Transfer Quiz

10 Questions

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Account Quizzes & Trivia

Questions and Answers
  • 1. 
    You take a RMD on transfers when the shareowner is over 70½, the account is not set to exclude the RMD and a RMD has not already been taken.
    • A. 

      True

    • B. 

      False

  • 2. 
    A transfer from Steve's individual account to a joint account for Bucky and Steve would be a __________ transfer?
    • A. 

      Gift

    • B. 

      Registration

    • C. 

      Custodial

    • D. 

      Inheritance

  • 3. 
    • A. 

      Suspend the item for one day in BACKDATE status for same day dollar

    • B. 

      Process the request like normal

    • C. 

      Give the item to a Senior to process outside of AWD

    • D. 

      Suspend the item for one day in UPDATED status for same day dollar

  • 4. 
    • A. 

      Transfer for a total of $13,687.98 with a Waddell & Reed advisor

    • B. 

      Transfer for a total of $105,865.51 with a 3rd party advisor

    • C. 

      Transfer for a total of $78,347.18 with a Waddell & Reed advisor

    • D. 

      Transfer for a total of $87,384.68 with on a CAST advisor

  • 5. 
    You receive a transfer request for a shareowner that is 85 years old going in-kind to another company for the full balance of his individual account, $75,000.00.  The account has a Waddell & Reed Advisor and the BIN is showing.  Select all that you need to do before ending the item.
    • A. 

      Send the Over 50k letter to the shareowner

    • B. 

      Send the Over 50k fax to the advisor

    • C. 

      Transfer all funds in-kind as a gift

    • D. 

      Transfer all funds in-kind as registration

    • E. 

      Take the RMD proportionately from all funds

  • 6. 
    A transfer from Steve's individual account to a joint account for Clint and Natasha would be a __________ transfer?
    • A. 

      Gift

    • B. 

      Registration

    • C. 

      Custodial

    • D. 

      Inheritance

  • 7. 
    A transfer from Steve's individual account to Bucky's Roth IRA would be a __________ transfer?
    • A. 

      Gift

    • B. 

      Registration

    • C. 

      Custodial

    • D. 

      None of these, change the worktype to FIDEXCH

  • 8. 
    If the BIN is not showing and there is no verbaige giving instructions to establish the accounts, you suspend the item until tomorrow.
    • A. 

      True

    • B. 

      False

  • 9. 
    When backdating a gift transfer, the gift date must be the same as the trade date unless another date is specified.
    • A. 

      True

    • B. 

      False

  • 10. 
    A transfer from Tony's individual account with Waddell & Reed to an individual account at a new custodian for Tony would be a __________ transfer?
    • A. 

      Gift

    • B. 

      Registration

    • C. 

      Custodial

    • D. 

      Transfer of Assets