In a market, each transaction is individually negotiated and executed __________ .

	A.	By the seller and buyer establishing a close relationship
	B.	At arm's length
	C.	Both A and B
	D.	Neither A nor B

The book "The Principles of Scientific Management", published in 1911, was written by:

	A.	John Adams
	B.	A. H. Maslow
	C.	Elton Mayo
	D.	None of the above

Which directional strategy could be considered equivalent to Maslow's concept of self-actualization?

	A.	Vision
	B.	Mission
	C.	Strategy
	D.	Objectives

The _________________ allowed for enforcement actions such as product recalls.

	A.	Safe Medical Devices Act of 1990
	B.	Medical Device User Fee and Modernization Act of 2002
	C.	Food and Drug Administration Amendments Act of 2007
	D.	Food and Drug Administration Safety and Innovation Act of 2012

Which statement about bargaining power of suppliers is correct?

	A.	The bargaining power of suppliers is weak if the raw materials and other inputs provided by the supplier are unique and differentiated.
	B.	If the organization can charge a premium price for its offerings, it can make above-average profits.
	C.	Suppliers who have a large market share have less bargaining power.
	D.	Suppliers of generic chemicals exercise considerable bargaining power.

Laws that protect the privacy of an individual's health information are:

	A.	CHIP, ACA and HITECH
	B.	HIPPA and HITECH
	C.	HIPPA, ACA, HITECH
	D.	ACA and HIPPA

In the neo-classical view of the firm:

	A.	There is no role for the entrepreneur
	B.	There is no role for strategy
	C.	Both A and B are true
	D.	Neither A nor B is true

Which of the following lists the hierarchy of strategies in the right order?

	A.	Corporate, Business, Divisional, Functional
	B.	Business, Corporate, Functional, Divisional
	C.	Divisional, Business, Functional, Corporate
	D.	None of the Above

In the United States, most care occurs in the ______________.

	A.	Outpatient setting
	B.	Hospital
	C.	Ambulatory setting
	D.	A and B
	E.	A and C

Demand on medical care is price _______ and preventative care is price _______.

	A.	Elastic, elastic
	B.	Elastic, inelastic
	C.	Inelastic, elastic
	D.	inelastic, inelastic

Which of the following is a characteristic of a vision statement?

	A.	It defines goals for the immediate future
	B.	It serves to differentiate the organization from others
	C.	It keeps the organization aligned towards its goals
	D.	It guides the structure of the organization

CBO stands for:

	A.	Community Based Organization
	B.	Cost Based Optimizer
	C.	Congressional Budget Office
	D.	Control Board Operator

The National Board of Medical Examiners (NBME) was formed in 1915 to administer a single uniform national examination. Which of the following statements is true?

	A.	Each state uses this test
	B.	Each state follows a common set of standards for passing
	C.	Both A and B
	D.	Neither A nor B

The Drug Safety Board:

	A.	creates state-based health insurance exchanges
	B.	monitors healthcare quality through licensure, accreditation and oversight
	C.	advises the Director of the Center for Drug Evaluation and Research on emerging drug safety issues and communicating safety information
	D.	controls physician networks and manage reimbursement

If a generic manufacturer demonstrates that the generic drug is bioequivalent to the brand name drug (patented drug) originally approved by the FDA, then the generic manufacturer does not have to repeat:

	A.	Animal studies and clinical studies
	B.	Inspection and Testing
	C.	Market research
	D.	Test of Good Manufacturing Practices