Finance and Economics Review Questions & Answers

Finance and Economics Review

Instructions:  Include the question before each answer.

  1. Distinguish between financial accounting and managerial accounting.
  2. Distinguish between the electronic health record (EHR) and the electronic medical record (EMR).
  3. Know the four parts of the Medicare program, Parts A through D.
  4. What is Title XVIII of the Social Security Act commonly known as?
  5. Explain what is meant by ‘payer mix’ when referring to sources of healthcare revenue.
  6. What is Title XIX of the Social Security Act commonly known as?
  7. Have an understanding of health maintenance organizations (HMO) and preferred provider organizations (PPO).
  8. What was the first organized health insurance company?
  9. Briefly explain revenue center in a healthcare organization.
  10. What is the makeup of third party payments?
  11. Define (a)cost, (b) expired costs, (c) unexpired costs, and (d) revenues.
  12. What are ancillary
  13. Define: (a)direct cost (b) indirect cost (c)
  14. For what does the acronym DRG mean?
  15. What are the four major activities for finance?
  16. What are the four C’s of finance?
  17. What is the purpose of accounting?
  18. What are ambulatory care facilities?
  19. The term third-party refers to which of the following: Procedure, provider, patient, payer?
  20. Briefly explain adverse selection.
  21. For what are budgets used?
  22. Pertaining to budgets, what is variance?
  23. What is a revenue cycle?
  24. What is a cost driver?
  25. With all things being constant, one FTE for a hospital means?
  26. If the cost of a medical visit/process/diagnostic test increases, how does this effect the demand for the item?

Advantages and disadvantages of a fire modeling program

Prepare an executive summary on the advantages and disadvantages of fire modeling program
types. Recommend one of the fire modeling programs. The programs are Consolidated Model of
Fire Growth and Smoke Transport (CFAST), Building Research Association of New Zealand Fire
(BRANZFIRE) or Fire Dynamics Simulator (FDS).
Remember that the summary is designed to obtain support for obtaining a fire model program to
assist the organization in fire investigations.
The summary will include the following:
Explain the history and origin of fire modeling.
Describe the different types of computer fire models available.
Define any associated costs with fire modeling programs.
List the general uses and limitations of fire models.
Describe basic use for typical types of fire models.
Identify the uses of fire modeling for your organization, specifically, how this program will
enhance fire investigations in your organization.
Defend your choice with supporting research.
Be sure to include an introduction that sets up the reader to understand which program you are
recommending as well as your main reasons for your recommendation.

Mechanical and Electrical Systems in Buildings (Questions and Answers)

NOTE: Use info/factors from your text.  Show all calculations or explanations on the next page. 

  1. What size (in gallons) would a gas water heater need to be for a home with the following condition: 2 people, 1-washing machine, 2-bathtubs, 1-shower? What size electric water heater would be required?
  1. Water pressure in a municipal street main is 60 psi. If floor to floor height is 10’-0”, how many stories can a building have and still get 24 psi on the top floor?
  1. Estimate the number of water closets(WC), urinals(UR), lavatories(LAV), and drinking fountains(DF) for an elementary school with 600 students, 22 teachers, 4 administrators and 8 staff.
  1. Assume the elementary school above also has 4 service sinks and 12 hose bibs, calculate the Supply Fixture Units (SFU) and Drainage Fixture Units (DFU).
  1. A four story hotel is 64 feet tall and has a total of 600 DFU (150/floor). Size the building drain, soil stack and vent stack.