Courtesy Pay Overview and Procedures Answers PDF

**What is the title given to the person who has complete control over a General Membership account?** A. Secondary Member B. Joint Account Holder C. Primary Member D. Authorized Signatory 2. **Which of the following should NOT be asked for member verification?** E. Driver\'s lice...

**What is the title given to the person who has complete control over a General Membership account?** A. Secondary Member B. Joint Account Holder C. Primary Member D. Authorized Signatory 2. **Which of the following should NOT be asked for member verification?** E. Driver\'s license number F. Beneficiary on the account G. Date of birth H. Direct deposit amount 3. **What type of identification may a non-citizen have that is primarily used for tax reporting?** I. Individual Tax Identification Number J. National Identification Number K. Social Security Number L. Permanent Resident Card 4. **When is documentation of a physical address required from a member?** M. For account closing procedures N. When applying for a loan O. When the Primary ID does not have a physical address P. For updating beneficiary information 5. **Which statement is accurate regarding the addition of beneficiaries to an account?** Q. Both primary and joint members can add beneficiaries. R. Beneficiaries can only be added through a court order. S. Anyone can add a beneficiary with proper identification. T. Only the primary member can add a beneficiary to the account. 6. **What must be provided to request a name change on an account?** U. Documentation such as a marriage certificate or divorce decree V. A social security card W. An acknowledgment from a third party X. Proof of residency 7. **What is the fee for transferring funds from a Primary Savings account for overdraft protection?** Y. \$5 Z. \$3 A. \$10 B. No Fee Assessed 8. **Which account is typically used first for overdraft protection transfers?** C. Secondary Savings D. Primary Savings E. Overdraft Line of Credit F. Money Market Account 9. **What must be verified in person for member verification?** G. Valid State ID H. Social Security Number I. Phone Number J. Account Number 10. **Which of the following is NOT a valid form of ID for member verification?** K. Utility Bill L. Birth Certificate M. Driver\'s License N. Passport 11. **How many verification questions must be asked for over-the-phone member verification?** O. 4 P. 3 Q. 2 R. 1 12. **What is required for a youth member without a State ID during in-person verification?** S. Report Card T. Social Security Number U. Utility Bill V. Birth Certificate 1\. What is a primary unacceptable form of identification when verifying a person\'s ID? A. State-issued Driver\'s License B. Military ID C. Passport D. Social Security Card Answer: Social Security Card (D) A Social Security Card is listed as an unacceptable form of primary Identification 2\. Which of the following is a key technique for detecting fraud when verifying identification A. Checking for holograms on IDs B. Confirming the expiration date on I C. Asking for related identification document D. Ensuring the ID photo matches the person Answer: Ensuring the ID photo matches the person (D) Verifying that the person in front of you matches the photo on the ID is crucial in detecting potential fraud. 4\. Which evidence is prime for rejecting an identification during transactions? A. Bank statement with matching name B. Recent voter registration card C. Expired identification document D. Utility bill showing current address Answer: Expired identification document ( An expired identification document is a clear reason to reject ID verification 5\. When verifying ID, which of the following is NOT a technique recommended for ensuring validity? A. Assess the security features of the document B. Cross-check with social media profile C. Use discretion and judgment D. Look for matching birth dates Answer: Cross-check with social media profiles ( Cross-checking with social media profiles is not a standard technique f verifying identification validity 6\. What is required on a check endorsed by a Power of Attorney (POA)? A. The principal\'s name must be printed and the POA\'s signature must be present. B. Only the POA\'s signature is needed. C. An official government form must accompany the check. D. The principal must sign the check in addition to the POA. Answer: The principal\'s name must be printed and the POA\'s signature must be present. (A) For checks endorsed by a POA, the principal\'s name should be printed while the POA endorses with their signature. 7\. When verifying signatures on a check, what should you compare the member\'s signature on the check to? A. The date of the transaction. B. The member\'s employment ID. C. A recent bank statement. D. Any previous signature you have access to. Answer: Any previous signature you have access to. (D) It is crucial to verify the member\'s signature against any previous signatures you have access to for proper validation. 