True or false: It is not necessary to review the Second Chance Checking Flyer with new SCC customers, but you should tell them to review the page when they have an opportunity.
False
100
At what dollar amount is a CTR required?
10,000.01
100
Savings accounts are limited to ____ withdrawals per month.
3
100
True or False: Only a licensed mortgage lender can dicuss loans, rates, terms, and processes with a customer.
True
100
Name the 5 overdraft options a customer is presented with at account opening:
1. No overdraft
2. Sweep Protection
3. Unsecured Revolving Line of Credit
4. Secured Revolving Line of Credit
5. Standard Overdraft (PrivilegePay)
200
When can you process the deposit for a new account?
After the disclosures have been presented and the customer has signed the signature card
200
Name the 4 things CIP requires the bank to collect for individuals opening an account
1) Legal Name
2) Date of Birth
3) Street Address
4) Identification Number
200
What balance does a Personal Platinum Plus account have to maintain in order to avoid a $25.00 service charge?
$10,000
200
All consumer loan applications should be sent to:
Loan Applications Paper
200
What is the maximum overdraft limit for a Second Chance Checking Account?
$300
300
When are we required to provide disclosures to customers? (Hint: there are 2)
At new account opening and when an account product changes
300
What are the 2 instances when we are required to check a non-customer against the OFAC list?
When a monetary instrument is purchased and when they cash a check for over $500
300
When a customer completes Banking GPS course, what should be keyed in the comments section in Mozart or Bancline?
Banking GPS certificate received
300
It is important to understand that loan decisions are made on the basis of the customer's __________ only.
Creditworthiness
300
When a customer opts out of PrivilegePay, all items on OLEIPS must be marked:
Return and Charge
400
All credits post to an account first. Debits are then paid in the following order:
Rejected items from previous day, ATM and Debit Card transactions, Teller Cashed Items, ACH items, All other Checks
400
Who is the primary regulator for Woodforest National Bank?
Office if the Comptroller of the Currency
400
What are the requirements for the SCC progression program? (Must name 3)
1) Customer must be a Woodforest account holder
2) Customer must have an active SCC account open for 12 months or longer
3) At least one account owner must have completed Banking GPS course and have notations on account
4) The account must have a positive balance at the time of qualification
400
The minimum loan amount for a Home Equity Line of Credit is:
10,000
400
What is the maximum term for repayment on a Take Charge Checking?
12 months
500
Which disclosure gives information regarding interest rates, minimum balance requirements, compounding/accounting information, transaction limitations, common fees, monthly service fees and upcoming changes?
Truth in Savings Disclosure
500
Which act requires the bank to provide a consumer with privacy notification upon establishing an account relationship?
Gramm-Leach-Bliley Act/Regulation P
500
At what age can a customer start making normal distributions (withdrawals) from their IRA?
59 1/2
500
Which Act prohibits discrimination in any aspect of a credit transaction, promotes equal availability to credit by all creditworthy applicants, and requires notification to loan applicants of the action taken on their application?
Equal Credit Opportunity Act (ECOA)
500
What is the process for reinstatement of PrivilegePay?
1) Maintain positive balance for 60 days
2) Complete BankingGPS course (must be notated on account)
3) Must "Opt-in" on What You Need to Know About Overdrafts
4) Must sign PrivilegePay Status Update requesting reinstatement