CSR Crash Course

Question 1

Cash out

Answer 1

Cash the client leaves with

Question 2

Cash in

Answer 2

total amount + currency exchange

Question 3

Beneficiary

Answer 3

Entity that benefits from the funds of the transaction

Question 4

Robbery scenario: Robber presents a note demanding $,makes a verbal threat, and no weapon present

Answer 4

Activate silent holdup alarm, Do not give $, Turn and walk away, Inform other associates, Keep note, and remember description

Question 5

Robbery scenario: Robber shows a weapon, makes no physical threat

Answer 5

Activate silent alarm, Do not give $, turn and walk away, inform other associates.

Question 6

Robbery scenario: Robber points or fires a weapon or takes hostages, claims to have an explosive device, physical threat to anyone

Answer 6

Remain calm, don’t provoke, comply, give money, add dye pack and gps tracker, activate silent alarm, and inform other associates. After lock financial center and call 911.

Question 7

Workplace Violence

Answer 7

Call 911
Call SOACC
IEI (Internal Enterprise Investigations)

Question 8

Client treatment skills

Answer 8

Hear
Empathize
Apologize
Take ownership
Document

Question 9

Workplace harassment or threat

Answer 9

Escalate to manager, Employee relations in GHR, or Global Corporate security (SOACC)

Question 10

Active Shooter

Answer 10

Run, Hide, Fight

Question 11

ADA (American Disabilities Act) Compliance

Answer 11

Designed to eliminate discrimination against individuals with disabilities.
Title I: Employment
Title III: Public Accommodations

Question 12

ADA Title III key components

Answer 12

Must not discriminate
Must not screen out individuals from equally enjoying products
Prohibits use of separate or unequal products
Must not refuse to modify practices or procedures

Question 13

Service Animals

Answer 13

Can only ask if the animal is required because of a disability. What work has the animal been trained to perform?

Question 14

3 Core CSR Responsibilties

Answer 14

1. Client Care
2. CSR Client engagement
3. Processing accurate and error free transactions

Question 15

EFT

Answer 15

Electronic Funds Transfer Act
Terms and conditions must be disclosed to the client
Limits client liability

Question 16

BSA

Answer 16

Bank Secrecy Act
Deters money laundering and criminal activity
AML (antimoney laundering compliance)
Report suspicious transactions

Question 17

CTR

Answer 17

Cash transaction report

Complete when client handles more than $10k in one transaction (or day)

Question 18

Expedited funds availability act

Answer 18

Ensures clients have access to funds they deposit within a reasonable time frame.

Question 19

Check 21 Act

Answer 19

Expedites electronic check clearing

Allows check images to be sent electronically

Question 20

Truth in Savings Act (Regulation DD)

Answer 20

Enables consumers to compare deposit accounts at different financial institutions.

Question 21

RSNIP (Retail sales of non-deposit investment products)

Answer 21

Requires investment disclosures
Must be registered to sell
Refer clients to non-registered employees first

Question 22

MICR

Answer 22

Magnetic Ink character recognition

Reads checks and deposit slips

Question 23

Validator

Answer 23

Prints receipts

Validates checks

Question 24

QST

Answer 24

Quick Service Terminal

Pulls up client account using debit or credit and PIN

Question 25

How to be a client advocate (4 steps)

Answer 25

1. Take ownership 2. Act with empathy 3. Make it easy 4. Get it right (set expectations)

Question 26

6 Basic Client financial requirements

Answer 26

1. Safeguard my money 2. Make it easy and convenient to use my $ 3. Help me save $ for the future 4. Let me borrow and repay over time 5. Help me use my $ to make more $ 6. Protect my financial standing in case of emergency

Question 27

Bank reserves

Answer 27

Set amount of money held by a bank

Question 28

Interest

Answer 28

Amount a bank charges a borrower to buy (borrow) its $

Question 29

Compounding interest

Answer 29

Initial principal amount + Accumulated interest earned in prior periods

Question 30

Banks make money in 4 ways

Answer 30

1. Interest on loans 2. Fees and service charges 3. Investments 4. Other business units

Question 31

3 basic banking functions

Answer 31

``` 1. Deposit function Stored in Savings or DDA 2. Payment function EFTs, Debit or credit accounts 3. Credit Banks generate profit by earning interest on $ loaned ```

Question 32

4 types of common deposit accounts

Answer 32

1. Checking 2. Savings 3. CDs 4. IRAs

Question 33

Banks typically use average daily balance to calculate interest rates

Answer 33

=SUM daily balances per period/# days in the period

Question 34

Banks pay interest on savings using

Answer 34

1. Fixed or flat rate interest 2. Tiered interest 3. Blended interest

Question 35

CD (Certificate of Deposits)

Answer 35

``` Specified time period Specific interest rate Can require min/max deposits FDIC insured Penalty if principal is withdrawn Higher yield than other savings ```

Question 36

IRAs

Answer 36

Tax deferred Minimal maintenance by clients 10% penalty + taxes if withdraws made before 59.5 Must begin withdrawing by 70.5

Question 37

4 types of IRA

Answer 37

SEP-IRA CESA Roth IRA Traditional IRA