1, Associates are permitted to develop their own marketing materials pertaining to bank products.
TRUE
XXFALSE
2, The Truth in Lending Act requires lenders to disclose the following features about credit terms and costs:
Credit limit
Annual fee
Annual Percentage Rate (APR)
XXAll of the above
3, H&R Block Bank monitors the rates of “flip to paper” returns at the associate, office, district, and regional levels for those offices enrolled in e-Signature to ensure compliance.
XXTRUE
FALSE
4,The Truth in Lending Act requires lenders to make standardized statements about:
How they choose to issue credit
XXHow much the fees and charges are for credit products
Who they will share the customer information with
How long they will keep the customer information
5,Emerald Cards must be stored in cabinets that are LOCKED!
XXTRUE
FALSE
6,Computers, fax machines, and printers that are no longer to be used must be disposed of in accordance with established H&R Block policies.
XXTRUE
FALSE
7,Which law requires that the name and physical address of a person opening a financial account be collected by the institution opening the account?
Gramm-Leach-Bliley Act
Equal Credit Opportunity Act
XXUSA PATRIOT Act
Fair Debt Collections Practices Act
8,When a return “flips to paper,” you must use the ALL CLIENTS and RAC booklets to execute documents.
XXTRUE
FALSE
9,Associates providing false or misleading information on the bank agency completion pop-up screen in tax software may be subject to disciplinary action.
XXTRUE
FALSE
10,Rapid Refund is a prohibited term to use in marketing any H&R Block Bank product.
XXTRUE
FALSE
11,Only use a Power of Attorney to obtain a bank product when both the Principal and Attorney-in- Fact or Agent are named on the tax return and the tax return is married filing jointly (MFJ).
XXTRUE
FALSE
12,The USA PATRIOT Act requires specific information from people wishing to open financial accounts. The required information is:
XXName, date of birth, physical address, and taxpayer ID number
Name, date of birth, marital status, place of birth
Name, mailing address, current age
Name, parents’ names, date of birth, place of birth
13, Client files must be maintained in:
Lockable cabinets
Lockable rooms
Cardboard boxes in common areas
XXBoth A and B are acceptable
14,Do not make copies of a client’s driver’s license or social security card for purposes of identification.
XXTRUE
FALSE
15, You may have multiple open boxes of Emerald Cards in an office at one time dispersed to each tax desk.
TRUE
XXFALSE
16,The three ways that H&R Block Bank audits field compliance with regulations are:
XXRevealed Audits, Mystery Shops, and Full Audits
Client Surveys, Revealed Audits, and Associate Interviews
Revealed Audits, Full Audits, and Telephone Surveys
None of the above
17,Every tax client must receive an H&R Block Privacy Notice when they arrive in the office.
XXTRUE
FALSE
18,A power of attorney (POA) is an instrument whereby one person authorizes another person to act as his/her attorney-in-fact or agent.
XXTRUE
FALSE
19,You may donate or recycle electronic equipment containing client information.
TRUE
XXFALSE
20, All client information not required to be retained should be destroyed using an approved method of destruction.
XXTRUE
FALSE
21, Emerald Card box log sheets must be completed and retained for a period of:
Six months
Two years
XXFive years
Not necessary to retain
22, A fraud scheme known as phishing is:
Where thieves go through discarded garbage to find client information
XXWhere unauthorized individuals attempt to obtain personal information through text messages, e-mails, and phone calls
Where thieves enter your office and pretend to be service providers
None of the above
23, Offices may use old signage and marketing materials for bank products if they are still in good condition.
TRUE
XXFALSE
24, Agency is a legal relationship in which the principal directs and controls the conduct of the agent for a specific purpose.
XXTRUE
FALSE
25, During a revealed audit, reviewers visit offices unannounced and spend approximately 30 minutes inspecting the premises.
XXTRUE
FALSE
26, The laws that must be followed while processing bank product applications include, but are not limited to:
Gramm – Leach – Bliley Act
Truth in Lending Act
Bank Secrecy Act
XXAll of the above
27, Associate Agent responsibilities include which of the following:
Verifying the client’s identity
Providing product disclosures to clients
Training, tracking, & certification of associates
XXBoth A and B
28, Acceptable methods of document destruction are:
Defenestration, atomization, and ionization
XXIncineration, shredding, and acid bath
Disposal in bags in the dumpster behind the office
Exhumation, shredding, and chelation
29, Which of the following customer activities would be considered “suspicious,” and reported to management and/or Incident Management?
Identification documents that are expired or appear fraudulent.
Customer’s source of income is questionable or income is known to be acquired illegally.
Information provided by the customer is inconsistent.
XXAll of the above.
30, Emerald Card inventory log sheets should be:
Left blank in the box of cards.
Disposed of via an approved method of destruction once cards are issued.
XXCompleted as cards are issued from the box and retained per retention policy.
There is no log sheet enclosed in the box of cards.
31, When a “flip to paper” return is completed, you should maintain the signed pages marked “HRB Copy” in your office files per the document retention policy.
XXTRUE
FALSE
32, Checks will be printed from centralized facilities for TS14.
XXTRUE
FALSE
33, To comply with the Equal Credit Opportunity Act of 1974, associates should:
Ask only questions specific to completing the application.
Process the application while NOT adding personal observations or advice.
Review the disclosures, application, and documents with clients.
XXAll of the above.
34, It is acceptable for Bank Agents to process their own applications for bank products.
True, under some circumstances.
True, it is always acceptable.
True, if the associate gets a manager’s okay.
XXFalse, it is never acceptable.
35, Associates may use their personal e-mail accounts to conduct H&R Block business.
TRUE
XXFALSE
36, The Gramm-Leach-Bliley Act requires financial institutions to tell consumers how:
They will apply demographic data such as race, age, religion in determining credit decisions
They assess fees, annual percentage rates, and charges on credit accounts
XXData collected about them is used, shared, and protected
They will determine the amount of credit that an applicant will qualify for
37, If you suspect suspicious activity, notify your Client Service Leader, Franchisee, or District Manager, who will contact the Incident Management Hotline: 1-866-886-4472.
XXTRUE
FALSE
38, Any documents that are waiting to be destroyed should be stored in a locked cabinet or storage room at all times.
XXTRUE
FALSE
39, If tax software indicates that you need to convert to a paper-based document execution method, (Flip to Paper) you should:
Ignore the message and continue the return via e-Signature
Continue through the software and not complete the written documents
XXGo and retrieve the PHYSICAL SIGNATURE DOCUMENTS pre-printed ALL CLIENTS and RAC booklets
None of the above
40, Which of the following is not required for an associate to comply with the Bank Secrecy/USA PATRIOT Acts?
Verifying the identity of people seeking to open an account.
Inputting client data into tax software systems as requested.
XXTaking photographs and fingerprints of each client.
Reporting suspicious behavior to your District Manager.
41, Social Engineering is when a person with malicious intent attempts to convince a person to break normal security procedures.
XXTRUE
FALSE
42, It is acceptable for the associate to inject their opinion and decide for clients which products are appropriate.
TRUE
XXFALSE
43, The Equal Credit Opportunity Act prohibits discrimination in the offering of credit based on which of the following factors?
Marital status
Race
Religion
XXAll of the above
44, MasterCard® may, at its discretion, assess fines from ______ to _____ per month for PCI compliance violations:
$1 to $1,000
$50 to $5,000
$500 to $10,000
XX$5,000 to $100,000