Midterm- MHA 706 Finance upto 185
High-Yield Questions, Definitions &
Board-Style Revision Notes for
Nursing, Health Administration and
Healthcare Management Students
HEALTHCARE FINANCE MASTER REVISION NOTES (PART II)
HEALTHCARE REFORM & FINANCE DEPARTMENT
112. Major Provisions of the Patient Protection and Affordable Care Act (ACA) of 2010
CORRECT ANSWERS:
• Banning of preexisting condition coverage limitations
• Free preventive care
• Medicaid expansion
113. Finance Department at Large Healthcare Organizations
CORRECT ANSWERS:
• CFO typically reports directly to the CEO
• CFO is assisted by a comptroller and treasurer
• Department is headed by the CFO
STAKEHOLDERS & OWNERSHIP
114. Stakeholders in a Not-for-Profit Hospital
CORRECT ANSWERS:
• Vendors
• Community
• Employees
, 115. Stockholder Rights
CORRECT ANSWERS:
• Claim on residual liquidation proceeds
• Right of control
• Possible dividends and/or capital gains
116. Finance, Accounting & Financial Management
CORRECT ANSWER:
Financial management provides the theory, concepts, and tools necessary to help managers
make better financial decisions.
117. Disadvantage of Being a Corporation
CORRECT ANSWER:
External reporting requirements.
118. Finance Activities
CORRECT ANSWERS:
• Financial reporting
• Planning and budgeting
• Financing decisions
119. NOT an Advantage of a Proprietorship
CORRECT ANSWER:
Unlimited liability.
MEDICARE
120. Medicare Part A
CORRECT ANSWER:
Covers hospital services and some skilled nursing home coverage.
121. Medicare Part B
High-Yield Questions, Definitions &
Board-Style Revision Notes for
Nursing, Health Administration and
Healthcare Management Students
HEALTHCARE FINANCE MASTER REVISION NOTES (PART II)
HEALTHCARE REFORM & FINANCE DEPARTMENT
112. Major Provisions of the Patient Protection and Affordable Care Act (ACA) of 2010
CORRECT ANSWERS:
• Banning of preexisting condition coverage limitations
• Free preventive care
• Medicaid expansion
113. Finance Department at Large Healthcare Organizations
CORRECT ANSWERS:
• CFO typically reports directly to the CEO
• CFO is assisted by a comptroller and treasurer
• Department is headed by the CFO
STAKEHOLDERS & OWNERSHIP
114. Stakeholders in a Not-for-Profit Hospital
CORRECT ANSWERS:
• Vendors
• Community
• Employees
, 115. Stockholder Rights
CORRECT ANSWERS:
• Claim on residual liquidation proceeds
• Right of control
• Possible dividends and/or capital gains
116. Finance, Accounting & Financial Management
CORRECT ANSWER:
Financial management provides the theory, concepts, and tools necessary to help managers
make better financial decisions.
117. Disadvantage of Being a Corporation
CORRECT ANSWER:
External reporting requirements.
118. Finance Activities
CORRECT ANSWERS:
• Financial reporting
• Planning and budgeting
• Financing decisions
119. NOT an Advantage of a Proprietorship
CORRECT ANSWER:
Unlimited liability.
MEDICARE
120. Medicare Part A
CORRECT ANSWER:
Covers hospital services and some skilled nursing home coverage.
121. Medicare Part B
