WHAT’S WRONG? DON’T YOU TRUST ME?
Find the 2 errors
APPROVAL ADVICE
We are pleased to advise that your application has been approved subject to the terms and conditions listed below.
Borrower QUEENSLAND LOUD MUSIC PTY LTD
Guarantor Bruno Peter Horaius Mars
Yes - KYC ID NUMBERS 12345678AB - QUEENSLAND LOAD MUSIC PTY LTD, Bruno Heraius Mars
Horaius and Heraius spelt differently.
Loud and Load spelt differently
Where you are aware the customer has a middle name but there is a discrepancy with customer's middle name not recorded on all the ID provided - either omitted or initialled what should you do?
Ask the customer to confirm their middle name and to provide an additional primary OR secondary identification document to verify these details.
What do we need to confirm is correct on the Disclosure Certificate?
The full name must match the ABN search.
Please type your answer in the chat.
Bob LeBuilder (sole trader)
LEBUILDER B
What type of entity can have a joint venture
Partnership
Find the 4 errors. The 4th error requires you to think outside the box.
Thank you for sending us the aplication for APATEU APATEU PTY LTD.
As the application has been assessed and provisionally approved by a Lending Manager, I am in the process of completing the KYC ID check.
Thank you for the comprehensie list of KYC documents that is alraedy in the file.
Please provide the following information for the KYC process to continue.
Application, comprehensive and already spelt wrong. There is only 3 errors.
A new customer has provided sufficient ID in married name, however a company search/trust deed shows the customer's maiden name, what do we do?
Establish a profile in the customer's married name, provided the customer provides an original or certified copy of a Marriage Certificate issued by a Registry of Births, Deaths and Marriages in an Australian State or Territory.
When do you use a Disclosure Certificate for Partnerships?
When they do not have a formal partnership.
If a tree falls in the forest and nobody is around, does it make a sound? Explain your answer.
Any answer is fine. We’re all just interested to hear your thoughts.
What type of Entity normally has Pty Ltd after its name?
Domestic Private Company
With Domestic Private Companies what are the 3 options to Confirm the Authoriser?
At least two directors; or
At least one director and the company secretary; (being two different individuals) or
At least one director, where there is only a sole director
- If the clients signature differs to their ID or what is on file what should you do?
Ask the customer to re-sign and provide additional identification to further support their signature, and identity if required.
Why is Europe like a frying pan?
Because it has Greece at the bottom.
Please type your answer in the chat.
ABC ABC Pty Ltd as trustee for the Golfers FAMILY TRUST
ABC ABC P/L IOC & ATF
There are 2 monkeys on a tree and one jumps off. Why does the other monkey jump too?
Monkey See monkey do
Customers drivers licence doesn’t verify. Name minimum of 10 documents we can request to verify their name.
Refer to CIGS.
Who owns three cats, name Meredith Grey, Olivia Benson and Benjamin Button?
Taylor Swift
Who can fill out a Disclosure Certificate?
One of the partners or the broker
Please type your answer in the chat.
BRUNO MARS AND ROSE MARS IN THEIR OWN CAPACITY AND AS TRUSTEE FOR THE MUSIC FAMILY TRUST
MARS B & MARS R IOC & ATF
What type of Trust is not regulated by the Government or a regulatory body. This includes Unit Trusts, Family Trusts, Bare Trusts etc.
Domestic Unregulated Trust
What’s Brett’s coffee order? Answer must include the type of milk.
Mocca with full cream milk
A Company Search shows that shares are held non-beneficially but the clients states they are registered incorrectly, what do we need?
Confirmation in writing from the customer's accountant or lawyer as to who owns the shares. We can't insist that the customer amends the record at ASIC, however if the customer indicates they intend to, note that on the customer record
What is a Joint Venture partnership?
Two or more businesses combining their resources to achieve a particular goal.
Please type your answer in the chat.
Piper Pty Ltd as trust for the Pipes Family Trust & Goals Pty Ltd as trustee for the Goal Family trust
PIPER P/L IOC & ATF & GOALS P/L IOC & ATF
How many different Entity types are there
8