Transfer
Case Requirements
Process (Model)
Annuities
100

What is a supporting document you can provide to make an ACAT Transfer Easier?

  • Nothing
  • A screenshot with just the balance
  • A detailed Statement showing the full account number Along with Symbols and tickers
  • A handwritten balance of what is in the account
  • A detailed Statement showing the full account number Along with Symbols and tickers
100

What Certificate needs to be uploaded in the case to open a Trust?

  •  A driver’s License
  • A list of the beneficiaries
  • A NON- memorandum of trust
  • A Certification of Trust legal document that can be used to certify both the existence of a Trust, as well as to prove a Trustee's legal authority to act

A Certification of Trust legal document that can be used to certify both the existence of a Trust, as well as to prove a Trustee's legal authority to act

100

What 2 forms Are needs to be signed to update a Model and Fee rate?

  • 1035- Exchange form & IAA (Investment Advisory Agreement)
  • PTE 2020-02 & PTE 84-24
  • IPS (Investment Policy Statement) & PTE 2020-02
  • IPS (Investment Policy Statement) & IAA (Investment Advisory Agreement)

IPS (Investment Policy Statement) & IAA (Investment Advisory Agreement)

100

When do Signed PDRs have to be assigned to Dawn in payroll to be processed on the following pay period?

  • Mondays the week of payroll at 9am
  • Fridays at 12pm on NON payroll week
  • Fridays on pay week at 12am
  • Thursday at 12pm

Fridays at 12pm on NON payroll week

200

What does ACAT Stand for?

  • Account Customer accounting Transfer
  • Automated Computer Account Transfer
  • Automated Consumer account Transfer
  • Automated Customer Account Transfer

Automated Customer Account Transfer

200

What document is needed to open an Inherited IRA?

  • Birth Certificate
  • Copy of the decedent's Driver’s License
  • Nothing needed
  • Copy of the decedent's Death Certificate

Copy of the decedent's Death Certificate

200

Which of the following Models DO NOT have a minimum?

  • Apex 15 40/60 Strategy
  • Core Balanced
  • Low Vol . & Income
  • Defensive Moat 40/60

Core Balanced

200

True or False Suitability updates should all be made by the CS Team or New Business processor?

False 

300

 What account type will require a phone call to be made to the financial instruction when it’s being moved?

  • Annuities
  • Traditional IRA Held at Edward Jones
  • 401K
  • UTMA

401K

300

What is the cost basis/unrealized losses requirements for clients to be approved for Tax Loss Harvesting?

  • $100k in losses and/or $25k taxable liability
  • $200k in losses and/or $35k taxable liability
  • $100k in losses and/or $55k taxable liability
  • $200k in losses and/or $15k taxable liability

 $100k in losses and/or $25k taxable liability

300

What is the Minimum amount needed to Invest in Fixed Income - Capital Preservation?

  • $10K
  • $20K
  • $1K
  • $100K

$10K

300

 A PTE 84-24 should be signed and attached with the new business case on what type of Annuity?

  • NQ Fixed Annuity
  • NQ Variable Annuity
  • Q annuities
  • Life Insurance policy

Q annuities

400

True or False? 

An explanation of the Special Tax Notice is required when doing any money movement from a traditional account?

False 

400

What is the process for bringing over a security that a client doesn’t want to sell and keep as an RSA?

  • No Approval needed
  • Put a restriction for that Security on the account
  • Obtain approval from the Investment Team and open an RSA ONLY account for the security to be settled in.
  • The clients described what they keep when moving accounts over

Obtain approval from the Investment Team and open an RSA ONLY account for the security to be settled in.

400

What of the following Portfolios must have a Minimum of $75,000 to be invested?

  • Expanding Moat 80/20
  • MLG Dividend Fund VI
  • Defensive Moat 60/40
  • Core Conservative

Defensive Moat 60/40

400

WHEN & WHERE in Salesforce can you see if the Annuity commission is being processed on the next payroll?

  • Thursday End of day & Salesforce History Page
  • Friday End of Business & Under Effective Date
  • Friday at Noon & Policy Received
  • Wednesdays At noon & Salesforce History Page


Friday End of Business & Under Effective Date

500

When is a wet signed Transfer Of Assets form needed?

  • When an ACAT Request has been submitted
  • When a roll over call is being done
  • On Any Non- ACAT Transfer
  • Moving Money out of the account

On Any Non- ACAT Transfer

500

What do you choose as your transfer option on a Surrendered annuity moving in to AUM?

  • Full Transfer
  • Partial Transfer
  • INS Full Transfer
  • Ins Partial Transfer  

 

INS Full Transfer

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