Of the Following, Which Would Be Included on a Remittance

question 23

Multiple Choice

Of the following, which would be included on a remittance advice or explanation of benefits?

• A) total charges for a patient's account
• B) subscriber's address
• C) effective date of insurance
• D) employer's information

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Definitions:

Required Reserve Ratio

The percentage of deposits that banks are legally required to keep on hand as reserves, not loaned out.

Excess Reserves

Excess reserves are the capital reserves held by banks beyond the required minimum, often placed with central banks, earning interest.

Money Supply

The total amount of monetary assets available in an economy at a specific time, which includes cash, coins, and balances held in checking and savings accounts.

Time Deposits

Time deposits are bank deposits with a fixed term or maturity date, where the depositor agrees not to withdraw the funds until that date, typically earning a higher rate of interest.