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Business Account Types and Related Documentation

Total questions: 12

Worksheet time: 6mins

Name
Class
Date
1.

What is the Registration called when an LLC files with the SOS?

a)

Articles of Incorporation

b)

Tradename

c)

Articles of Organization

d)

Statement of Partnership

2.

How much NCUA coverage does a business account receive?

a)

$100,000

b)

$350,000

c)

$250,000

d)

$50,000

3.

Which of these Businesses would be considered ineligible?

a)

Business who operates an ATM

b)

Business who sells furniture

c)

Manufacturing company

d)

An apartment complex

4.

which of the following can make a business eligible?

a)

The business owner is friends with a current member

b)

None of the owners are personally eligibile

c)

You like them

d)

The business is located within our field of membership

5.

How many free transactions does the Dividend Choice Checking have?

a)

300

b)

400

c)

200

d)

150

6.

Which of the following businesses are required to register with the SOS?

a)

Sole Proprietor

b)

Organization

c)

Corporation

d)

General Partnership

7.

What is an EIN number?

a)

Used to identity an individual

b)

Used to identify a Business

c)

WPCU Member Number

d)

Members phone number

8.

Which of the following businesses are required to have an EIN number?

a)

An Individual - Consumer Member

b)

Sole Proprietor

c)

Single Owner LLC

d)

Partnership

9.

How long do I have to collect specific documents after account opening?

a)

7 Days

b)

10 Days

c)

30 Days

d)

2 Days

10.

What is the agreement called that an LLC would create?

a)

Bylaws

b)

Operating Agreement

c)

Partnership Agreement

d)

Vendors License

11.

What are the "owners" of a Corporation referred to?

a)

Members

b)

Sole Proprietor

c)

Partner

d)

Officers

12.

What type of document does a partnership create?

a)

Drivers License

b)

Partnership Agreement

c)

Operating Agreement

d)

Charter