Question 1

What is the main goal of inventory control?
A)To minimize the inventory investment
B)Balance supply and demand
C)Minimize carrying costs
D)All of the above

Accepted Answer

Some of the main goals of inventory control include minimizing inventory control, balancing supply and demand, and minimizing carrying costs.

Question 2

What is the definition of "lead time"?
A)The amount of time it takes to order an item
B)The amount of time it takes to dispense an item
C)The amount of time it takes for an order to be delivered
D)The amount of time between a patient's refills

Accepted Answer

Lead time is the amount of time it takes for an item to be delivered after it has been ordered.

Question 3

Why would a pharmacy keep safety stock?
A)The pharmacy is not sure about the demand of an item
B)The pharmacy is not sure about the lead time of an item
C)There is an epidemic
D)A and B only

Accepted Answer

A pharmacy keeps a safety stock of an item when they are unsure of what the demand will be and unsure of how long the lead time is.

Question 4

What is a unit dose?
A)A method of dispensing a 30-day supply of medication
B)A method of dispensing a single dose of medication to a patient
C)A method of dispensing a day's supply of medication to a patient
D)A method of storing medication

Accepted Answer

A unit dose, most commonly seen in hospitals, is a method of dispensing a single dose of medication to a patient.

Question 5

Which of the following is considered durable medical equipment?
A)Crutches
B)Gauze
C)Enalapril
D)None of the above

Accepted Answer

Crutches are considered durable medical equipment.

Question 6

What does it mean when a drug is on manufacturer back order?
A)The manufacturer is waiting for supplies.
B)The drug is in short supply.
C)The manufacturer has stopped manufacturing the medication.
D)Any or all of the above

Accepted Answer

A back order means that the drug is unavailable from the manufacture. Usually this is because of a halt in production, which could be because the manufacture is waiting for supplies or they have stopped manufacturing the medication for some reason. It could also mean that the demand for the medication is so high that the manufacture cannot make the drug fast enough to supply all the orders.

Question 7

What is the best way to stock medication on the shelf to ensure proper turn over?
A)Oldest in the back, newest in the front
B)Newest in the back, oldest in the front
C)There is no set order
D)All drugs on the shelf are the same age

Accepted Answer

Medication should be put on the shelf with the newest units in the back and the oldest units in the front to ensure proper turnover.

Question 8

What medications should be put away first when an order arrives?
A)Narcotics
B)Controlled substances
C)Refrigerated/freezer items
D)Antibiotics

Accepted Answer

When an order comes in, the refrigerated/freezer items should be checked and put away first to avoid costly spoilage.

Question 9

When adding stock to the pharmacy shelves, which of the following should be done?
A)Remove outdated stock first
B)Rotate the stock on the shelf, putting the product with the longest expiration dates in the back
C)Move the product with the shortest expiration dates to the front
D)All of the above

Accepted Answer

All of the above should be done when adding stock to the pharmacy's shelves. This is to ensure that there are no outdated products on the shelves. This also ensures that the stock with the shortest time until expiration gets moved to the front, providing the best opportunity for it to be used before its expiration.

Question 10

Which of the following most accurately describes perpetual inventory?
A)A method of maintaining inventory levels in which products are ordered at periodic intervals
B)A method of maintaining inventory levels in which products are continuously ordered as they are used
C)A method of maintaining inventory levels in which products are ordered quarterly
D)A method of maintaining inventory levels in which products are ordered upon request from the patient

Accepted Answer

Perpetual inventory is a method of maintaining inventory levels in which products are continuously ordered, as they are used. This is to ensure that products are continuously replenished as they are used. When products are ordered at periodic intervals, the method of maintaining inventory levels is called periodic replenishment inventory.

Question 11

Which of the following terms best describes the complete list of products the pharmacy has in stock?
A)Inventory
B)Formulary
C)Average wholesale price
D)Vendor

Accepted Answer

An inventory is a list of all available products that the pharmacy has in stock. A formulary is the list of medications covered by a particular hospital or insurance company. The average wholesale price is the cost of acquiring a drug from a wholesaler. A vendor is someone outside the company that sells a product to you.

Question 12

How often must a complete inventory of all controlled substances be performed?
A)Every month
B)Every year
C)Every 2 years
D)Every 5 years

Accepted Answer

A complete inventory of all controlled substances must be performed every 2 years. This includes all of the Schedule II through V controlled substances. An actual physical count of Schedule II controlled substances must be made; Schedule III through V can be estimated, if the bottle contains less than 1000 doses, but must be physically counted if the bottle contains more than 1000 doses.

Question 13

When performing the required biennial inventory of all controlled substances, which of the following is false?
A)All Schedule II medications must be physically counted
B)Schedule III - V medications may be estimated if the package size is less than 1000 tablets
C)Schedule III - V medications must be physically counted if the package size is greater than 1000 tablets and the package has been opened
D)Schedule III - V medications must all be physically counted every two years

Accepted Answer

Schedule III - V medications do not need to be physically counted every two years. They only require an actual physical count if the package size is greater than 1000 tablets and the package has been opened. All Schedule II medications must be physically counted, by hand.

