True or False. Monthly balance is calculated based on the monthly premium and other factors such as the LEP and Low Income Subsidy Status.
True
100
True or False, Payment reversal is a sub process under Payment adjustment.
True
100
Who sang the famous song My Way?
Frank Sinatra
100
report is used to identify payments received by the bank that have not yet been applied to a member account or do not have a matching invoice.
Unapplied Payment Report
100
True or False. When a payment is made, it is always applied to the oldest open invoice first.
True
200
Where do we change payment preference options?
Member Details
200
Who is the 5th President of the Republic of the Philippines?
President Manuel Roxas
200
a process performed to ensure an erroneous payment is reapplied/reallocated to the correct member.
Payment Reallocation
200
What are the two types of LIS members?
Fully Subsidized
Partially Subsidized
200
MICR stands for ________________
Magnetic Ink Character Reader
300
What is the oldest University in Asia?
University of Santo Tomas (est. July 24, 1605)
300
What report does ikasystems generate to inform us that a member under ACH has an NSF notice?
Negative payment Report
300
True or False. Credit Adjustment is made to invoice paid in error thus the word credit.
False - It's Debit Adjustment
300
True or False, . If a payment is greater than the invoice amount, it will be credited and applied to future invoices. If a payment is less than the invoice amount, the balance will be reflected in the balance column of the invoice after processing the payment
True
300
Defined as the system will pick amounts from the accounts, and will be applied to the member partially paid/not paid invoices.
Auto posting
400
Payment preference may change due to two reasons, give one.
• Member request changes to Direct Bill, Social Security Administration/ Railroad Retiree Board, or Automatic deduction from the individual’s bank or other financial institution
• Involuntary change to Direct Bill due to insufficient funds (NSF) on existing Social Security Administration/ Railroad Retiree Board, or individual’s bank account
400
What payment detail should we choose for NSF notice sent by the bank due to a member's NSF check?
NSF (Non-Sufficient Funds)
400
True or False, Credit Adjustment increases invoice balance while Debit adjustment is the opposite.