Scenario 20: A mutual fund client asks their representative for advice on how to structure their Last Will and Testament. What is the appropriate response from the representative?

Question: Scenario 20: A mutual fund client asks their representative for advice on how to structure their Last Will and Testament. What is the appropriate response from the representative?

Answer options:

• Provide general advice based on common practices.
• Assist the client in drafting the will using standardized templates. ✅ Refer the client to a qualified legal professional.
• Decline to provide any advice, as it is outside their scope of practice, but do not refer.

Correct answer: Refer the client to a qualified legal professional.

Explanation: Will preparation and estate planning are complex legal matters that fall outside the scope of practice for a mutual fund representative. The appropriate action is to refer the client to a qualified lawyer or estate planner. Providing such advice or assisting with drafting would be 'crossing the line'. The correct answer is "Refer the client to a qualified legal professional.". This capacity-fill scenario 20 reinforces the same competency for the ific bank and follows the certified explanation standard.