Sharepoint Scavenger Hunt - 1

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| By Awebb03
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Awebb03
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Quizzes Created: 1 | Total Attempts: 154
| Attempts: 154
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  • 1/10 Questions

    What is the minimum dollar amount to open a certificate (CD) on an adult account?

    • $50
    • $250
    • $500
    • There is no minimum
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About This Quiz

All of the answers to these questions can be found in documents on SharePoint.

Sharepoint Scavenger Hunt - 1 - Quiz

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  • 2. 

    Which of the following is not an included transaction that requires a CTR when in excess of $10,000?

    • Cash Withdraws

    • Cash Deposits

    • Share-to-share transfers

    • Purchasing an official check with cash

    Correct Answer
    A. Share-to-share transfers
    Explanation
    Financial institutions must report any cash transaction or combination of transactions which exceed(s) $10,000 in one business day. Transactions may include:

    • Deposits
    • Withdrawals
    • Payments
    • Currency Exchanges
    • Wire Transfers
    • Monetary Instrument Purchases (e.g., official checks, money orders, gift cards, etc.)

    This information can be found in Operations >Training Documents & Procedures > Regulatory Information > Bank Secrecy

    Rate this question:

  • 3. 

    True or False: a recent ChexSystems report is required when ordering a member's first Debit AND/OR ATM card.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    We need to have a recent ChexSystems report on file to make sure there isn't any outstanding issues with other financial institutions before we order any cards. This is also true of ATM cards because it is still possible for members to deposit bad checks or to be guilty of check kiting.
    This can be found in Operations > Plastics Resource Center > Plastics Procedures > CARD ORDERING MATRIX.

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  • 4. 

    What is the primary difference between regular and secured credit cards?

    • The minimum payment is greater on the secured card.

    • The member has to lock funds in a savings or money market account at the time of opening.

    • The secured card cannot be used as over draft protection.

    Correct Answer
    A. The member has to lock funds in a savings or money market account at the time of opening.
    Explanation
    The secured cards must be secured by funds in the member's savings or money market account. Funds are not available while the credit card is open.

    This can be found in Operations > Training Documents & Procedures > CME Product Guide

    Rate this question:

  • 5. 

    True or false: A POA can still obtain account information after the primary member has died.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    A POA ceases upon the death of the Member who has granted authority to act on his/her behalf. In other words, it becomes null and void following the death of the grantor. A POA is no longer permitted to transact business on the membership or obtain account information.

    This can be found under Operations > Training Documents & Procedures > Power of Attorney (POA)

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  • 6. 

    Fill in the blank:Financial institutions must be able to provide a record of aggregate cash sales of official checks, money orders, traveler’s checks, and gift cards totaling between $3,000 and $10,000. This would be recorded on the __________ Log

    Correct Answer
    Monetary Instrument
    Explanation
    This can be found in Operations > Training Documents & Procedures > Regulatory Information > Bank Secrecy.

    Rate this question:

  • 7. 

    When someone is presenting a government check (examples: treasury checks, tax refunds), which of the following is NOT true?

    • They can be signed over as long as both people are present with an ID.

    • They can be accepted with no hold (as long as they seem legitimate).

    • They cannot be cashed by non-members.

    Correct Answer
    A. They can be signed over as long as both people are present with an ID.
    Explanation
    This can be found under Operations > Training Documents & Procedures > Check Hold Guidelines
    & Operations > Training Documents & Procedures > Check Cashing

    Rate this question:

  • 8. 

    Check the boxes for all of the TRUE statements about our counterfeit bill procedures:

    • The bill must be sent to the Secret Service the day you receive it.

    • If the member insists, you should give the bill back.

    • The bill should be signed on the border by the member and teller receiving it.

    • You should give the member credit for the bill.

    • You must fill out a Counterfeit Note Report that records the details of the bill and any details of where the member got it from.

    Correct Answer(s)
    A. The bill must be sent to the Secret Service the day you receive it.
    A. The bill should be signed on the border by the member and teller receiving it.
    A. You must fill out a Counterfeit Note Report that records the details of the bill and any details of where the member got it from.
    Explanation
    This can be found in Operations >Training Documents & Procedures > Cash Handling.

    Rate this question:

  • 9. 

    Check any of the following that are "special situation" exceptions to Reg CC check holding guidelines.

    • Re-deposited Checks

    • Repeatedly Overdrawn Accounts

    • New Accounts

    • Large Dollar Amounts

    • Reasonable Cause to Doubt Collectability

    • Emergency Contitions

    Correct Answer(s)
    A. Re-deposited Checks
    A. Repeatedly Overdrawn Accounts
    A. New Accounts
    A. Large Dollar Amounts
    A. Reasonable Cause to Doubt Collectability
    A. Emergency Contitions
    Explanation
    Trick question! All of the above!

    This can be found under Operations > Training Documents & Procedures > Regulatory Information

    Rate this question:

Quiz Review Timeline (Updated): Mar 21, 2023 +

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  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Sep 19, 2015
    Quiz Created by
    Awebb03
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