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The Medical Assistant Study Set 2

Medicine

Quiz 17 :

Banking Services and Procedures

Quiz 17 :

Banking Services and Procedures

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Something legally transferable to another party is considered
Free
Multiple Choice
Answer:

Answer:

B

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Who in the office is authorized to sign checks?
Free
Multiple Choice
Answer:

Answer:

C

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

Answer:

D

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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
Multiple Choice
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Which of the following types of accounts requires a minimum balance and draws interest at the highest rates?
Multiple Choice
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When should checks from patients and other sources be deposited?
Multiple Choice
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A capital sum of money due as a debt or used as a fund for which interest is either charged or paid is called
Multiple Choice
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The first thing that should be done when an NSF check is received at the physician's office is to
Multiple Choice
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What is the first thing the medical assistant should do when a check is returned unpaid by the bank?
Multiple Choice
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The country is divided into how many Federal Reserve districts?
Multiple Choice
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Which of the following digits in an RTN represent the individual bank identification number?
Multiple Choice
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Which type of bank account would be best for maintaining funds that are used for paying seasonal expenses, such as insurance premiums?
Multiple Choice
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What is required for a check to be negotiable?
Multiple Choice
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A plan in which payments are transferred, usually electronically, by a paying agency directly to the account of a recipient is called
Multiple Choice
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Which of the following best describes an ACH transfer of funds between two separate banking institutions?
Multiple Choice
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Which of the following is not one of the four types of endorsements?
Multiple Choice
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A check made payable to "Cash" is most commonly used in the physician's office to
Multiple Choice
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Any individual, corporation, or legal party who signs a check or any type of negotiable instrument is considered the
Multiple Choice
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A check drawn on the bank's own account and signed by an authorized bank official is called a
Multiple Choice
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An insured account requiring a minimum balance that draws interest at a higher percentage than a regular savings account is called a __________ account.
Multiple Choice
Answer:
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