Question 1

The part of the accounting process that consists of the systematic recording of business transactions is ____.

Accepted Answer

A)   reconciliation
B)   vouching
C)   endorsement
D)   bookkeeping
E)   journalizingF) A) and E)
G) B) and D)

Question 2

An overpayment on a patient's account results in a negative number, or ________ balance.

Accepted Answer

The answer of An overpayment on a patient's account results...

Question 3

A person who is in town on vacation goes to a medical provider with symptoms of food poisoning. The type of account to set up for this patient is a(n)  ____.

Accepted Answer

A)   open-book account
B)   single-entry account
C)   account payable
D)   written-contract account
E)   collection accountF) A) and B)
G) B) and E)

Question 4

In order to be considered ________, or legally transferable from one person to another, a check has to be written and signed by the payer and include the amount of money to be paid.

Accepted Answer

The answer of In order to be considered ________, or...

Question 5

Large practices often use a(n) ________ billing service for both their insurance and patient billing procedures.

Accepted Answer

The answer of Large practices often use a(n) ________ billing...

Question 6

The ________ system allows you to write each transaction once while recording it on four different accounting forms.

Accepted Answer

pegboard w...

Question 7

A(n) ________ account uses the last date of payment or charge for each illness as the starting date for determining the time limit on that specific debt.

Accepted Answer

The answer of A(n) ________ account uses the last date...

Question 8

A standard personal or business check that the bank verifies and then sets aside the funds to guarantee payment is which type of check?

Accepted Answer

A)   Traveler's
B)   Voucher
C)   Limited
D)   Certified
E)   CounterF) B) and D)
G) A) and E)

Question 9

A collection letter containing stronger wording that asks the patient to specify when the amount will be paid and to contact the office to make payment arrangements may be sent when an account is ____ days past due.

Accepted Answer

A)   15
B)   30
C)   60
D)   90
E)   120F) B) and D)
G) None of the above

Question 10

Which of the following prevents creditors from discriminating against applicants on the basis of age, sex, race, religion, marital status, or income?

Accepted Answer

A)   Fair Debt Collection Practices Act
B)   Truth in Lending Act
C)   Equal Credit Opportunity Act
D)   Fair Credit Reporting Act
E)   Telephone Consumer Protection ActF) None of the above
G) A) and B)

Question 11

An accounts receivable policy ____.

Accepted Answer

A)   collects payments for a physician who has a large number of patients who do not pay their bills
B)   protects patients from being sued by the physician for failure to pay
C)   decreases the physician's overall cash flow
D)   ensures that the practice will have sufficient income to cover expected expenses
E)   ensures that patients will have sufficient funds to pay for servicesF) C) and E)
G) D) and E)

Question 12

When you place a patient's ledger card on the pegboard, how should you position the card?

Accepted Answer

A)   Align the ledger card's first blank line with the carbon strip under the next available superbill
B)   Align the top of the ledger card with the top of the daily log
C)   Align the bottom of the ledger card with the carbon strip under the next available superbill
D)   Align the top of the next available superbill with the top of the ledger card
E)   Align the right side of the ledger card with the right side of the superbillF) B) and D)
G) B) and C)

Question 13

Which type of check would state "Pay to the Order of Myself Only"?

Accepted Answer

A)   Traveler's
B)   Voucher
C)   Limited
D)   Certified
E)   CounterF) A) and B)
G) A) and C)

Question 14

Which of the following is a guideline for making a call requesting payment from a patient?

Accepted Answer

A)   Pose as a government official to convince the patient to pay
B)   Tell other people in the office about it and ask for suggestions
C)   Threaten to turn the account over to a collection agency, even if you do not plan to do so
D)   Call the patient after 8 a.m. or before 9 p.m.
E)   Refuse to talk to anyone except the patient, not even the patient's attorneyF) B) and C)
G) A) and B)

Question 15

Which of the following information about a patient should a medical assistant provide to the collection agency?

