Teller Training: "Graduation Quiz"

If a cash transaction exceeds $10,000, the teller is required to complete a CURRENCY TRANSACTION REPORT (CTR) as mandated by the government. This report is necessary for large cash transactions and helps to monitor and prevent illegal activities such as money laundering. Therefore, the statement is true.

During a robbery, it is important for tellers to remain calm. This is because by staying calm, they can encourage the robber to mirror their behavior and not become more nervous or agitated. Upsetting or antagonizing the robber may escalate the situation and put everyone's safety at risk. Therefore, remaining calm is the best approach to handle a robbery and ensure a peaceful resolution.

The appropriate way of greeting the customer is by using a polite and respectful greeting, such as "Good morning, Mr. Alani." This greeting shows professionalism and acknowledges the customer's presence. Asking "How can I help you today?" further demonstrates a willingness to assist the customer with their needs.

A safe deposit box is the most suitable product for a customer who carries excessive valuables in a briefcase. A personal checking account and personal savings account are not designed to store physical valuables securely. Additionally, the statement "There is no suitable product for this purpose" is incorrect, as a safe deposit box provides a secure and protected location for valuable items.

Regulation CC requires that the information regarding the availability of deposits for immediate withdrawal must be clearly displayed at ATMs. This means that banks are obligated to inform customers about any potential delays in accessing their deposited funds. Therefore, the statement "True" accurately reflects the requirement outlined in Regulation CC.

The first concern in the event of a fire is the safety of people. This includes both employees and customers who may be present in the building. The priority is to ensure that everyone is safely evacuated and out of harm's way. While assets such as property and equipment are important, they can be replaced, whereas the safety and well-being of individuals cannot be compromised. Therefore, the correct answer is people.

The statement mentions that even if you hold the bill up to the light, you won't be able to see a security thread. However, this is incorrect. Security threads are embedded within currency bills and can be seen when held up to the light. Therefore, the correct answer is False.

Money orders, cashier's checks, traveler's checks, and certified checks are negotiable products that are commonly guaranteed by banks. These financial instruments are widely accepted and can be used as a secure form of payment. Therefore, the statement that these products are non-negotiable and rarely guaranteed by banks is incorrect.

The watermark on a bill appears on the right of the portrait on the face of the bill. This is a security feature used to prevent counterfeiting. The watermark is a faint image or pattern that is embedded into the paper itself and can be seen when held up to the light. Placing the watermark on the right of the portrait helps to ensure its visibility and authenticity.

A negotiable instrument is a document that guarantees the payment of a specific amount of money. In order for a check to be negotiable, it must meet certain requirements, one of which is that it has to be made in writing. This means that a check cannot be oral or electronic, it must be written on paper. Therefore, the statement "Check has to be made in writing to be negotiable" is true.

The credits in this transaction are the deposit slip for $130 and the cash-out ticket for $20. This means that $130 is being deposited into the account and $20 is being withdrawn as cash.

Bond interest is usually exempt from state, local, and property taxes. This means that individuals who earn interest from bonds are not required to pay taxes on that income at the state, local, or property level. This exemption is often seen as an incentive for individuals to invest in bonds and can make them a more attractive investment option. However, it is important to note that there may be exceptions to this general rule, and it is always advisable to consult with a tax professional or financial advisor for specific tax advice.

Every check typically has three endorsements on the back: the payee's endorsement, the endorsement of the depositary bank, and the endorsement of the collecting and returning bank. These endorsements are necessary for the check to be processed and the funds to be transferred correctly.

Checks are commonly used for making payments and transferring funds between individuals and businesses. They provide a written record of the transaction and offer a level of security as they require the payee's endorsement for cashing or depositing. Tellers need to be familiar with different types of checks, endorsement procedures, and check cashing policies to ensure accurate and secure processing of transactions.