Quiz 3
Official Check and Cash Handling Quiz
This comprehensive quiz is designed to test your knowledge on official check disbursing, cash handling procedures, and compliance with banking regulations. Whether you're new to the banking industry or looking to refresh your skills, this quiz covers essential topics that every banking professional should know.
- Multiple choice and checkbox questions
- Covers check disbursing processes
- Includes relevant banking regulations
Check Disbursed (Official Checks) the Fee is $1 unless
Money Manager Value Added(Discontinued)
Money manager Plus (Discontinued)
Priority(Discontinued)
Priority Plus(Discontinued)
Presidents Club
Employee
$5,000 aggregate (total)
Money order- Limit of 1000, no payee no remitter
Cashiers check-any amount, has payee and remitter
Correcting Check disbursing errors.
1. Write on the back . "Not used for intended purposes."
2. Have member endorse
3.Deposit into members account -KR SD
4. Make new check - SW KD
1. Write on the back " Corrected check"
Status of Official Checks:Navigate>>Accounting>>Check manager-Status field should say:___________. If it says anything else, we cannot take the check.
Issued
Official
SAR
Filled out whenever there is suspicious activity that may cause the credit union risk or exposure.
Do not tell the member
CTR
Filled out on cash transactions exceeding $10,000 in 1 day
W/non member form will not auto generate
Aggregate amounts in and out and in separate transactions
Form will auto generate
Must tell the member
Cash Handling. Always lock your ______________ and ______________when you leave your station. Take your ____________ with you.
Computer, drawer,key
Phone, Computer, Purse
Drawer limits. Both drawer limits cannot exceed $__________.The top drawer cannot exceed $___________ and the bottom drawer contains _________.
$10,000.$3.000. Remainder
$5,000.$2,500.$1,000.
Why do we arrange the bills in the same direction?
Easier to spot counterfeit bills
More professional
More uniform
Cash Counting Policy. When do you count cash?
1. Recieving(from member or drawer)
2.Tic Marks(received or disbursed)
3. Giving(to member or drawer)
Additional Tips:
Verify cash verbally with member-In lobby and drive thru
Keep hands up
Keep cashbox clean and organized
Use Sortkwik-fingertip grip enhancer used for counting money
Always keep money on counter when exchanging bills with members
Be accurate, your speed will come with time
Receipt-When giving cash
Get cash from drawer
Count bills and enter tic marks
Enter ID-state, #, Exp month and year
Ask members to sign
Print receipt
Count cash to member
Coin counters are at _____________and ____________
Layton Branch
Kaysville Branch
26th Street
Slatersville Branch
3 step process while taking checks
1)Screen -Date, Payee, Written amount, Institution, MICR line, Signature
2)Teller # top left corner, legibly
3)Endorsement and Account #- on back of check
Areas to Screen- 1)Date:
Government not to exceed 1 year
Be aware of checks that say not valid after 90 days etc
Two party checks cannot be older than 6 months
Same w/ 3 party checks (has 6 month limit)
Areas to Screen: 2) Payee
Check must be made payable to someone or to cash
Endorsement must be exactly as made payable
All payees must sign
Areas to Screen: 3)Written amount
Written amount is the legal amount and must be taken accordingly
Number amount is legal amount and must be taken accordingly
Areas to Screen: 4)Institution
Check must be payable through an institution
Check must be payable through a payee
Areas to Screen 5) MICR Line/ Encoding
Must have routing and account # on the bottom
Must have account number on the bottom only
Endorsements
Cash back-Signature and account #
3 Party checks- Payee on check has to sign, then they write to pay to the order of, then that person signs given to a 3rd person , A check made out from one person to another then a 3rd person
Business Deposit only- Stamp and account #
Deposit only ( Goldenwest Stamp)- Stamp and account #
Restrictive Endorsement- Restricts what you can do w/check, Loan payoff check-ask senior teller for help
Do not disclose your limit ____________ to the member, always ___________ yourself and verify _______.
Limit. Dismiss. 'Key information'.
Teller #. Dismiss. 'Key information'.
Policy Violation
1st Violation: Written Warning
Continued Violation: Probation/ Termination
1st Violation: Verbal Warning
Key information: "Why should I take this check?"
1)New account?
2)Matching seasoned funds (main menu, verification of deposit)
3)Check history(IQ, related functions, view transaction history)
4)Loans
5) Direct Deposit (IQ, related functions, view transaction history, Advanced, deposit)
How far should you check back on Matching seasoned funds, check history, and direct deposit?
3 months
1 week
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