A payment pledge B. Co-insurance C. A service fee D. A deductible

2. When managers make assumptions on the rate of collections for the various items on the statistical budget they develop a: A. Revenue budget B. Capital budget C. Strategic plan D. Cash budget

3. The process of recording revenue when received and deposited to the bank and recording expenses when a payment is made is called: A. Simplified GAAP accounting B. Cash-basis accounting C. Cash flow D. Cash out basis of accounting

4. Current data from HFMA indicates that on average, it takes how many days for the hospital provider to be paid by the insurer? A. 47 B. 53 C. 59 D. 65

5. Financial statements often require an understanding of what happened during the time period covered by a financial statement. Usually, the what happened is described using: A. Operating metrics B. Notes to the statements C. Statistical analysis D. An accompanying management report

6. When a patient receives treatment, the registration department must collect money for services rendered. To determine the amount of money that is due, the registration clerk must: A. Give the patient an explanation of benefits form. B. Gather the full charges for the patient. C. Collect the co-insurance listed on the back of the insurance card. D. Verify the insurance plan under which the patient is currently covered.

7. Long-term debt is most always secured with: A. A promissory note B. A business asset C. An equity stake in the entity D. A specified percentage of receivables

8. A common metric for monitoring inventory levels is the: A. Rate of inventory replenishment B. Total cash value inventory C. FIFO and LIFO accounting D. Days in inventory

9. The flow of money and data between the patient, the insurer and the provider to pay for medical services is called: A. Funding B. Payment corridors C. Claims D. Revenue cycle