CHFP Online Practice Questions and Answers

Risk pool is:

A. A generally small population of individuals who are all uninsured under the same arrangement, regardless of working status

B. A generally large population of individuals who are all insured under the same arrangement, regardless of working status

C. A generally large population of groups who are all uninsured under the different arrangement, regardless of working status

D. A generally small population of individuals who are all insured under different arrangement, regardless of working status

A major difference between the balance sheet of an investor-owned and a non-profit health care organization is in the section.

A. owners' asset

B. owners' liability

C. owners' equity

D. owners' expense

Which of the following is NOT included in current assets?

A. Cash and cash equivalents

B. short-term investments

C. patient accounts receivables

D. long-term investments

uses the accrual basis of accounting, which summarizes how much the organization earned and the resources it used to generate that income during a period of time.

A. Balance sheet

B. Non-operating income

C. Statement of operations

D. Accounting system for income

Which of the following is for non-profit organizations derived from retained earnings, government grants, sales of asset and contributions?

A. Retained financing

B. Equity financing

C. Finance retaining

D. Profit dispersing

A fund into which monies are set aside each year to ensure that a bond can be liquidated at maturity refers to:

A. Liquidity fund

B. Sinking fund

C. Mature fund

D. Yearly fund

Future value table is the table of factors that shows the future value of multiple investments at a given interest rate.

A. True

B. False

Whenever a series of payments is to be invested or received at the end of the year, an ordinary annuity table can be used to determine future value, rather than computing the future value of each year's cash flow.

A. True

B. False

A loan typically issued by a bank that has a maturity of:

A. One to ten weeks

B. Ten to twelve months

C. One to ten months

D. One to ten years

A method in which interest is calculated on both the original principal and on all interest accumulated since the beginning of the investment time period refers to:

A. Dual interest method

B. Multifaceted interest method

C. Complex interest method

D. Compound interest method