Question 14

If a previously non-controlled medication is added to the federal controlled substance scheduling system, when does it need to be inventoried?
A)On the biennial inventory date
B)On January 1 following the scheduling change
C)The effective date of the scheduling change
D)On July 1 following the scheduling change

Accepted Answer

A previously non-controlled medication that is added to the federal controlled substance scheduling system must be inventoried on the effective date of the scheduling change. Since scheduled medications are drugs of abuse, it is important to perform an inventory of any medication that is added to the federal controlled substance list. The inventory records should be kept with the other inventory records for the medications of the same schedule.

Question 15

When performing the biennial controlled substance inventory, which of the following is false, with regard to Schedule II medications?
A)Records must be kept separate from other controlled substance inventory records
B)Schedule II medications must be physically counted, by hand
C)On hand quantities of Schedule II medications can be estimated if the package size is less than 1000 units
D)Schedule II medications in the pharmacy awaiting disposal must be counted as well

Accepted Answer

On hand quantities of Schedule II medications cannot be estimated if the package size is less than 1000 units. All Schedule II medications must be physically counted, by hand for every biennial inventory. Estimating the quantities of these medications is not permitted. All Schedule II medications in the pharmacy must be physically counted, including those awaiting disposal.

Question 16

Which of the following inventories needs to be completed every two years?
A)Inventory of all medications in the pharmacy
B)Inventory of all non-controlled medications
C)Inventory of all controlled substances, Schedule II - V
D)Inventory of only Schedule II medications

Accepted Answer

An inventory of all controlled substances in Schedule II - V must be completed at least every 2 years. Some pharmacies perform this inventory annually, to ensure that they are in compliance with federal regulations. An inventory of all medications may be done annually, depending on the pharmacy, but this is at the discretion of the pharmacy owner.

Question 17

Which of the following is a federally required inventory?
A)Annual inventory of all medications in the pharmacy
B)Biennial inventory of all non-controlled medications
C)Biennial inventory of all controlled substances, Schedule II - V
D)Annual inventory of only Schedule II medications

Accepted Answer

An inventory of all controlled substances in Schedule II - V must be completed at least every 2 years. Some pharmacies perform this inventory annually to be sure that they are in compliance with federal regulations. An inventory of all medications may be done annually, depending on the pharmacy, but this is at the discretion of the pharmacy owner.

Question 18

Which of the following employees is responsible for maintaining the pharmacy's inventory?
A)Pharmacy manager
B)Pharmacists
C)Pharmacy technician
D)All of the above

Accepted Answer

All of the above staff members are responsible for maintaining the pharmacy's inventory. All of the staff members listed should actively work to maintain the pharmacy's inventory, to ensure that a proper stock of medications is always on hand. The team should work together to make sure inventory systems are working properly, to ensure that medications are reordered or replenished, whenever stock is low.

Question 19

Which of the following inventory systems most accurately describes one in which medications are continuously ordered as the stock decreases to pre-determined minimum levels?
A)Perpetual inventory
B)Periodic inventory
C)Annual inventory
D)Occasional inventory

Accepted Answer

Perpetual inventory is an inventory system in which medications are continuously ordered as the stock decreases to pre-determined minimum levels. This system ensures that as medications are used, more stock is ordered, to replenish the stock that was used. Periodic inventory is one in which medications are ordered at set intervals. An annual inventory is one that is done yearly.

Question 20

How often must a complete inventory of Schedule III - V controlled substances be completed?
A)Every month
B)Every year
C)Every 2 years
D)Every 5 years

Accepted Answer

A complete inventory of all Schedule III - V controlled substances must be performed at least every 2 years. Schedule III through V medication quantities can be estimated, if the bottle contains less than 1000 doses. However, they must be physically counted if the bottle contains more than 1000 doses.

Quiz 2: Inventory

What is the main goal of inventory control?

What is the definition of "lead time"?

Why would a pharmacy keep safety stock?

What is a unit dose?

Which of the following is considered durable medical equipment?

What does it mean when a drug is on manufacturer back order?

What is the best way to stock medication on the shelf to ensure proper turn over?

What medications should be put away first when an order arrives?

When adding stock to the pharmacy shelves, which of the following should be done?

Which of the following most accurately describes perpetual inventory?

Which of the following terms best describes the complete list of products the pharmacy has in stock?

How often must a complete inventory of all controlled substances be performed?

When performing the required biennial inventory of all controlled substances, which of the following is false?

If a previously non-controlled medication is added to the federal controlled substance scheduling system, when does it need to be inventoried?

When performing the biennial controlled substance inventory, which of the following is false, with regard to Schedule II medications?

Which of the following inventories needs to be completed every two years?

Which of the following is a federally required inventory?

Which of the following employees is responsible for maintaining the pharmacy's inventory?

Which of the following inventory systems most accurately describes one in which medications are continuously ordered as the stock decreases to pre-determined minimum levels?

How often must a complete inventory of Schedule III - V controlled substances be completed?