Exam 10-15 test attached
Question 1
Analytical decision-making can be depicted in which type of pictorial format?
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| Venn diagram | |
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| flow chart | |
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| decision tree | |
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| word cloud |
Question 2
What is an example of a non-monetary decision payoff for a health care professional?
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| years of life lost | |
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| years of life gained | |
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| personal satisfaction | |
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| stocks |
Question 3
What is a required component to consider for every decision?
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| alternatives | |
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| previous states of the world | |
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| examples of past payoffs | |
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| current technology |
What are the most important aspects resulting from a decision made in the health care industry?
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| monetary increases | |
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| consequences | |
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| experiences gained | |
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| insights gleaned |
Question 5
Which method to determine costs is considered the least accurate way to collect information?
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| direct observation | |
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| random observation | |
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| time diary | |
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| patient records | |
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| provider surveys |
Question 6
Which method to determine costs involves using a provider-based approach?
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| direct observation | |
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| random observation | |
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| time diary | |
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| patient records | |
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| provider surveys |
Question 7
If service times are clustered about one number and look symmetric, how large of a sample may be sufficient as a basis for estimating mean service time?
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| 20 | |
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| 30 | |
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| 50 | |
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| 100 |
Which method to determine costs is based on the proportion of time spent on an activity being equal to the proportion of observations made of that particular activity during the work day?
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| direct observation | |
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| random observation | |
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| time diary | |
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| patient records | |
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| provider surveys |
Question 9
A Work Breakdown Structure (WBS) should do what?
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| use a pictorial outline system | |
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| create heading for the whole project | |
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| be as detailed within project tasks as possible | |
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| calculate the work output |
Question 10
What is true about all activities?
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| All activities must be completed in any given project. | |
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| All activities must lie on the critical project path. | |
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| All activities must be accounted for with a total project time. | |
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| All activities must stay within their predetermined time limit. |
Question 11
PERT has multi-system applications for projects of what scale?
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| large | |
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| medium | |
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| small | |
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| single-task |
Question 12
What does TSPR stand for?
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| total select program review | |
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| total system performance responsibility | |
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| testing select program response | |
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| total system power rating |
Question 13
Assume a prevailing discount rate of 7%, what is the computed internal rate of return (IRR) for this series of cash flows?
Year Cash Flow
CY ($450,000)
CY + 1 $79,000
CY + 2 $125,000
CY + 3 $140,000
CY + 4 $135,000
CY + 5 $45,000
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| 5.48% | |
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| 6.15% | |
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| 7.63% | |
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| 8.02% |
Question 14
Why is the modified internal rate of return (MIRR) a superior method of assessing a project as opposed to using internal rate of return (IRR)?
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| It is more reflective of projected market conditions. | |
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| It is more reflective of actual market conditions. | |
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| It is more reflective of past market downfalls. | |
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| It is more reflective of future market upswings. |
Question 15
Harris Health is considering the development of a new ambulatory care service. The project will cost $500,000 to implement and have a useful life of five years. At the conclusion of the project’s useful life, equipment associated with the project can be sold for $45,000. Over the five years of operation, incremental revenue attributed to the project will be $180,000 annually, while incremental expenses annually will be $48,000. The organization is also considering an alternative project of similar risk and time horizon, which has a rate of return equal to 4.5%. What is the project’s net present value (NPV)?
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| $111,848 | |
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| $113,362 | |
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| $115,577 | |
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| $117,197 |
Question 16
Harris Health is considering the development of a new ambulatory care service. The project will cost $500,000 to implement and have a useful life of five years. At the conclusion of the project’s useful life, equipment associated with the project can be sold for $45,000. Over the five years of operation, incremental revenue attributed to the project will be $180,000 annually, while incremental expenses annually will be $48,000. The organization is also considering an alternative project of similar risk and time horizon which has a rate of return equal to 4.5%. What is the project’s computed internal rate of return (IRR)?
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| 5.9% | |
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| 7% | |
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| 12.1% | |
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| 15.7% |
Question 17
Total Quality Management (TQM) is based on the premise that any system exhibits a natural level of what?
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| analytical challenge | |
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| outcome variability | |
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| systematic change | |
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| internal consistency |
Question 18
Total Quality Management (TQM) is best performed by whom?
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| the individual analyst trained in TQM | |
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| a group of individual familiar with the work process in question | |
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| an external consultant | |
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| the manager of the organization’s division responsible for the work process |
Question 19
Which chart is used to illustrate the relationship between two variables and can suggest associative properties?
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| run chart | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Pareto chart | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| control chart | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| flow chart | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Question 20 Which chart is used to describe process, system, and how the system works?
Question 21 Which type of planning focuses on assessing sustainability to acquire external funding?
| scatter diagram |
Question 24
Which type of planning focuses on a community of population over a 10-year horizon?
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| community | |
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| operational | |
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| business | |
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| master | |
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| strategic |
Question 25
Which external factor in healthcare strategic planning is concerned with income and education level?
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| socioeconomic | |
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| epidemiologic | |
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| economic | |
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| environmental | |
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| demographic |
