SOF 4.0 Knowledge Check

What triggers a Source of Funds (SOF) request in SOF 4.0?

• When a client’s 1Y net deposit reaches 100% of the yearly threshold (based on the country risk level)

• When a client’s deposit hits 50% of the monthly limit

• When a client logs in from a high risk country

• When a client requests higher leverage

Which of the following are stages in SOF 4.0? Select all that apply

• Enhanced Self Declaration Form (SDF)

• Client Profiling

• Source of Funds (SOF) Request

• Economic Risk Assessment

Which of the following statements are true regarding SOF approval rules?

• If SOF amount is ≥ $250,000, the rule is SOF amount minus $70,000

• If SOF amount is < $250,000, the rule is 70% of the SOF amount

• Approval rules from SOF 3.0 are no longer used

• The verified amount must always equal 100% of the SOF amount

Monthly limit increase can be requested by the clients from their Personal Area.

• True

• False

If a client has multiple connected Personal Areas (PAs), how is the amount to verify handled in SOF 4.0

• Amount to verify is mirrored across UIDs that have the "Same_identity"

• Different amounts are calculated per PA

• Only the main PA amount is verified

• The system chooses one PA randomly

If a client does not upload the required documents when requested for SOF, the monthly deposit limit will remain unchanged

• True

• False

When does the monthly deposit limit reset after an SOF request?

• On the 1st of each month

• After 7 days

• At the end of the current month

• On the 7th of each month

When a client’s 1Y net deposit reaches 100% of the yearly threshold, what is the amount a client must verify for the SOF request? (Client is not a student nor unemployed on EP)

• The client’s net deposit over the past 365 days (1 year)

• The total deposits made in the past 6 months

• The highest single deposit made

• The client’s declared income on EP

Which of the following scenarios can trigger a SOF request through TM monitoring? Select all that apply

• Inconsistency between declared income on EP and 1Y deposit

• Client declared as Student on EP (after meeting certain threshold)

• Client declared as Unemployed on EP ([after meeting certain threshold)

• Client submitted documents late

Under TM monitoring, what condition can trigger a new Economic Profile (EP) update?

• When the client’s 1Y net deposit exceeds 80% of their declared annual income + wealth on EP

• When the client logs in from a new location

• When the client fails to complete KYC

• When the client changes their PA password