Product Knowledge Quiz - January 2015

20 Questions | Total Attempts: 33

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Product Knowledge Quiz - January 2015

Please take a moment to complete the first quiz of the year. Much of the content is from training sessions, office meetings and emails from the last 30 days. Please complete the quiz by Friday January 30. Author of the Quiz : Scott P. Please let me know of any errors or omissions.


Questions and Answers
  • 1. 
    _______________________ is a limited form of insurance that pays out to the policy owner’s beneficiaries in the event the owner dies in an accident.
    • A. 

      Accidental Death & and Dismemberment

    • B. 

      AD&D

    • C. 

      Answers A & B

    • D. 

      None of the above

  • 2. 
    1. True/False - If you have questions regarding our insurance programs, contact any member of AIA.
    • A. 

      True

    • B. 

      False

  • 3. 
    True or False – Members are required to purchase AD&D, Life or Auto and Home Insurance to maintain their memberships with ALEC.
    • A. 

      True

    • B. 

      False

  • 4. 
    ALEC is offering all members $____ of basic AD&D insurance coverage at no cost?
    • A. 

      $1,000

    • B. 

      $2,000

    • C. 

      $2,500

    • D. 

      $1,999

  • 5. 
    For AD&D protection, everyone is covered even if they do not submit the enrollment form?
    • A. 

      Yes, everyone gets it automatically they only need to complete the form if they want more protection.

    • B. 

      No, the member must complete the enrollment forms and mail in the included envelope for any amount of coverage.

  • 6. 
    What business partner is offering this protection to our members?
    • A. 

      CUNA

    • B. 

      TRUStage

    • C. 

      Harland Clarke

    • D. 

      Allstate Insurance

    • E. 

      None of the above

  • 7. 
    What is the number a member can call if he/she has service questions on existing AD&D and/or life insurance policies?
    • A. 

      888-787-8243

    • B. 

      800-787-8243

    • C. 

      877-787-8243

    • D. 

      855-787-8243

  • 8. 
    Can a member opt-out of future mailings on any insurance mailings?
    • A. 

      Yes, a member can opt-out by calling the Program Support Team at 800.428.3932, extension 4632007.

    • B. 

      No, we are required by law to send insurance offers to every member

  • 9. 
    The Group number to enroll in BVS is:
    • A. 

      ABB60030

    • B. 

      ABBOTT31

    • C. 

      ABB40031

    • D. 

      ABB60031

  • 10. 
    The passing score for BVS courses is now:
    • A. 

      70%

    • B. 

      80%

    • C. 

      85%

    • D. 

      90%

  • 11. 
    Employees will be allowed to take the course _____times before having to be reset?
    • A. 

      1

    • B. 

      2

    • C. 

      3

    • D. 

      4

  • 12. 
    New Accelerator Certificates will auto renew to what new share type?
    • A. 

      63

    • B. 

      A4

    • C. 

      C3

    • D. 

      C4

  • 13. 
    When removing dormancy status, what needs to be done?
    • A. 

      Verify ID, take a copy of ID and scan into Portico if it does not already exist

    • B. 

      Perform a transaction, write DORMANT on the transaction slip

    • C. 

      Complete the Dormant/Closed Account form and save to eFichency

    • D. 

      All the Above

    • E. 

      None of the Above

  • 14. 
    Members are required to sign the Dormant/Closed Account form?
    • A. 

      True

    • B. 

      False

  • 15. 
    NMLS stands for:
    • A. 

      National Mortgage Licensing System & Registry

    • B. 

      Nationwide Mortgage Licensing System and Registry

    • C. 

      National Mortgage Lending System and Registry

    • D. 

      Nationwide Mortgage Lending Serial and Registry

  • 16. 
    NMLS numbers work in conjunction with the ______________.
    • A. 

      REG D

    • B. 

      Safe Act

    • C. 

      Mortgage Lending Protection Act.

    • D. 

      Home Mortgage Protection Act

  • 17. 
    Periodic Audit reviews of this information will occur.  If you needed to search for a specific employees NMLS number, where would you search?
    • A. 

      SmartALEC and search MLO

    • B. 

      SmartALEC and search NMLS

    • C. 

      Call Jennifer Stoerp

    • D. 

      SmartALEC and search

  • 18. 
    The early penalty for a new Accelerator Certificate is now many days of interest? 
    • A. 

      90

    • B. 

      150

    • C. 

      180

    • D. 

      210

  • 19. 
    When does the Balance Transfer Campaign end?
    • A. 

      February 15th

    • B. 

      March 1st

    • C. 

      April 1st

    • D. 

      January 31st

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