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SOFE SOFA-CFE Exam - Topic 8 Question 101 Discussion

Issuance of a duplicate or replacement check without voiding the original entry can result in paying a claim twice -- once to the claimant and again to:
C) escheat fund
A) deposited cash
B) service charges
D) aggregate write-ins

SOFE SOFA-CFE Exam - Topic 8 Question 101 Discussion

Actual exam question for SOFE's SOFA-CFE exam
Question #: 101
Topic #: 8
[All SOFA-CFE Questions]

Issuance of a duplicate or replacement check without voiding the original entry can result in paying a claim twice -- once to the claimant and again to:

Show Suggested Answer Hide Answer
Suggested Answer: C

by Roslyn at Sep 18, 2024, 12:17 PM

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Craig
7 months ago
I thought it only affected service charges, not claims.
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Sharika
8 months ago
It's true, always void the original before issuing a duplicate.
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Darrin
8 months ago
Wait, can you really pay twice like that? Sounds odd.
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Lili
8 months ago
Definitely agree, I've seen it happen before.
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Tori
8 months ago
This can lead to double payments, so be careful!
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Tom
9 months ago
I’m leaning towards "aggregate write-ins," but I’m not completely confident. I need to double-check my notes on this topic.
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Shawnta
9 months ago
I feel like the answer could be "deposited cash," but I can't quite recall the details on why that would be the case.
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Raul
9 months ago
I remember practicing a similar question about duplicate checks, and I think it had to do with service charges.
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Bette
9 months ago
I think the answer might be related to the claimant getting paid twice, but I'm not sure if it's the escheat fund or something else.
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Kaitlyn
9 months ago
Ugh, I'm really struggling with this question. The options don't seem to clearly match the issue being described. I'll have to guess and hope for the best.
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Verona
9 months ago
Okay, I've got this. The key is to identify who would end up getting paid twice if the original check wasn't voided. I'm pretty confident I can figure out the right answer.
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Carline
9 months ago
Hmm, I'm a bit unsure about this one. I need to make sure I understand the implications of not voiding the original check. Let me think this through step-by-step.
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Mariann
9 months ago
This seems like a straightforward question about the consequences of issuing a duplicate check. I'll carefully read through the options and think about the potential outcomes.
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Janae
1 year ago
This question is like a magic trick - the answer is hidden in plain sight, but you have to really focus to see it.
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Lelia
1 year ago
D) aggregate write-ins
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Dulce
1 year ago
C) escheat fund
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Franklyn
1 year ago
A) deposited cash
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Burma
1 year ago
A) deposited cash? Seriously? That's just throwing good money after bad. I'm going with C, no doubt about it.
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Erin
1 year ago
Definitely, it's important to avoid paying a claim twice by being careful with check issuance.
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Shayne
1 year ago
Yeah, issuing a duplicate check without voiding the original can cause a lot of problems.
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Micah
1 year ago
I agree, C is the correct answer. It goes to the escheat fund.
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Vivienne
1 year ago
D) aggregate write-ins? Sounds like an accounting term, but I'm not convinced that's the right answer here.
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Tomoko
1 year ago
D) aggregate write-ins? Sounds like an accounting term, but I'm not convinced that's the right answer here.
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Clay
1 year ago
C) escheat fund
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Myra
1 year ago
A) deposited cash
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Veronika
1 year ago
I'm going with C) escheat fund. Feels like the most logical option to me, but I'll double-check just to be sure.
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Isreal
1 year ago
Let's make sure to verify the correct answer before finalizing our choice.
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Hildegarde
1 year ago
I'm leaning towards C) escheat fund as well.
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Maia
1 year ago
I agree, it makes sense to double-check just to be sure.
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Luisa
1 year ago
I think C) escheat fund is the correct answer.
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Keneth
1 year ago
Paying a claim twice? That's like getting a refund for the same item twice - it's a recipe for financial disaster!
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Luz
1 year ago
C) escheat fund
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Leslie
1 year ago
A) deposited cash
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Johnetta
1 year ago
I'm not sure, but I think it could also be D) aggregate write-ins because it involves recording multiple items together.
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Ahmed
1 year ago
I agree with Rex, because escheat fund is where unclaimed property goes.
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Rex
1 year ago
I think the answer is C) escheat fund.
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