HFMA CSAF Complete Exam Review 2026 (With Solutions)
Exam
If a lessee is building up equity in equipment being leased, the lease is:
A. A capital lease.
B. An operating lease.
C. A noncancelable lease.
D. A cancelatable monthly lease agreement. - answerA. A capital lease.
Contribution margin is:
A. The difference between marginal revenue and the break-even point.
B. The difference between marginal revenue and marginal cost.
C. Where marginal revenue equals marginal cost.
D.the point where fixed cost produces a profit. - answerB. The difference between
marginal revenue and marginal cost.
Activity-based costing is - answerA. Another term for the proportional allocation method
**B. A method of determining product costs using cost drivers or activity measures that
cause indirect costs to be incurred
C. Less expensive to determine due to the necessary data collection
D. Generally considered a less accurate costing method
The break-even point is the level of sales volume of a product producing the exact
amount of _____________.
A. Contribution margin needed to cover fixed costs
B. Incremental cost needed to cover fixed costs
C. Contribution margin needed to cover incremental costs
D. Contribution margin needed to cover all costs - answerA. Contribution margin
needed to cover fixed costs
Overhead is a common term for
A. Direct Costs
B. Variable Costs
C. Fixed Costs
D. Indirect Costs - answerD. Indirect Costs
Arrived at by a group or association of organizations with similar characteristics (for
example, a published relative value scale).
A. Predetermined
B. Negotiated
,C. Customized standards - answerA. Predetermined
Based on the historical data of the specific institution for which the budget is intended -
answerA. Predetermined
**B. Negotiated
C. Customized standards
Based on detailed time or activity studies within a specific department of a specific
institution.
A. Predetermined
B. Negotiated
C. Customized standards - answerC. Customized standards
Which type of cost behavior varies more or less in direct proportion to volume? -
answer**A. Variable cost
B. Fixed cost
C. Semi-variable cost
D. Semi-fixed cost
The wage variance is determined by: - answerA. The "difference in the actual and
budgeted paid hours" times the "budgeted wage rate."
B. The "budgeted units of service" times the "budgeted labor hours per unit of service"
times the "actual average wage rate per hour."
C. The variance in the "labor hours per unit of service" times the "actual units of service"
times the "budgeted average wage rate."
**D. The "difference in the budgeted and actual average wage per hour" times the
"actual paid hours."
The hospital staffing for a regular acute unit is an example of - answer**A. Semi-fixed or
stepped variable cost
B. Variable cost
C. Fixed cost
D. A fixed cost pattern
Which of the following is NOT a type of expense variance?
A. Price Variance
B. Volume Variance
C. Efficiency Variance
D. Stepped Variance - answerD. Stepped Variable
When a hospital's actual patient census is greater than budgeted, the management
views this as favorable. Generally, the effect on the actual expenses being less than the
budgeted amounts is: - answer**A. Also favorable
B. Unfavorable
C. Mostly favorable
D. A positive volume variance
, Which of the following is not one of the current trends moving away from the fee for
service delivery payment system: - answerA. MIPS
B. Comprehensive Care for Joint Replacement (CJR)
C. Accountable Care Organizations (ACO)
**D. Resource Based Relative Value System (RBRVS)
Which type of payment method is intended to cover all inpatient services utilized for
each procedure (e.g., joint replacement) while the beneficiary is in the hospital? -
answerA. Fee-for-service
B. Per diem rate
**C. Case rate
D. Capitation
Which one of the following options is a managed care product that is easy to evaluate? -
answerA. Capitation
B. Fee schedule
C. Case rate
**D. Fee-for-service
Healthcare providers should develop different modeling tools depending on
____________. - answer**A. The reimbursement method proposed in the contract.
B. Whether it will result in additional business.
C. Cost estimates for each scheduled rate
D. What the cost structure would be
Managed care arrangements generally result in providers: - answerA. Receiving, on
average, a higher level of reimbursement.
**B. Assuming greater financial risk for the level of services provided.
C. Relaxing their management for the level of services provided.
D. Being fairly and adequately reimbursed for the level of services provided.
Which option is NOT a general category of provider excess loss insurance? - answerA.
