1) Which tab in ClientWorks contains tax forms? a) Documents b) Statements c) Summary d) Investments 2) What tax form reports the contributions made into the LPL account? a) Account Statements b) 1099-R c) Consolidated 1099 d) 5498 3) What BETA screen displays the status of an outgoing ACAT transfer in progress? a) TOAR b) TADS c) TARS d) TOAD 4) Which LPL form is required to process an outgoing ACAT transfer? a) F2 b) The receiving firm (contra firm) must use its own transfer forms c) F1BN d) F172 5) Peter needs to distribute funds via ACH from his non-retirement account, but is unable to get in contact with his Financial Professional. How would you assist Peter with the distribution? a) Process the ACH distribution for Peter b) Inform Peter that you can only send a check to the address on record c) Process the ACH distribution for Peter, only if he has ACH On-Demand instructions on file d) Inform Peter that you are not empowered to send him any type of distribution and that he must wait for his Financial Professional to call him back 6) True or False: In BETA, the ACCT screen displays the client's mailing address and the DAML screen displays the client's residential address. a) True b) False 7) True or False: All UTMA accounts become restricted when the minor reaches age 18. a) True b) False 8) True or False: End investors can only request a check to the address on record without a financial advisor entering the request. a) True b) False 9) True or False: If a client does not have tax withholding on their retirement account and does not have an active Financial Professional, they must complete form CM102 with a notarized signature to request a check to the address on record. a) True b) False 10) An end client has requested that their check to the AOR be expedited via overnight mail. Where in BETA can the FSP locate the tracking number for the end client? a) SPAD b) DOCA c) AHIS d) VALU 11) Select all that apply: Where can a Service Professional locate the status of an outgoing Non-ACAT transfer? Select all that apply: a) SPAD screen in BETA b) ServiceWorks account transfer status grid c) ClientWorks Request Tracking Tool (RTT) d) TOAD screen in BETA 12) Select all that apply: Which BETA screen(s) can be utilized to verify a caller's name? a) AIRE b) MDRO c) DAML d) TODB 13) Select all that apply: From the data points listed, select the option(s) that are considered additional data points for end client authentication: a) Occupation b) Date of Birth c) Drivers License Number d) All beneficiaries' names listed on the account 14) All the information below can be discussed with an authenticated beneficiary except: a) The percentage of assets belonging to the beneficiary b) The process for distributing funds c) The value of the account d) The death certificate on file 15) Which of the following transactions would generate a 1099-R for a client's retirement account? a) A journal to another one of the client's retirement accounts with the same account registration b) An outgoing ACAT transfer to another firm with the same account registration c) A distribution of funds from the client's retirement account d) A mutual fund sale in the client's retirement account

Client Line Certification Review

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