Practice Test GeeksCBT - Certified Bank Teller Practice Test
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Financial Products & Services Flashcards

7 cards from real CBT practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Financial Products & Services flashcards as text

  1. A customer asks how a cashier's check differs from a certified check. Which statement is correct?

    Answer: A cashier's check is drawn on the bank's own funds, while a certified check is the customer's check guaranteed by the bank

    A cashier's check is the bank's own obligation, while a certified check is the customer's personal check that the bank has guaranteed by setting the funds aside.

  2. A customer wants a deposit product that earns a higher fixed rate in exchange for leaving funds untouched for 18 months. Which product fits best?

    Answer: Certificate of deposit

    A certificate of deposit pays a fixed rate for a set term and usually charges a penalty for early withdrawal.

  3. Which of the following products sold in a bank lobby is NOT covered by FDIC deposit insurance?

    Answer: Money market mutual fund

    Money market mutual funds are investment products and are not FDIC insured, unlike money market deposit accounts.

  4. A customer has a $200,000 individual savings account and a $150,000 individual CD at the same insured bank. How much of the total is FDIC insured?

    Answer: $250,000

    Accounts in the same ownership category at the same bank are added together and insured up to $250,000 total.

  5. Which federal regulation requires banks to disclose the Annual Percentage Yield (APY) on deposit accounts?

    Answer: Regulation DD (Truth in Savings)

    Regulation DD implements the Truth in Savings Act and requires uniform APY disclosure on deposit accounts.

  6. A homeowner wants a revolving line of credit secured by the equity in their house. What product should the teller refer them to?

    Answer: Home equity line of credit (HELOC)

    A HELOC is a revolving credit line secured by the borrower's home equity.

  7. A customer wants funds in their checking account to automatically cover overdrafts by pulling from their savings account. Which service does this describe?

    Answer: Overdraft transfer (overdraft protection) link

    An overdraft protection transfer moves money from a linked savings account to cover checking shortfalls.