Regulatory
True or false. Advisors are required to state the verbiage of "monitored and recorded line" for all outbound calls.
False.
The advisor must only indicate that the line is recorded.
True or false. Advisor may select bypass OTP on the client's behalf without client instruction to skip toward a new authentication item.
Ex: FA skips one time passcode because they assume the client would prefer to provide the debit card information.
False. This action would produce a strike against the authentication process.
(3 strikes results in a failed authentication)
What does J.P in JP Morgan stand for?
John Pierpont
True or false: The advisor is allowed to disclose non-disclosable information with only internal parties such as a branch banker.
True
Is this a complaint or feedback?
"Clear expressions of dissatisfaction and upset at a process, decision, or resolution"
Complaint
In 2022, appx many employees worked at JP Morgan?
A. 210,000
B. 250,000
C. 320,000
D. 440,000
E. 550,000
B. 250,000
All of the following items are non-disclosable except?
A. State of client's residence
B. Month of client's DOB
C. Year of account opening
D. Area code of client's phone number
E. City of client's residence
A. State of client's residence
True or false. The advisor's response is considered tax advice.
Client: "How much can I deduct for the tax year"?
Advisor: "I see you have a realized loss of $2400. Therefore, you can deduct up to this amount and suggest you review other accounts".
What are the big 4 banks in the United States?
JPMorgan Chase, Bank of America, Wells Fargo, and Citibank
What are the 2 action items required for TCPA adherence?
Obtaining client consent to send the OTP
Disclosing that "standard message and data rates apply"
If an advisor makes a call back due to a dropped call, which of the following is required?
A. Disclose the recorded line
B. Obtain the full name of the client
C. Disclose the advisor's full name
D. All of the above
D. All of the above
Which popular play famously showcased the duel between 2 members in relation to founding the Manhattan Bank?
Hamilton
Spot the errors.
FA: Hi Jerry. This is Maria Sandoval from JPM Wealth Management on a monitored line and reported line for all quality and training purposes. Do I have your permission to continue on this line?
Client: Yes
FA: In order to verify your identity, can I send you a one time passcode?
Client: Yes
What is the number I can send the code to?
Client: 8280920829
FA: I have just sent the code. Standard message and data rates also apply. I have your account ending in 5498, the IRA account. Your distribution went through to the Wells Fargo checking ending in 68938.
Did not obtain the full name of the client
Advisor did not disclose the recorded line
Advisor disclosed the "standard message and data rates" after sending the code
Advisor disclosed the last 5 digits of the client's bank account number
How many business days do portfolio managers have trading discretion from the date of the submitted request? (
1-3 business days
The Chase Center is home to what sports team?
Golden State Warriors