NAB RCAL Exam Study Guide 2024|2025 Questions and Answers, Exams of Nursing

Download NAB RCAL Exam Study Guide 2024|2025 Questions and Answers and more Exams Nursing in PDF only on Docsity! NAB RCAL Exam Study Guide 2024| 2025 Questions and Answers (Verified Answers) 1. Breakeven Point? - ✅✅total cost = total revenue 2. Working capital ratio - ✅✅current assets / current liabilities 3. Acid-test (quick) ratio - ✅✅(cash + AR + short-term investments) / current liabilities 4. debt to assets ratio - ✅✅total liabilities/total assets 5. FTE (full time equivalent) - ✅✅total number of hours per employee in a week / 40 (i.e. 12+14+40+30 div. by 40) 6. Profit margin - ✅✅NOI/Tot. Revenue. Defined as "income to sales. 2 types, gross prof margin and net prof margin) 7. Net Operating Income (NOI) - ✅✅Total (gross) Revenue - operating expenses 8. Occupancy rate - ✅✅(# of resident days/facility beds) x 365 9. HCS - ✅✅Hazard Communication Standard. OSHA standard requiring employers to inform workers of potentially hazardous chemicals. 10. Balance sheet formula - ✅✅Assets = Liabilities + Shareholders Equity 11. EBITDA - ✅✅Earnings before interest, taxes, depreciation, and amortization 12. Amortization - ✅✅the reduction of a loan balance through payments made over a period of time 13. revenue cycle management - ✅✅resident needs->service planning->staffing->billing/collections-> 14. FICA SS Tax and Medicare Tax - ✅✅6.2% and 1.45% 15. 4 elements of a valid contract - ✅✅agreement, consideration, contractual capacity, legality (in writing) "ACCL" 34. Net Worth Formula - ✅✅Assets - Liabilities 35. Dementia Living Environment - ✅✅Residential living with clinical aspects. safe, quiet, secured 36. Effective Claims Management for working with insurance agencies - ✅✅components of the claims handling process include developing strategies to cut costs and reduce fraud while keeping customers satisfied 37. Corporate Compliance Programs - ✅✅assist providers and their agents and develop effective internal controls that promote adherence to applicable federal and state law 38. Leadership (vs. management) - ✅✅produces change and movement, motivates, communicates goals, creates vision 39. Management (vs leadership) - ✅✅Produces order and consistency, agenda, timetable, structure, develops incentives, corrective actions, etc. 40. Mission Statement - ✅✅Public document, short (tshirt), purpose of ALF 41. Vision statement - ✅✅Usually private internal documents, expresses what the organization should become using the mission, where it wants to go strategically. 42. Organizational Values - ✅✅accompany mission statement, describes key behaviors that are expected of staff 43. Cash Flow - ✅✅Cash receipts less cash disbursements from a given operation or set of operations from a period of time 44. Balance sheet - ✅✅Snapshot/point in time of what a company owns and owes. Summarizes assets, liabilities and shareholder equity at a specific point in time. 45. Income statement (or statement of financial position) - ✅✅How much revenue and profit generated over a certain period of time 46. Interest coverage - ✅✅What portion of debt interest is covered by a company cash flow situation (EBITDA/Interest expense) 47. Capital - ✅✅typically $500 or more, 1 year or more life. Money invested in company. 48. chart of accounts - ✅✅A list of every account (5 groups: ass, Lia, capital, Rev, expenses) 49. Variable cost - ✅✅Fluctuate directly with changes in census (i.e. food, salary) 50. Fixed cost - ✅✅Do not relate to changes in census. 51. Direct cost - ✅✅Cost that are directly attributable to providing resident care (i.e. salaries, payroll, pay taxes, benefits, supplies) 52. Indirect cost - ✅✅i.e. administrative salary, depreciation 53. 5 steps of budgeting - ✅✅Assessing environment, Programming, Developing operating budget, Building cash budget, Determing capital budget 54. How often should goals and objectives be evaluated? - ✅✅Annual basis, at least 55. Patient Self-Determination Act of 1990 - ✅✅protects patient rights including the right to agree to or refuse medical treatment (gives patients right to choose health care decisions when entering hospital) 68. 15 employees or more. Reasonably remove barriers so disabled can be accommodated - ✅✅Americans with Disabilities Act (ADA) of 1990 69. continues healthcare benefits to individuals and families for limited period of time such as job loss, reduced hours, death, divorce, etc. Qualified individuals may have to pay entire premium - ✅✅Consolidated Omnibus Budget Reconciliation Act (COBRA) 70. Act that limits the amount of wages that can be garnished or withheld in any one week by an employer to satisfy creditors. - ✅✅Consumer Credit Protection Act 71. Minimum wage, child labor laws, overtime - ✅✅Fair Labor Standards Act (FLSA) 72. Protections for coverage under group health plans, prohibit discrimination against employees based on health status - ✅✅HIPPA (Health Insurance Portability and Accountability Act) 73. 12 weeks unpaid if an employee has worked 1250 hrs within last 12 months. Covers -serious health condition -care for family member. -birth or adoption - ✅✅Family and Medical Leave Act (FMLA) 74. Federal law requiring employers to verify and maintain records on applicants' legal rights to work in the United States. 1- 9 Form complete within 3 days of employment, retain copy 3 years or 1 year following terminiation - ✅✅Immigration Reform and Control Act of 1986 75. includes "general duty clause" that requires all employers to maintain a workplace that is free from recognized hazards that would cause injury/death to employees - ✅✅Occupational Safety and Health Administration (OSHA) 76. Maintain log of certain injuries, illnesses. Report certain deaths and multiple hospitalizations, post supplementary records on an annual basis. Employer cannot fire employee who is uncomfy at work. - ✅✅Osha requirements 77. a ratio that expresses the percentage of applicants who successfully move from one stage of the recruitment and selection process to the next - ✅✅Yield Ratio 78. Occurrence Based Policy - ✅✅An "X"-based policy provides coverage for injuries arising out of incidents occurring during the period the policy was in effect, even if the policy subsequently expires or is not renewed by the policy-holder. With an "X" policy, it does not matter if you are covered when the suit is brought. 79. Claims-made policy - ✅✅An "X" based policy kicks in when you file a claim during the policy period. As long as an insurable event happened after the policy's retroactive date, your insurer should provide coverage. With a claims-made policy, you need to have active insurance when you file a claim. 80. Administrator - ✅✅General administrative charge of the day-to-day operations of an ALF. May be owner of hired by the organization. 81. articles of incorporation - ✅✅Information filed with a state official by persons wishing to form a corporation 82. board of directors - ✅✅Relate to top management of an organization in a governing or advisory capacity 83. By-laws - ✅✅Rules determined by internal management of a board or organization. Adopted at time of charter and define the rights and responsibilities of the board 84. Consensus Building - ✅✅Conversation style of decision making where issues and opinions are discussed- reach a shared opinion 85. Directing - ✅✅Mangement function- admin uses their position to point out the direction the company is to go to