PG 260-R04 Topic 3
What is the reason code for insufficient funds?
1
T/F - The status of the policy has no bearing on the action to be taken when a returned payment case is received in the queue?
False
What error will present when a second returned payment is received?
ER021 - Returned Check Already on Policy
How would you reinstate a policy if a replacement payment is received prior to the cancel date?
Continuous coverage
There are 2 locations to find this resource. One is the Auto Job Aids site. What is the other location?
SLC > PA Training Path (under Returned Payment topic)
What status(es) must the policy be in for the system to determine the PCD if the reason for the returned payment is 1, 2 or 3?
01, 03, 08 or 23 status
What review is sent to the returned payment queue when the policy is in 27 status?
032 Review - Returned Check Renewal Billing Sent Handle Manually
When a returned payment is received for an unissued policy, what pend should be added to the F4 screen?
30 pend code
T/F - We treat a replacement payment the same as we would a balance due payment.
True
You've accessed the Accounting Terminal System in the North Coast office for CA. Are you able to review a refund in the South Coast office for CA?
No - you must access the Accounting Terminal System in which the check was produced.
What reason code would display if the reason for the returned payment on BOS was "Unable to locate account?
Reason Code 7
What letter is sent to the insured when there is a returned payment on a policy in 05 status?
A-191
What steps are needed for the 497 Review?
Write the agent to explain that we received a returned payment and are sending a cancellation notice even though the policy has been mailed.
Create a RTCK transaction.
What error presents when a short payment is received that does not match the returned payment?
03I Error
What does the 'O/S' status indicate when reviewing 'Status Request by Payment Number'?
This indicates that a refund check has not been cashed and is still a negotiable tender.
Should you delete the Returned Payment case if the insured has NOT paid enough good money on the policy?
NOOOOOOOOOOOOOOOO
If a payment is returned on a policy that has been transferred to another state, how is the premium charge transferred to the new policy?
X45 & credit the 233 account
What report can be reviewed when you receive the 09I Error?
RD1ZA111 (Suspense Account Outstanding Listing)
If we determine that we cannot accept the short payment, how would you handle?
Return the payment to the insured.
From the Maintenance Transaction Help Menu, what option do you select to stop pay a refund?
2 to stop pay
What resource can you use when you need to recreate a deleted returned payment case?
PG 260 - R04 Topic 2
What resource would you pivot to if a payment is returned on a policy in 14 status and a refund was produced from the cancellation?
PG 260-R04 Topic 6
T/F - A second returned payment is received, and we previously sent the insured a cancellation notice. Because we have a second returned payment, we must extend their coverage beyond the original date.
False - do not set a new term date on the policy. Set a 31 pend follow up for both payments and set 66 pend to prevent further processing.
A current returned payment is on the policy and a payment is received for a previous balance due that does not cover the returned payment. Is the fact that the policy is insuring a 2024 Aston Martin Vanquish reason to accept the payment?
NOOOO!!!
T/F - The Status Request by a Payment Number screen should be used to request a stop pay.
False - DO NOT use this screen to place a stop pay