WorksheetsRPS Week 2 Review
Total questions: 20
Worksheet time: 15mins
Which of the following is NOT a standard identifier that can be used for authentication?
DOB
DOT
DOH
DOP
How do you authenticate an internal business partner (i.e. fellow Schwabbie)?
Ask for their name & look them up in the Schweb
Ask for their name & send them a private IM
Ask for the Word of the Day
Ask for the name of Chuck’s more recent book
What is the Jumpword to find the current Word of the Day?
WOD
Sendword
Word
There isn’t a JW for this
You are required to verify the participant’s phone number, email address, AND mailing address when
The participant is initiating a distribution or loan from the account
You're creating paperwork in Dime/ submitting a Work Request for paperwork
You are processing a transaction that will initiate paperwork to be sent
All of the above
True or False: You CANNOT continue with Authentication if the participant can’t correctly answer their security question (aka secret question)
True
False
A participant adds their spouse as 100% primary beneficiary and their sister as 100% contingent beneficiary. What do you need to do after saving all bene info?
Nothing- The process is complete
Request a Confirm Letter be sent
Advise the ptp to contact their employer for a physical confirmation
Request a Spousal Consent Form be sent
Which of the following is NOT a required piece of information to add beneficiary designations?
The bene’s full legal name
The bene’s SSN
The bene’s DOB
The bene’s share percentage
What tab in PSL do you access to reset an online password or generate an access code?
Security
PSL Home
eServices
Web Setup
True or False: All participants can access their 401k by going to workplace.schwab.com, schwabplan.com, AND schwab.com
True
False
During the Discover phase of EDGE, what type of question should we usually start with?
Open-ended
Closed-ended
Web access will be locked after how many failed login attempts?
1
3
5
Unlimited
Name the limit and dollar amount for employee contributions in 2024
415 Limit/ $69,000
402(g) Limit/ $23,000
415 Limit/ $23,000
402(g) Limit/ $69,000
All of the following Contribution Types are subject to the 402(g) limit EXCEPT
Pre-Tax
Roth
After-Tax
All of the above
True or False: As long as the participant meets all of the criteria, After-Tax Contributions AND Earnings can be withdrawn tax-free
True
False
Name the limit and dollar amount for employee AND employer contributions in 2024
415 Limit/ $69,000
402(g) Limit/ $23,000
415 Limit/ $23,000
402(g) Limit/ $69,000
Which of the following is NOT a benefit of Roth Contributions?
Allows ptps to contribute past the 402(g) limit
The earnings grow tax deferred
The earnings can potentially be withdrawn tax-free
The contributions can be withdrawn tax-free
Based on the following Match Formula, what deferral rate must the ptp set to max out their employer's match?
100% of 4%, plus 50% of next 2%
2%
4%
5%
6%
Unless otherwise stated in Plan Messages, how long do Deferral Rate Changes take to go into effect?
1-2 pay cycles
1-2 weeks
30 days
They go into effect immediately
For a Rollover, the check will be returned to the ptp's AOR if the RCA is not received within how many days of the check?
3
5
7
10
If the participant cannot complete the Digital Rollover Application (RCA), what should we do?
They are unable to rollover
Email them the paper RCA
Guide them to download the paper RCA online
Submit a WR
