Suspense Quiz

1.

1 point

It's December and the policy needs to be active before year end! You open the work item and see that it's a DRT item with premium. What are your next steps?

Call the contact for verification

Activate the policy by adding the premium.

Send the Work Item to the DRT queue

Send an email to the contact for verification

2.

1 point

Initial premium is received! But...the client is short $2.25 for the full premium amount. Do you ask for the remaining premium in order to place the policy?

No - The company will pay the remaining balance (up to $5) to activate.

No - The company will cover up to $10 in order to activate the policy.

Yes - The company will pay up to $2 to activate, so this needs to be paid by the client.

Yes - They must send us the full amount of premium

3.

1 point

If money comes in after 1st Review, which Activity must be chosen in order to add the money to the policy?

Suspense Allocation Change

Accounting Adjustment

Suspense Add

Miscellaneous Income

4.

1 point

Which of the following is not accepted when submitting initial premium for a policy?

EFT-Void Check/Credit Card

Wire/Money Order

"Live" Check

Cash

5.

1 point

If money was originally applied to the policy via EFT, and the policy is being re-issued, does the Case Manager need to re-apply the money if it drops off?

No - it's the Suspense team's responsibility to add the money

Yes - it's the CM's responsibility to re-add the money

6.

1 point

What item(s) would deem the TIR NIGO?

A "Yes" answer

Missing Signature

The indicated amount differs from the actual amount received

All of the above

7.

1 point

If a TIR conditions are not met, or a TIR is expired, the money must be refunded. Which Activity is used to process this transaction?

Policy Suspense Refund

Void Stop Pay Request

Disbursement Recovery

Non Policy Reimbursement

8.

1 point

You open a Declined Work Item with money attached, and you need approval for your refund. What is your next step?

Send the Work Item to the Disbursements queue

Verify the payee information on the check/in the system and email your Supervisor for refund approval

Send an email to your Supervisor for refund approval

Process a Policy Suspense Refund Activity

9.

1 point

The policy is being re-issued and the CC was originally charged. The CC approval is still there, but there is no Suspense Add activity showing. Do you need to process a Suspense Add?

No - If the Suspense Add was processed once, it doesn't need to be again

Yes - The Suspense Add must be done to show the money has been added in AdminServer.

10.

1 point

A CM Action is received! The Call Center representative added notes advising the client gave permission to draft. What are your next steps?

Email the contact for verification

Call the contact for verification

Research the account information and draft

Add notes for the DRT associate to draft