Assante Foundations Test 2 Review

Multiple Choice

True or False

A client can place an online deposit in either CAD or USD currency

• True

• False

Multiple Choice

An advisor calls to ask how to cancel a trade before 2 p.m. What do you tell them?

• You can cancel it on RBroker/RPM for them

• They can cancel it on Action via Pending Orders screen

• They have to wait until the next business day to reverse it

• They have to send an email to documents mailbox

Multiple Choice

What is a Letter of Indemnity?

• A letter to correct a trade error or non-financial request

• A type of trade that can only be requested via LOI

• A letter of instructions signed by the client

• A letter to request for the fee waiver for an error

Multiple Choice

A client did an online deposit in a RRIF account two days ago but it doesn't show in AWM Investor on line. What could be the reason?

• It is still in progress, they have to wait longer

• AIO doesn't show online deposits

• The online deposit will be rejected. It is a RRIF account

• It must be a system issue, the deposit should be showing on AIO already

Multiple Choice

Advisor Kenneth Drabble incorrectly placed a buy on a client's account a week ago, what can he do now?

• Place a sell for the same amount to balance out the buy

• Reverse the trade and re-input correct trade on Action

• Send an LOI request via AANET

• Send an LOI request to [e-mail]

Multiple Choice

What is a client's annual fee for a NN RSP for 2024?

• $75 plus tax

• $125 flat for Trustee fee

• No fees for Ontario clients

• No fees for NN RRSP accounts

Multiple Choice

What is the Settle Source and Network type for a BUY in a NN TFSA?

• Dealer, Direct No Network

• Dealer, Wire to N$M (Fundserv)

• Client, Wire to N$M Fundserv

• Dealer, Wire to Fundserv

Multiple Choice

True or False

A parent can place an online deposit into their minor child's Assante NN TFSA

• True

• False

Multiple Choice

True or False

If an Advisor places a trade and it gets rejected , you can tell them to try again as it may go through the second time.

• True

• False

Multiple Choice

True or False

The S&R team will review rejected trades and try to push them through first, without notifying the advisor

• True

• False

Multiple Choice

If a Sell is placed in a Money Market Fund today, can an overdraft be requested same day?

• No-must wait until next day

• No-must wait for the sell to be 'filled'

• Yes-but only after approval from Processing

• Yes-because MMF trades settle T+1

Multiple Choice

Assistant calls to move a client's deposit from a US demand to an existing CDN demand. You say?

• Branch Manager needs to approve this request

• You can move the money for her on RPM if UD demand is there

• They can submit request to CX Processing Team,

  [e-mail]

• It cannot be done

Multiple Choice

True or False

A PAC can be set up to run weekly or biweekly on ActionPro

• True

• False

Multiple Choice

Becky calls back as a BUY she cancelled at 10 a.m. isn't cancelled. It's now 3.30 p.m. What now?

• Its's too late,Becky.That's an LOI

• Contact Account Updates team urgently to cancel

• You, the CSA , can cancel it yourself on Action while Becky is on the line

• Tell Becky to reverse the trade in the morning

Multiple Choice

When is annual fee charged on Nominee accounts?

• Annually and on withdrawals/full transfer-out of the account

• Semi-annually and any transfers

• Annually only

• On

  De-registrations

Multiple Choice

True or False

To view a CN systematic plan in ActionPRO you must click on "More..."dropdown and then "PAC" or "SWP" tab

• True

• False

Multiple Choice

If LOI is required due to a Head Office processing error, where the request should be submitted?

• loirequest

  @assante.com

• service@

  assante.com

• AsAcctUpdate

  @assante.com

• LOI Mutual Fund intake form with E&O via AAnet