Question

The person granting another person to act on their behalf using a power of attorney is called a _______________.
A.) Potentate
B.) Premier
C.) Principal
D.) Agent
E.) None of the above
Answer
The USA PATRIOT Act screen requires associates to enter the physical address of issuance and expiration date for Group A IDs.
TRUE
FALSE
Answer
Which of the following are requirements for a valid power of attorney to be accepted and used in conjunction with the offering of financial products in an H&R Block office?
A.) The Power of Attorney must include the name of the Principal and Agent.
B.) Proper identification must be obtained for the Principal and Agent.
C.) Both the Principal and Agent must be the legal age of majority.
D.) The Power of Attorney must meet the requirements of state law where written.
E.) The Power of Attorney must provide explicit powers to open a bank account as well as apply for credit.
F.) All of the above.
Answer
The _____________ and ______________ provide specific guidelines regarding minimum identification requirements for clients who complete applications for financial products.
A.) Bank Secrecy Act & USA PATRIOT Act
B.) False Identity Act & Banking Identity Act
C.) Citizen Identification Act & Federal Terrorism Act
D.) Truth in Lending Act & Truth in Savings Act
E.) None of the above
Answer
This is Jorge & Paula Ramirez. They are new in-office clients to H&R Block for tax preparation. Jorge has his US passport. Paula has her Mexican Matricula card and ITIN letter. They will have a refund and will want a Federal and State Refund Transfer loaded to an Emerald Card to pay for their fees. Do Jorge and Paula have sufficient identification to comply with regulations?
Jorge does; Paula does not.
Jorge does not; Paula does.
Both Jorge and Paula's documents are sufficient to meet identity requirements.
None of the above.
Answer
The revealed audit focuses on three areas of compliance: signage/marketing, client information safeguarding, and Emerald Card safeguarding.
TRUE
FALSE
Answered by GPT-4o mini
C.) Principal
Answered by GPT-4o mini
TRUE
Answered by GPT-4o mini
F.) All of the above.
Answered by GPT-4o mini
A.) Bank Secrecy Act & USA PATRIOT Act
Answered by GPT-4o mini
Jorge does; Paula does not.
Answered by GPT-4o mini
TRUE