Exam 17: Banking Services and Procedures

If the bank charges a fee of $12 each time the average balance drops below $5,000, and this has happened seven times during the year, what is the total in these fees that the physician will pay?

Which of the following endorsements includes words specifying the person to whom the endorser makes the check payable?

What is the first thing the medical assistant should do when a check is returned unpaid by the bank?

Today's checks include $56, $73, $89, $23, $20, and $82. What is the total in checks for the daily deposit?

The maker of the check is the person to whom it is written.

A patient writes a check for $44 that is returned from the bank. The physician charges a fee of $30 for NSF checks. How much should be added back to the patient's account?

Many banks offer applications that can be downloaded for free on smart phones and computers that will let the user deposit checks from any location.

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 __________.

Any individual, corporation, or legal party who signs a check or any type of negotiable instrument is considered the

Checks received in the mail today include those for $23.03, $87, and $830. Checks taken in the office from patients include those for $25, $55, $30, and $255. What is the total in checks that will be included in the day's deposit?

A patient writes a check in the amount of $56 toward her account of $569. What is her balance after the payment?

Banks ask to be notified within a reasonable time if the customer finds a(n) __________ on his or her bank statement.

A check made payable to "Cash" is most commonly used in the physician's office to

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?

An instrument that is legally transferable to another party is said to be __________.

The person who writes the check is called the drawee.

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

Blank endorsements make checks payable to the bearer.

The physician uses the debit card for $782.19 to pay for medical supplies, $56 for office supplies, and $76 to stock the employee break room refrigerator. If the balance in the checkbook is $32,830.43, what is the balance after the debit card activity?

When should checks from patients and other sources be deposited?