Accepted Answer

A)   Patient's income
B)   Date of the last payment or charge on the account
C)   Patient's educational level
D)   Impression of the patient's ability to pay
E)   Names of other physicians the patient has seenF) A) and B)
G) D) and E)

Question 16

A practitioner may use _______ checks when attending an out-of-town conference or whenever using a personal check or carrying a lot of cash is not appropriate.

Accepted Answer

The answer of A practitioner may use _______ checks when...

Question 17

A(n) ________ banking system speeds up many banking tasks by performing calculations automatically.

Accepted Answer

electronic...

Question 18

If practitioners allow patients to pay for services over time, they are extending ________ to the patient.

Accepted Answer

The answer of If practitioners allow patients to pay for...

Question 19

When is it appropriate for a medical provider to assess finance charges or late charges on past-due accounts?

Accepted Answer

A)   When the provider feels it is necessary
B)   After the patient has ignored two bills
C)   Only when the patient is notified in advance
D)   After the patient has verbalized a lack of intent to pay
E)   After the account has been sent to a collection agencyF) B) and E)
G) A) and E)

Question 20

A letter that has a friendly, "we want to help" tone and gives the patient options but makes it clear that the patient must take some sort of action, is most appropriately sent when the account is ____ days past due.

Accepted Answer

A)   15
B)   30
C)   60
D)   90
E)   120F) C) and D)
G) B) and D)

Exam 20: Patient Collections and Financial Management

Which of the following prevents creditors from discriminating against applicants on the basis of age, sex, race, religion, marital status, or income?

Correct AnswerverifiedShow Answer

When you place a patient's ledger card on the pegboard, how should you position the card?

Correct AnswerverifiedShow Answer

A letter that has a friendly, "we want to help" tone and gives the patient options but makes it clear that the patient must take some sort of action, is most appropriately sent when the account is ____ days past due.

Correct AnswerverifiedShow Answer

A standard personal or business check that the bank verifies and then sets aside the funds to guarantee payment is which type of check?

Correct AnswerverifiedShow Answer

The ________ system allows you to write each transaction once while recording it on four different accounting forms.

Correct Answerverifiedpegboard w...View AnswerShow Answer

A practitioner may use _______ checks when attending an out-of-town conference or whenever using a personal check or carrying a lot of cash is not appropriate.

Correct AnswerverifiedShow Answer

In order to be considered ________, or legally transferable from one person to another, a check has to be written and signed by the payer and include the amount of money to be paid.

Correct AnswerverifiedShow Answer

A(n) ________ account uses the last date of payment or charge for each illness as the starting date for determining the time limit on that specific debt.

Correct AnswerverifiedShow Answer

Which of the following information about a patient should a medical assistant provide to the collection agency?

Correct AnswerverifiedShow Answer

A person who is in town on vacation goes to a medical provider with symptoms of food poisoning. The type of account to set up for this patient is a(n) ____.

Correct AnswerverifiedShow Answer

The part of the accounting process that consists of the systematic recording of business transactions is ____.

Correct AnswerverifiedShow Answer

When is it appropriate for a medical provider to assess finance charges or late charges on past-due accounts?

Correct AnswerverifiedShow Answer

If practitioners allow patients to pay for services over time, they are extending ________ to the patient.

Correct AnswerverifiedShow Answer

A collection letter containing stronger wording that asks the patient to specify when the amount will be paid and to contact the office to make payment arrangements may be sent when an account is ____ days past due.

Correct AnswerverifiedShow Answer

A(n) ________ banking system speeds up many banking tasks by performing calculations automatically.

Correct Answerverifiedelectronic...View AnswerShow Answer

Which type of check would state "Pay to the Order of Myself Only"?

Correct AnswerverifiedShow Answer

Which of the following is a guideline for making a call requesting payment from a patient?

Correct AnswerverifiedShow Answer

An accounts receivable policy ____.

Correct AnswerverifiedShow Answer

An overpayment on a patient's account results in a negative number, or ________ balance.

Correct AnswerverifiedShow Answer

Large practices often use a(n) ________ billing service for both their insurance and patient billing procedures.

Correct AnswerverifiedShow Answer

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electronic...
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