Question 1

When an account is opened at a bank, the depositor will be required to complete a __________ card.

Accepted Answer

signature
Signature cards allow the bank to compare signatures when negotiable instruments arrive at the bank for processing.

Question 2

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 3

The person who writes the check is called the drawee.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Blank endorsements make checks payable to the bearer.

Accepted Answer

A) True 
 B)False

Question 6

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 7

The deposit is $5,192. The checkbook balance is $10,432. What is the balance after the deposit is made?

Accepted Answer

The answer of The deposit is $5,192. The checkbook balance...

Question 8

An insured account requiring a minimum balance that draws interest at a higher percentage than a regular savings account is called a __________ account.

Accepted Answer

A)   money market savings
B)   individual retirement
C)   checking
D)   business savingsE) A) and B)
F) C) and D)

Question 9

The currency taken in during the day includes 9 $20s, 2 $50s, 4 $100s, 6 $10s, and 17 $5s. What is the total currency?

Accepted Answer

$825

Question 10

The petty cash till has 52 quarters, 43 dimes, 19 nickels, and 24 pennies. What is the total amount of change in the till?

Accepted Answer

The answer of The petty cash till has 52 quarters,...

Question 11

For individuals to be __________, a personal background investigation normally is necessary.

Accepted Answer

bonded
Background ch...

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...

Question 13

A signature on the back of a check whereby the rights of the check are transferred to another party is called a(n) __________.

Accepted Answer

endorsement
The endorsement is...

Question 14

Any individual, corporation, or legal party who signs a check or any type of negotiable instrument is considered the

Accepted Answer

A)   maker.
B)   payer.
C)   drawer.
D)   payee.E) All of the above
F) None of the above

Question 15

Most patients who write checks to pay their account with their physician have no intention of fraud.

Accepted Answer

A) True 
 B)False

Question 16

Checks received in the mail today include those for $23.03, $87, and $830. Checks taken in the office from patients include those for $25, $55, $30, and $255. What is the total in checks that will be included in the day's deposit?

Accepted Answer

The answer of Checks received in the mail today include...

Question 17

The stamp "For deposit only" is a restrictive endorsement.

Accepted Answer

A) True 
 B)False

Question 18

The name of the last endorser of the check shows who last __________ the money.

Accepted Answer

received
The last en...

Question 19

What is required for a check to be negotiable?

Accepted Answer

A)   Be written and signed by the drawer
B)   Contain a promise or order to pay a sum of money
C)   Be payable on demand
D)   Both A and B
E)   All of the aboveF) A) and C)
G) A) and D)

Question 20

Many direct deposits are processed through which of the following?

Accepted Answer

A)   ACH
B)   NACHA
C)   EPN
D)   EFTE) B) and C)
F) C) and D) A

Exam 17: Banking Services and Procedures

When an account is opened at a bank, the depositor will be required to complete a __________ card.

Correct Answerverifiedsignature Signature cards allow the bank to compare signatures when negotiable instruments arrive at the bank for processing.

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

The person who writes the check is called the drawee.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Blank endorsements make checks payable to the bearer.

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

The deposit is $5,192. The checkbook balance is $10,432. What is the balance after the deposit is made?

Correct AnswerverifiedShow Answer

An insured account requiring a minimum balance that draws interest at a higher percentage than a regular savings account is called a __________ account.

Correct AnswerverifiedShow Answer

The currency taken in during the day includes 9 $20s, 2 $50s, 4 $100s, 6 $10s, and 17 $5s. What is the total currency?

Correct Answerverified$825

The petty cash till has 52 quarters, 43 dimes, 19 nickels, and 24 pennies. What is the total amount of change in the till?

Correct AnswerverifiedShow Answer

For individuals to be __________, a personal background investigation normally is necessary.

Correct AnswerverifiedbondedBackground ch...View AnswerShow 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

A signature on the back of a check whereby the rights of the check are transferred to another party is called a(n) __________.

Correct AnswerverifiedendorsementThe endorsement is...View AnswerShow Answer

Any individual, corporation, or legal party who signs a check or any type of negotiable instrument is considered the

Correct AnswerverifiedShow Answer

Most patients who write checks to pay their account with their physician have no intention of fraud.

Correct AnswerverifiedShow Answer

Checks received in the mail today include those for $23.03, $87, and $830. Checks taken in the office from patients include those for $25, $55, $30, and $255. What is the total in checks that will be included in the day's deposit?

Correct AnswerverifiedShow Answer

The stamp "For deposit only" is a restrictive endorsement.

Correct AnswerverifiedShow Answer

The name of the last endorser of the check shows who last __________ the money.

Correct AnswerverifiedreceivedThe last en...View AnswerShow Answer

What is required for a check to be negotiable?

Correct AnswerverifiedShow Answer

Many direct deposits are processed through which of the following?

Correct AnswerverifiedA

Correct Answer
verified
signature Signature cards allow the bank to compare signatures when negotiable instruments arrive at the bank for processing.

Correct Answer
verified
voucher
Voucher checks have de...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
principal
Principal is the cap...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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$825

Correct Answer
verified

Correct Answer
verified
bonded
Background ch...
View Answer

Correct Answer
verified

Correct Answer
verified
endorsement
The endorsement is...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
received
The last en...
View Answer

Correct Answer
verified

Correct Answer
verified
A