IC Policy Batch 1 Quiz

1.

1 point

Which of the following should be checked during a Quality Control review by the IC Specialist/Associate conducting QC? Check all that apply.

Whether or not the paperwork/checks submitted by the IC was IGO

Cover sheet was completed correctly by the submitting associate

Time Stamp is legible and matches the trade date given to an item unless an exception is noted on the cover sheet

Principal Approval is documented in AWD for new 529 accounts

2.

1 point

IC Specialists/Associates only need to QC 50% of the items from the previous day received before 3:30 and 100% of the items received after 3:30 under the updated Quality Control Policy.

True

False

3.

1 point

What should you do if a client indicates that they would like for you to reach out their friend who is not a current T. Rowe Price customer?

Call the friend's telephone number provided by the client to introduce yourself.

Check the National Do-Not-Call Registry for the name and number of the client's friend and proceed to call out if appropriate.

Send an email to the friend using an email address provided by the client.

Request that the client have their friend contact you and provide a business card with your contact information.

4.

1 point

An associate can travel to an offsite meeting with a FedEx envelope for client paperwork but may use their discretion to transport paperwork back to the branch if they so choose.

True

False

5.

1 point

Fill in the Blank: _____________ is the system where all updated IC Policies will be housed, along with other policies that IC associates are subject to.

6.

1 point

What must an associate check for when accepting a check for a 529 purchase into an existing account? (Check all that apply)

YTD Contributions that have been made for gift tax purposes

Check is in good order and made payable to the proper party

Account balances for a single beneficiary for aggregate balance limits

Stop Transfers

7.

1 point

IC Managers and IC Specialists are the only associates who are held accountable to ensuring the all new 529 accounts receive approval.

True

False

8.

1 point

Branches are permitted to keep Advisory kits on hand so that they can be easily filled out by a client or prospect in the office.

True

False

9.

1 point

A beneficiary change for a 529 account that results in a new account being created does not require review or approval by a principal since we are not taking a check contribution.

True

False

10.

1 point

How should an IC Associate handle a TRP employee who emails them to conduct business on their own accounts/prospective accounts (i.e. TRP employee has questions that they send via email, would like to schedule via email, etc.)

The IC Associate should send the TRP employee an IM to talk further.

The IC Associate should submit an SCG request so that email can be sent to the employee's personal email address.

The IC Associate may respond back via free form email since they are dealing with a TRP employee.

The IC Associate should call the TRP employee to talk further.