Question 1

If a pegboard check-writing system is not used, what is the first thing that must be done when writing a check?

Accepted Answer

A) Enter the payee's name on the check. 
B) Date the check correctly. 
C) Fill in the check stub. 
D) Write the exact amount to be paid on the check. 
A) Enter the payee's name on the check. 
B) Date the check correctly. 
C) Fill in the check stub. 
D) Write the exact amount to be paid on the check.

Question 2

Something legally transferable to another party is considered:

Accepted Answer

A) principal 
B) negotiable 
C) convenient 
D) legally binding 
A) principal 
B) negotiable 
C) convenient 
D) legally binding

Question 3

If a mistake is made on a check, the maker should draw one line through the error and make the correction.

Accepted Answer

A) True 
 B)False

Question 4

A patient writes a check for $78 on an account with a balance of $285.What is the total due after the check is posted?

Accepted Answer

The answer of A patient writes a check for $78...

Question 5

If a bank cashes a check that is later returned for insufficient funds, whom does it charge to recover the amount lost?

Accepted Answer

A) The check's maker 
B) The person who received the money 
C) The person to whom the check was written 
D) The person who last endorsed the check 
A) The check's maker 
B) The person who received the money 
C) The person to whom the check was written 
D) The person who last endorsed the check

Question 6

The deposit is $450.The checkbook balance is $9,872.54.If one debit card transaction is completed on the account for $251.55, what is the balance in the account?

Accepted Answer

The answer of The deposit is $450.The checkbook balance is...

Question 7

The first thing that should be done when a NSF check is received at the physician's office is to:

Accepted Answer

A) add the check back to the patient's statement balance 
B) call the patient to let the person know that the check was returned 
C) send a certified letter to the patient to demand payment for the check 
D) add the NSF fee to the patient's statement balance 
A) add the check back to the patient's statement balance 
B) call the patient to let the person know that the check was returned 
C) send a certified letter to the patient to demand payment for the check 
D) add the NSF fee to the patient's statement balance

Question 8

What is the most common reason the ending balances in checkbooks and bank statements usually do not match?

Accepted Answer

A) Transactions are made between the preparation and receipt of the statement. 
B) Errors are commonly made when checks and deposits are recorded in the checkbook. 
C) Banks often make mistakes in the preparation of statements. 
D) Patients have written nonsufficient funds checks that do not appear on the statement. 
A) Transactions are made between the preparation and receipt of the statement. 
B) Errors are commonly made when checks and deposits are recorded in the checkbook. 
C) Banks often make mistakes in the preparation of statements. 
D) Patients have written nonsufficient funds checks that do not appear on the statement.

Question 9

A(n) __________ check has a detachable form that is used to itemize or specify the purpose for which the check is drawn.

Accepted Answer

voucher
Voucher checks have de

Question 10

__________ bonds reimburse the physician for any monetary loss caused by employees.

Accepted Answer

Fidelity
Fidelity bo

Question 11

A limited check does not have a time restriction on when it can be cashed.

Accepted Answer

A) True 
 B)False

Question 12

A routine NSF check can be filed with the district attorney's office without ever contacting the maker.

Accepted Answer

A) True 
 B)False

Question 13

Debit card transactions to be added to the deposit include those for $45, $561, and $887.What is the total of these debits?

Accepted Answer

The answer of Debit card transactions to be added to...

Question 14

When should checks from patients and other sources be deposited?

Accepted Answer

A) At the same time bills are paid 
B) As soon as possible after they are received 
C) When the bank statement is reconciled each month 
D) At the end of every week 
A) At the same time bills are paid 
B) As soon as possible after they are received 
C) When the bank statement is reconciled each month 
D) At the end of every week

Question 15

Cashier's checks sometimes are known as officer's or treasurer's checks.

Accepted Answer

A) True 
 B)False

Question 16

An insurance check arrives toward a patient's surgery for $5,694.39.If the patient's balance is $5,234, what is the balance on the patient's account after the check amount is posted?

Accepted Answer

The answer of An insurance check arrives toward a patient's...

Question 17

There is no difference between a certified check and a cashier's check.

Accepted Answer

A) True 
 B)False

Question 18

A capital sum of money due as a debt or used as a fund for which interest is either charged or paid is called the __________.

Accepted Answer

principal
Principal is the cap

Question 19

The deposit is $3,290.The checkbook balance is $16,561, but the mortgage payment on the physician's building is paid the same day, which is $3,500.What is the checkbook balance?

Accepted Answer

The answer of The deposit is $3,290.The checkbook balance is...

Question 20

If the medical assistant makes a mistake when writing a check, the best practice is to:

Accepted Answer

A) write "Void" on it and file it with the canceled checks 
B) destroy it immediately 
C) cross out the error and write in the correction 
D) erase the error and write in the correction 
A) write "Void" on it and file it with the canceled checks 
B) destroy it immediately 
C) cross out the error and write in the correction 
D) erase the error and write in the correction

Exam 23: Banking Services and Procedures

If a pegboard check-writing system is not used, what is the first thing that must be done when writing a check?

Something legally transferable to another party is considered:

If a mistake is made on a check, the maker should draw one line through the error and make the correction.

A patient writes a check for $78 on an account with a balance of $285.What is the total due after the check is posted?

If a bank cashes a check that is later returned for insufficient funds, whom does it charge to recover the amount lost?

The deposit is $450.The checkbook balance is $9,872.54.If one debit card transaction is completed on the account for $251.55, what is the balance in the account?

The first thing that should be done when a NSF check is received at the physician's office is to:

What is the most common reason the ending balances in checkbooks and bank statements usually do not match?

A(n) __________ check has a detachable form that is used to itemize or specify the purpose for which the check is drawn.

__________ bonds reimburse the physician for any monetary loss caused by employees.

A limited check does not have a time restriction on when it can be cashed.

A routine NSF check can be filed with the district attorney's office without ever contacting the maker.

Debit card transactions to be added to the deposit include those for $45, $561, and $887.What is the total of these debits?

When should checks from patients and other sources be deposited?

Cashier's checks sometimes are known as officer's or treasurer's checks.

An insurance check arrives toward a patient's surgery for $5,694.39.If the patient's balance is $5,234, what is the balance on the patient's account after the check amount is posted?

There is no difference between a certified check and a cashier's check.

A capital sum of money due as a debt or used as a fund for which interest is either charged or paid is called the __________.

The deposit is $3,290.The checkbook balance is $16,561, but the mortgage payment on the physician's building is paid the same day, which is $3,500.What is the checkbook balance?

If the medical assistant makes a mistake when writing a check, the best practice is to:

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