MA 111 TEST REVIEW QUESTIONS WITH ACCURATE ANSWERS.
Which type of bank account would be best for maintaining funds that are used
for paying seasonal expenses, such as insurance premiums? - accurate
answers-Interest-bearing checking account that requires a high minimum
balance.
If a bank cashes a check that is later returned for insufficient funds, whom
does it charge to recover the amount lost? - accurate answers-The person who
last endorsed the check.
When should checks from patients and other sources be deposited? - accurate
answers-ASAP after received.
Which of the following is not one of the four types of endorsements? -
accurate answers-Quality
Which is the first thing the MA should do when a check is returned unpaid by
the bank? - accurate answers-Contact the person who wrote the check.
A check drawn on the bank's own account and signed by an authorized bank
official is called a - accurate answers-Cashier's check
An individual, corporation, or legal party who signs a check or any type of
negotiable instruments is considered the - accurate answers-Maker
A capital sum of money due as a debt or used as a fund for which interest is
either charged or paid is called - accurate answers-Principal
The country is divided into how many Federal Reserve districts? - accurate
answers-12
An insured account requiring minimum balance that draws interest at a
higher percentage than a regular savings account is called a ______ account. -
accurate answers-Money market savings
A plan in which payments are transferred, usually electronically, by a paying
agency directly to the account of a recipient is called - accurate answers-Direct
deposit
, Something legally transferable to another party is considered - accurate
answers-Negotiable
A check made payable to "Cash" is most commonly used in the physician's
office to - accurate answers-Replenish petty cash
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 is called a - accurate
answers-Signiture card
The first thing that should be done when an NSF check is received at the
physician's office is to - accurate answers-Call the patient to let the person
know that the check was returned.
Which of the following sypes of accounts requires a minumum balance and
draws interest at the highest rates? - accurate answers-Money market savings
account.
Who in the office is authorised to sign checks? - accurate answers-Only those
whose names appear on the signiture card.
What is required for a check to be negotiable? - accurate answers-All of the
above; Be written and signed by the drawer, Contain a promise or order to
pay a sum of money, Be payable on demand
Which of the following digits in a RTN represents the individual bank
identification number? - accurate answers-Last six digits
Which of the following best describes an ACH transfer of funds between two
seperate banking institutions? - accurate answers-Both accounts are not
verified and funds may take several days to be available.
For offices with a no cash policy, which type of payments is typically
recommended for patients without a bank account? - accurate answers-Money
order
Which of the following is required for a check endorsement? - accurate
answers-All of the above; Ink pen or rubber stamp, On the back of the check,
Across the left or perforated end
Which type of bank account would be best for maintaining funds that are used
for paying seasonal expenses, such as insurance premiums? - accurate
answers-Interest-bearing checking account that requires a high minimum
balance.
If a bank cashes a check that is later returned for insufficient funds, whom
does it charge to recover the amount lost? - accurate answers-The person who
last endorsed the check.
When should checks from patients and other sources be deposited? - accurate
answers-ASAP after received.
Which of the following is not one of the four types of endorsements? -
accurate answers-Quality
Which is the first thing the MA should do when a check is returned unpaid by
the bank? - accurate answers-Contact the person who wrote the check.
A check drawn on the bank's own account and signed by an authorized bank
official is called a - accurate answers-Cashier's check
An individual, corporation, or legal party who signs a check or any type of
negotiable instruments is considered the - accurate answers-Maker
A capital sum of money due as a debt or used as a fund for which interest is
either charged or paid is called - accurate answers-Principal
The country is divided into how many Federal Reserve districts? - accurate
answers-12
An insured account requiring minimum balance that draws interest at a
higher percentage than a regular savings account is called a ______ account. -
accurate answers-Money market savings
A plan in which payments are transferred, usually electronically, by a paying
agency directly to the account of a recipient is called - accurate answers-Direct
deposit
, Something legally transferable to another party is considered - accurate
answers-Negotiable
A check made payable to "Cash" is most commonly used in the physician's
office to - accurate answers-Replenish petty cash
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 is called a - accurate
answers-Signiture card
The first thing that should be done when an NSF check is received at the
physician's office is to - accurate answers-Call the patient to let the person
know that the check was returned.
Which of the following sypes of accounts requires a minumum balance and
draws interest at the highest rates? - accurate answers-Money market savings
account.
Who in the office is authorised to sign checks? - accurate answers-Only those
whose names appear on the signiture card.
What is required for a check to be negotiable? - accurate answers-All of the
above; Be written and signed by the drawer, Contain a promise or order to
pay a sum of money, Be payable on demand
Which of the following digits in a RTN represents the individual bank
identification number? - accurate answers-Last six digits
Which of the following best describes an ACH transfer of funds between two
seperate banking institutions? - accurate answers-Both accounts are not
verified and funds may take several days to be available.
For offices with a no cash policy, which type of payments is typically
recommended for patients without a bank account? - accurate answers-Money
order
Which of the following is required for a check endorsement? - accurate
answers-All of the above; Ink pen or rubber stamp, On the back of the check,
Across the left or perforated end
