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>> Free CPHRM Exam Questions <<
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NEW QUESTION # 56
The following is a table of expense and indemnity figures for an organization's last 6 years.
What is the ratio of total incurred expense to total incurred indemnity for Year 4?
Answer: A
Explanation:
According to Health Care Risk Management principles supported by ASHRM and the American Hospital Association Certification Center, total incurred amounts include both paid amounts and reserves. Incurred expense equals expense paid plus expense reserves. Incurred indemnity equals indemnity paid plus indemnity reserves.
For Year 4:
Total incurred expense = $25,000 reserves + $15,000 paid = $40,000.
Total incurred indemnity = $150,000 reserves + $75,000 paid = $225,000.
The ratio of total incurred expense to total incurred indemnity is calculated as:
$40,000 ÷ $225,000 = 0.1778, which rounds to approximately 0.18.
However, among the answer options provided, the closest value is 0.20 only if rounded broadly. Since precise calculation yields approximately 0.18, the mathematically correct ratio is approximately 0.18.
In risk financing analysis, expense-to-indemnity ratios help evaluate claims handling efficiency and cost allocation. Monitoring this ratio assists in forecasting defense costs, evaluating litigation management strategies, and supporting actuarial review. Accurate calculation of incurred values is essential for financial planning and reserve adequacy assessment.
NEW QUESTION # 57
According to The Joint Commission, which of the following should be done to patient-owned electrical devices entering the facility?
Answer: D
NEW QUESTION # 58
Ultimately, the accountability for the risk management program belongs to:
Answer: C
Explanation:
Boards are ultimately accountable for oversight of organizational risk, including patient safety, quality, compliance, and financial sustainability. While executives and risk leaders manage day-to-day operations, board governance sets expectations, ensures resources, monitors performance, and holds leadership accountable for corrective action. Risk management objectives at the governance level include approving risk appetite, reviewing top enterprise risks, ensuring systems exist for event reporting and learning, and verifying that mitigation plans are implemented and effective. In litigation and regulatory scrutiny, board oversight can be a critical factor: a board that demands transparency, tracks harm signals, and supports safety investment strengthens the organization's defensibility and reduces preventable harm.
NEW QUESTION # 59
A hospital risk manager has been called to the Neonatal Intensive Care Unit to discuss a 25-week premature infant whose parents are refusing a planned blood transfusion due to their religious beliefs. After gathering information on the infant's condition and hearing the parents and the healthcare professionals disagree on the best interests of the infant, the risk manager should
Answer: D
Explanation:
According to Health Care Risk Management standards supported by ASHRM and the American Hospital Association Certification Center, while parents generally serve as surrogate decision-makers for minors, their authority is not absolute. When refusal of treatment places a child at significant risk of serious harm or death, healthcare providers have an ethical and legal obligation to act in the best interests of the child.
In cases involving life-sustaining treatment for a premature infant, refusal of a medically necessary blood transfusion may constitute potential medical neglect if it threatens the infant's survival. When disagreement persists after appropriate communication and ethics consultation, and the infant's life is at risk, the appropriate step is to seek judicial intervention. Contacting legal counsel to obtain an emergency court order allows the state to exercise its parens patriae authority to protect the child's welfare.
An ethics consultation may help clarify values and promote dialogue but does not override urgent medical necessity. Simply prohibiting or proceeding without legal authority exposes the organization to liability.
Legal and regulatory objectives emphasize protecting vulnerable patients while respecting due process.
Therefore, seeking an emergency court order through legal counsel is the appropriate action.
NEW QUESTION # 60
The ultimate goal of Enterprise Risk Management (ERM) is to:
Answer: A
Explanation:
ERM integrates clinical, operational, financial, legal, and strategic risks into a single governance approach so leadership can prioritize resources based on enterprise objectives-patient safety, quality, financial sustainability, and regulatory compliance. The goal is not "zero risk," butoptimized risk response: reduce likelihood and severity where feasible, and alignrisk financing(insurance, reserves, captives, contractual transfer) to the organization's risk appetite and volatility. Risk management objectives in healthcare ERM include strengthening high-reliability clinical systems, improving compliance, preventing reputational harm, and ensuring continuity of operations during crises. ERM also improves board oversight by providing a transparent risk register, consistent scoring, and accountability for mitigation plans. Ultimately, ERM is a decision system that helps leaders invest where risk reduction and value are highest.
NEW QUESTION # 61
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