Quiz 4 Goldenwest
Goldenwest Check Processing Quiz
Welcome to the Goldenwest Check Processing Quiz! This quiz is designed to test your knowledge of check processing regulations and operational procedures. With 26 engaging questions, you can evaluate your understanding of essential check handling protocols and compliance requirements.
Prepare yourself with the following:
- Multiple Choice and Checkbox questions
- Insights into member account handling
- Key procedures for cash handling and transactions
What are the 6 areas to screen on a check?
Date,Payee, Written amount, Institution, MICR Line/Encoding, Signature
Date, Remitter, Written amount, Institution, MICR Line/ Encoding, Signature
What is the "key information" to look for in a member's account before accepting a check?
1)New account 2) Matching seasoned funds 3) History 4) Loans 5) Direct deposit
New account, Savings only, Loans, Deposit, History
Explain Courtesy Pay
$22 per transaction, Attached checking share, Allows member to go $750 in the negative, Negative balance must be paid in 30 days from the first day it went into the negative, Once brought positive account must stay in good standing for 24 hours
$25 per transaction, Attached checking share, Allows member to $750 in the negative, Negative balance must be paid in 30 days from the first day it went into the negative, once brought positive account must stay in good standing for 48 hours
When do you fill out an SAR?
Whenever there is suspicious activity that may cause the credit union risk or exposure
Only managers fill out SAR
How many times should cash be counted?
3 times: When taken out of drawer, TIC marks, Given to member
2 times: When taken out of the drawer, and given member
What are your drawers limits? Total________. Top drawer cannot exceed_________Bottom drawer contains__________
$10,000. $3,000. Remainder.
$10,000. $5,000.Remainder.
Member has a check for $500. He wants $100 to go into savings and the rest in checking
KR SD
KR KR SD
Member comes in and needs to pay her brothers Line of Credit payment from her checking.
SW X LP Y
SW LP Y
SW X LP
Member wants to deposit one check for $20 and another for $92 into his checking
KR SD
KR KR SD
KR SD SD
Member brings in a check for $60 and $50 cash. He wants $25 to go on his overdraft and the rest in his savings.
KR CR LP SD
KR CR SD SW X LP
Member wants to transfer $5 from his savings to his brother's savings account.
SW X SD Y
SW Y SD
SW X SD
Member comes in with a check for $1268.00. He wants to pay on his car loan and deposit all but $50.00 in his checking.
KR LP SD SW CD
KR SD SW LP CD
KR SD SW X LP CD
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