Exam 33: Banking Procedures

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If a stop payment is placed on a check,the bank will:

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​There are precautions to be observed when accepting checks.Match whether the following statements are considered a best practice (good policy)or not a best practice (not good policy).Note: Answers may be used more than once. -​If the unique colored background is not present,the check is not authentic

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There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once. -​Because the debit process is similar to a cash transaction,the fees that a business pays on debit transaction are smaller than credit card or check fees

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The MICR numbers are numbers and symbols and contain the nine-digit ____ number.

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​There are precautions to be observed when accepting checks.Match whether the following statements are considered a best practice (good policy)or not a best practice (not good policy).Note: Answers may be used more than once. -​Accept a postal money order with only one endorsement

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When preparing a deposit slip,if there are more checks than can be listed on the front of the slip,you should:

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​There are precautions to be observed when accepting checks.Match whether the following statements are considered a best practice (good policy)or not a best practice (not good policy).Note: Answers may be used more than once. -​Accept a check written for more than the amount due so patient can receive cash back

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Match each term with its definition. -Banking machine operated by inserting a debit,credit,or bank card and entering a personal identification number code

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A ____ check is a check presented too long after it was written to be honored by the bank.

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There are pros and cons of accepting credit and debit cards for payment in the medical practice.Match the description to either a "pro" or "con." Note: Answers may be used more than once. -​Requires the minor,but additional,step of adding a pin pad to a credit card terminal

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Traveler's checks are listed as ____ on a deposit slip.

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Match each term with its definition. -Guaranteed check that is always acceptable when a personal check is not

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Match each term with its definition. -Record of checking account activity sent to a customer,usually on a monthly basis

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A check will be instantly returned by the bank if:

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Match each term with its definition. -Method of crediting and debiting accounts by computer without checks or deposit slips

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​There are precautions to be observed when accepting checks.Match whether the following statements are considered a best practice (good policy)or not a best practice (not good policy).Note: Answers may be used more than once. -​Accept a third-party check

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A check must include some form of which phrase to be negotiable?

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​There are precautions to be observed when accepting checks.Match whether the following statements are considered a best practice (good policy)or not a best practice (not good policy).Note: Answers may be used more than once. -​Accept a postal money order with more than one endorsement

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