8\. What constitutes good standing for a member cashing a transit check? A. The member\'s identification must be verified as expired B. The member has no current overdrafts beyond the Courtesy Pay limit. C. The member\'s account must be open for at least six months. D. The member has maintained a positive balance for a year. Answer: The member has no current overdrafts beyond the Courtesy Pay limit. (B) A member is considered in good standing if they have not exceeded their Courtesy Pay limit and are within the 30-day period. 10\. What happens to a Power of Attorney (POA) authority upon the death of the principal? A. The POA authority ends immediately. B. The POA remains valid for 30 days after the principal\'s death. C. The POA must be re-validated every year. D. The POA can continue until formally revoked by the family. Answer: The POA authority ends immediately. (A) The authority granted to a Power of Attorney is terminated immediately upon the principal\'s death. Documentation verification is required each time a check is presented by a PO regardless of their relationship to the principal. 12\. What is the main feature that is often disputed in checks according to verification guideline A. The handwriting of the signatures. B. The amount written on the check. C. The date of the check. D. The name of the bank on the check. Answer: The handwriting of the signatures. (A) Handwriting, especially of signatures, is the most common feature disputed in documents including checks during verification A negotiable instrument must represent a payment for a specific dollar amount 15\. What does \'stale-dated\' mean in relation to checks? A. A check that is written for a date in the past B. A check that is issued on a national holiday C. A check that is valid for one year D. A check that cannot be cashed until a future date Answer: A check that is written for a date in the past (A) A stale-dated check is one written for a date in the past, which may not be negotiable. 16\. What happens if the numerical and written amounts on a check differ? A. The numerical amount is considered legal B. Neither amount is valid C. The bank will halter the transaction D. The written amount is considered legal Answer: The written amount is considered legal (D) If the numerical and written amounts differ, the written amount is consider the legal amount. 17\. Which of the following statements is true regarding checks made payable to \'Cash\'? A. It is not negotiable at all B. Only the specified company can negotiate C. Anyone can negotiate it D. It requires a bank endorsement Answer: Anyone can negotiate it (C) Checks payable to \'Cash\' can be negotiated by anyone. 18\. What is indicated by the MICR line on a check? A. The account number and routing information B. The date the check was cashed C. The location of the issuing bank D. The amount of tax deducted Answer: The account number and routing information (A) The MICR line provides the account number and routing information to facilitate the processing of checks. 19\. When are normal presentment times for checks generally set to expire? A. 3 months from the issue date B. 6 months from the issue date C. 12 months from the issue date D. No expiration unless stated otherwise Answer: 6 months from the issue date (B) Normal presentment time for checks is usually 6 months from the date on the check. 20\. If a check is post-dated, what does it mean? A. It is not negotiable until the specified future da B. It has already been cashed C. It can be cashed immediately D. It is valid for 30 days only Answer: It is not negotiable until the specified future date ( A post-dated check is not negotiable until the date indicated on the check. The Angel Savings Account is intended for members aged 13 to 17. False Which of the following accounts earns 4.00% APY on balances up to \$15,000?  Aspire Savings Account  Money Market Account  Alliance Checking Account **(correct)**  Angel Savings Account Credit Union/Bank robberies commonly take place between 9:00 AM and 11:00 AM on Fridays. True Our mission statement is simple, to provide \_\_\_\_\_\_\_\_\_ financial services, inspired by Catholic values and traditions, to enhance the financial well-being of our Catholic communities and the neighbors we serve.  Great  The Best  Trusted **(correct)**  Sound The transaction code \'VO\' stands for Vault Overage. False \'KR\' stands for \"Check Received\" True What does the Transaction Code \"X\" Mean  Transfer **(correct)**  X-Ray with 360 view  Withdrawal X amount of cash  Deposit X amount of cash What does the transaction code \'SD\' represent?  Share Deposit **(correct)**  Share Disbursed  Cash Received  Loan Payment The transaction code \'KD\' refers to cash deposit False