# Product Knowledge Quiz - July 2014

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| By Bruce Van
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Bruce Van
Community Contributor
Quizzes Created: 5 | Total Attempts: 472
Questions: 19 | Attempts: 106

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• 1.

### What group of numbers should you use to create or to reset an audio pin?

• A.

Last four of home number

• B.

Make up four numbers (unique)

• C.

Last four of mbr SSN

• D.

1234

B. Make up four numbers (unique)
Explanation
To create or reset an audio pin, you should use a group of four numbers that are unique and not associated with any other account or personal information. Using the last four digits of a home number or the last four digits of an SSN (Social Security Number) can potentially compromise the security of the audio pin. Therefore, it is recommended to make up four numbers that are not easily guessable or linked to any personal information.

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• 2.

### For Online Banking, what should the temporary security code be reset to?

• A.

Unique code is created by employee

• B.

Alec1234

• C.

Ask the member what they would like to use

• D.

Enter the code previously used

A. Unique code is created by employee
Explanation
The correct answer is that a unique code is created by an employee. This means that when resetting the temporary security code for online banking, an employee will generate a new and unique code for the user. This ensures that the code is secure and not easily guessable by others.

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• 3.

### What is the fee for a member to request a "verification of deposit" letter?

• A.

\$10

• B.

\$0

• C.

\$5

• D.

\$26

A. \$10
Explanation
The fee for a member to request a "verification of deposit" letter is \$10.

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• 4.

### List all services that are deactivated when Online Banking is turned off?

• A.

Mobile Banking

• B.

E-statements

• C.

Bill Pay

• D.

Debit card

A. Mobile Banking
B. E-statements
C. Bill Pay
Explanation
When Online Banking is turned off, the services that are deactivated include Mobile Banking, E-statements, and Bill Pay. Deactivating Online Banking means that these services will no longer be accessible or available to the user. However, the deactivation of Online Banking does not affect the functionality or availability of the Debit card.

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• 5.

### The minimum withdrawal from a Money Market is \$100.00?

• A.

True

• B.

False

A. True
Explanation
The statement is stating that the minimum withdrawal from a Money Market is \$100.00. This means that the lowest amount of money that can be taken out from a Money Market account is \$100.00. Therefore, the correct answer is True.

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• 6.

### What is the cost to place a stop payment on a check sent through Bill Pay?

• A.

\$26

• B.

\$0

• C.

\$24

• D.

\$21

A. \$26
Explanation
The cost to place a stop payment on a check sent through Bill Pay is \$26. This fee is charged by the bank to cancel the payment and prevent it from being processed. It is important to note that this fee may vary depending on the bank or financial institution.

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• 7.

### When an incoming call is not answered by The Call Center Auto loan MSR's, the call is transferred to LSI?

• A.

True

• B.

False

A. True
Explanation
When an incoming call is not answered by The Call Center Auto loan MSR's, the call is transferred to LSI. This implies that LSI is responsible for handling calls that are not answered by the Auto loan MSR's. Therefore, the statement "True" indicates that the call is indeed transferred to LSI in such cases.

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• 8.

### You can set up internal automatic transfers from an IRA certificate/IRA share account to be deposited into a members regular share or checking account?

• A.

True

• B.

False

B. False
Explanation
Internal automatic transfers cannot be set up from an IRA certificate/IRA share account to be deposited into a member's regular share or checking account. IRA accounts have specific rules and restrictions regarding withdrawals and transfers, and transferring funds from an IRA to a regular share or checking account would likely violate these rules. Therefore, the correct answer is False.

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• 9.

### The Call Center works every Saturday in the event of what types of emergencies?

• A.

Increase in Debit Card limits

• B.

Debit Cards being blocked

• C.

Assist the tellers

• D.

Assist the MSR's

A. Increase in Debit Card limits
B. Debit Cards being blocked
Explanation
The Call Center works every Saturday in the event of emergencies related to an increase in debit card limits and debit cards being blocked. This means that if customers face issues with their debit cards such as their cards being blocked or needing to increase their card limits, they can contact the Call Center for assistance on Saturdays. The Call Center is specifically available to address these types of emergencies on Saturdays.

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• 10.

### How would you request to reactivate or to reset online banking passwords for our members?

• A.

Tell the member to call ALEC

• B.

Send open ticket to Operations

• C.

Call the Call Center

C. Call the Call Center
Explanation
The correct answer is to call the Call Center. This is the most direct and efficient method for members to request the reactivation or reset of their online banking passwords. Calling the Call Center allows members to speak directly with a representative who can assist them in a timely manner and provide any necessary guidance or instructions.

