Free practice test

New Accounts Clerk Practice Test

Check what you know about the new accounts clerk job with 15 free questions and instant explanations.

Updated By the Career Education Institute Curriculum Team
About this practice test

15 multiple-choice questions on new accounts clerk knowledge, safety and vocabulary. Submit to see your score and explanations, or open any question’s answer as you go. Nothing is saved or shared.

Question 1 of 15APY stands for:
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Answer: Annual percentage yield. Rate.

Question 2 of 15CIP requires:
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Answer: Identity verification. ID.

Question 3 of 15POD means:
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Answer: Payable on death. Beneficiary.

Question 4 of 15FDIC insurance:
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Answer: Protects deposits. Protection.

Question 5 of 15Beneficial owners own:
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Answer: 25 percent or more. Threshold.

Question 6 of 15Which term matches this definition: “Account history database.”
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Answer: ChexSystems. ChexSystems: Account history database.

Question 7 of 15What does “Beneficial owner” mean?
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Answer: Person who owns a business.. Beneficial owner: Person who owns a business.

Question 8 of 15Which term matches this definition: “Account for everyday spending.”
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Answer: Checking account. Checking account: Account for everyday spending.

Question 9 of 15What does “FDIC insurance” mean?
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Answer: Deposit protection.. FDIC insurance: Deposit protection.

Question 10 of 15Which term matches this definition: “Certificate of deposit.”
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Answer: CD. CD: Certificate of deposit.

Question 11 of 15What does “KYC” mean?
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Answer: Know your customer.. KYC: Know your customer.

Question 12 of 15Which term matches this definition: “Account that earns interest.”
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Answer: Savings account. Savings account: Account that earns interest.

Question 13 of 15What does “Business account” mean?
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Answer: Account for a company.. Business account: Account for a company.

Question 14 of 15Which term matches this definition: “Annual percentage yield.”
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Answer: APY. APY: Annual percentage yield.

Question 15 of 15What does “Joint account” mean?
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Answer: Shared account.. Joint account: Shared account.

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