AFP
CTP · Question #401
(Topic 5) The role of the depository bank in the check-clearing process is typically which of the following?
The correct answer is B. To encode the check amount on the MICR line. See the full explanation below for the reasoning.
Question
- (Topic 5)
The role of the depository bank in the check-clearing process is typically which of the following?
Options
- ATo inspect the check for proper signature
- BTo encode the check amount on the MICR line
- CTo place a hold on the check until cleared
- DTo ensure that the check is not stale-dated
How the community answered
(24 responses)- A4% (1)
- B79% (19)
- C4% (1)
- D13% (3)
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