Trust - PLCs
Which two states require a notarized COT?
California & Michigan
What SEC rule states that a broker-dealer cannot extend credit to various classes of newly purchased securities? Specifically any type of mutual fund instrument (the two big one’s being Mutual Funds and Money Market Funds).
SEC Rule 11(d)
After opening a ticket in LOS.. what is the first application you should use to update the clients CRU and coverage information? (Must be the correct name of the application)
Party Central
What row do you go to in the GAUSS Peak Exposure Grid to calculate the additional exposure for a term loan?
274
What is the exact target date for our return back to the NCC building?
November 17th
ABC Trust was created on October 15th, 2016, and signed by Trustee Augie Flurry on January 30th, 2017. When will a new COT be required?
January 2024 (7 years after the COT was signed)
Ollie Flowers has $5MM of Allocated Gold bars held in a Canadian Vault. Assuming a Security Agreement is signed, what dollar lending value will the gold receive?
$0, HAS to be held in a JPM vault in NY, Singapore, or London
What are the two Assessments that need to be completed in iCRD specific to Term Loans?
FDIC & Pathfinder
The Mark Theopolis School District Foundation has a $2MM Line of Credit at standard pricing and is fully backed by treasuries and equities.
Which of the following LOBs is able to hold this facility?
- SBL
- Custom Lending
- Commercial Banking
- Foundations & Charity Lending
Custom Lending
What is the technical term used by the security guards to describe when two people go through the security gate at the same time in attempt to circumvent the system?
Piggybacking
What additional form is required for JPM Managed Trusts that takes place of a COT and who is responsible for executing it?
Pledge Approval Form; Trust Officer
What Lending Value does a CMAP managed account typically receive under PLC and SBL?
~84% for both
What application do we use to check if a Hedge Fund position is held in nominee or held in the clients name?
Alternatives PIG (in Connect)
Jerry Sattleman has a $1MM Letter of Credit priced at 2.65% with a final expiry date of 12/31/2028. How much interest does Jerry owe for 18 days?
(1MM * 2.65%) / 360 = $73.61 per day
($73.61 * 18) = $1,324.98
How many handicap parking spots are there at 600 White Clay?
10
Name 5 of the 10 states that don't require Spousal Consent?
NY, TX, CT, OH, NH, SC, GA, WY, UT, CO
Which of the below is NOT a type of Thematic Account?
- Emerging Asia Opportunities (EAO)
- Japan Active Growth (JAG)
- Select Energy Opportunities (SEO)
- Environmental Preservation Opportunities (EPO)
Environmental Preservation Opportunities (EPO)
Where can you check if a CD has Auto-roll enabled?
Customer Assist
Alexandria Lather, who is a close associate to Lucy Leader (a former U.S. Senator for the state of Nebraska), is requesting to have a fully standardized line of credit set up. What approval level is required?
Normal credit authority only.
_____________________________________
1. Current Covered U.S. Government Officials and Close Associates
- Primary Credit Officer + GPL + GRPP
2. Former Covered U.S. Government Officials and Close Associates - Normal credit authority only
3. Current Covered non-U.S. Government Officials and Close Associates
-Primary Credit Officer
4. Former non-U.S. Government Officials and Close Associates
- Normal credit authority only
What date did Sayantan move into his new house?
August 18th
What is the Reg Z minimum draw requirement for the following states: Oklahoma, Colorado, Maine, Mississippi, South Dakota
Oklahoma - $68k
Colorado - $80k
Maine - $105k
Mississippi - $68k
South Dakota - $68k
Martha Stewart has the below assets in their portfolio. How much PLC Lending Value does this account receive?
Microsoft Stock - $1MM
Seasoned MMF - $10MM
HLEND - $500k
Notice Deposit - $1.5MM
$1000 Par Preferred - $2.5MM
$25 Par Preferred - $2MM
$11.30MM
Microsoft Stock - $1MM (50%)
Seasoned MMF - $10MM (98%)
HLEND - $500k (0%)
Notice Deposit - $1.5MM (0%)
$1000 Par Preferred - $2.5MM (0%)
$25 Par Preferred - $2MM (50%)
In iCRD... what product type is used when setting up a PLC Flex?
Facility Type –“01 Committed Revolver Long Term”
Patricia Bushwell has a Multi-Currency PLC and drew EUR 500,000. What is the short-term rate that will be used to calculate interest instead of SOFR (the USD rate)?
ESTR
How many Chick-Fil-A sauce packets are in my drawer? (closest guess wins) *you can go over
42