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What is the primary purpose of a Person Number in a credit union system?

• To identify a person’s tax status
• To assign access to online banking
• To uniquely identify an individual in the system
• To track the member's credit score

Which number represents a person’s official relationship with the credit union?

• Person Number
• Member Number
• Account Number
• Organization Number

Which number is assigned only when an individual or business becomes a formal member?

• Tax ID

• Person Number

• Member Number
  

• Account Number

What is the primary reason credit unions collect and verify a member’s full name, date of birth, address, and identification number during account opening?

• To customize marketing emails
• To calculate interest rates
• To comply with the Customer Identification Program (CIP)
• To enroll the member in online banking

What number uniquely identifies a business in the core banking system?

• Employer Number
• Person Number
• Business ID
• Org Number

Which number is assigned only when an individual or business becomes a formal member?

• Tax ID
• Person Number
• Member Number
• Account Number

who is assigned a Person Number when tied to a business account?

• The IRS representative
• The Agent authorized to operate the account
• The Organization itself
• The co-owner of the business

What role does an Agent typically hold in a business account?

• Tax Reported Owner
• tax Reported For
• Non-Tax Owner
• Non-Tax Signator

Why is the Agent not given a Non-Tax Owner role in a business account?

• The Agent is responsible for tax reporting
• The Agent does not own the account funds
• The Agent is only a temporary user
• The Agent is an external auditor

Which role is NOT typically assigned to the primary applicant on an account?

• TRO – Tax Reported Owner
• TRF – Tax Reported For
• TRS – Tax Reported Signator
• NTS – Non-Tax Signator