Account Basics Review 2024

Question 1

In order to close an account for a customer:

Accepted Answer

go through the Deposit Closeout Wizard

Question 2

If a cust chooses not to participate in the standard OD w/ ea per checking acct, there is no need to discuss Reg E

Accepted Answer

True

Question 3

WHEN ENTERING CUSTOMER INFO IN THE NDAW:

Accepted Answer

ASK IF THE CUSTOMER HAS A PREFERRED OR NICKNAME, DO NOT USE A MIXTURE OF UPPER AND LOWER CASE LETTERS, DO NOT USE PUNCTUATION SUCH AS ', . " #, IF SCANNING ANY ID OTHER THAN UNEXPIRED LIC MAKE SURE THE DOC TYP IS CORR, DO NO ABBREVIATE

Question 4

An IRA can be used to _____(Choose best answer)

Accepted Answer

individual investments similar to the way you choose investments for 401K, Save for or manage your money for retirement, Allow you to make tax deferred investment to provide financial security

Question 5

In AM if activities are coming due with a deadline for completing an escalation status of 1 - 4 with 1 being critical

Accepted Answer

True

Question 6

When using Card@Once the customer does not have to be present.

Accepted Answer

False

Question 7

Electronic Fund Transfer means any transfer of funds that is initiated through a/an: (choose best answer)

Accepted Answer

Electronic Terminal, Computer, Telephone/VRU System

Question 8

FDIC insures deposits in banks for at least...

Accepted Answer

250,000

Question 9

When in ONLINE Print the following applies..

Accepted Answer

Associates are not allowed to print blank forms or mult copies of forms, Cancel can be used if the wrong form is selected for process, The Print Queue Button should automatically default, When processing forms do not click SKIP

Question 10

It does not matter if the customer doesn't provide a physical address, we just want to recruit customers.

Accepted Answer

False

Question 11

Reg V requires abbrev of account #'s on receipts created at merchant locations to help prevent & mitigate identity theft

Accepted Answer

True

Question 12

The following statements apply to External ACH stop payments. A stop can be placed:

Accepted Answer

For all debits/credits for a particular source, On a Business Account the stop applies for 180 days, And remain on the account indefinitely or until removed by the customer, On a single amount for a particular source

Question 13

This type of checking requires at least one customer to over the age of 50 and provides free checks.

Accepted Answer

50+ Checking

Question 14

When opening an account for an existing customer in the NDAW:

Accepted Answer

RESET THE VALIDATION DATE TO 'TODAY', ALWAYS REVIEW ALL DEMOGRAPHIC INFORMATION, RUN OFAC

Question 15

The associate that opens a Safe Deposit Box for a customer, does not need to sign anything on the Lease Agreement.

Accepted Answer

True

Question 16

A depository institution shall provide acct disclosures to a consumer before or when an acct is opened or serv provided

Accepted Answer

Reg DD

Question 17

When setting up an alternate address you will?

Accepted Answer

Always indicate the address description (Post office box), Never use the Seasonal Address, Never use Alternate 1-25, Add the Tax Information Address

Question 18

The operating system which serves as an electronic storage and search engine for CBT customer documents and images...

Accepted Answer

Nautilus

Question 19

A CD can't be changed using the MINOR change screen. An assoc must wait until the CD has matured and proc on Renewals

Accepted Answer

True

Question 20

On a Joint account, if the owner designates only half the funds be paid upon death to the survivor this is called?

Accepted Answer

Joint w/out Survivorship

Question 21

Which of the following can be set up when opening a new account in NDAW

Accepted Answer

Tickler, Account Title, Draw, Mail Override, Account description

Question 22

When opening an account for a new customer, IDV and OFAC will be completed.

Accepted Answer

True

Question 23

When setting up a combined statement:

Accepted Answer

choose primary as the checking 1st, if available, Never combine two checking accounts, Always created on the TRO- tax reported owner

Question 24

The Mail Override screen can be used to do which of the following?

Accepted Answer

Select the Account Title, Select the Acct descrip to be included in the mailing address for the acct, Select an address (from TRO) for account mail to be sent

Question 25

In the CIP process, it is acceptable to scan the following: Military ID, Credit Cards, and Expired State ID Cards.

Accepted Answer

False

Question 26

Activity related Docs from Dep Ops, once corrected do not send to Nautilus, attach to activity response to Dep Ops.

Accepted Answer

True

Question 27

In order for an Acct Title to carry over to forms, the Title must be created prior to generating forms & the assoc must

Accepted Answer

Create the Title on the Basics Screen, Complete a mail override adding the title on ea account, Reference the Acct Roles and Ownership Reference Guide for correct setup

Question 28

When Running OFAC outside the wizard on an Existing Customer, where do you navigate to?

Accepted Answer

VERIFICATION TAB

Question 29

Stop payments can be placed against both ACH debits and credits in DNA.

Accepted Answer

True

Question 30

Qualifile should be ran on new/existing cust if opening a transacting acct such as a personal checking or savings .

Accepted Answer

True

Account Basics Review 2024

Questions 30

Account Basics Review 2024

Questions 30