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 Define Inputs 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 Values. The scenarios with Single Person Accounts should have only 7 Values. Remove the 4 Partner details from every scenario that has a "Single Person Account." This will require using a combination of married pairs, invalid pairs, and "Not Applicable" parameter values.
4. After you have completed this exercise:
Look at your "Create Tests" 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 instructor@hexawise.com
Answer the question at the bottom of this screen.
Hints to complete this exercise:
1. Remember that N/A's will be necessary whenever a Value in a test scenario is to be "skipped."
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 Pen