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WorksheetsUS Annual Prelim Refresher
Total questions: 10
Worksheet time: 50mins
TRUE OR FALSE: A Preliminary document can be processed only if BOTH 01016 Total Interest Income and 01551 Net Income before Extraordinary Items and Preferred Dividends are updated.
True
False
What process should be done if you fetched an 8-K document but P was already updated and 8-K contains more details than P?
Reject the document and select “Time slice already updated” as rejection reason.
Process document and delete updated time slice previously sourced from P form type.
Process the document. No need to delete previously completed prelim.
Reject the document and select “Minimum Criteria not met” as rejection reason.
Below processes should be done when fetched a prelim document which was already verified to be treated as final EXCEPT:
File an RPD to Document Acquisition Team to change the tagging of the document from Prelim to Final.
Make sure to park the document while waiting for your RPD to be resolved by DocAq Team to lessen touch time.
Change the Report Type ID in DocInfo before creating time slice.
Process the document according to final reports collection procedure and guidelines.
TRUE OR FALSE: Given the screenshot below, generic net income should also be updated to Net Income used to Calculate Diluted EPS.
True
False
Which of the following statements is/are correct?
I. For cases of net loss, generic net income can be collected to Net Income used to Calculate Diluted EPS.
II. For cases when EPS basic and diluted are reported as same, still leave blank diluted Net Income if not reported.
III. If only EPS diluted is reported, it follows that the generic Net Income is for Diluted as well.
I only
I and II only
All of the above statements
How should we collect AR Income Statement when only discrete quarters (Q1, Q2, Q3, and Q4) are reported within the document?
Simply use Autocalc function for AR
Use vault to load Q1, Q2, and Q3 prelims and add to reported Q4
Add reported Q1, Q2, Q3, and Q4 within the document
TRUE OR FLASE: Prelim document that only contains Full/ Complete Balance Sheet and Cash Flow can still be processed. Tick B note in Docinfo Document details section, “Company Does Not Report an Income Statement” before creating a time slice.
True
False
The following fields can be collected in Prelim if reported EXCEPT:
Net Interest Margin
Number of Employees
Limited Update Flag – O/s Debt
Limited Interim Flag
Which of the following fields can be collected in both AR and Q4 with the SAME values?
I. Net charges-off in Balance sheet
II. Net Interest Margin in Income statement
III. Number of Employees in Income Statement
IV. Average Number of Employees in Income Statement
Only I and II
Only I and III
Only I, II and III
All of the above fields
Given this screenshot below, how should provision for loan losses section be updated?
Collect 2.1M to Net charge-offs for Q4 only
Collect 2.1M to Net charge-offs for AR only
Collect 2.1M to Net charge-offs to both Annual and Q4
Ignore the notes
