Reg CC Training
Reg CC Holds Training Quiz
Test your knowledge of Reg CC and its impact on customer transactions! This quiz will help you understand the different types of holds and the procedures involved in managing them.
- 10 multiple choice questions
- Assess your understanding of Reg CC regulations
- Improve your compliance knowledge
What's the purpose of Reg CC Holds?
To prevent customers from using their funds.
To hold the funds on deposit for the bank so it will gain income from the funds on hold.
To ensure that funds clear the paying bank. Reducing the potential of the customer owing the bank money on a bounced or fraudulent check.
Types of holds that can be placed:
Case by Case, New Account, Large Item & Exception
Case by Case & Exception
Repeated Overdrafts
New Account
How many overdrafts under $5,525 does an account need to have to qualify for a Repeated Overdraft Exception Hold?
4 times in 6 months
5 times in 3 months
6 times in 6 months
12 times in 1 month
What is the maximum amount of days to hold a check on a New Account Case by Case basis?
9
7
11
5
Are mobile deposit holds included in Reg CC Holds?
No, they have their own guidelines.
Yes, they are on page 2 of the hold guidelines.
Do you place a hold for the hold amounts in the system once the hold form is completed?
No, scan the form to Ops and they complete the holds.
Yes, complete one hold for the entire amount.
Yes, complete holds for each amount held.
No, your manager will place the holds.
Do you get incentive for each Reg CC hold you place on the system?
Duh, that's why they put so many holds on in town.
Yes, you'll see them on your Feb 30th paycheck.
No
What do you need to review when placing a Reg CC hold?
Previous holds on the account.
Call another branch to fax over old hold copies.
Reg CC Hold Guidelines
Nothing, just hold everything for 11 days.
What days are not counted when calculating a hold?
Vacation days
Weather closures
Holidays and Weekends
What is the first day counted when calculating the hold?
The next business day?
The day of deposit?
The first Monday after the day of deposit.
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