Assante Withdrawals, Client Fees - Foundations Day 7 Review

What is an Annual Client fee for a NN RIF account?

• $125 for Client Fee

• $75 plus taxes for Client Fee

• No fees for Quebec clients

• $50 for Client Fees

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

• No - must wait next day.

• No - must wait for Sell to be "Filled".

• Yes - but only after approval from Processing.

• Yes - because MM funds settle T+1.

When do client fees get charged on Nominee registered accounts?

• Annually and full transfer-out of account.

• Semi-annually and any transfers.

• Annually only.

• De-registrations.

What is the cut-off time to request a wire order payment?

• 1 PM

• 2 PM

• 3 PM

• 4 PM

Which of the below is/are exempt from client fees?

• Staff accounts

• Client holding RDSP accounts

• Clients under the 3342 Segregated Fund dealer code

• All of the above

Assante charges a fee when a client withdraws money from their NN Non-registered account.

• TRUE

• FALSE

An example of a Third Party withdrawal is...

• Payment to the CRA

• Payment to a family member

• Payment to a corporation owned fully by the same owner

• All of the above

Which account will not be charged an annual client fee?

• Client Name Accounts

• Nominee TFSA account

• Nominee Joint Open Account

• Staff Account

Overdrafts can be processed for AFM and ACM accounts

• TRUE

• FALSE

Normally , Overdraft requests should be submitted only when the pending order is "filled"

• TRUE

• FALSE