Financial Management & Budgeting Flashcards
7 cards from real CNA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Financial Management & Budgeting flashcards as text
A nursing home resident receives a monthly Social Security check of $1,200. After paying $950 for room and board, what is the resident's Personal Needs Allowance (PNA)?
Answer: $250
The PNA is the amount remaining after room and board costs: $1,200 - $950 = $250.
Which federal program provides health insurance coverage for low-income nursing home residents who have spent down most of their assets?
Answer: Medicaid
Medicaid covers long-term nursing home care for residents who meet income and asset eligibility requirements.
A CNA notices a resident's family member is pressuring the resident to sign over power of attorney. What should the CNA do?
Answer: Report the observation to the charge nurse
CNAs must report signs of potential financial exploitation or undue pressure to the charge nurse or supervisor immediately.
What does the term 'spend-down' mean in the context of Medicaid eligibility?
Answer: Using assets until they fall below Medicaid limits
Spend-down refers to the process where a resident depletes assets to qualify for Medicaid long-term care coverage.
Which document legally authorizes a designated person to manage a resident's financial affairs if the resident becomes incapacitated?
Answer: Durable Power of Attorney
A Durable Power of Attorney remains valid if the resident becomes incapacitated and grants the agent authority over financial decisions.
A resident asks a CNA to hold onto $50 for them 'just for safekeeping.' What is the correct response?
Answer: Politely decline and explain facility policy prohibits it
CNAs should never accept a resident's money or valuables, as this violates facility policy and could constitute financial misappropriation.
Under federal law, nursing facilities must provide residents with a written notice of their rights regarding which financial matter?
Answer: The facility's billing rates and charges
Federal law requires facilities to inform residents in writing about all charges for services before or at admission.