TERMS
DEFINE TERM
WHAT IS A SET PERIOD OF TIME?
T/F WE ARE ALLOWED TO PRINT OUR RATE SHEET TO GIVE TO OUR CLIENTS.
WHICH IS TRUE?
APY STANDS FOR THIS.
WHAT IS ANNUAL PERCENTAGE YIELD?
CD IS AN ABBREVIATION FOR THIS PRODUCT.
WHAT IS CERTIFICATE OF DEPOSIT?
THE PERSON WHO APPROVES A CD CLOSURE IN THE BRANCH.
WHO IS EITHER OF THE MANAGERS?
ALL CD'S RENEW AUTOMATICALLY.
WHICH IS TRUE?
THIS IS THE ONLY CD WE ARE CURRENTLY DOING RATE BUMP EXCEPTIONS FOR.
WHICH IS 4 MONTHS.
THE MINIMUN AMOUNT OF FUNDS TO OPEN A REGULAR CD.
WHAT IS $1,000?
THESE ARE THE TERMS OF OUR CURRENT FEAUTURED CDS.
WHAT ARE?
4 Month CD APY^ 3.75% Rate 3.68%
*8 Month CD APY 3.75% Rate 3.68%
12 Month CD APY 3.75% Rate 3.68%
THE NAME OF THE ACCOUNT FOR THE CD CLOSURE GL.
WHAT IS COD SUSPENSE?
THIS IS THE GRACE PERIOD FROM MATURITY ON CDS.
WHAT IS 10 DAYS?
THIS IS WHY THE APY IS HIGHER THAN THE RATE.
WHAT IS THAT THE APY INCLUDES COMPOUNDED INTEREST WHEN CDS CAPITALIZE THE INTEREST?
THE OPTION IN NUPOINT THAT DISPLAYS THE PENALTY THE CLIENT WILL PAY IF THEY DO A PARTIAL WITHDRAWAL TODAY WHEN CD HAS NOT YET MATURED.
WHICH IS "CALCULATE FORFEITURE"?
T/F CLIENTS CANNOT HAVE THEIR IRAS BE CDS.
WHICH IS FALSE?
THIS OCCURS IF A CLIENT NEEDS TO WITHDRAW FUNDS BEFORE THE END OF THE CD TERM.
WHAT IS A PENALTY?
T/F CDS ALWAYS AUTO RENEW FOR THE SAME TERM.
WHAT IS FALSE?
THIS PERSON APPROVES RATE BUMP EXCEPTIONS.
WHO IS THE REGIONAL SALES MANAGER?
THIS IS HOW OFTEN THE INTEREST IS COMPOUNDED.
WHICH IS DAILY?
A CLIMBING RATE CD ALLOWS CLIENT TO ACCESS FUNDS PENALTY FREE THIS OFTEN.
WHICH IS EVERY 6 MONTHS?
THE OPTION IN NUPOINT THAT DISPLAYS THE AMOUNT THE CLIENT WILL RECIEVE BY CLOSING THEIR CD TODAY.
WHICH IS "CLOSE THE ACCOUNT"?
THESE ARE WHAT THE TERM PENALTIES ARE.
TERMS <90 DAYS-30 DAYS INT ON AMT W/D?
TERMS 3-11 MO -90 DAYS INT ON AMT W/D?
TERMS 12-47 MO -180DAYS INT ON AMT W/D?
TERMS ≥ 48 MO -360 DAYS INT ON AMT W/D?
THIS IS WHERE YOU REQUEST RATE BUMP EXCEPTIONS THROUGH.
WHAT IS THE CD RATE EXCEPTION SHARTSHEET?
INTEREST CAN BE PAID IN THESE 3 DIFFERENT WAYS.
WHICH ARE: ADDED TO PRINCIPAL (CAPITALIZE), TRANSFER TO CENTIER DDA/SAV, AND ACH TRANSFER TO ANOTHER FINANCIAL INSTITUTION?
THESE ARE OUR STANDARD CD TERMS.
WHICH ARE:
3,6,12,18,24,36,48, & 60 MONTHS?
CIRCUMSTANCES THAT THE FORFEIT AMOUNT CAN BE WAIVED.
WHAT IS:
-DEATH ON THE ACCOUNT
-AN ACCOUNTHOLDER DECLARED LEGALLY INCOMPETENT
-CLOSING A 3YR CLIMBING OR 5YR GAURANTEEED GROWTH WITHIN 10 DAYS OF THE SCHEDULED RATE CHANGE INTERVAL
-CLIENT IS CLOSING THE ACCOUNT WITHIN 10 DAYS OF MATURITY
-BANK/ASSOCIATE ERROR