REVIEW NOTES LONG QUIZ PDF

**REVIEW NOTES** Document given by financial advisers to their clients to understand the client's current situation and their goals. A. Risk Profile B. Annual Statement C. Fact Find D. Financial Services and Credit Guide What is the first step in the Product Research process? A. Contacti...

**REVIEW NOTES** Document given by financial advisers to their clients to understand the client's current situation and their goals. A. Risk Profile B. Annual Statement C. Fact Find D. Financial Services and Credit Guide What is the first step in the Product Research process? A. Contacting Product Providers B. Downloading PDS, Guides, and Fact Sheets C. Sending the Letter of Authority and Certified ID to the Providers D. Audit Third Party Authority with 3 points of Identification How many points of identification must a Third Party Authority at least have? A. 2 B. 3 C. 4 D. 5 Which Initial Meeting Documents below provides financial practice the authority to request for documents and obtain information of the client's existing fund? A. Client Acknowledge Form B. Annual Statement C. Letter of Authority D. Financial Services Guide Which document provides the client with details on their product's performance, as well as useful information that will help them get the most out of their investments? A. Client Acknowledge Form B. Annual Statement C. Policy Schedule D. Financial Services and Credit Guide A unique 11-digit number that identifies your business to the government and community issued by the Australian Business Register (ABR) which is operated by the Australian Taxation Office (ATO). A. Tax File Number B. Account Number C. Unique Superannuation Identifier D. Australian Business Number This a legal document that sets the terms of the agreement between the adviser and the client and includes details such as the scope, fees, and responsibilities, among others A. Engagement Letter B. Third Party Authority C. Financial Services Guide D. Adviser Profile After-tax contribution like personal contributions, spouse contributions, and government co-contribution. A. Non-concessional B. Preserved C. Non-preserved D. Concessional It is a unique identifier issued by the Australian Taxation Office (ATO) to each taxpaying entity. A. Tax File Number B. Account Number C. Unique Superannuation Identifier D. Australian Business Number What is the purpose of the initial meeting? A. To implement the recommended strategy B. To establish if there is an opportunity to help the client develop a plan C. To apply for insurance covers D. To compare the cost of investment/superannuation products Type of nomination in which the fund provider must pay the death benefit as nominated A. Reversionary B. Binding nomination C. Beneficiary D. Non-binding nomination A contribution made by the Australian government to a person's superannuation account based on that person's income. It is designed to help lower income earners build up their super before retirement. A. SG contribution B. Government co-contribution C. Spouse contribution D. Concessional contribution Fee that relates to the administration or operation of the fund. This may be a dollar amount or a percentage amount or both. This covers the cost in the daily running of one's account. A. Management Expense Ratio B. Switching fee C. Admin fee D. Indirect cost ratio Benefit amount that can be accessed when one stops working for the employer who has contributed to one's super account. A. Concessional B. Preserved C. Unrestricted non-preserved D. Restricted non-preserved Which information below is not included in the FSG? A. List of Financial Adviser B. Services Offered C. Client's contact details D. Complaints Procedures A number used to identify super funds within the financial services industry for electronic rollovers and contributions. A. Tax File Number B. Account Number C. Unique Superannuation Identifier D. Australian Business Number True or False. Initial meeting documents that the FPA needs to prepare include FSG, CAF, Fact Find, Risk Profile, Engagement Letter, TPA and Annual Statement A. True B. False Ratio expressing the management, fees and certain other expenses of a managed fund as a proportion of the net asset value of the fund A. Management Expense Ratio B. Debt ratio C. Asset ratio D. None of the above Benefits for which a member has previously satisfied a condition of release and which benefit could be accessed at any time they want to. A. Concessional B. Preserved C. Unrestricted non-preserved D. Restricted non-preserved This sets out the range of financial services that the financial planner is authorised to provide. A. Fact Find B. Annual Statement C. Financial Services Guide D. Policy Schedule Benefit that cannot be accessed until the client reaches preservation age and is already retired. A. Non-preserved B. Preserved C. Restricted non-preserved D. Concessional Contribution Which information below is not included in the CAF? A. TFN B. Practice details and AFSL C. Terms and Conditions D. Client's consent Level of investment risk you are comfortable with as an investor. A. Risk Profile B. Annual Statement C. Policy Schedule D. Financial Services and Credit Guide The outline of the insurance cover/s provided under the policy. A. Policy Schedule B. Annual Statement C. Fact Find D. Financial Services and Credit Guide Before tax contributions like employer contributions and salary sacrifice. A. Non-concessional B. Preserved C. Non-preserved D. Concessional It acknowledges the client's receipt of the relevant documents and acknowledges the information provided was to the best of his knowledge and is complete, accurate and current. A. Client Acknowledge Form B. Annual Statement C. Policy Schedule D. Financial Services and Credit Guide The dependant receives the benefits as an income stream A. Reversionary B. Binding lapsing nomination C. Binding non-lapsing nomination D. Non-binding nomination An agreement between an employee and the employer to pay a portion of the employee's pretax- salary as an additional contribution to their superannuation account. A. SG contribution B. Government co- contribution C. Salary sacrifice D. Spouse contribution Amy started working on 01 July 2018 and her employer at that time opened a Super fund for her with AMP on 05 July 2018 and made the first SG contribution on 08 July 2018. On 01 August 2020 Amy resigned and worked for a different company and her then employer made the first SG contribution to her existing super fund on 10 August 2020. When is the eligible service date for Amy's super fund? A. 01 July 2018 B. 05 July 2018 C. 08 July 2018 D. 10 August 2020 A unique identifier was issued to investment options. A. Tax File Number B. Asia Pacific Investment Register C. Unique Superannuation Identifier