HCMT Midterm questions well
answered already passed
True or False? Since most hospitals are not-for-profit, they are not generally business oriented. -
correct answer ✔✔Answer: False
Which of the following is the United States' clinical modification of the ICD-10 code set created
by the World Health Organization? - correct answer ✔✔Answer: ICD-10-CM
True or False? Claims editing is initiated once the claim has been submitted to the payer for
payment. - correct answer ✔✔Answer: False
ICD-10-PCS codes are used to report which of the following? - correct answer ✔✔Answer:
Hospital Inpatient Procedures
What type of codes are referred to as current procedure terminology (CPT) codes that have
been developed and maintained by the American Medical Association? - correct answer
✔✔Answer: HCPCS Level 1 Codes
Which of the following is a system in which an entity's assets and liabilities are segregated in the
accounting records? - correct answer ✔✔Answer: Fund Accounting
Which of the following is a fundamental premise of accounting that means that transactions of
a business enterprise are recognized during the period to which they relate, not necessarily
during the periods in which cash is received or paid? - correct answer ✔✔Answer: Accural
Accounting
, If an organization's board of directors were to set aside assets to be used for replacement of
plant and equipment, where would this be reflected on the balance sheet? - correct answer
✔✔Answer: Assets limited as to use
True or False? The statement of operations reflects how much cash came in to the organization
and how much went out during the past year (or other accounting period). - correct answer
✔✔Answer: False
Uniformity and comparability of information, which are desired goals for financial accountants,
are clearly more important to management accountants. - correct answer ✔✔Answer: False
In what type of health plan is freedom of choice the highest? - correct answer ✔✔Answer:
Indemnity plans
Many economists believe that improvements in which of the following are the primary means
for realizing increases in the standard of living within a nation? - correct answer ✔✔Answer:
Productivity
A medical group includes a provision in its contract with an HMO to receive larger PMPM
payments if the HMO members are chronically ill. This type of provision is referred to as a: -
correct answer ✔✔Answer: Adverse selection
A network model HMO is a much looser affiliation of independent physicians who have not
come together and integrated their practices in any substantive way. - correct answer
✔✔Answer: False
The United States relies heavily on public financing of medical care to a much greater extent
than most countries, which place much greater emphasis on health insurance. - correct answer
✔✔Answer: False
answered already passed
True or False? Since most hospitals are not-for-profit, they are not generally business oriented. -
correct answer ✔✔Answer: False
Which of the following is the United States' clinical modification of the ICD-10 code set created
by the World Health Organization? - correct answer ✔✔Answer: ICD-10-CM
True or False? Claims editing is initiated once the claim has been submitted to the payer for
payment. - correct answer ✔✔Answer: False
ICD-10-PCS codes are used to report which of the following? - correct answer ✔✔Answer:
Hospital Inpatient Procedures
What type of codes are referred to as current procedure terminology (CPT) codes that have
been developed and maintained by the American Medical Association? - correct answer
✔✔Answer: HCPCS Level 1 Codes
Which of the following is a system in which an entity's assets and liabilities are segregated in the
accounting records? - correct answer ✔✔Answer: Fund Accounting
Which of the following is a fundamental premise of accounting that means that transactions of
a business enterprise are recognized during the period to which they relate, not necessarily
during the periods in which cash is received or paid? - correct answer ✔✔Answer: Accural
Accounting
, If an organization's board of directors were to set aside assets to be used for replacement of
plant and equipment, where would this be reflected on the balance sheet? - correct answer
✔✔Answer: Assets limited as to use
True or False? The statement of operations reflects how much cash came in to the organization
and how much went out during the past year (or other accounting period). - correct answer
✔✔Answer: False
Uniformity and comparability of information, which are desired goals for financial accountants,
are clearly more important to management accountants. - correct answer ✔✔Answer: False
In what type of health plan is freedom of choice the highest? - correct answer ✔✔Answer:
Indemnity plans
Many economists believe that improvements in which of the following are the primary means
for realizing increases in the standard of living within a nation? - correct answer ✔✔Answer:
Productivity
A medical group includes a provision in its contract with an HMO to receive larger PMPM
payments if the HMO members are chronically ill. This type of provision is referred to as a: -
correct answer ✔✔Answer: Adverse selection
A network model HMO is a much looser affiliation of independent physicians who have not
come together and integrated their practices in any substantive way. - correct answer
✔✔Answer: False
The United States relies heavily on public financing of medical care to a much greater extent
than most countries, which place much greater emphasis on health insurance. - correct answer
✔✔Answer: False
