C428 Exam Questions and Answers
Graded A+
What is healthcare finance? - Correct answer-It encompasses the accounting and
financial management functions of healthcare organizations. The two functions
blend together, with accounting generating the data needed to make sound
decisions and financial management providing the framework for those decisions.
What is financial management? - Correct answer-The use of theory, principles, and
concepts developed to help managers make better financial decisions.
What is another name for financial management? - Correct answer-Corporate
finance
What are the four C's? - Correct answer-Cost (measurement and minimization)
Cash (management)
Capital (acquisition)
Control (of resources)
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, What do some finance professors consider as the 5th "C"? - Correct answer-
Collections
What is the role of the Comptroller? - Correct answer-This is the finance
department manager who handles accounting, budgeting and reporting activities.
What is the role of the treasurer? - Correct answer-This is the finance department
manager who handles capital acquisition, investment management, and risk
management activities.
What is the chain of command in an organization? - Correct answer-CEO
CFO
Senior Managers (Comptroller and Treasurer)
What is a Business (practice) manager? - Correct answer-The manager responsible
for the finance function in a small healthcare organization, such as a medical
practice with one or a few clinicians.
What is the horizontal system? - Correct answer-A single business entity that owns
a group of similar providers, such as hospitals.
What is the vertical system? - Correct answer-A single business entity that owns a
group of related, but not identical, providers, such as hospitals, medical practices,
and nursing homes.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Graded A+
What is healthcare finance? - Correct answer-It encompasses the accounting and
financial management functions of healthcare organizations. The two functions
blend together, with accounting generating the data needed to make sound
decisions and financial management providing the framework for those decisions.
What is financial management? - Correct answer-The use of theory, principles, and
concepts developed to help managers make better financial decisions.
What is another name for financial management? - Correct answer-Corporate
finance
What are the four C's? - Correct answer-Cost (measurement and minimization)
Cash (management)
Capital (acquisition)
Control (of resources)
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, What do some finance professors consider as the 5th "C"? - Correct answer-
Collections
What is the role of the Comptroller? - Correct answer-This is the finance
department manager who handles accounting, budgeting and reporting activities.
What is the role of the treasurer? - Correct answer-This is the finance department
manager who handles capital acquisition, investment management, and risk
management activities.
What is the chain of command in an organization? - Correct answer-CEO
CFO
Senior Managers (Comptroller and Treasurer)
What is a Business (practice) manager? - Correct answer-The manager responsible
for the finance function in a small healthcare organization, such as a medical
practice with one or a few clinicians.
What is the horizontal system? - Correct answer-A single business entity that owns
a group of similar providers, such as hospitals.
What is the vertical system? - Correct answer-A single business entity that owns a
group of related, but not identical, providers, such as hospitals, medical practices,
and nursing homes.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
