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100
Processing a customer change of address can't be handled via fax. True or False? According to what Young Americans Bank policy?
What is True and according to the Red flag policy.
100
What account type is excluded from The Young Americans Bank Red Flag policy?
What is a Certificate of Deposit.
100
On Saturday, Angela Basset deposits a $3,500 cashier check with a teller for her daughter. When will the funds be available?
What is Tuesday. Since the deposit was made on a non-business day, it is considered to have been received on Monday, making the funds available on Tuesday.
100
The Red Flag, Identity Theft Prevention Program is designed to: A. Detect Identity B. Prevent C. Mitigate D. All the above
What is D. All the above
200
A Currency Transaction Report is required for $10,000.00?
What is False. $10,000.01
200
What list are all new accounts checked against? What does that Stand for?
What is OFAC (Office of Foreign Assets Control)
200
On Wednesday, Kate Hudson brings in $15,000.00 in cash and wants to send a wire to her mother Goldie Hawn who is in Kenya. Would you file a CTR, a SAR, Both or None?
What is None. Kate Hudson is not a bank customer.
200
The "Welcome Letter" sent to all new account holders is required by? What does the letter do?
What is Bank Secrecy Act and the letter is used to verify whether the address is current and deliverable.
300
Do all of the Young Americans Bank preprinted deposit slips include the availability notice on them?
What is Yes.
300
Name three types of deposits that must be available to customers on the next business day after the day of deposit?
What is Government Check/Us Treasury Checks, US Postal Money Order, Cashier’s, Certified, or Teller/Bank Checks, On-us check, Electronic deposits, such as direct deposit, Cash
300
Chauncy Billups comes to the bank, asks for a $2,000 cashier's check and $1,500 worth of traveler's checks, he pays in cash what should happen?
What is record on a Monetary Instrument Transaction Log. Transactions that involve $3,000 to $10,000 in cash to purchase a bank check or draft, cashier's checks, money orders, or traveler's checks.
300
The "Know Your Customer Policy" requires what three things?
What is Identify and collect appropriate identification Monitor suspicious activity Report suspicious activity to the IRS (Criminal Investigation Division)
400
While both consumer and business accounts are at risk for identity theft business accounts are more susceptible since they often have more money.
What is False because identity theft has nothing to do with how much money is in the accounts.
400
Notice of a hold is always required at the time of deposit?
What is False. If not provided in person at the time the deposit is made, the notice must be mailed or delivered no later than the business day following the banking day the deposit is made.
400
Jason Lee opens a savings account with his daughter Pilot Inspektor on May 1st. On July 2nd, he opens a checking account with her and they deposit a $4,500.00 check. Can a hold be placed on the funds?
What is No. Even though Reg CC holds can be placed on new account funds, since the customer currently holds an account at the bank that has been open for more than 30 days, the checking account is not considered to be a new account.
400
If a customer comes in on Tuesday and deposits a check and we decide to put a hold on the check, then on Wednesday a check that they wrote comes through on there account can we charge them an overdraft fee?
What is NO and we also can't return the check.
400
Where is our monetary instrument log located?
Where is in the Vault inside the Cashier Check book.
500
The maximum Reg CC hold is nine business days.
What is False.
500
List three possible red flags?
What is Unusual account activity, fraud alerts on consumer reports, or attempted use of suspicious account application documents, and many others. See Red Flag examples.
500
If Justin Bieber brings in $13,921.52 in cash that smells like an illegal substance what action should be taken?
What is file a CTR and file a SAR.
500
Lady Gaga fills out a Credit Card application, when we pull her credit report her address is different on the credit report then on her application, since the two are different can we still open the account? Why or Why not?
What is Yes. We can investigate why the two are different and then decide if the reason is good or not.
500
A customer deposits a $10,000.00 check on Monday the 1st. Assuming there are no holidays during the week and we place a hold on this check, what type of hold would it be and what is the funds availability schedule?
What is a Large Deposit Hold. Schedule goes as followed: $100.00 available next business day~ Tuesday the 2nd $4,900.00 available on the 2nd business day ~ Wednesday the 3rd $5,000.00 available on the 7th business day ~ Wednesday the 10th