Corporate Actions & Entitlements

# Corporate Actions & Entitlements

**Role relevance:** Asset servicing / corporate actions take-home
**Estimated time:** 45 minutes
**Difficulty:** Intermediate
**Format:** Excel (.xlsx)

## What you are given
- corporate_actions_entitlements_starter.xlsx with four announced events and eleven client holdings
- A Formula Help tab covering each event type and the exception test

## What you must deliver
1. Cash-dividend entitlement per holding, gross and net of withholding
2. Adjusted share counts for the split and the bonus issue, with cash in lieu of fractions
3. Rights subscription entitlement and its cost
4. Exception flags for any missing, zero or negative position

## Constraints & assumptions
Fractional entitlements always round DOWN, with cash in lieu at the stated price. A blank position is unknown, not zero. Flagged rows must contribute nothing to the totals.

## Submission note
Complete the starter file, then compare your work against the mark scheme.