Per-Person
B. Aggregate
C. Carve-Out
**D. Quality Indicators
Which option is NOT a function of the Centers for Medicare and Medicaid Services
(CMS)? - answerA. Establishment and promulgation of clear policy on eligibility for CMS
programs, coverage and reimbursement of healthcare services, standards for providers
and program administration
B. Administration of comprehensive agreements with contractors and states that
stipulate the conditions under which CMS programs are carried out, the performance
standards that must be met in their administration, and the programmatic results that
are to be achieved
Exam
If a lessee is building up equity in equipment being leased, the lease is:
A. A capital lease.
B. An operating lease.
C. A noncancelable lease.
D. A cancelatable monthly lease agreement. - answerA. A capital lease.
Contribution margin is:
A. The difference between marginal revenue and the break-even point.
B. The difference between marginal revenue and marginal cost.
C. Where marginal revenue equals marginal cost.
D.the point where fixed cost produces a profit. - answerB. The difference between
marginal revenue and marginal cost.
Activity-based costing is - answerA. Another term for the proportional allocation method
**B. A method of determining product costs using cost drivers or activity measures that
cause indirect costs to be incurred
C. Less expensive to determine due to the necessary data collection
D. Generally considered a less accurate costing method
The break-even point is the level of sales volume of a product producing the exact
amount of _____________.
A. Contribution margin needed to cover fixed costs
B. Incremental cost needed to cover fixed costs
C. Contribution margin needed to cover incremental costs
D. Contribution margin needed to cover all costs - answerA. Contribution margin
needed to cover fixed costs
Overhead is a common term for
A. Direct Costs
B. Variable Costs
C. Fixed Costs
D. Indirect Costs - answerD. Indirect Costs
Arrived at by a group or association of organizations with similar characteristics (for
example, a published relative value scale).
A. Predetermined
B. Negotiated
,C. Customized standards - answerA. Predetermined
Based on the historical data of the specific institution for which the budget is intended -
answerA. Predetermined
**B. Negotiated
C. Customized standards
Based on detailed time or activity studies within a specific department of a specific
institution.
A. Predetermined
B. Negotiated
C. Customized standards - answerC. Customized standards
Which type of cost behavior varies more or less in direct proportion to volume? -
answer**A. Variable cost
B. Fixed cost
C. Semi-variable cost
D. Semi-fixed cost
The wage variance is determined by: - answerA. The "difference in the actual and
budgeted paid hours" times the "budgeted wage rate."
B. The "budgeted units of service" times the "budgeted labor hours per unit of service"
times the "actual average wage rate per hour."
C. The variance in the "labor hours per unit of service" times the "actual units of service"
times the "budgeted average wage rate."
**D. The "difference in the budgeted and actual average wage per hour" times the
"actual paid hours."
The hospital staffing for a regular acute unit is an example of - answer**A. Semi-fixed or
stepped variable cost
B. Variable cost
C. Fixed cost
D. A fixed cost pattern
Which of the following is NOT a type of expense variance?
A. Price Variance
B. Volume Variance
C. Efficiency Variance
D. Stepped Variance - answerD. Stepped Variable
When a hospital's actual patient census is greater than budgeted, the management
views this as favorable. Generally, the effect on the actual expenses being less than the
budgeted amounts is: - answer**A. Also favorable
B. Unfavorable
C. Mostly favorable
D. A positive volume variance
, Which of the following is not one of the current trends moving away from the fee for
service delivery payment system: - answerA. MIPS
B. Comprehensive Care for Joint Replacement (CJR)
C. Accountable Care Organizations (ACO)
**D. Resource Based Relative Value System (RBRVS)
Which type of payment method is intended to cover all inpatient services utilized for
each procedure (e.g., joint replacement) while the beneficiary is in the hospital? -
answerA. Fee-for-service
B. Per diem rate
**C. Case rate
D. Capitation
Which one of the following options is a managed care product that is easy to evaluate? -
answerA. Capitation
B. Fee schedule
C. Case rate
**D. Fee-for-service
Healthcare providers should develop different modeling tools depending on
____________. - answer**A. The reimbursement method proposed in the contract.
B. Whether it will result in additional business.
C. Cost estimates for each scheduled rate
D. What the cost structure would be
Managed care arrangements generally result in providers: - answerA. Receiving, on
average, a higher level of reimbursement.
**B. Assuming greater financial risk for the level of services provided.
C. Relaxing their management for the level of services provided.
D. Being fairly and adequately reimbursed for the level of services provided.
Which option is NOT a general category of provider excess loss insurance? - answerA.
Per-Person
B. Aggregate
C. Carve-Out
**D. Quality Indicators
Which option is NOT a function of the Centers for Medicare and Medicaid Services
(CMS)? - answerA. Establishment and promulgation of clear policy on eligibility for CMS
programs, coverage and reimbursement of healthcare services, standards for providers
and program administration
B. Administration of comprehensive agreements with contractors and states that
stipulate the conditions under which CMS programs are carried out, the performance
standards that must be met in their administration, and the programmatic results that
are to be achieved
