Question 1

The bank charges a fee of $25 for each of six NSF checks that were returned during the month.If the bank statement balance after outstanding checks are deducted is $12,543.24,what will the balance be after the fees are deducted?

Accepted Answer

The answer of The bank charges a fee of $25...

Question 2

The first thing that should be done when an 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

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 4

The physician charges $2,400 for a surgical procedure.The patient pays half of the total amount as a deposit and agrees to make payments of $200 each month until the balance is clear.After three payments,what is the patient's balance?

Accepted Answer

The answer of The physician charges $2,400 for a surgical...

Question 5

The name of the first endorser of the check indicates the last person who received the money.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A)   confidentiality statement.
B)   bond.
C)   signature card.
D)   noncompete statement.

Question 7

For offices with a no cash policy,which type of payment is typically recommended for patients without a bank account?

Accepted Answer

A)   Cashier's check
B)   Money order
C)   Voucher check
D)   Either A or B
E)   All of the above

Question 8

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

Accepted Answer

A)   pay employees.
B)   provide the physician with funds for travel expenses.
C)   pay for medical supplies.
D)   replenish petty cash.

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

The answer of __________ bonds reimburse the physician for any...

Question 11

The person who writes the check is called the drawee.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A)   Blank
B)   Quality
C)   Restrictive
D)   Special

Question 13

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

Accepted Answer

A)   Contact the person who wrote the check.
B)   File it with the district attorney's office.
C)   Send a letter refusing to see the person as a patient until the matter is resolved.
D)   Write off the account.

Question 14

Many direct deposits are processed through which of the following?

Accepted Answer

A)   ACH
B)   NACHA
C)   EPN
D)   EFT

Exam 19: Banking Services and Procedures

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

The bank charges a fee of $25 for each of six NSF checks that were returned during the month.If the bank statement balance after outstanding checks are deducted is $12,543.24,what will the balance be after the fees are deducted?

Correct Answer
verified

The physician charges $2,400 for a surgical procedure.The patient pays half of the total amount as a deposit and agrees to make payments of $200 each month until the balance is clear.After three payments,what is the patient's balance?

Correct Answer
verified

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

Correct Answer
verified

The person who writes the check is called the drawee.

Correct Answer
verified

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

Correct Answer
verified

Many direct deposits are processed through which of the following?

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

For offices with a no cash policy,which type of payment is typically recommended for patients without a bank account?

Correct Answer
verified

The name of the first endorser of the check indicates the last person who received the money.

Correct Answer
verified

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

Correct Answer
verified

Exam 19: Banking Services and Procedures

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The bank charges a fee of $25 for each of six NSF checks that were returned during the month.If the bank statement balance after outstanding checks are deducted is $12,543.24,what will the balance be after the fees are deducted?

Correct AnswerverifiedShow Answer

The physician charges $2,400 for a surgical procedure.The patient pays half of the total amount as a deposit and agrees to make payments of $200 each month until the balance is clear.After three payments,what is the patient's balance?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The person who writes the check is called the drawee.

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

Many direct deposits are processed through which of the following?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

For offices with a no cash policy,which type of payment is typically recommended for patients without a bank account?

Correct AnswerverifiedShow Answer

The name of the first endorser of the check indicates the last person who received the money.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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