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CSR Crash Course Flashcards

Learn Client Service Rep fundamental role.

1
Q

Cash out

A

Cash the client leaves with

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2
Q

Cash in

A

total amount + currency exchange

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3
Q

Beneficiary

A

Entity that benefits from the funds of the transaction

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4
Q

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

A

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

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5
Q

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

A

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

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6
Q

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

A

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.

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7
Q

Workplace Violence

A

Call 911
Call SOACC
IEI (Internal Enterprise Investigations)

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8
Q

Client treatment skills

A 
Hear
Empathize
Apologize
Take ownership
Document
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9
Q

Workplace harassment or threat

A

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

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10
Q

Active Shooter

A

Run, Hide, Fight

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11
Q

ADA (American Disabilities Act) Compliance

A

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

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12
Q

ADA Title III key components

A

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

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13
Q

Service Animals

A

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

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14
Q

3 Core CSR Responsibilties

A
  1. Client Care
  2. CSR Client engagement
  3. Processing accurate and error free transactions
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15
Q

EFT

A

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

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16
Q

BSA

A

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

17
Q

CTR

A

Cash transaction report

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

18
Q

Expedited funds availability act

A

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

19
Q

Check 21 Act

A

Expedites electronic check clearing

Allows check images to be sent electronically

20
Q

Truth in Savings Act (Regulation DD)

A

Enables consumers to compare deposit accounts at different financial institutions.

21
Q

RSNIP (Retail sales of non-deposit investment products)

A

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

22
Q

MICR

A

Magnetic Ink character recognition

Reads checks and deposit slips

23
Q

Validator

A

Prints receipts

Validates checks

24
Q

QST

A

Quick Service Terminal

Pulls up client account using debit or credit and PIN

25
Q

How to be a client advocate (4 steps)

A
  1. Take ownership
  2. Act with empathy
  3. Make it easy
  4. Get it right (set expectations)
26
Q

6 Basic Client financial requirements

A
  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
27
Q

Bank reserves

A

Set amount of money held by a bank

28
Q

Interest

A

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

29
Q

Compounding interest

A

Initial principal amount + Accumulated interest earned in prior periods

30
Q

Banks make money in 4 ways

A
  1. Interest on loans
  2. Fees and service charges
  3. Investments
  4. Other business units
31
Q

3 basic banking functions

A 
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
32
Q

4 types of common deposit accounts

A
  1. Checking
  2. Savings
  3. CDs
  4. IRAs
33
Q

Banks typically use average daily balance to calculate interest rates

A

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

34
Q

Banks pay interest on savings using

A
  1. Fixed or flat rate interest
  2. Tiered interest
  3. Blended interest
35
Q

CD (Certificate of Deposits)

A 
Specified time period 
Specific interest rate
Can require min/max deposits
FDIC insured 
Penalty if principal is withdrawn
Higher yield than other savings
36
Q

IRAs

A

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

37
Q

4 types of IRA

A

SEP-IRA
CESA
Roth IRA
Traditional IRA

CSR crash course (1 decks)

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