Pharmacy Inventory Management (Domain 7)

Question 1

What is the meaning of the acronym “P&T”?

Answer 1

Pharmacy and Therapeutics Committee

Question 2

What is the meaning of the acronym “PAR”?

Answer 2

Periodic Automatic Replacement

Question 3

What is the meaning of the acronym “JIT”?

Answer 3

Just In Time

Question 4

Where should insulin be stored?

Answer 4

in the refrigerator

Question 5

Where is Xalantan stored in the pharmacy?

Answer 5

in the refrigerator

Question 6

What type of inventory must be taken every 2 years?

Answer 6

biennial

Question 7

What type of inventory identifies the quantity of a specific drug at a particular point in time?

Answer 7

perpetual

Question 8

What is another term for 80/20 report?

Answer 8

velocity report

Question 9

What number is assigned to a particular batch of medication?

Answer 9

lot number

Question 10

What is the name for an approved list of medications?

Answer 10

Formulary

Question 11

What is another term for contract compliance?

Answer 11

BID

Question 12

What temperature is defined as any temperature between 30° and 40° C (86° and 104° F)?

Answer 12

warm

Question 13

What temperature is defined as not to exceed 8° C (46° F)

Answer 13

cold

Question 14

What temperature is defined as any temperature between 15° and 30° C (59° and 86° F)?

Answer 14

room temperature

Question 15

What is the meaning of the acronym “DAR”?

Answer 15

Drug Accountability Record

Question 16

Who establishes the formulary for an organization or institution?

Answer 16

Pharmacy and Therapeutics Committee

Question 17

Which automated system is commonly used to manage controlled substances?

Answer 17

bar coding

Question 18

What is the purpose of a group purchasing organization (GPO)?

Answer 18

Negotiates prices for hospital pharmacies (but not purchasing)

Question 19

What is the primary source of medication for pharmacies?

Answer 19

Manufacturers and wholesalers

Question 20

What is a compliance report?

Answer 20

a report summarizing all items that were not purchased on bid

Question 21

What is an 80/20 report?

Answer 21

a detailed summary of purchasing history based on the 80/20 rule, designating medications that account for 80% of the drug costs for that period of the time

Question 22

What is a PAR report?

Answer 22

A PAR report identifies the PAR level for each medication in stock

Question 23

What is a velocity report?

Answer 23

it provides a measure of the rate of work accomplished per iteration unit of time.

Question 24

What does the term “BID” mean?

Answer 24

it is used to indicate the purchase of product whose price has been negotiated

Question 25

Who assigns a beyond-use date for a medication?

Answer 25

the pharmacy assigns a beyond-use date whenever a compound is prepared or repackaged.

Question 26

Who provides the guidelines for beyond-use dating?

Answer 26

the USP

Question 27

What is the first step the pharmacy should do after being notified of a drug recall?

Answer 27

check the pharmacy shelves first. *If there is any recalled medication in stock, pull it aside and notify the pharmacist. The recalled medication should be kept separate from the remaining pharmacy inventory so it is not dispensed to a patient.

Question 28

Which pharmacy reference book contains drug contains drug costs?

Answer 28

the Drug Topics Red Book

Question 29

Which pharmacy reference book contains emergency information, clinical reference guides, practice management, and professional development?

Answer 29

the Drug Topics Red Book

Question 30

Which pharmacy reference book contains pharmacy and health care organizations, drug reimbursement information, manufacturer and wholesaler information, and product identification?

Answer 30

the Drug Topics Red Book

Question 31

Which pharmacy reference book contains RX product listings, OTC and nondrug products listing, and complementary and herbal product referencing?

Answer 31

the Drug Topics Red Book

Question 32

Where can an approved listing of medications that may be used within an institution or organization be found?

Answer 32

a formulary

Question 33

Where can a list of approved pharmacy abbreviations be found?

Answer 33

a formulary

Question 34

Where can policies and procedures in a pharmacy be found?

Answer 34

a formulary

Question 35

Where can protocols, nutritional products available and dosing schedules for medications be found?

Answer 35

a formulary

Question 36

Where can medical guidelines for prescribing of specific medications be found?

Answer 36

a formulary

Question 37

What is included in a formulary (6)?

Answer 37

1) an approved listing of medications that may be used within an institution or organization 2) approved pharmacy abbreviations 3) policies, procedures, and protocols 4) nutritional products available 5) dosing schedules for medications 6) medical guidelines for prescribing of specific medications

Question 38

Who pays the freight charges when shipping terms note "FOB destination"?

Answer 38

The seller

Question 39

What is the meaning of COGS?

Answer 39

Cost of goods sold

Question 40

What is a unit-of-use container?

Answer 40

a container that holds a specific quantity of drug product that is to be dispensed without any other modification than the label

Question 41

When is a hospital's drug formulary updated?

Answer 41

every 12 to 18 months

Question 42

How are unused cytotoxic medications disposed?

Answer 42

with biohazardous waste

Question 43

What is a benefit of belonging to a group purchasing organization?

Answer 43

guaranteeing preferred pricing over a period of 1 year or more

Question 44

What does a pharmacy's inventory turnover rate indicate?

Answer 44

the number of times in a year the inventory has been used and reordered

Question 45

What is a purchase order?

Answer 45

a number used to identify an order

Question 46

What are 4 other names for a restrictive formulary?

Answer 46

selective formulary; limited formulary; partially closed formulary; managed formulary

Question 47

Which term refers to the document presented by the individual delivering an order that identifies the number of boxes or totes?

Answer 47

shipper's manifest

Question 48

What type of inventory is performed to determine the value of the medications in a pharmacy?

Answer 48

physical inventory (at least once a year)

Question 49

What term refers to the selection of a drug in a class of drugs to be dispensed when any drug in that classification is prescribed?

Answer 49

therapeutic substitution