Practice Quiz

Nurse Manager Exam #1: Financial Management - Question List

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46. Nurse managers use variance tables to:
  1. Show variances by item
  2. Show variances by project
  3. Show variances by budget period
  4. All of the above
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47. Nurse managers use variance graphs to:
  1. Spot trends
  2. Spot discrepancies
  3. Measure outcome goals
  4. Measure benefits expressed
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48. One of the more difficult tasks nurse managers face is estimating the levels of floor staff, patient care levels, supplies and department overhead. Expense forecasting can be a challenge to any business, but the expense forecasting the business of healthcare can be daunting. In determining department staffing requirements, the nurse manager should include:
  1. All overhead including capitol budgeting
  2. Staffed beds and cost variance
  3. Levels of staffing, vacation time and paid training time
  4. Cost-benefit analysis
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49. In determining staffing requirements for expense forecasting, the nurse manager must take into account:
  1. Intensity of care levels
  2. Department or unit type
  3. History of total unit census
  4. All of the above
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50. Budget forecasting for staffing requires the nurse manager to include variables into the equation. Some of the more important variables that must be considered are:
  1. Staffed beds, cost variance and levels of staffing
  2. The difference between the amount that was budgeted for a specific cost and the actual cost
  3. Unit type, month, day, shift and time
  4. All of the above
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