Finance Quiz: How much do you know about CDs?

1) How many times can you raise the rate of a Raise your Rate 2 year CD?

2) What are the required account information pieces that must be supplied to a customer opening an 11M NPCD?

3) A customer does not need to close their CD in order to withdrawal funds outside of maturity as long as they pay the EWP

4) What kind of CD is a limited time special that Ally promotes to customers?

5) When is the loyalty reward offered?

6) When can a No Penalty CD be closed?

7) When a customer is renewing their CD and they are changing the term AND adding or removing funds what do you need to inform them of?

8) Does the 10 day grace period apply to new CD's?

9) What are the customer options if they just opened their CD yesterday and funded it, and they want to change the term now?

10) What is a CD ladder?

11) Customers may change their interest disbursement options when?

12) For the current 8M Select CD, what term will that auto-renew into?

13) How is a one time Interest Disbursement is processed?

14) What form will you instruct the customer to fill out in order to complete a transfer from a Traditional IRA SAV to a Traditional IRA CD that are in different plans?

15) What do you do if a customer wants to change their IRA CD Term during the 10 day grace period?

16) How long do you have to fund a non IRA CD before it automatically closes?