Question 1

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 2

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

Question 3

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.

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

Fidelity
Fidelity bo...

Question 6

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 7

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 8

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 9

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

Accepted Answer

A) True 
 B)False

Question 10

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 11

Something legally transferable to another party is considered:

Accepted Answer

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

Question 12

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 13

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 14

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.

Question 15

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 16

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

Accepted Answer

A) True 
 B)False

Question 17

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

Question 18

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

Question 19

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 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

Exam 23: Banking Services and Procedures

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

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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 __________.

Correct AnswerverifiedprincipalPrincipal is the cap...View AnswerShow Answer

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

Correct AnswerverifiedFidelityFidelity bo...View AnswerShow Answer

When should checks from patients and other sources be deposited?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedvoucherVoucher checks have de...View AnswerShow Answer

Something legally transferable to another party is considered:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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principal
Principal is the cap...
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Fidelity
Fidelity bo...
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voucher
Voucher checks have de...
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