NUR631 Strategic Skills for Nurse Executive Leaders Final Exam Review Q & A 2026 (Complete And Verified Study material) (22pages) LEARNEXAMS

1. When developing a budget, which ethical principle is most important to consider? a) Justice b) Nonmaleficence c) Beneficence d) Autonomy Answer: a) Justice. Rationale: Justice in budget development ensures fair distribution of resources and services, which is crucial in healthcare settings. 2. What is a key ethical consideration when allocating resources in nursing leadership? a) Cost-effectiveness b) Patient preferences c) Staffing needs d) Equity Answer: d) Equity. Rationale: Equity ensures that resources are allocated based on patient needs and not on other factors like ability to pay or social status. 3. Which of the following best describes a capital budget? a) A projection of income and expenses for day-to-day operations. b) A plan for long-term investments in facilities and equipment. c) A report detailing the financial position of the organization. d) An outline of the organization's financial goals and strategies. Answer: b) A plan for long-term investments in facilities and equipment. Rationale: Capital budgets are used for significant investments that have a long-term impact on the organization. 4. In controlling operating budgets, what is a primary ethical concern for nurse leaders? a) Maximizing profits b) Reducing waste c) Ensuring quality of care d) Increasing efficiency Answer: c) Ensuring quality of care. Rationale: While controlling costs is important, maintaining the quality of patient care is an ethical