Variations to Ongoing Fee Arrangements

1. Which of the following events would likely prompt changes to an OFA?

A) One or more clients are allocated to an alternative adviser within the same AFS licensee

B) A client opts to transfer their personal investments into their SMSF

C) The separation or divorce of an advised client couple

D) Both 2 and 3

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2. What is a Fee Consent Form used for?

A) To accept an Ongoing Fee Arrangement

B) To provide the client with a Fee Disclosure Statement

C) To explain the terms and potential limitations of a product

D) To state what needs to be included in Ongoing Fee Arrangements

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3. ASIC considers the substantive part of an Ongoing Fee Arrangement to be:

A) The provision of an advice document

B) The provision of a Fee Statement

C) The provision of a Fee Disclosure Statement

D) The Anniversary Date

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4. The Anniversary Date of an Ongoing Fee Arrangement must be the same as the client review date.

A) True

B) False

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