Training Manual: Section 4 Review
Your Email Address
ARC group enforces a KYC (Know Your Customer) policy.
Yes
No
I understand the client/prospect meeting process.
Yes
No
Mark the items that are part of the Client Onboarding Process:
Determine that prospective client is an eligible participant.
Complete & review the OTC agreement, collect signature.
Agree on Consulting Fee - collect the payment or send invoice, enter into form.
Collect the correct Tax ID #.
Complete New Counterparty Form.
Complete ADMIS Application with client.
Complete plan & estimate crop.
Enter crop info into farm plan.
Set up ACH & Wires.
Meet with Banker, see if they want to be emailed farm plan.
The ARC Group recommends only contacting the client when there is an action to take.
True
False
The Farm plan should be reviewed with the client:
Annually
Every time you speak with them, but no less than quarterly.
Monthly
I understand the following tools and can effectively explain them to a potential client:
Crop Insurance
Futures
Options
Daily Swap Average
Marginless HTA
Enhanced Average
Independence
Confirms must be signed:
Within 24 hours.
Within 72 hours.
Within 48 hours.
What type of business structure requires an LEI# to do OTC business?
Select all that apply.
General Partnership
Limited Partnership
Corporation
LLC
Individual
Joint Venture
Trust
S Corp
DBA
Who pays for LEI Renewals?
ARC Group
The Client
The Broker
Margin is due:
Within 48 hours.
Within 24 hours.
The same business day.
An ARC Account must be funded through a bank account with the same name and Tax ID.
True
False
In re: Margin - remitter info on a check reading "and" (John and Mary) is treated the same way that it would be treated if it says "and/or" (John and/or Mary).
True
False
"Farm Account" appearing on a check funding an individuals account references a possible DBA name and raises anti-money laundering concerns.
True
False
Communication is the key to Customer Service.
I agree.
I disagree.
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