Product Knowledge Quiz - June 2014
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What website should the members visit to redeem Rewards Points?
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CURewardsMall.com
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CURewards.com
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CURewards.org
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ALEC.CURewards.com
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Here is the June Product Knowledge Quiz. Please complete by June 16, 2014.
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- 2.
Nail down a great rate with an ALEC Home Equity Line of Credit. Fixed Rate of 1.99% for _____ months
Explanation
The correct answer is "12, twelve". This means that the fixed rate of 1.99% will be applicable for a duration of 12 months or one year. This offer allows individuals to secure a low interest rate for their home equity line of credit for a specific period of time before it may change.Rate this question:
- 3.
Congrats came from Bruce regarding our last campaign. We validated how many memberships during the Spring Clean Up Campaign?
Explanation
Bruce congratulated the team on the success of their last campaign. The question asks about the number of memberships that were validated during the Spring Clean Up Campaign. The correct answer is 4,756 or 4756.Rate this question:
- 4.
Our newest campaign will do what?
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Add Email address to member accounts
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Add official Passwords to member accounts
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Verify POD on member accounts
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Verify drivers licenses on member accounts
Correct Answer
A. Add official Passwords to member accountsExplanation
The newest campaign aims to add official passwords to member accounts. This suggests that the campaign is focused on enhancing the security of member accounts by implementing a standardized and secure password system. By adding official passwords, the organization can ensure that only authorized individuals can access the member accounts, reducing the risk of unauthorized access and potential data breaches.Rate this question:
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- 5.
Car Quotes has been replaced by what new online service?
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Car Quotes Pro
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CUNA Car Buying Made Easy
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TrueCar
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Cars.com
Correct Answer
A. TrueCarExplanation
TrueCar is the new online service that has replaced Car Quotes. TrueCar is a platform that provides transparent pricing information and allows users to compare prices from different dealerships. It aims to simplify the car buying process by providing accurate and up-to-date pricing information, making it easier for consumers to make informed decisions when purchasing a car.Rate this question:
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- 6.
True/False - Members who open a new Rewards Visa receive 1.95% on purchases during the first six months the account is opened.
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True
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False
Correct Answer
A. TrueExplanation
Members who open a new Rewards Visa receive 1.95% on purchases during the first six months the account is opened. This means that for the first six months after opening the account, members will receive a cashback or rewards rate of 1.95% on all their purchases made using the Rewards Visa.Rate this question:
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- 7.
You were just chosen as the recipient for this quarters Focus Award. What will you receive as a result? Check all that apply.
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Framed Certificate
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Acrylic Award
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Name Displayed in Trophy Case
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Picture on our Media Boards
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PTO Day
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$500.00 deposited into your account
Correct Answer(s)
A. Framed Certificate
A. Acrylic Award
A. Name Displayed in Trophy Case
A. Picture on our Media Boards
A. PTO Day
A. $500.00 deposited into your accountExplanation
As the recipient of the Focus Award, you will receive a framed certificate to commemorate your achievement. You will also receive an acrylic award as a physical representation of the award. Your name will be displayed in the trophy case to highlight your accomplishment. Additionally, your picture will be displayed on the media boards to further recognize your achievement. As a bonus, you will be granted a PTO day to enjoy some time off. Finally, you will receive a deposit of $500.00 into your account as a monetary reward for your outstanding performance.Rate this question:
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- 8.
Last August, this employee posted a delicious recipe for Perfect Cheesecake. Who was it? Don't forget to post your favorite recipes for all to share!
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Joe Trosclair
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Addam Painter
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Christa Mendoza
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Donna Gile
Correct Answer
A. Christa MendozaExplanation
Christa Mendoza is the correct answer because she is the employee who posted a delicious recipe for Perfect Cheesecake last August.Rate this question:
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- 9.
What is the dollar limit for Domestic Wires in Wire Exhange for Service Center Staff?
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$250,000
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$1,000,000
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$300,000
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No limit exists
Correct Answer
A. $250,000Explanation
The dollar limit for Domestic Wires in Wire Exchange for Service Center Staff is $250,000.Rate this question:
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- 10.
True/False - ALEC charges $25.00 for incoming wires. $55.00 for incoming international wires.
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True
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False
Correct Answer
A. FalseExplanation
We do not charge for incoming wires.Rate this question:
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- 11.
With our new TrueCar Services, members see an average savings of how much off the MSRP?
Correct Answer
3078
3,078
$3,078
$3078
3,078.00
3078.00
3078.
$3078.00
$3,078. - 12.
What is the number to text to for Text Banking?
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87431
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37413
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8675309
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81373
Correct Answer
A. 87431Explanation
The correct answer is 87431. This is the number to text for Text Banking.Rate this question:
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- 13.
True or False - We offer this service: You can set up alerts to notify you when select activity occurs on your accounts. For example, ALEC can send you an alert when your account balance goes below a predetermined threshold amount, such as $50. You can receive alerts on your mobile phone or sent to an e-mail address.
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True
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False
Correct Answer
A. TrueExplanation
Its called Account AlertsRate this question:
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- 14.
True/False When a member signs up for e-statements, they are able to view their current or previous statements right away?
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True
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False
Correct Answer
A. FalseExplanation
It starts with that month and goes forward. they will not have access to previous statements.Rate this question:
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- 15.
When processing HomeQ payments, what screen should you look at before submitting the payment?
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SmartALEC
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Google
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Interest Tab - Payment Entry Detail (Remaining amount owed)
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Payment Tab - Payment Entry Detail (FCCBNC)
Correct Answer
A. Interest Tab - Payment Entry Detail (Remaining amount owed)Explanation
Before submitting the payment for HomeQ, you should look at the Interest Tab - Payment Entry Detail (Remaining amount owed). This tab provides information about the remaining amount that is owed for the payment. By reviewing this tab, you can ensure that the correct amount is being submitted for the payment.Rate this question:
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- 16.
If a member is late on their HQ payment and they still owe from the previous month how should this payment be processed?
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Apply all to interest
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Apply interest owed from previous month, remainder to new month’s interest
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Apply all to principle
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Apply interest owed from previous month, remainder to Principle
Correct Answer
A. Apply interest owed from previous month, remainder to new month’s interestExplanation
The correct answer is to apply the interest owed from the previous month and then use the remainder to pay the new month's interest. This means that the member's outstanding interest from the previous month is prioritized and paid off first, and any remaining amount is then used to cover the interest for the current month. This ensures that the member's overdue payment is addressed while also accounting for the current month's interest.Rate this question:
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- 17.
How should a HomeQ payment be applied when a member mails in more than one payment in the same month, and their interest has already been satisfied?
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Apply to interest for the next month
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Make normal payment without selecting interest/ principle box?
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Verify with member if payment is meant to be a principle only payment
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Apply all to principle
Correct Answer
A. Apply all to principleExplanation
When a member mails in more than one payment in the same month and their interest has already been satisfied, the best course of action is to apply all the additional payments to the principle. This means that the extra payments will go towards reducing the overall loan balance rather than being allocated towards future interest payments. By applying all the additional payments to the principle, the member will be able to pay off their loan faster and save on interest charges in the long run.Rate this question:
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- 18.
The standard fee to make a deposit at a shared branch is how much?
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$1.00
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$1.50
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$2.00
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No Fee to make a deposit
Correct Answer
A. No Fee to make a depositExplanation
The correct answer is "No Fee to make a deposit." This means that there is no charge or cost associated with making a deposit at a shared branch.Rate this question:
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Current Version
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Mar 06, 2024Quiz Edited by
ProProfs Editorial Team -
May 21, 2014Quiz Created by
Bruce Van
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