Vault and Cash Management 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 Vault and Cash Management flashcards as text
When ordering cash from the Federal Reserve, what information must a bank provide?
Answer: The denomination breakdown and total dollar amount required
Banks order cash from the Federal Reserve by specifying the denomination breakdown and total amount needed so the proper currency mix is delivered.
What does 'strapping cash' mean in bank teller operations?
Answer: Bundling currency into standardized packages using ABA-standard currency straps
Strapping cash means bundling bills into standardized packages using ABA-standard currency straps, making large amounts of cash easy to count and handle.
What is the standard number of bills contained in one ABA currency strap?
Answer: 100 bills per strap
The ABA standard is 100 bills per currency strap, allowing tellers to quickly determine the value of a strap by knowing only the denomination.
When a teller's cash drawer runs low during business hours, what is the correct procedure?
Answer: Request additional cash from the vault through proper dual-control channels with documentation
Tellers must request vault cash through proper dual-control procedures and complete all required documentation to maintain an accurate audit trail.
What is 'excess cash' in bank branch operations?
Answer: Cash above the branch's approved working limit that should be sent to the vault or armored carrier
Excess cash is the amount above the branch's approved working limit; it should be transferred to the vault or picked up by an armored carrier to reduce robbery risk.
Which procedure is correct when receiving a cash shipment from an armored carrier?
Answer: Verify and count the shipment under dual control, then fully document the receipt
Cash shipments must be received under dual control, counted immediately to verify the amount, and documented to ensure accountability and catch any discrepancies.
What is the primary function of a 'cash recycler' in a modern bank branch?
Answer: To automatically count, sort, authenticate, and dispense cash, reducing manual handling errors
Cash recyclers automate counting, sorting, authenticating, and dispensing currency, which improves accuracy, reduces manual errors, and speeds up teller transactions.