1. Create a "New Plan" within Hexawise
Call the plan "Know Your Customer Rules."
2. Cut and Paste the following list of Parameters and Values into the "Bulk Edit" view of the Parameters screen:
Type of Account[Single Person Account, Two Person Account]
Gender (Primary Account Holder)[Male, Female]
Regular Income (Primary Account Holder)[None, Very Low, Low, Medium, High, Very High]
Pension Type (Primary Account Holder)[None, Single-Life Annuity, Joint and Survivor, Certain and Continuous, Lump Sum]
Annual Pension Income (Primary Account Holder)[None, Small, Medium, Large] Gender (Partner)[Male, Female]
Regular Income (Partner)[None, Very Low, Low, Medium, High, Very High]
Pension Type (Partner)[None, Single-Life Annuity, Joint and Survivor, Certain and Continuous, Lump Sum]
Annual Pension Income (Partner)[None, Small, Medium, Large]
Investment Knowledge (Applicable to Account)[Novice, Average, Sophisticated]
Years Investing (Applicable to Account)[No experience, Less than 5 Years, 5 or more Years]
Risk Tolerance (Applicable to Account)[Very Low, Low, Medium, High, Very High]
3. Change the Plan to Reflect the below information:
The scenarios with Two Person Accounts should include all 11 Parameters. The scenarios with Single Person Accounts should have only 7 Parameters. Remove the 4 Partner details from every scenario that has a "Single Person Account." This will require using a combination of married pairs and "Not Applicable" parameter values.
4. After you have completed this exercise:
Look at your "Scenarios" screen and confirm that each scenario you have that has a "Single Person Account" includes 4 "N/A's" in the 4 columns for details about Partners.
Share your plan with support@hexawise.com
Answer the question at the bottom of this page.
Hints to complete this exercise:
1. Remember that explicit values like "N/A" will be necessary whenever a Parameter in a scenario needs to be "skipped."
Note: Advanced Constraints enable Skip functionality without extra values, feel free tor request access to the beta version from support@hexawise.com
2. Ask yourself: will Single Person Accounts always have Gender (Partner) = N/A?
3. Ask yourself: will all scenarios with (Partner) details such as Income = N/A always be Single Person Accounts? (See the prior example; the logic is almost identical).
4. Ask yourself: will all scenarios that involve (Partner) income = "N/A" also always have other (Partner) details such as Pension Type as "N/A"?