Trades, S & R, LOI

Multiple Choice

Which system does the branch use to place mutual fund trades?

• R-Broker

• AANET

• NetRep

• ActionPRO

Multiple Choice

Where is the first place you can check for more details on a rejected trade?

• Email Accountupdates

• The message log in RPM will give a fundserv error, check Knowledge

• Contact the fund company

• Contact Seni

Multiple Choice

An advisor calls at 1.30 p.m. to ask how a trade can be cancelled. What do you tell them?

• You can cancel it on RPM for them

• Too bad, so sad, wouldn't wanna be ya. That's an LOI!

• They can cancel it on ActionPro via Pending orders screen (CXL Button)

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

Multiple Choice

What is Letter of Indemnity?

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

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

• A letter of apology for processing an error

• A letter to waive fee for an error

Multiple Choice

Advisor Bobby incorrectly placed a buy on a client's account a week ago( a week ago!). What can he do?

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

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

• Send a LOI request via AANET

• Send an LOI request to loirequest

  @assante.com

Multiple Choice

What is the Settlement 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

Which team sends rejection notices to advisors if they cancel trades processed incorrectly?

• Special products

• NAAF

• Settlements & Reconciliation

• CX Team

Multiple Choice

Becky is trying to cancel a buy from 10 a.m. with no CXL button showing.It is now 3.30 p.m. What do you do?

• It's too late Becky!

• Contact Account Updates team to cancel the trade ASAP

• Cancel it for her on Action while she is on the line

• Tell Becky to submit an LOI

Multiple Choice

True or False

Assante will allow advisors and clients to place direct trades to the fund company on Nominee accounts without penalty?

• True

• False

Multiple Choice

Money Market funds settle in T+2

• True

• False