Exam 17: Banking Services and Procedures

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

__________ bonding covers specific individuals.

The country is divided into how many Federal Reserve districts?

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

Who in the office is authorized to sign checks?

A plan in which payments are transferred, usually electronically, by a paying agency directly to the account of a recipient is called

Which of the following best describes an ACH transfer of funds between two separate banking institutions?

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

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?

During the monthly reconciliation of the checkbook, the bank statement balance is $16,589.24. The checkbook balance is $16,569.24. The medical assistant should look for an error in what amount?

Which of the following is not one of the four types of endorsements?

If the medical assistant is allowed to sign checks on the physician's business account, he or she must sign a document at the bank called a

The checks received today include $56, $78, $57, $43, and $5,633.12. What is the total amount in checks that will be added to the deposit?

The physician uses a debit card to pay for purchases totaling $46, $50.02, $802.98, and $73. What is the checkbook balance after the debit card purchases if the account balance is $17,394.83 before the transactions?

Banking by mail is never done now that the use of the Internet is so prevalent.

When should checks from patients and other sources be deposited?

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

Which of the following types of accounts requires a minimum balance and draws interest at the highest rates?

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

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