CMAA Financial Management and Accounting 4

Question 1

A patient's EOB shows a $150 contractual adjustment. What does this mean?

Accepted Answer

The provider wrote off $150 as part of their payer contract

Answer

A contractual adjustment is the amount a provider agrees to write off based on their negotiated contract with the insurance payer.

Question 2

Which report shows the total amount billed, collected, and adjusted for a given period?

Accepted Answer

Day sheet (daily journal)

Answer

The day sheet (daily journal) summarizes all financial transactions—charges, payments, and adjustments—for a specific day or period.

Question 3

A claim is denied because the procedure is 'not medically necessary.' What is the FIRST step?

Accepted Answer

Review documentation and file an appeal with supporting clinical notes

Answer

When a claim is denied for medical necessity, the correct first step is to gather supporting documentation and submit a formal appeal to the payer.

Question 4

What is the purpose of a remittance advice (RA)?

Accepted Answer

To inform the provider of claim payment decisions and any adjustments made

Answer

A remittance advice explains which claims were paid, denied, or adjusted and provides the reasons for each decision.

Question 5

Which of the following is an example of accounts payable in a medical office?

Accepted Answer

An unpaid invoice for medical supplies ordered from a vendor

Answer

Accounts payable refers to money the practice owes to outside vendors or suppliers for goods and services received.

CMAA - Certified Medical Administrative Assistant Practice Test