A Company Stamps Checks Received in the Mail with the Words

question 37

Multiple Choice

A company stamps checks received in the mail with the words "For Deposit Only".This endorsement is called a(n)

• A)blank endorsement.
• B)rubber stamp.
• C)restrictive endorsement.
• D)operational endorsement.

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Definitions:

Truth in Lending Act

A U.S. federal law designed to promote informed use of consumer credit by requiring disclosures about its terms and cost.

Discretion

The quality of behaving or speaking in such a way as to avoid causing offense or revealing confidential information.

Certified Check

A payer’s check written and signed by the payer, which is stamped “certified” by the bank. The bank has already drawn money from the payer’s account to guarantee that the check will be paid.

Managed Care Organizations

Health organizations that provide medical care directly to the insured person with the aim to improve healthcare services while controlling costs.