Savings Bonds Quiz

Savings bonds are exempt from state and local taxes (except for estate or inheritance taxes).

• True

• False

Interest earnings are subject to Fed income tax.

• True

• False

Savings bonds are sold by the government and earned interest up until they are cashed.

• True

• False

What are all of the things you are supposed to check on the FRONT of a bond?

• Owner of the bond

• Co-owner or beneficiary

• Address

• Issue Date

• SSN

What are the three things tellers supposed to write on the front of the bond?

• Total Amount Paid

• Teller Number

• Client's ID method

• First initial, last name

• Interest Earned

Can we cash bonds for non-clients?

• Yes

• No

Non-client bond redemption limit is a $1,000 max, including interest per transaction/day.

• True

• False

What is the name of the email group we FWD completed bond paper to?

Bonds payable to a TRT must be redeemed in the name of the trustee.

• True

• False

Clients can cash paper bonds of Series A, B, C, D, E/EE, and I.

• True

• False