Practice Quiz

Nurse Manager Exam #1: Financial Management - Question List

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36. Based on the new total average monthly projected working hours for the 12 month period and the new wage structure for registered nurses, your new budget in annual nursing hours will cost:
  1. $2,582,758.10
  2. $2,582,158.10
  3. $2,585,158.13
  4. $2,588,758.10
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37. The nurse manager prepares a monthly financial statement that identifies actual revenues and expenses and compares those to the monthly break down of the annual budget. In order to effectively monitor the budget, the nurse manager must:
  1. Compare each line-item to the projected budget
  2. Compare yearly profit/ loss ratios for the last 36 months
  3. Compare overall totals and amortize
  4. None of the above
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38. A discrepancy in a line-item comparison of a monthly financial statement is called:
  1. A variance
  2. An unplanned expenditure
  3. A revenue discrepancy
  4. Hard costs
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39. Variances may be indicative of:
  1. Errors
  2. Necessary changes
  3. Lack of control
  4. All of the above
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40. Continued variances to budgets that are not supported by increased revenues will:
  1. Result in a poor annual budget performance
  2. Result in loss of department funding
  3. Result in a poor department evaluation
  4. Result in a departmental audit
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