Trust Examiner School eBook

Item # Request Item Status Individual Responsible / Comment 6.01 Provide a list of all accounts. Include account type, total market value, and name of administrative officer. This request is in addition to data uploaded to TARS, and preferably in excel spreadsheet format. 6.02 Provide documentation describing procedures for the review of cash balances available for investments, overdrafts, and distributions. 6.03 Provide documentation describing the trust company's synoptic/tickler system. Include procedures to identify expiration dates for premiums on insurance, required minimum distribution dates for individual retirement accounts, anticipated payment/receipt dates, or other critical dates. 6.04 Provide details of any advances or loans to cover overdrafts. 6.05 Provide overdraft report for the financial review date. Include account name, account number, responsible officer, location, amount of overdraft, and date the overdraft was created. 6.06 Provide the list of approved investments (buy/sell list). 6.07 Provide documentation describing the process for developing and maintaining the approved list of investments. Include details for investment screening criteria and research methods. Indicate the frequency of reviewing and updating the approved list. 6.08 Provide the internal watch/hold list. 6.09 Provide details for asset allocation models. 6.10 Provide details for determining the suitability of a discretionary account's investment objective. 6.11 Provide process for determining time weighted returns for accounts. 6.12 6.19

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Provide list of collective investment funds managed or advised. Include the governing plan document and any amendments, the fund name, fund objective, name of fund manager, copy of last audit for each CIF, approval of the CIF by the proper regulatory agency, promotional materials on the CIF, and its last valuation calculation. 6.13 Provide a list of closely held business within trust accounts. 6.14 Provide list of partnership interests held in accounts. 6.15 Provide list of worthless assets held in accounts. 6.16

Provide list of real estate held in accounts. Include a list of mortgaged property on which payments of principal, interest, or taxes are delinquent; a list of any real property held by accounts on which taxes are delinquent; a list of expired property insurance on mortgaged property, or other real property held as assets, unless liability thereon is covered by blanket insurance; a list of pending foreclosures involving mortgages held as trust assets; a list of real estate held by accounts on which there exists delinquencies in rental income; and a list of real property held in any fiduciary account that is leased to the trust company, an affiliate, or to any director, officer, or employee. 6.17 Provide list of accounts that hold life insurance policies. 6.18 Provide list of notes held in discretionary accounts where there are delinquencies in principal/interest of 60 days or more. Include the account number and name; responsible officer; location of servicing office; name of borrower; present balance of note; and number of days delinquent or date it became delinquent, and provide a 12-month payment history. Provide information regarding brokers/investment managers. Include brokers used and fees/commissions paid during the last three years; a list of trading errors or complaints against any broker used; the last formal analysis of broker relationships; and documented due diligence of initial and ongoing review of external investment managers. 6.20 Provide reports used to oversee the investment function for the trust accounts.

ASSET MANAGEMENT