FORMS
Form 1000
In SIS an account is showing as "NMB-ACATS"- How do you code this in debit mgmt?
Reminder Only- ACAT/NSCC Fee
You pull a journal for a trust account going into a same name trust account but with different trustees. The branch included an eligibility override. Can you approve?
No- the trustees must be the same on both accounts.
Which department handles tax lots?
Cost Basis Reporting
TRUE/FALSE- You can do a prepay on retail and IRA accounts
FALSE
Are we able to move fractional shares of stock?
No- Unless the stock is in DRV status
How many weeks do the FA/Branch get to cover an AMS fee?
You are processing a full balance transfer from an IRA with no market value. How much cash must be left in the account?
$175
What form is used to lift a rollover hold, and who processes that form?
Form 1236, Retirement Plan Services
TRUE/FALSE - You can trade with funds in UNAPP CASH hold
TRUE
What form number do we use for a freeform LOA?
6040
How many days does the FA/Branch get to cover an ACAT fee?
45
What percentage of a full liquidation of mutual fund can we send out for an ACH?
90%, unless its a money market mutual fund
A branch calls in and wants to update the effective date of an ACH in Money Movement. Where do we go to do this?
If there is UNAPP CASH in an account- where can see when the hold will be lifted?
Client Center
What type of account can we NOT set up an SLOA?
UTMA
Your checking past dues and see an IRA account that still holds a debit due to an AMS fee. How do you code?
Sell to cover debit - AMS fee
What is the closing fee for an IRA? Do we charge the fee for internal transfers?
$100, No
A branch emails you saying that their client got charged a wire fee at their external bank, The FA wants to take the charge and reimburse the client’s RJ account. What do we need to process this?
A bank statement showing the charge they are wishing to reimburse.
Which department can confirm if a check has been cashed?
Bank Reconciliations
What form is used to lift a rollover hold, and who processes that form?
1236, Retirement Plan Services
You find that a debit is due to a trade, but it is not tracking in Money Due- How do you proceed?
Email the FA/Branch a manual extension notice, and place a note on scratchpad.
You are processing a journal request that involves a trustee moving stock into their personal account. What two documents can you look at in SCP to see if self-distributions are allowed?
Client Onboarding Agreement or Trustee Certification
You cannot charge a trade debit to the FA's blotter. Only fee debits.
Death Certificate & Letters of Testamentary