Manual Floats
Mastering Manual Floats Quiz
Test your knowledge on manual holds and check processing with our informative quiz! Dive into the details surrounding check holds, regulations, and systems used in financial institutions. This quiz is perfect for anyone looking to enhance their understanding in this critical area of finance.
- 10 challenging multiple choice questions
- Instant feedback on your answers
- Improve your skills in bank operations
What is the purpose of placing a manual hold?
Hold the funds until the hold placed in Encore can take effect
It's there is case you forget to add it in Encore
To place a check on hold for a new membership account or a new account for an existing member before midday
We use the IMMP function before the date has been rolled for Midday.
True
False
Check holds must not be placed in UAD since the hold function in UAD does not release funds in accordance with Regulation CC.
True
False
What screen can you see the holds placed in USD?
Encore
Floats
Research
Holds
In Sessions what function do you type in to add the hold?
IMMP
IM51
IMMP51
52
IM52
IMMP52
IMMP Function
IM51 Function
Checks deposited totaling $1,000 or more placed in Encore will automatically have $225 available the next business day.
True
False
What reg does the Federal Reserve guidelines that govern check holds on items deposited to financial institutions in the United States?
Reg C
Reg CC
Reg D
Reg G
OneView is a backend system used in conjunction with Encore to ensure a seamless hold process is maintained on deposits made to new accounts
True
False
The purpose of floats is to restrict temporary access to funds at the time of deposit
True
False
What is the first thing to post at batch processing?
Credits/Deposits
Fees
POS
Internal Transfers
OOPS
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