Which of the following are key features of Current / Checking Accounts? 3 answers are correct. Deposited funds can be withdrawn any time without any notice to the depository institution They offer higher interest than Notice deposits Customers are allowed to distribute money directly to others Checking accounts allow the account holder to use personal checks in place of cash to pay debts.
Which of the following can be classified as a demand deposit product. 3 answers are correct. Checking Account Fixed Deposit Current Account Savings Account Savings account with notice.
What are the 3 different categories of deposits? Demand Deposits Current / Checking Accounts Notice Deposits Fixed Term Deposits Investment Accounts.
Mark the correct categories of each type of deposits. 3 answers are correct. Fixed Term Deposits. Time Deposits Time Deposits. Fixed Term Deposits and Investment accounts Notice Deposits. Savings accounts with notice and Savings schemes Demand Deposits. Current / Checking Accounts and savings accounts.
Which of the following statements accurately applies to the Transaction Type Group / Media matrix? 2 answers are correct. It controls which payment services are available for an account It places a lock on an account It is defined in the product configurator.
Choose the correct statements with regards to overdraft limit types. 2 answers are correct. Tolerated Limit. The customer pays overdraft interest for the utilized portion of the tolerated limit.The overdraft interest rate is usually higher than the debit interest rate. Committed Limit. The account holder is not usually notified of this limit Access Limit. The customer pays overdraft interest on the utilized portion of the access limit. The limit amount is usually agreed upon with the account holder Seasonal Limit. It is always linked to the account limit (commited or tolerated limit). Extra Amount Limit. Multiple Extra Amount limit agreements can exist silmultaneously.
Examples of Notice Deposits include Savings accounts with notice and Savings schemes (also known as installment savings schemes) False True.
An example of a fixed termed deposit is a Savings account with notice Current account Time Deposit Notice Deposit.
Which of the following are some of the key features of Time Deposits? 3 answers are correct. The interest rate is fixed for a complete term Money can be withdrawn after the term has ended The term can range from a few days to a few years Access to funds is restricted as all or part of the deposit is subject to notice.
What is the primary feature of all demand deposit products? They offer higher interest rates than notice deposits They consist current accounts, checking accounts and savings accounts You can withdraw funds from them at any time They have a fixed maturity.
Choose attributes below that are particularly relevant for savings accounts. 5 answers are correct. Transaction Type Groups Media Direct Debits Dependent Card Standing Orders Contract Relationships Access Limits Savings Book.
Choose the 3 types of Overdraft Limit Types Seasonal Limit Access Limit Tolerated Limit Extra Amount Limit Committed Limit.
What is not mandatory for creating an account Correspondence Recipient Contract Start Date Contract-Managing Organizational Unit (Contract Manager) Product Account Holder or Business Partner.
Which of the following are some of the key features of Savings schemes? 3 answers are correct. Acess to funds is restricted as all or part of the deposit is subject to notice. The payment agreement is for a fixed period, for example, a minimum monthly instalment of EUR 100 for 25 years An increasing bonus is paid for the amount saved each year Withdrawals without prior notice are usually penalized with an interest penalty.
Which of the following statements correctly describes an Access Limit? The amount on top of a standard limit, extending the standard amount by which an account can be withdrawn Restricts the amount of transactions of certain types that can be posted to the account within a time period The amount by which an account can be overdrawn Impacts user role based access control.
A savings book can be issued for a savings account if required. If this is the case you also need to send a bank statement to the customer True False.
In the product configurator you can define the permitted combinations of transactions type groups and media. Which of the following statements are true. You can deactivate (green traffic light) all changeable combinations of transaction type groups and media You can activate (red traffic light) all changeable combinations Changeable combinations display an open padlock Non changeable combinations display a closed padlock You can activate or deactivate the entire matrix in one step by changing the traffic light for the matrix.
A bank has a savings product that they want to allow telephone banking but only if the customer requests it. How would they set the transaction type/media settings in the product configurator. Traffic light is green, with padlock locked Traffic light is green, with padlock unlocked Traffic light is red, with padlock locked Traffic light is red, with padlock unlocked.
The standard declaration of intent applies to the complete time deposit and cannot be defined individually for each time deposit agreement. Which 3 are applicable. Identical Renewal Full repayment Rate Lock Period Availability on due date.
If multiple seasonal limits are valid simultaneously, the seasonal limit category is used to define whether the system uses the sum of all seasonal limits or the highest seasonal limit. Therefore, there are two categories of seasonal limits. Multiple Seasonal Limit (M) and Integrated Seasonal Limit (I) Additional seasonal limit (A) and Integrated Seasonal Limit (I) Access Seasonal Limit (A) and Additional Seasonal limit (D) Multiple Seasonal Limit (M) and Access Seasonal Limit (A).
Match up the definitions for the different master contract qualities Multi-Currency Multi-Entity Multi-System Multi-Level Multi-Time Zone.
Which of the following statements correctly apply to Savings Accounts with Notice (2 are correct) Does not have a fixed term Has a fixed term Charges a penalty for withdrawals made without notice Utilizes a payment agreement with the customer.
Which of the following statements applies to a Savings Scheme Agreement? (2 answers are correct) It does not have a fixed term It has a fixed term A penalty is charged for withdrawals without notice It utilizes a payment agreement with the customer.
How can the credit interest rate be determined for a time deposit? (3 answers are correct) Using the reference interest rate The rate is fixed at the start of the term depending on the duration of the rate lock period The rate is fixed when an account is opened The rate depends on the capital amount and the duration of the term.
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