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• 11.

### Early penalty fees for redeeming IRA certificates generally follow the same rules as regular certificates do?

• A.

True

• B.

False

A. True
Explanation
Early penalty fees for redeeming IRA certificates generally follow the same rules as regular certificates do. This means that if you redeem an IRA certificate before its maturity date, you may be subject to a penalty fee. The specific rules and fees may vary depending on the financial institution and the terms of the certificate, but in general, early redemption of IRA certificates will incur penalties similar to regular certificates.

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• 12.

### We should never refer to our external Call Center as a foreign entity?

• A.

True

• B.

False

A. True
Explanation
Referring to our external Call Center as a foreign entity implies a sense of separation or disconnection, which can negatively impact teamwork and collaboration. It is important to foster a sense of unity and inclusivity within the organization, regardless of where the Call Center is located. Using the term "foreign entity" may create a perception of us versus them, leading to a lack of cooperation and communication. Therefore, it is advisable to avoid using such terminology and instead promote a cohesive and integrated approach.

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• 13.

### \$25 Inactive membership fee occur after 24 months of no activity and are assessed on a quarterly basis?

• A.

True

• B.

False

A. True
Explanation
Inactive membership fees are charged after 24 months of no activity and are assessed on a quarterly basis. This means that if a member does not engage in any activity for 24 months, they will be charged a fee, and this fee will be charged every three months thereafter until the member becomes active again. Therefore, the statement "True" is correct as it accurately describes the occurrence and frequency of inactive membership fees.

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• 14.

### How many Regulation D electronic transfers are allowed monthly from a savings account?

• A.

6

• B.

7

• C.

10

• D.

Unlimited

A. 6
Explanation
Regulation D is a federal regulation that limits the number of certain types of withdrawals or transfers from savings accounts to a maximum of six per month. Therefore, the correct answer is 6, as it adheres to the regulation.

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• 15.

### Which "symbol icon" in Portico reflects that a member already has an audio pin set up?

• A.

Telephone Icon

• B.

House Icon

• C.

• D.

People Icon

A. Telephone Icon
Explanation
The telephone icon in Portico reflects that a member already has an audio pin set up. This is because the telephone icon is commonly associated with making phone calls, and having an audio pin set up implies that the member is able to participate in audio conversations or conference calls.

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• 16.

### All tattoos must be covered while at work no matter the size or placement?

• A.

True

• B.

False

A. True
Explanation
It is necessary to cover all tattoos while at work, regardless of their size or placement. This is likely due to workplace policies or professional standards that prioritize a more conservative appearance. By covering tattoos, employees can maintain a professional image and avoid potential distractions or conflicts with clients or colleagues.

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• 17.

### At account opening - MSR's are required to add and communicate the audio pin to the member?

• A.

True

• B.

False

A. True
Explanation
At account opening, MSR's (Member Service Representatives) are required to add and communicate the audio pin to the member. This means that when a member opens an account, the MSR is responsible for creating and providing an audio pin to the member. This pin is likely used for authentication purposes when the member interacts with the account over the phone or through other audio-based channels. Therefore, the statement "True" indicates that it is indeed required for MSR's to add and communicate the audio pin to the member at account opening.

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• 18.

### If a member calls ALEC to apply for an Auto Loan, who is most likely to answer their call?

• A.

Denise or Dan

• B.

Call Center staff

• C.

Ap22 Service Center

• D.

AP30 Service Center

A. Denise or Dan
Explanation
Denise or Dan are most likely to answer the member's call if they are calling ALEC to apply for an Auto Loan. This suggests that Denise and Dan are specifically assigned to handle calls related to auto loans, indicating their expertise in this area. The other options, Call Center staff, Ap22 Service Center, and AP30 Service Center, do not provide any indication of their role or responsibility in answering auto loan calls.

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• 19.

### If a member requests for an audio pin to enroll for online banking, you should always call the Call Center to assure the member doesn't have an online profile that was deactivated?

• A.

True

• B.

False

A. True
Explanation
The correct answer is true because calling the Call Center is necessary to verify if the member does not have an online profile that was deactivated. This step ensures that the member's request for an audio pin is legitimate and prevents any potential issues or security breaches. It is important to confirm the member's status before proceeding with the enrollment process.

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• Current Version
• Mar 06, 2024
Quiz Edited by
ProProfs Editorial Team
• Jun 06, 2014
Quiz Created by
Bruce Van

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