Continuing education quiz.

Your Compliance Officer: Friend or Foe?

by Janet Bigham Bernstel

1. For the smoothest relationship with the compliance department, the marketing department needs to:

[] Involve compliance at the campaign's beginning.

[] Maintain a strict adversarial relationship.

[] Push the campaign through on schedule, even if it means bypassing compliance.

2. The marketing department should expect all of the following from compliance department except for:

[] Timely responses.

[] General training on compliance issues.

[] Saying "No" without giving an alternative.

[] Prompt updates on changes in compliance regulations.

Getting the Most From Your CRM by Tanja Lian Sablosky

3. Before you introduce CRM at your bank, you need to:

[] Conduct a customer survey.

[] Have a sales culture in place.

[] Start with a system in the operations area only.

[] Introduce a system in the commercial area only.

4. All of the following are needed for optimal CRM utilization except

[] Involvement by top management.

[] Dedicated staff members with CRM experience to handle implementation.

[] Training and buy-in throughout all departments.

[] Short, enforceable timelines for achieving observable results.

The Taxing Part about 'Free' Gifts by Jennifer McCollough, and Cheryl Riedlinger

5. Free gifts to customers in connection with a deposit of less than $5,000 do not have to be reported to the IRS on Form 1099-INT if the gift is:

[] Cash.

[] Noncash.

[] Noncash and costs less than $10.

[] Noncash and costs more than $10.

6. For IRS purposes, the bank should report the value of the gift based on:

[] What the bank pays for it.

[] The manufacturer's suggested retail price.

[] The item's resale value.

[] The difference between the fair market value and what the bank pays for it.

7. If the bank gives both cash and a noncash gift, and neither one by itself qualifies for IRS reporting, bank must report:

[] The cash gift, but not the noncash one.

[] The noncash gift, but not the cash one.

[] Both if, when combined, they exceed the reporting threshold

[] Neither one.

'Tis the Season

by Jim Monteleone

8. The period of least opportunity for marketing credit products is

[] January to February

[] May to June

[] September to October.

[] November to December.

9. The most successful credit products in the post-holiday season are typically

[] Credit cards with market interest rates.

[] Home equity lines of credit with market interest rates.

[] Either one of the products above.

[] Credit cards and home equity lines of credit with low introductory rates

10. If you want to offer a "skip-a-payment" to existing loan customers, the best time to do it is:

[] January to February.

[] May to June.

[] September to October.

[] November to December.