ASHE Financial Stewardship in Healthcare 2

Question 1

Which financial metric best measures the efficiency of a healthcare facility's maintenance department by comparing actual costs to planned costs?

Accepted Answer

Budget Variance

Answer

Return on Investment (ROI)

Answer

Net Present Value (NPV)

Answer

Payback Period

Question 2

When evaluating energy retrofit projects, which analysis method accounts for the time value of money by discounting future cash flows?

Accepted Answer

Net Present Value (NPV)

Answer

Simple Payback Analysis

Answer

Break-Even Analysis

Answer

Cost-per-Square-Foot Analysis

Question 3

A hospital's Facility Condition Index (FCI) is calculated by dividing deferred maintenance costs by what figure?

Accepted Answer

Current replacement value of the facility

Answer

Annual operating budget

Answer

Original construction cost

Answer

Total asset depreciation

Question 4

Under a full-service (gross) lease for healthcare facility space, which party is responsible for paying operating expenses such as utilities and maintenance?

Accepted Answer

Landlord/lessor

Answer

Tenant (healthcare organization)

Answer

Both parties split 50/50

Answer

A third-party facilities manager

Question 5

Which cost accounting method allocates overhead costs to departments based on their proportional use of shared resources in a healthcare facility?

Accepted Answer

Activity-Based Costing (ABC)

Answer

Direct costing

Answer

Standard costing

Answer

Marginal costing

Question 6

What is the primary purpose of a healthcare facility's capital reserve fund?

Accepted Answer

To fund planned future major repairs and equipment replacements

Answer

To cover day-to-day operational expenses

Answer

To pay employee salaries during budget shortfalls

Answer

To offset revenue losses from uninsured patients

Question 7

In healthcare facility management, 'total cost of ownership' (TCO) for a piece of medical equipment includes which of the following beyond the purchase price?

Accepted Answer

Purchase price, installation, maintenance, training, and disposal costs

Answer

Only the installation cost

Answer

Only the annual maintenance contract cost

Answer

Purchase price and warranty costs only