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Financial Management & Budgeting Flashcards

7 cards from real CNA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Financial Management & Budgeting flashcards as text

  1. Which government benefit program covers the first 20 days of skilled nursing facility care at 100% after a qualifying 3-day hospital stay?

    Answer: Medicare Part A

    Medicare Part A pays 100% of covered SNF services for the first 20 days after a qualifying inpatient hospital stay of at least 3 days.

  2. A resident's family member who holds power of attorney begins withdrawing large sums from the resident's account for personal use. This is an example of:

    Answer: Financial abuse by a family member

    Using power of attorney to take a resident's money for personal gain is financial abuse, even when done by a family member.

  3. A facility's business office is auditing resident trust funds. What key principle must be maintained?

    Answer: Resident funds must be kept separate from facility funds

    Federal law strictly requires that resident trust funds be kept in accounts completely separate from the facility's operating funds.

  4. A resident who qualifies for both Medicare and Medicaid is called:

    Answer: A dually eligible beneficiary

    Dually eligible beneficiaries qualify for both Medicare and Medicaid, with Medicare as primary payer and Medicaid covering remaining costs.

  5. Which of the following expenses would typically NOT be covered by Medicaid in a nursing facility?

    Answer: Personal clothing beyond a basic allowance

    Medicaid covers medically necessary care and basic needs, but personal items like extra clothing beyond a basic allowance must be paid from the PNA.

  6. A resident signs an agreement upon admission regarding finances. This document is legally known as the:

    Answer: Admission agreement

    The admission agreement is a binding contract outlining the resident's financial responsibilities, services provided, and facility policies.

  7. If a CNA suspects a resident is being financially exploited by a visitor, the FIRST step is to:

    Answer: Report the concern to the charge nurse immediately

    Suspicions of financial exploitation must be reported to the charge nurse first, who will follow the facility's protocol for investigation and mandatory reporting.