529 - November Knowledge Check

Are Meal Plans a Qualified Expense?

• yes

• no

Is off-campus food a qualified expense, up to the amount of the on-campus meal plan, for students living off-campus who are enrolled at least half-time credits at a qualified higher education institution?

• yes

• no

Where can a bene’s UGIFT code be located in CSR?

• At the bottom of the AO's quarterly account statement

• “Share Ugift code and view history of gifts” on the right side of the "Welcome Back" screen

What does Unverified Bank Info mean?

• Bank account doesn’t exist.

• Our system couldn’t confirm the bank account is owned by the AO. An example: The plan allows the bene’s bank to be added. It doesn’t belong to the AO, so it will appear as unverified. We may still transact with an "Unverified" status bank.

The recipient of the funds is the Payee on the distribution check/ACH.

• False

• True

Can an AO list their spouse as an AA - Level 4?

• Yes, if the plan offers AA, check plan page for details

• No

If an AO faxes paperwork to the 529 plan, how long until we will be able to see it on the account?

• Instantly

• Within 30-60 minutes

• typically, within 1-2 business days - incoming documents are processed/scanned in, in the order they are received.

Access the Death of an Account Owner SOP in SupportPoint. Fill in the blank, "Trust Accounts: If it's a trust ____ don't freeze the account or disable web access.

• that is not being dissolved

• that is being dissolved

• with a surviving trustee

• without a surviving trustee

Access the Fraudulent Activity SOP in SupportPoint. If the caller IS ABLE to pass security but the CSR suspects fraud, Then: (multiple correct responses)

• Complete the transaction request and place an Alert on the account; include detailed comments about your suspicion.

• Create a case (new or add to existing relevant case) to detail the suspected fraud,

• Tell the caller a notarized LOI will be needed in order get any information on the account.

• Send an email to your Client Services Leadership Team (Lead & Manager) for review. They will forward the concern to Fraud team.

Access Fraudulent Activity SOP in SupportPoint. AFTER CALL PROCESS: Once the Fraud Team has reviewed the case, they will add comments to the case stating how to proceed and will reply to the email as well. Next, (Select all correct responses)

• The CSR is to read both the email and case note comments added by the Fraud team (such as: "disable web access", "cancel transaction", advise caller about sharing credentials", etc.)

• If "cancel the transaction" is instructed, work with your Senior/Lead on how to route the case to Resolution Services for the specific plan.

• If a callout is required, do not read the complete case comments to the person you call unless the Fraud team gives you specific instructions on what to say. Only give the comments as instructed.

• If nothing further is to be done, add your final case notes to the account and close the case (route to Complete).