Credit Union Quiz

Take this brief 10 question quiz to see how well you really know us. Don’t worry, all scores are kept confidential (as in we won’t share them with your supervisor!).

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* 1. Michael Jordan, a current member for over 20 years, has since moved to North Carolina. Can he and his family still work with Vision Retirement?

Yes

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* 2. Thomas Edison has money invested in Charles Schwab and other brokerage accounts. If he becomes a client of Vision Retirement, does he have to move any of his investments?

Yes

A minimum of 25%

A minimum of 50%

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* 3. Julia Roberts is 22 and has been in the workforce for one year. Fortunately, she has saved $10,000 but isn't sure how or where to invest it. Would be someone that could be referred to Vision Retirement?

Yes

Would be if she had another $10k

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* 4. Eddie Murphy has joined Vision Retirement as a financial advisor. He wants to explain, to potential clients, the concept of proprietary products and brokerage firms that push them. Help him select what he should say:

Proprietary products are investment vehicles issued by the same financial institution that is advising the client. That's like a doctor prescribing and selling you medication he/she made and packaged themselves! While that may not be bad, you should be aware of all the best available options.

Proprietary products are investment vehicles issued by the same financial institution that is advising the client. That's like driving an ice cream truck in the rain.

Proprietary products are evil. Very bad.

Proprietary products are investment like no other. High fees and low returns are what they are all about. Stay away.

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* 5. Priyanka Chopra discusses why an independent RIA, like Vision Retirement, is often better for consumers than a bank or brokerage firm. One reason she gives is that RIA's are held (by law) to the fiduciary standard while others are not (they're held to a suitability standard). A good way to explain the concept would be:

It's kind of like a car dealer pushing a car they need to sell (suitability) vs. telling you another dealer down the street has more of the features you want, at a better price (fiduciary)

Firms held to suitability standard charge higher fees

Firms held to the fiduciary standard charge lower fees

All of the above

None of the above

I need more information to answer this question

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* 6. Multiple choice. Jennifer Lopez earned a 6% return on her investments last year. In comparison, her friend Blake Shelton earned 4%. Therefore one can easily assume that Jennifer has a better financial advisor than Blake.

True

False

Not enough Information to answer this

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* 7. Ken Jeong is a new employee at the credit union and you are training him. You ask him which of the following key activities could imply a life changing event. He should select (you can choose more than one answer):

Change of ownership on an account

New Trust account

New Custodial account

New auto loan application

Change in beneficiary

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* 8. Vision Retirement has options that start as low as...

$79 a month

$59 a month

$29 a month

$49 a month

$500

Based on net worth

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* 9. Stephen Curry tells you that Vision Retirement uses an independent 3rd party custodian (LPL) to hold client assets. And that this benefits the client because (hint: choose more than one):

A custodian sends its own statements giving clients a way to double-check what your financial advisor is telling you.

A custodian also prices and provides transparency to your investments, ensuring that everything is really worth what your advisor says it is.

Your assets are secure since advisors don’t have physical possession of them.

Clients get free ice cream on alternate Mondays

Credit Union Quiz

Question Title

* 1. Michael Jordan, a current member for over 20 years, has since moved to North Carolina. Can he and his family still work with Vision Retirement?

Question Title

* 2. Thomas Edison has money invested in Charles Schwab and other brokerage accounts. If he becomes a client of Vision Retirement, does he have to move any of his investments?

Question Title

* 3. Julia Roberts is 22 and has been in the workforce for one year. Fortunately, she has saved $10,000 but isn't sure how or where to invest it. Would be someone that could be referred to Vision Retirement?

Question Title

* 4. Eddie Murphy has joined Vision Retirement as a financial advisor. He wants to explain, to potential clients, the concept of proprietary products and brokerage firms that push them. Help him select what he should say:

Question Title

Question Title

* 6. Multiple choice. Jennifer Lopez earned a 6% return on her investments last year. In comparison, her friend Blake Shelton earned 4%. Therefore one can easily assume that Jennifer has a better financial advisor than Blake.

Question Title

* 7. Ken Jeong is a new employee at the credit union and you are training him. You ask him which of the following key activities could imply a life changing event. He should select (you can choose more than one answer):

Question Title

* 8. Vision Retirement has options that start as low as...

Question Title

* 9. Stephen Curry tells you that Vision Retirement uses an independent 3rd party custodian (LPL) to hold client assets. And that this benefits the client because (hint: choose more than one):

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* 10. Guess the number I'm thinking of.