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Account Opening Study Guide

Samantha Wilson 13 questions

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Questions in this quiz (13)

  1. 1Which regulation requires financial institutions to provide the most current disclosures to be given to a customer upon the opening of a consumer account?
    1. ARegulation CC
    2. BRegulation B
    3. CRegulation GG
    4. DRegulation DD
  2. 2Which disclosures are required to be given to a consumer when they open a consumer account? Select all that apply.
    1. ADeposit Agreement and Disclosures
    2. BPre-Deployment Brochure
    3. CAccount and Miscellaneous Schedule of Fees
    4. DRate Sheet
    5. EMoney Notes: Protecting Yourself Against Identity Theft
    6. FRate and Fee Schedule
  3. 3Where can you find the Rate and Fee Schedule?
    1. AEncore!
    2. BOnBase
    3. CAssociate Connections
    4. DEmail from your supervisor
  4. 4What is another name for Regulation DD?
    1. ATruth in Lending
    2. BTruth in Savings
    3. CFair Credit Act
    4. DEqual Credit Opportunity Act
    5. EServicememeber Civil Relief Act
  5. 5Regulation DD is a requirement that applies to all consumer deposit accounts; regardless of whether the account(s) is/are [blank_start]__[blank_end] [blank_start]__[blank_end]
    1. AInterest
    2. Bbearing
  6. 6What is required to be disclosed when quoting interest rates for deposit accounts?
    1. AAnnual Percentage Rate
    2. BAnnual Percentage Yield
    3. CAmount Financed
    4. DAnnual Amount Paid
  7. 7Select all that apply: Which of the following is the correct way to quote interest rates for a deposit account?
    1. AThis is a variable rate account. The rate may change at any time. On (today's date), the Annual Percentage Yield for our savings account is 0.30%.
    2. BThis is a variable rate account. The rate may change at any time. The APY for our checking account is 0.30%
    3. CThis is a variable rate account. The rate may change at any time. On (today's date), the APY for our checking account is 0.30%
    4. DThis is a variable rate account. The rate may change at any time. On (today's date), the Annual Percentage Yield for our savings account is 0.3%
  8. 8Which of the following is the correct way to quote interest on a CD account?
    1. AToday, the current Annual Percentage Yield for our 9 month CD is 1.75%
    2. BOn (today's date) the current APY for our 9 month CD is 1.7%
    3. COn (today's date) the current APY for our 9 month CD is 1.75%
    4. DToday, the current APY for our CD is 1.75%
  9. 9If a customer comes into the banking center and requests information on the interest rate of their account; how should we quote the interest rate?
    1. AThe Annual Percentage Yield for your checking account is 0.30%
    2. BThe APY for your checking account is .30%
    3. CToday, the Annual Percentage Yield for your checking account is 0.30%
    4. DToday, the APY on your account is 0.30%
  10. 10A customer comes into the banking center. She is 16 years old and is looking to open an account to help her save her summer job money. Her mother is with her. What type of account is she authorized to have?
    1. AAn individual checking account
    2. BAn individual savings account
    3. CA joint checking account
    4. DA joint savings account

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Description
Study Guide to help associates understand policy and procedure related to Account Openings in regards to the BCCR
Language
English
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