AFP
CTP · Question #401
CTP Question #401: Real Exam Question with Answer & Explanation
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
Community Discussion
No community discussion yet for this question.