Nursing Elites

1. When should a critical pathway be revised?

• A. When variances show a new trend.
• B. When the variances show a new trend.
• C. When a member of the team retires.
• D. When the client leaves the hospital.

Correct answer: B

Rationale: A critical pathway should be revised when variances in the patient's progress indicate a new trend or deviation from the expected course of treatment. This allows healthcare providers to adjust the pathway to ensure optimal patient care and outcomes. Changes in the critical pathway are not typically driven by its length or external factors like team member retirements or client discharges. Therefore, the correct answer is B. Choice A is a better phrasing of the correct answer, emphasizing the importance of variances showing a new trend. Choices C and D are irrelevant to the patient's progress and treatment plan, making them incorrect.

2. What is the difference between the amounts that were budgeted for specific revenue or cost and the actual revenue or cost that resulted during the course of activities?

• A. Budget
• B. Variable
• C. Variance
• D. Premiums

Correct answer: C

Rationale: The correct answer is C, Variance. Variance represents the distinction between the planned budgeted amount for a particular revenue or cost and the actual amount that occurred during the activities. In financial management, variance analysis is crucial for assessing performance and identifying areas that deviate from the budgeted expectations. Choice A, 'Budget,' is incorrect as it refers to the planned amount rather than the difference between planned and actual amounts. Choice B, 'Variable,' does not specifically address the comparison between budgeted and actual figures. Choice D, 'Premiums,' is unrelated to the concept of comparing budgeted and actual values in the context of financial analysis.

3. A manager is working on the personnel budget for the year. The manager anticipates needing to replace 832 benefit hours. How many FTEs (Full-Time Equivalents) will be needed for replacement?

• A. 0.40 FTEs
• B. 17.0 FTEs
• C. 0.05 FTEs
• D. 1.0 FTEs

Correct answer: A

Rationale: To calculate the number of Full-Time Equivalents (FTEs) needed for replacement, divide the number of benefit hours (832) by the standard number of hours in a full-time work year (2,080). Therefore, 832 benefit hours ÷ 2,080 = 0.4 FTEs, which is equivalent to 0.40 FTEs. Choice B (17.0 FTEs) is incorrect as it is a significantly high number that does not align with the calculation. Choice C (0.05 FTEs) is incorrect because it is too low for the given number of benefit hours. Choice D (1.0 FTEs) is incorrect as it represents a full-time position, which is not the correct calculation for replacing 832 benefit hours.

4. When preparing for a meeting to discuss the annual budget, what would be the best approach to ensure all relevant points are covered?

• A. Prepare an agenda
• B. Use visual aids
• C. Invite only key stakeholders
• D. Review previous budgets

Correct answer: A

Rationale: Preparing an agenda is the best approach when discussing the annual budget to ensure that all relevant points are covered. An agenda helps structure the meeting, outline key topics, allocate time efficiently, and keep the discussion focused on important budget-related matters. It also assists in setting clear objectives and expectations for the meeting participants, ensuring that all necessary points are addressed and that the meeting stays on track. While using visual aids, inviting only key stakeholders, and reviewing previous budgets can be important steps in the budget discussion process, none of these can replace the crucial role of having a well-prepared agenda.

5. Which of the following are essential components of strategic planning? (Select all that apply.)

• A. Values
• B. Vision & Mission statements
• C. Reengineering
• D. A & B

Correct answer: D

Rationale: Values and vision and mission statements are indeed essential components of strategic planning. Values help define the organization's core beliefs and principles, guiding its decisions and actions. Vision and mission statements articulate the organization's goals, purpose, and direction, serving as a roadmap for strategic planning and decision-making. Reengineering is not a core component of strategic planning; it involves the redesign of processes to improve performance, efficiency, and quality. Therefore, option C is incorrect. The correct answer is D because both values and vision and mission statements play crucial roles in shaping an organization's strategic planning process.

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