What is it? Accounts | Baamboozle - Baamboozle | The Most Fun Classroom Games!

English 15 Public

Personal Accounts

Study Slideshow

Who handles the frozen assets in a JWOROS account?

Estate Management

15

What roles are assigned for the Joint on a JWOROS account?

Non-Tax Signator, Non-Tax Owner, Joint without Rights of Survivorship

25

What cannot be added to a JWROS account?

No limitations

15

True or False: In a JWROS account the TRO and joints are NOT equal owners.

False

10

What does POD stand for?

Payable on Death

10

True or False: A beneficiary can conduct any transaction on the POD account styled account.

False

10

What report is required on a POD styled account for the beneficiary?

OFAC

25

Why would someone have a convenience signer on their account?

A convenience signer assists account owners with the handling of financial affairs, such as account management, deposits, withdrawals, inquiries (statement copi

20

What report(s) are required for a Convenience Signer?

OFAC, Instant ID, ChexSystems

25

At what age is a person considered a Minor at RBFCU?

Anyone 17 years and younger

15

What products cannot be added to a Minor Account?

MemberSafe, Loans, Bill Pay, Courtesy Pay

25

What two additional documents are needed for a Foreign National Account?

FTIN & W-8BEN

25

True or False: If a foreign national is on a joint account they must be the TRO.

False. They must be the joint.

5

What is a Non-Interest Bearing account?

A non-interest bearing account does not earn interest per the member’s request.

15

RBFCU does not advertise JWOROS and Non-Interest Bearing accounts.

TRUE

10