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

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