Funds Availability
Funds Availability Quiz
Test your knowledge on funds availability with our engaging quiz! This quiz covers important topics related to check holds, membership exceptions, and regulations that govern funds processing.
- 10 thought-provoking questions
- Multiple-choice format to challenge your understanding
- Score your knowledge and learn valuable information
Which of the following is an exception to the New Membership hold?
If the new member deposits a payroll check
If the new member wants to apply for a loan
If the new member was previously a joint owner for longer than 30 days
If the new member is opening a CD
Mr. Member is depositing a treasury check for $12,500. His membership has been open for 28 days. What is the hold on his check?
$12,500 on 5 business days
$12,500 on 1 business day
$5525 on 1 business day and the remaining on 2 business day
$5525 on 1 business day and the remaining on 5 business day
True or False: It is required to select a Extended Hold reason when checks are placed on a 5 business day hold.
True
False
What type of check is this?
Next Day
Non Next Day
No hold item
True or False: Regulation CC requires a written notice (ex. receipt) to be provided to the member when a check is placed on a 5 day hold.
True
False
Mrs. Member presents a $6000 personal check. She would like $2000 to go toward her credit card and $4000 to her savings. What is the appropriate hold for the check?
No float on $2000; 2 day float for $4000
2 day float on $6000
No float on $6000
No float on $2000; 1 day float for $4000
Mr. Member presents two personal checks, one for $500 and another for $600. He wants to deposit the $500 check into his checking and the $600 check into his savings. He would also like both transactions on one receipt. What is the appropriate hold for this transaction?
Both checks on 1 day float
Both checks on 2 day float
$500 check on 1 day float; $600 check on 2 day float
No float on both
True or False: Navy federal does not accept these types of checks.
True
False
Which of the following is not a next day item?
US Treasury Checks
US postal money order
Local Government Checks
NFCU Heloc Checks
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