CMAA Financial Management and Accounting 1

Question 1

What is a superbill used for in a medical office?

Accepted Answer

Documenting charges for services rendered

Answer

A superbill (encounter form) itemizes all services, diagnoses, and charges from a patient visit for billing purposes.

Question 2

What does 'accounts receivable' represent in a medical practice?

Accepted Answer

Money owed to the practice for services rendered

Answer

Accounts receivable (A/R) represents money owed to the practice by patients and insurance companies for services already provided.

Question 3

What is a co-pay?

Accepted Answer

A fixed amount a patient pays at each visit

Answer

A co-pay is a fixed out-of-pocket amount a patient pays at each medical visit, as defined by their insurance plan.

Question 4

In medical billing, what does EOB stand for?

Accepted Answer

Explanation of Benefits

Answer

EOB stands for Explanation of Benefits, a statement from the insurer detailing what was covered and the patient's remaining balance.

Question 5

What is the purpose of a day sheet (daily journal) in a medical office?

Accepted Answer

Recording all daily financial transactions

Answer

A day sheet records all financial transactions for a given day, including charges, payments, and adjustments.

CMAA - Certified Medical Administrative Assistant Practice Test