Funds Availability
Funds Availability Quiz
Test your knowledge on funds availability and check processing with our comprehensive quiz! Designed for banking professionals, this quiz covers real-world scenarios and regulatory guidelines.
Key topics include:
- Float amounts and check types
- Check deposits for new members
- Handling different transaction types
Mr. Brown , An 10 year member , comes to pay on auto loan for $400 , $200 On Credit card and remaining to Checking account . What's the float amount ? What is the check considered ?=
1 Day float $872, Next day check
No hold $600, 1 day float $272.00
2 Day Float $872, Non Next Day check
1 Day Float $272, Next Day check
When new members deposit a check into their savings, what actions should be taken ?
Deposit check in USD, place hold on check for 5 days and put on hold in Sessions using IMMP
Deposit check in Encore for 5 days reason : 30 days or less
Deposit Check in Encore and place hold on check for 5 days and put on hold in Sessions using IMMP
Deposit Check in Encore and place hold on check For 5 days , reason : 30 days or less , and place hold in sessions using IMMP
A new member ( less than 30 days ) , wants to deposit a cashier check for $15000.00 , What float amounts should you put in encore ?
5 day $15000.00, reason : your account being open 30 days or less
1 day $225.00 , 2 day $225.00 , 5 day $14550.00
2 day $15000.00
1 day $5525.00 , 5 day $9475.00 reason : your account being open 30 days or less
A member just left 30 minutes ago to deposit a check with one of your colleagues for $1100.00 non next day check. She comes back in because she forgot to deposit one of her checks she had in her wallet for $1423.74. What float amount should you enter ?
1 day $225 , 2nd day $1423.74 , next day
1 day $1423.74, non next day
1 day $1423.74 , next day
1 day $1423.74, no hold
Mr. Marles came to the branch to deposit $200.00 in cash to his checking, pay $1700.00 on his car loan from his check and deposit remaining to certificate . How would you process this in encore ? What float would you put in encore ?
Deposit $200 to checking ,Multiple Transaction, 1 day float $5700.00 apply $1700 to loan and $4000.00 to certificate
Deposit $200 to checking , Multiple Transaction, no hold on $1700 apply to loan and 1 day float $4000.00
Deposit $200 to checking , Separate Transaction( end), check deposit 1 day float check for $5700.00, apply $1700 to loan and $4000.00 to certificate
Deposit $200 to checking , Separate Transaction ( end), 2 day float $5700.00 apply $1700 to loan and $4000.00 to certificate
What type of check is this considered and float amount ?
Non next day , 2 day $2251.40 , reason: doubt of collectibility
Non next day , 2 day $2251.40
Next day, 2 day $2251.40
Non next day , 5 day $2251.40
What float amount should you enter in Encore and what is the Check being deposit considered ?
Next Day , 2 day float $4700.00
Non next day , $225 released 2 day float $4475.00
Non next day , 1 day float $4700.00
Non next day , 2 day float $4700.00
Non next day , 5 day float $4700 , reason :Doubt of Collectability> Altered of fictious check
What float amount should you enter in Encore and what is the Check being deposit considered ?
Next Day and Non next day, 2 day float $3800.00
Next Day and Non next day, 1 day float $1000.00 2 day $2800.00
No hold and next day , no float $2800.00 and 1 day $1000.00
Next Day and Non next day, 1 day float $2800 2 day $1000.00
What float amount should you enter in Encore and what is the Check being deposit considered ?
No Hold
Non next day , 1 day float $500.00
Next day , 1 day float $500.00
Non next day , 2 day float $500.00
What float amount should you enter in Encore and what is the Check being deposit considered ?
Non next day , 2 day float $15000.00
Next day , 2 day float $15000.00
Next day , 1 day float $15000.00
No hold
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