Tip of the Week Sep 2023

Which of the following scenarios could cause a financial cost? (Select all that apply)

• a) Submitting an E-req at 12:00 noon

• b)  Submitting a transfer out in cash PR after 4 p.m.

• c) Modifying a PAC at 5 p.m. on day prior the run date

• d)   Modifying AWD at 3:00 p.m. of the run date

When can we reach out to IQ?

• a)  Escalations

• b)  Complaints

• c) Complex calculations

• e) Statement mailing exceptions

• f) All of the above

When can we contact dealer relations? (Select all that apply)

• a)  For Fundserv related inquiries  

• b)   To transfer a call from dealer

• c)  To request for advisor’s email on record to be updated.

• d)  All the above

Upon receiving feedback from an advisor in response to a RESO call out, which of the following steps should be taken. (Select all that apply)

• a) Relay the feedback to the RESO agent via teams.

• b) Memo the account and submit a bump up request

• c)  Annotate the Doc related to the reso call out.

• d) E-mail a supervisor with the feedback.

• e) Transfer caller to the reso agent that made the call out

      In which of the following scenarios should we NOT memo an account?

• a) Upon creation of a password by a POA

• b) Upon advisor’s verbal request to cancel a manual trade

• c) When handling a client-initiated redemption over $5k that came directly to FSR’s attention

• d) Upon receiving notice of identity theft by client or advisor

Which one of the following is NOT TRUE about 50% Federal unlocking?

• a) For a federal LIRA 50% unlocking can only be done once

• b) Cash can only be withdrawn from either an RRSP or RRIF

• c) LOI to backdate an unlocking request from a RIF can be accepted after 60 days have passed since initial transfer

• d) Annuitants have an option to delay receiving MAP after unlocking

Which of the following information can we verbally provide to the advisor on file?

• a) Client’s SIN

• b) Client’s DOB

• c) Beneficiary’s SIN

• d) Assigned wholesaler

• e) Date account was set up

On spousal accounts, which of the following cannot be done after contributor passes through full security check?

• a) Pac modifications

• b) Providing contribution amounts

• c) Update contributor’s address

• d) Email a T4RSP to contributor

For third party inquiries on certificates, what security questions do we ask? Select all that apply.

• a) Receiving institution’s name

• b) Client’s DOB

• c) Client’s last four digits of SIN

• d) Funds in the account

Peter is an 18-year-old British Colombia resident and an in trust for beneficiary to an open account. What requests can we assist him with?

• a) Name of the trustee

• b) Market value in the account

• c) Address update

• d) His address on file